Wave
Genuinely free accounting — no catch for core features
Wave's free tier is not a trial or a crippled version — invoicing, expense tracking, bank reconciliation, and basic reporting are all included at no cost, forever, with no limits on invoices or transactions. The business model is based on charging for payment processing (when clients pay invoices online) and optional payroll.
The trade-off is that Wave lags behind Xero and QuickBooks on features, integrations, and support quality. But for early-stage freelancers and sole traders who simply need to track income and expenses and send invoices, it delivers everything needed at zero cost.
Where Wave excels
Core accounting features completely free — no time limit, no transaction limits.
Unlimited invoices with a clean, professional look and automatic payment reminders.
Double-entry accounting under the hood — generates proper financial statements for accountants.
Ideal starting point for sole traders who are not yet generating enough revenue to justify a paid tool.
Where it falls short
Support is email-only with slow response times — no live chat or phone.
No API or Zapier integration — cannot connect to other business tools.
Payroll and payment processing fees are on the high side compared to dedicated tools.
Pricing
Core accounting, invoicing, and bank connections are free forever. Wave Pro (£12/mo) adds receipt scanning and priority support. Payment processing (if clients pay invoices online) charges 1.4% + 20p per transaction for European cards. Payroll is a paid add-on.
| Plan | Price | Invoicing | Expense Tracking | Payroll | Bank Reconciliation | VAT Returns | What's included |
|---|---|---|---|---|---|---|---|
| Free | Free | — | — | — | — | — | Unlimited invoices, expense tracking, bank reconciliation, basic reports |
| Pro | £12/mo | — | — | — | — | — | Everything free + receipt scanning, priority support, auto-import receipts |
Features
- Invoicing
- Expense Tracking
- Payroll
- Bank Reconciliation
- VAT Returns
About
Wave is a free accounting platform for freelancers and very small businesses. Core features — invoicing, expense tracking, and bank reconciliation — are completely free with no subscriber limits, funded by optional paid add-ons for payroll and payment processing.
- Founded
- 2010
- HQ
- Toronto, Canada
- Support channels
- Email · Knowledge base