Comparison
FreshBooksvsWave Accounting
Feature Comparison
| Feature | FreshBooks | Wave Accounting |
|---|---|---|
| Bank reconciliation | ✓ | ✓ |
| Expense tracking | ✓ | ✓ |
| Financial reports | ✓ | ✓ |
| Free plan | ✗ | ✓ |
| Inventory tracking | ✗ | ✗ |
| Invoicing | ✓ | ✓ |
| Mobile app | ✓ | ✓ |
| Multi-currency | ✓ | ✗ |
| Payroll | ✗ | ✓ |
| Tax preparation | ✓ | ✗ |
| Third-party integrations | ✓ | ✗ |
| Time tracking | ✓ | ✗ |
FreshBooks Pricing
Lite
5 billable clients, 1 user
$19.00/mo
Plus
50 billable clients, 1 user
$33.00/mo
Premium
Unlimited billable clients, 1 user
$70.00/mo
Select
Custom for enterprises
Custom
Wave Accounting Pricing
Starter
Free
Pro
$19.00/mo
FreshBooks
Pros
- Ease of use simplifies accounting for non-accountants (154 mentions on G2)
- Quick invoicing saves time on financial management (80 mentions on G2)
- Exceptional customer support with fast responses (69 mentions on G2)
- Visual invoice calendar clarifies payment status
- Time tracking feels productive and auto-populates invoices
- Streamlines small business operations from setup to payments
Cons
- 5-client limit on Lite forces upgrade for more clients
- Expensive for growing teams at $11 per additional user/month
- Limited advanced reporting and customization options
- High payment processing fees over 3% per transaction
- No access to historical data after cancellation
- Duplicate expense issues with bank sync and manual entry
Wave Accounting
Pros
- Free core features
- Unlimited invoicing and users
- Easy to use for beginners
Cons
- No advanced features like inventory
- Limited customer support
The Verdict
FreshBooks takes this one with a DuelStack Score of 6.8/10 vs 6.2/10. It particularly excels at ease of use simplifies accounting for non-accountants (154 mentions on G2). That said, Wave Accounting is the better pick if you need free core features. Wave Accounting also wins on price (from $19/mo), so consider it if budget is the priority.