Wave

Active

Country: Canada (CA)
Founded: 2009
Developer: Wave Accounting Inc.
Pricing: Free
Open source: No
Platforms: Web, iOS, Android

Indexes

Expense Tracking Invoice/Freelance Billing

Overview

Wave is a free accounting and invoicing software designed for freelancers, small businesses, and entrepreneurs. The platform provides core financial management tools including invoicing, expense tracking, receipt scanning, and financial reporting without requiring payment. Wave serves as an accessible entry point for business owners who need to manage finances and billing but operate with limited budgets.

Key Features

Invoicing - Create and send professional invoices with customizable templates and automated payment reminders.
Expense Tracking - Record and categorize business expenses with receipt scanning and automatic categorization.
Financial Reports - Generate profit and loss statements, balance sheets, and other financial reports for business analysis.
Receipt Scanning - Capture and digitize receipts using mobile app camera for automatic expense logging.
Multi-currency Support - Handle transactions and invoicing in multiple currencies for international business operations.
Tax Preparation - Organize financial data to simplify tax filing and provide records for accountants.
Payment Processing - Accept online payments directly through invoices with integrated payment gateway options.
Bank Connections - Link bank accounts to automatically import and reconcile transactions.

Pricing

Plan	Price	Includes
Free	$0	Invoicing, expense tracking, financial reports, receipt scanning, up to 2 users

Platforms & Requirements

Wave operates as a web-based application accessible through any modern browser at waveapps.com. Native mobile apps are available for iOS and Android, providing on-the-go access to invoicing and expense tracking. The platform requires an internet connection and supports all major operating systems through the web interface.

Integrations & Ecosystem

Stripe payment processing
PayPal payments
Bank account connections
Make (formerly Integromat) automation platform
Receipt scanning and OCR
CSV import/export
API access for developers

Alternatives

App	Difference
FreshBooks	Cloud-based invoicing with more advanced project tracking and time-logging features, but requires paid subscription.
QuickBooks Online	Comprehensive accounting software with deeper financial management capabilities, inventory tracking, and payroll, positioned at higher price point.
Zoho Invoice	Freemium invoicing platform with more customization options and advanced features in paid tiers.
Square Invoices	Payment-focused invoicing tool integrated with Square's payment processing ecosystem.

Reputation

Wave is widely recognized as a reliable free accounting solution for small businesses and freelancers, particularly valued for its zero-cost entry point and straightforward invoicing capabilities. Strengths include the genuinely free tier without feature limitations, user-friendly interface, and strong mobile apps. Common criticisms note that advanced accounting features are limited compared to paid competitors, customer support responsiveness varies, and the platform occasionally experiences performance issues during peak usage times.

Sources (9)