Accounting · Free Accounting
Wave Review
Free accounting and invoicing for very small and new businesses
Quick verdict
Wave is best for Brand-new, solo, or very small trades businesses that want free, simple accounting and unlimited invoicing while watching every dollar. Lighter accounting/reporting than paid competitors; customer-support complaints; some previously-free features moved to paid Pro; few native FSM integrations; most shops outgrow it.
Pricing
Starter plan free ($0/mo) for core accounting and unlimited invoicing; Pro $16/mo adds automated bank imports, more users, and extras. Payments and Payroll are paid add-ons (Payroll from $40/mo + $6/employee).
Affiliate disclosure: No confirmed standard affiliate program (Wave is owned by H&R Block); affiliate_url stays TBD.
About Wave
Wave is the best-known free accounting software for very small businesses — genuinely free core accounting and unlimited invoicing, with no monthly fee. Founded in 2009 in Toronto (and owned by H&R Block since 2019), it serves 2M+ small-business users who want to track income and expenses, send professional invoices, and keep basic books without paying a subscription. It earns solid ratings (4.4/5 on both G2 and Capterra; 4.6/5 on Software Advice across 1,600+ reviews).
For a brand-new or very small trades operator — a solo handyman, a side-hustle cleaner, a one-truck painter watching every dollar — Wave removes software cost as a barrier to getting organized. The free Starter plan covers core accounting and unlimited invoicing; a Pro plan ($16/mo) adds automated bank-transaction imports, more users, and extras; and Wave makes its money on add-ons — payment processing and Payroll (from $40/mo + $6/employee).
The trade-offs are depth, support, and the shrinking free tier. Wave is lighter than QuickBooks, Xero, or even FreshBooks on advanced accounting, reporting, and integrations, and the most common complaints are about customer support and the fact that some previously-free features have moved to the paid Pro plan over time. There are also fewer native FSM integrations. But for the specific job of free, simple accounting and invoicing for a very small business, Wave is the standout — just expect to graduate to a paid tool as you grow.
How it works
Wave is cloud accounting with a free core: you track income and expenses, send unlimited professional invoices, and keep basic double-entry books at no monthly cost on the Starter plan. The Pro plan ($16/mo) adds automated bank-feed imports, additional users, and extras. Wave monetizes through add-ons — accepting card/ACH payments on invoices (per-transaction fees) and Wave Payroll (from $40/mo plus $6 per employee/contractor) — so you can pay for only what you need. You connect a bank account (manually on free, automatically on Pro), categorize transactions, and run basic reports. There's no trial because the core plan is free to start.
Pros & cons
What works
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Genuinely free core accounting
Wave's Starter plan offers real accounting and unlimited invoicing at $0/mo — removing software cost as a barrier for brand-new or very small trades businesses. Few competitors offer this.
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Unlimited invoicing at no cost
Send unlimited professional invoices for free, which covers the single most important need for a small service business getting paid — without a subscription.
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Solid ratings for a free tool
4.4/5 on G2 and Capterra and 4.6/5 on Software Advice (1,600+ reviews) show Wave delivers real value, not just a stripped-down freebie, for its small-business target.
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Pay only for add-ons you need
Payments and Payroll are optional paid add-ons, so you can run free accounting and only pay when you need to accept cards or run payroll — flexible for a lean operation.
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Easy for non-accountants
Wave is simple and approachable, so a solo operator can keep basic books and invoice without accounting knowledge — ideal for getting organized early.
What doesn't
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Lighter than paid competitors
Wave's accounting depth, reporting, and capabilities are lighter than QuickBooks, Xero, or FreshBooks. Growing trades shops that need inventory, job costing, or advanced reports will outgrow it.
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Customer support complaints
The most common gripe is customer support — limited and slow, especially on the free plan. For a free tool that's expected, but it matters when you hit a problem with your books.
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Free features shrinking over time
Some previously-free features have moved to the paid Pro plan, so the 'free' product is narrower than it once was. Confirm what's actually free today before relying on it.
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Few native FSM integrations
Field-service tools rarely integrate with Wave the way they do with QuickBooks. If you want your FSM to sync to your books, Wave is usually not the tool.
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You'll likely outgrow it
Wave is a great starting point, but most trades businesses graduate to QuickBooks, Xero, or FreshBooks as they add complexity. Plan for a migration down the road rather than assuming it scales.
Features & integrations
Key features
Integrations
Frequently asked
Is Wave accounting still free in 2026?
Yes — Wave's Starter plan offers free core accounting and unlimited invoicing at $0/mo. However, some features that used to be free have moved to the paid Pro plan ($16/mo, adds automated bank imports and more), and Payments and Payroll are paid add-ons. So the core is free, but confirm which specific features you need are still on the free tier.
Who should use Wave?
Brand-new, solo, or very small trades businesses watching every dollar — a solo handyman, a side-hustle cleaner, a one-truck operator — who want free, simple accounting and unlimited invoicing. As you add employees, inventory, job costing, or need FSM integration, you'll likely graduate to QuickBooks, Xero, or FreshBooks.
What does Wave charge for?
Wave makes money on add-ons: the Pro plan ($16/mo) for automated bank imports and more users, payment processing (per-transaction fees to accept cards/ACH on invoices), and Wave Payroll (from $40/mo plus $6 per employee/contractor). The core accounting and invoicing remain free, so you only pay for the extras you use.
What are the downsides of Wave?
Mainly depth and support. Wave is lighter than paid competitors on advanced accounting, reporting, and integrations; customer support is limited (especially on the free plan); and some previously-free features have moved to paid. It also has few native field-service integrations, so it's not ideal if you need your FSM to sync to your books.
Will my field-service software sync with Wave?
Usually not natively. Field-service platforms overwhelmingly integrate with QuickBooks (and increasingly Xero), not Wave. If clean FSM-to-accounting sync matters to you, Wave is generally the wrong choice — it's best for very small businesses that manage invoicing and books directly in Wave rather than syncing from an FSM.