Best Free Option

Wave

by Wave Financial

Free invoicing and accounting software for small businesses

Independently VerifiedLast verified: March 2026
See 3 alternatives to Wave →

7.7

/ 10

Overall Score

Wave scores 7.7/10 overall. Free invoicing and accounting software for small businesses. Best for: Freelancers and solopreneurs on a tight budget. Starting at $16/month. Last verified Mar 24, 2026.

Score Breakdown

How we score →
Value
9
Ease of Use
8
Power
5
Setup Friction
9
Migration Ease
7
Transparency
8

Scores are editorial assessments on a 1–10 scale. Overall score uses a weighted formula: Value (25%), Power (20%), Transparency (20%), Ease (15%), Setup (10%), Migration (10%). Full methodology

Switching Intelligence

Sasanova Exclusive

Migration Difficulty

Easy

Implementation Complexity

Low

What triggers people to switch AWAY

  • Need automatic bank imports on free plan
  • Need inventory or multi-currency
  • Need third-party integrations
  • Need payroll beyond US/Canada

What blocks people from leaving

  • Very few — simple data model makes switching easy
  • Free pricing is hard to beat

Hidden Costs & Gotchas

  • Payment processing: 2.9% + $0.60 per credit card transaction
  • Payroll add-on: $40/mo + $6/employee

Data Export & Portability

CSV export of reports and transactions

Best For

  • Freelancers and solopreneurs on a tight budget
  • Very small businesses that need basic invoicing and accounting
  • Anyone who wants genuinely free accounting software

Avoid If

  • You need inventory management
  • You need advanced reporting or multi-currency
  • You need integrations with many third-party tools
  • You have complex accounting needs

Features

Invoicing
Accounting
Receipt scanning
Financial reports
Bank connections (Pro)
Transaction categorization (Pro)
Payroll (add-on)
Payment processing
Recurring invoices
Customer & vendor management

Pricing

PlanMonthlyAnnualBillingLimits
StarterFreeFreeflatUnlimited invoicing, basic accounting, receipt scanning
ProPopular$16/mo$170/yrflatAutomatic bank imports, transaction categorization, unlimited receipt scanning, remove Wave branding

Free tier: Unlimited invoicing and basic accounting features. Manual bank entry only (no automatic imports).

Source: Wave Financial pricing page →Verified: Mar 2026Scoring methodology →

Pricing Calculator

Estimate your monthly cost for Wave. Click a plan to select it.

1255075100

Estimates based on published pricing. Usage-based plans are approximated. Verify with vendor for exact quotes.

Integrations

PayPalStripe (via payments)Google Sheets (limited)Zapier (limited)

Alternatives

QuickBooks Online

Intuit

6

/ 10

Smart, simple online accounting for small businesses

Xero

Xero Limited

7.2

/ 10

Beautiful business and accounting software

FreshBooks

FreshBooks

6.9

/ 10

Accounting software that makes running your small business easy

Visit Wave

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