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FreshBooks vs Wave Accounting: Which Accounting Software Is Better?


Disclosure: We may earn commissions if you shop through the links below.

Last Updated: May 22, 2025

Both FreshBooks and Wave Accounting are leading accounting software solutions, but which one is better for you and your business?

Below we compare FreshBooks and Wave Accounting across nearly 50 different data points to help you make find the right one.

FreshBooks vs Wave Accounting Reviews

FreshBooksWave Accounting
Trustpilot Rating3.41.5
Number of Trustpilot Reviews779127
iPhone App Rating4.74.5
Number of iPhone App Reviews10,9005,700
Android App Rating4.43.6
Number of Android App Reviews5,49023,000

FreshBooks vs Wave Accounting Pricing

FreshBooksWave Accounting
Free TrialYesNo
Free Trial Length30 daysNo
Cheapest Plan NameLiteFree
Cheapest Plan Cost Per Month$33NA
Mid Priced Plan NamePlusNA
Mid Priced Plan Cost Per Month$33NA
Top Plan NamePremiumNo
Top Plan Cost Per Month$60NA

FreshBooks vs Wave Accounting Features

FeaturesFreshBooksWave Accounting
Target Business SizeMediumSmall
Tax HelpYesYes
Income & ExpensesYesYes
BookkeepingYesYes
Send InvoicesYesYes
Collect Payments Via Bank TransferYesYes
Collect Payments Via Credit CardYesYes
Recurring PaymentsYesYes
Enter BillsYesYes
Reconcile Bank TransactionsYesYes
Bank Account IncludedNoNo
Cash Flow ReportYesYes
W-9 + 1099 ManagementYesYes
Help With Sales TaxYesYes
Use Multiple CurrenciesYesYes
Expense TrackingYesYes
Payroll Software IntegrationYesYes
Tax DeductionsYesYes
Receipt CaptureYesYes
Mileage TrackingYesNo
Time ManagementYesNo
Inventory ManagementYesYes
User Access ControlsYesYes
Financial PlanningYesYes
Import/Export To & From ExcelYesYes
Free SupportYesNo
APIYesYes

List of Other Software Integrations

FreshBooksWave Accounting
  • Square
  • Squarespace
  • Google G Suite
  • Stripe
  • Hubspot
  • Fundbox
  • Bench
  • Zapier
  • Zapier
  • Make
  • Google Workspace
  • Zohoflow
  • HubSpot CRM
  • noCRM.io
  • Stripe
  • PayPal

FreshBooks Lite Features

  • Billable Clients
  • Client Profiles and Account Statements
  • Clients Can Store Credit Card Info
  • Client Account Portal
  • Client Credits
  • Unlimited Estimates
  • Unlimited + Customized Invoices
  • Automated Recurring Invoices
  • Scheduled Late Fees
  • Automated Late Payment Reminders
  • Accept Deposits
  • Manage Budget and Billing for Projects
  • Online Credit Card Payments
  • Online Bank Transfers (ACH)
  • Checkout Links Get You Paid Without Invoicing
  • Unlimited Time-Tracking
  • Unlimited Expenses
  • Automated Bank Import
  • Mobile Mileage Tracking
  • Tax Time Reports
  • Business Health Reports
  • At-A-Glance Performance Dashboards

Wave Accounting Free Features

  • Get unlimited income and expense tracking.
  • Add unlimited partners, collaborators, or accountants.
  • Know if you should charge clients more just by glancing at your dashboard.
  • Make unlimited bank and credit card connections.
  • Access helpful reports like Overdue Invoices & Bills and Profit & Loss.

FreshBooks Premium Features

NA

Wave Accounting No Features

NA

FreshBooks vs Wave Accounting Pro & Cons

FreshBooksWave Accounting
Pros
  • Built-in time and project tracking
  • Intuitive and user-friendly
  • Good invoicing functionality
  • Free plan
  • Unlimited invoicing
  • Robust reporting
Cons
  • Extra cost for additional team member
  • Limited features with cheapest plan
  • Limited functionality for big businesses
  • Additional fee for scanning and uploading receipts
  • No live support
  • No third-party integrations with additional features

Other Accounting Software Comparisons

  • Kashoo vs LessAccounting
  • TopNotepad vs TaxSlayer Pro
  • Patriot Software vs LessAccounting
  • gnucash vs myBooks
  • Striven vs Wave Accounting
  • Xero vs Vic.ai
  • FreshBooks vs Patriot Software
  • Botkeeper vs Wave Accounting
  • Sage Accounting vs Wave Accounting
  • QuickBooks Online vs gnucash

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