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Advanced reporting & automation
Payroll & inventory management
800+ app integrations
Live chat & phone support
Scales with growing teams
AI-powered transaction categorization
$ Plans from $38/month
Free starter plan available
Unlimited invoicing & users
Simple bookkeeping essentials
Lower cost for freelancers
Best for solopreneurs
Self-service help center
$ Free plan available
Choosing the right accounting software is essential for managing your business efficiently, but with so many options available, finding the right fit can be difficult. When comparing Wave vs QuickBooks, the choice largely depends on your business needs.
Wave is ideal for freelancers, solopreneurs, and small service-based businesses that need simple, affordable accounting. QuickBooks is better suited for growing businesses that require advanced features like payroll, inventory management, and detailed financial reporting.
In this guide, we compare Wave and QuickBooks based on pricing, features, customer support, and ease of use to help you choose the best accounting solution for your business.
Here is the comparison between Wave and QuickBooks, including pricing, features, support, and scalability. Use this table to find the best accounting software for your business.
| Parameter | Wave | QuickBooks |
| Business Type | Freelancers, sole proprietors, and micro-businesses | Growing small and medium-sized businesses |
| Users | Unlimited users | 1-25 users (depending on the plan) |
| Support | Limited support. Live support with paid services. | Live chat and phone support with paid plans. |
| Invoicing | Unlimited invoices with basic templates. | Customisable invoices with automation. |
| Bank Reconciling | Automatic bank feeds with the Pro plan. | Automatic bank feed and reconciliation. |
| Accounts Receivable | Basic invoicing; recurring invoices require Pro | Estimates, recurring invoices, and customer portal |
| Accounts Payable | Basic expense tracking | Bill management and payment tracking |
| Advanced Features | No inventory, project tracking, or purchase orders. | Inventory, project tracking, purchase orders, and advanced reporting. |
| Payroll | Paid payroll service in supported regions | Paid payroll add-ons |
| Integrations | Limited native integrations | 800 + app integrations |
Wave is a cloud-based accounting solution suitable for small businesses and solopreneurs. It offers features such as invoicing, payroll, bank reconciliation, expense tracking, and reporting. In short, it is the perfect fit for businesses that don’t require advanced accounting workflows or industry-specific features.
This is also a perfect accounting solution for users who want to avoid monthly subscription fees and need a simple software to send invoices, connect with their bank, and track expenses.
QuickBooks is a perfect fit for businesses that require advanced accounting features, automation, and detailed financial reporting. Also, it is suitable for growing businesses that have more complex financial accounting. This software is the ultimate choice for businesses that want to improve their financial visibility and scale without switching software as they grow.
Companies can also prefer this accounting solution that relies on detailed reports for budgeting, cash flow, and profitability analysis.
Both Wave and QuickBooks Online offer different pricing plans and features designed for various types of businesses. Compare their plans, features, and overall value to find the accounting solution that fits your budget and meets your business requirements.
Note: Pricing may change over time. We recommend checking the official Wave and QuickBooks websites for the latest pricing details before making a purchase decision.
| Pricing | Monthly Plan | Annual Plan | Key Features |
| Starter | $0/month | $0/year | Unlimited estimates, invoicing, bills, and bookkeeping records. Invoice on the go with a mobile app Cash flow and customers in one dashboard |
| Pro | $19USD/month | $190USD/year | Everything in Starter, plus automatic bank transaction imports, automated payment reminders, and automatic transaction categorization |
| – | Pricing | Features | Users |
| Simple Start | $19/mo
Save 50% for 3 months* |
Income and expenses, mileage tracking, estimates, contractors, and bill management | 1 user |
| Essentials | $37/mo
Save 50% for 3 months* |
Income and expenses, sales tax, contractors, multiple currencies, and enter time | Includes 3 users |
| Plus | $57/mo
Save 50% for 3 months* |
Cash flow, sales tax, multiple currencies, inventory, financial planning, project profitability | Includes 5 users |
| Advanced | $137/mo
Save 50% for 3 months* |
Revenue recognition, workflow automation, custom access controls, workflow automation, batch invoices and expenses, support & training, and financial planning. | Includes 25 users |
While doing the comparison of the accounting software, the monthly subscription is only a part of the total cost. If you are a freelancer, then concentrate only on payment processing fees, automation features, and time saved on automated tools.
For example, If you are a solo freelancer who sends invoices to 10 clients every month. Then each invoice averages $500, resulting in $5,000 in monthly payments processed through cards.
| Cost Factor | Wave Pro | QuickBooks Simple Start |
| Monthly Subscription | $19/month | $38/month |
| Payment Processing Fees | 2.9% + $0.60 × 10 transactions = approximately $151/month | 2.99% × $5,000 = approximately $150/month |
| Automated Bank Feeds | Included with Pro plan | Included |
| Estimated Monthly Cost | Around $170/month | Around $188/month |
Verdict:
Wave software will be charged around $18 less per month than QuickBooks after including subscription and payment processing charges.
Herein, Wave will charge less overall costs for freelancers, and the difference becomes smaller once payment fees are included. This software can also offer better invoicing, expense tracking, and basic reconciliation. Wave can provide better value.
Both Wave and QuickBooks Online offer different pricing plans and features designed for various types of businesses. Compare their plans, features, and overall value to find the accounting solution that fits your budget and meets your business requirements.
Note: Pricing may change over time. We recommend checking the official Wave and QuickBooks websites for the latest pricing details before making a purchase decision.
| Pricing | Monthly Plan | Annual Plan | Key Features |
| Starter | $0/month | $0/year |
|
| Pro | $19USD/month | $190USD/year |
|
| – | Pricing | Features | Users |
| Simple Start | $19/mo Save 50% for 3 months* |
Income and expenses, mileage tracking, estimates, contractors, and bill management | 1 user |
| Essentials | $37/mo Save 50% for 3 months |
Income and expenses, sales tax, contractors, multiple currencies, and enter time | – |
| Plus | $57/mo Save 50% for 3 months* |
Cash flow, sales tax, multiple currencies, inventory, financial planning, project profitability | Includes 5 users |
| Advanced | $137/mo Save 50% for 3 months |
Revenue recognition, workflow automation, custom access controls, workflow automation, batch invoices and expenses, support & training, and financial planning. | Includes 25 users |
While doing the comparison of the accounting software, the monthly subscription is only a part of the total cost. If you are a freelancer, then concentrate only on payment processing fees, automation features, and time saved on automated tools.
For example, If you are a solo freelancer who sends invoices to 10 clients every month. Then each invoice averages $500, resulting in $5,000 in monthly payments processed through cards.
| Cost Factor | Wave Pro | QuickBooks Simple Start |
| Monthly Subscription | $19/month | $38/month |
| Payment Processing Fees | 2.9% + $0.60 × 10 transactions = approximately $151/month | 2.99% × $5,000 = approximately $150/month |
| Automated Bank Feeds | Included with Pro plan | Included |
| Estimated Monthly Cost | Around $170/month | Around $188/month |
Verdict:
Wave software will be charged around $18 less per month than QuickBooks after including subscription and payment processing charges. Herein, Wave will charge less overall costs for freelancers, and the difference becomes smaller once payment fees are included. This software can also offer better invoicing, expense tracking, and basic reconciliation. Wave can provide better value.
Wave and QuickBooks both offer essential accounting features like invoicing, expense tracking, automation, integrations, and reporting. Let’s compare their key features to help you choose the right accounting solution for your business.
Both the accounting software Wave and QuickBooks offer unlimited invoicing with professional templates, recurring bills, and payment reminders. If you only want to send invoices and accept payments, Wave is the right choice.
Whereas, if you are running a business and managing recurring clients or larger billing volumes, you must use QuickBooks automation and customization features.
With a bank reconciliation feature, you can match your transactions with your bank account. Wave offers an automatic bank reconciling feature with its Pro Plan. On the other hand, QuickBooks includes an automated bank feed feature to make your bookkeeping process simpler.
QuickBooks and Wave both help businesses in preparing financial reports that will help in determining the overall company’s performance. Wave provides essential financial reports like Profit & Loss and Balance Sheet. Whereas QuickBooks offers advanced reporting capabilities, including budgeting, cash flow analysis, and customizable financial insights.
With this accounting software, making payments has become easier. Both these financial software support online payments through credit cards and bank transfers. You can compare the payment processing fees and then choose the right software for your business.
Customer support plays an important role when choosing accounting software. Wave offers a help center and limited support options, while QuickBooks provides live chat and phone support with eligible plans for smoother accounting management.
Wave application consists of basic automation features for bookkeeping. Whereas, QuickBooks provides AI-sponsored features like smart transaction categorization, receipt capture, and automated financial insight to reduce manual work.
Customer support plays a major role in selecting the right accounting solution for your business. Both QuickBooks and Wave software offer customer support facilities to help users with their issues.
Wave follows a self-service support approach with a detailed help center, setup guides, and educational resources. While users can find solutions to common issues through these resources, direct support options are more limited compared to QuickBooks, making it less suitable for businesses that need immediate assistance.
QuickBooks offers a more comprehensive support experience with options such as live chat, phone support, community forums, and access to accounting professionals. These resources help users resolve technical issues, manage accounting tasks, and get expert guidance when needed.
If you need personalized assistance with QuickBooks or Wave accounting software, BooksMerge can help. From QuickBooks setup and troubleshooting to bookkeeping support and ongoing accounting assistance, BooksMerge helps businesses manage their finances more efficiently and focus on their growth.
The right accounting solution depends on your business size, industry type, and business requirements. Wave is an ideal choice for businesses that require basic bookkeeping needs, and QuickBooks is for companies looking for advanced accounting features.
For freelancers, solopreneurs, and consultants, Wave is an ideal choice. This accounting program includes features such as expense tracking, invoicing, and basic accounting. Moreover, this accounting software provides a free plan that covers the essentials without paying any extra charges.
If you are planning to expand your business and you manage multiple employees or clients, then QuickBooks is the right choice. This accounting solution provides features such as advanced reporting, project tracking, payroll, and multi-user access for business growth.
QuickBooks is the right choice for industries dealing in retailing and product-based businesses. It includes features such as inventory management, purchase orders, and detailed sales reporting. Wave does not provide these features.
If you are running the business outside the U.S. or Canada, then Wave is an ideal choice. Whereas QuickBooks is an ideal option for better regional availability, broader support, and more integrations.
Many accountants and bookkeepers choose QuickBooks because of its advanced reporting, automation, third-party integrations, and accounting tools. These features simplify managing multiple clients and handling complex financial records.
We have discussed the features of both software in detail. Even though they give a detailed idea, the user review might help you understand the software in everyday use. Let’s look at what users say on different platforms:
Reviews across NerdWallet, Trustpilot, and Reddit show that most Wave users like its free Starter plan and simple interface. Freelancers and solo business owners often say it’s easy to set up and covers their basic invoicing and bookkeeping needs without requiring a paid subscription.
The most common complaints are about bank sync issues and customer support. Users occasionally report delayed or duplicate transactions, and some say getting help can take longer because support is mainly available through chat and email.
Overall, users see Wave as an excellent value for simple bookkeeping, though bank connectivity and support remain its biggest drawbacks.
Reviews across NerdWallet, Trustpilot, and Reddit suggest that users choose QuickBooks for its advanced features, detailed reports, and reliable customer support. Many small businesses say it’s a good fit once their accounting needs become more complex.
The biggest drawback is the cost. Users often mention that subscription fees increase as they add features or users, and recent price hikes have made the software less affordable for some businesses.
Overall, users value QuickBooks for its powerful tools and support, but many feel the higher price is the main trade-off.
Switching accounting software is easier when your books are clean and up to date. Before moving to a new platform, reconcile your bank accounts, back up your financial records, and export important reports. This helps reduce errors and makes the transition much smoother.
Moving from Wave to QuickBooks is a common choice for businesses that need more advanced accounting features. Wave lets you export;
Data that can’t be transferred automatically and needs to be imported manually includes;
After importing your data, review your account balances and reports to ensure everything matches your previous records.
If you’re moving from QuickBooks to Wave to reduce costs or simplify bookkeeping, you can export the following data;
Data that can’t be transferred includes;
Before cancelling your QuickBooks subscription, keep copies of your reports and financial records so you can access historical data whenever needed.
Read More: Sage Vs QuickBooks: Which Is the Right Choice For Your Business?
Hopefully, this Wave vs QuickBooks comparison helps you choose the right accounting software for your business needs. Wave is a great option for freelancers and small businesses that need simple accounting features like invoicing, expense tracking, and basic bookkeeping. QuickBooks is better suited for growing businesses that require advanced reporting, payroll, automation, and inventory management features.
If you need personalized guidance with setup or accounting solutions, you can consult with BooksMerge experts for support tailored to your business.
Wave is the right choice for freelancers and small businesses that need basic accounting tools. QuickBooks offers more advanced features like reporting, payroll, and inventory management for growing businesses.
Wave is better for simple and affordable bookkeeping, while QuickBooks Online is a better choice for businesses that need advanced accounting features and scalability.
Yes, Wave offers a free plan with basic accounting features. QuickBooks requires a paid subscription but provides more advanced tools.
Wave is ideal for small businesses on a budget, QuickBooks is best for growing businesses, and Xero is a good option for businesses needing easy collaboration.
FreshBooks is great for invoicing-focused businesses, Wave suits small businesses needing basic accounting, and QuickBooks is better for advanced accounting needs.
Yes, you can switch between both platforms, but some data may need to be moved or set up manually.
No, Wave has limited support options, while QuickBooks offers more direct support, including phone assistance on eligible plans.
Users prefer Wave software for its simplicity and low cost, while QuickBooks is preferred for its advanced features and support. The main concern with Wave is limited support, while QuickBooks is often considered expensive.
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