Accounting · Free Accounting
Wave Review
Free accounting and invoicing for very small and new businesses
Heads up
Wave Financial's BBB profile lists 235 complaints closed in the last three years as of 30 September 2026. Wave has been BBB-accredited since 2013. Wave's own payments page says it runs periodic credit risk assessments and may hold funds and request more information, so confirm payout and hold terms before relying on Wave Payments for cash flow.
Quick verdict
Who Wave fits: Brand-new, solo or very small trades businesses that want free double-entry books and unlimited invoicing while watching every dollar. Trade-offs: Bank automation and extra users need Pro ($19/mo); card fee of 2.9% + $0.60; Wave may hold payment funds during risk reviews; confirm your field-service tool syncs with Wave.
Pricing
Starter plan free ($0/mo): unlimited estimates, invoices, bills and bookkeeping records. Pro $19 USD/mo or $190 USD/yr: adds automatic bank-transaction import and categorizing, unlimited receipt capture, late-payment reminders and extra users. Card processing 2.9% + $0.60 (Amex 3.4% + $0.60); bank (ACH) payments 1% with a $1 minimum; Pro waives the $0.60 on the first 10 card transactions each month. Payroll add-on (US) $40/mo base + $6 per active employee and $6 per contractor paid. Receipts add-on for Starter $8 USD/mo or $72/yr (included in Pro); Wave Advisors bookkeeping from $149 USD/mo.
Affiliate disclosure: The link to Wave on this page goes to its own site and is not an affiliate link.
About Wave
Wave is small-business accounting software with a free Starter plan, made by Wave Financial of Toronto, which H&R Block acquired in 2019. Wave says it has helped more than 5.9 million small business owners in the US and Canada since 2010. The free plan covers unlimited estimates, invoices, bills and bookkeeping records in what Wave calls real double-entry accounting, with profit and loss, balance sheet and cash-flow reports.
For a brand-new or very small trades operator, Wave removes the subscription as a barrier to getting organized. The Pro plan ($19/mo or $190/yr) adds automatic import, merging and categorizing of bank transactions, unlimited receipt capture, automatic late-payment reminders, branded invoices and extra users. Wave earns the rest from add-ons: card and bank payments on invoices, Wave Payroll ($40/mo plus $6 per active employee and $6 per contractor paid in the US), a Receipts add-on for Starter users ($8/mo) and Wave Advisors bookkeeping from $149/mo.
Card payments cost 2.9% + $0.60 per transaction (3.4% + $0.60 for Amex) and bank (ACH) payments 1% with a $1 minimum; Pro waives the $0.60 on the first 10 card transactions each month. Wave's payments page says it runs periodic credit risk assessments and may hold funds while it asks for more information, and its BBB profile lists 235 complaints closed in the last three years, so read the payout terms before relying on Wave Payments for cash flow.
The trade-off: Wave lets you keep real books and send unlimited invoices for $0, but bank automation and extra users need Pro, card payments carry a $0.60 fixed fee (FreshBooks charges $0.30), and you should confirm your field-service tool syncs with Wave before relying on it.
How it works
Sign up for the free Starter plan and you can send unlimited estimates and invoices, record bills and expenses, and keep double-entry books, entering bank transactions yourself. Pro ($19/mo) connects your bank and card accounts through Plaid to import, merge and categorize transactions automatically, adds unlimited receipt capture and late-payment reminders, and lets you add users as admin, editor or viewer. On either plan you can accept card and bank payments on invoices (Wave says payouts take 1-2 business days for cards and 1-7 for bank payments) and add Wave Payroll. There is no trial because Starter is free.
Pros & cons
What works
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Free core accounting
The Starter plan is $0 and includes unlimited estimates, invoices, bills and bookkeeping records, removing software cost as a barrier for brand-new or very small trades businesses.
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Real double-entry books
Wave describes itself as real double-entry accounting software, with profit and loss, balance sheet and cash-flow reports your accountant can work from.
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Low-cost upgrade
Pro is $19/mo or $190/yr and adds automatic bank imports, unlimited receipt capture, late-payment reminders and extra users.
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Pay only for add-ons you use
Payments, payroll ($40/mo plus $6 per active employee and $6 per contractor paid) and bookkeeping help (from $149/mo) are optional, so a lean operation pays only when it needs them.
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Bank-payment option
Customers can pay invoices by bank transfer at 1% with a $1 minimum, cheaper than card processing on larger jobs.
What doesn't
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Bank automation needs Pro
On the free Starter plan you enter bank transactions yourself; automatic import, merging and categorizing through Plaid require Pro ($19/mo).
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Higher fixed card fee
Card payments cost 2.9% + $0.60 (Amex 3.4% + $0.60); Pro waives the $0.60 only on the first 10 card transactions a month. FreshBooks charges 2.9% + $0.30.
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Payment holds possible
Wave's payments page says it runs periodic credit risk assessments and may hold funds and ask for more information, which can delay cash for a small business.
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Check your field-service sync
Before relying on Wave, confirm your field-service tool syncs with it; Jobber, for example, documents QuickBooks Online and Xero integrations.
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Extra users need Pro
Adding admins, editors or viewers requires Pro; Starter only lets you add a payroll manager or a Block Advisors tax pro.
Features & integrations
Key features
Integrations
Frequently asked
Is Wave accounting still free in 2026?
Yes. The Starter plan is $0 and includes unlimited estimates, invoices, bills and bookkeeping records. Automatic bank imports, unlimited receipt capture, late-payment reminders and extra users need Pro ($19/mo or $190/yr), and payments and payroll cost extra.
Who should use Wave?
Brand-new, solo or very small trades businesses watching every dollar that want real books and unlimited invoicing for free. If you need job costing, inventory, several users or a field-service sync, check whether Wave covers it or compare QuickBooks Online, Xero or FreshBooks.
What does Wave charge for?
Pro is $19/mo ($190/yr). Card payments cost 2.9% + $0.60 (Amex 3.4% + $0.60), with Pro waiving the $0.60 on the first 10 card transactions a month; bank payments cost 1% with a $1 minimum. Wave Payroll is $40/mo plus $6 per active employee and $6 per contractor paid in the US. The Receipts add-on is $8/mo for Starter users, and Wave Advisors bookkeeping starts at $149/mo.
What are the downsides of Wave?
Bank automation and extra users need Pro; card processing carries a $0.60 fixed fee (FreshBooks charges $0.30); Wave says it may hold payment funds during credit risk reviews; and you need to confirm your field-service tool syncs with Wave.
Will my field-service software sync with Wave?
Check before you commit. Jobber, for example, documents integrations with QuickBooks Online and Xero. If your field-service tool has no Wave sync, you would re-enter invoices and payments in Wave by hand.
Other accounting software
QuickBooks Online
Intuit's cloud accounting, from a free plan to Advanced, with job costing and inventory from the Plus plan up
Xero
Cloud accounting with no per-user license fees and three simple US plans
FreshBooks
Invoicing-first accounting for solo and small service businesses
QuickBooks Desktop / Enterprise
QuickBooks' Windows desktop accounting for larger contractors, with a Construction & Contractors edition
Sage 50
Sage 50: installed accounting software with job, phase and cost code tracking, inventory and purchase orders
Zoho Books
Low-cost online accounting with a free plan for small revenue and job profitability from the Professional plan