Comparison
Wave AccountingvsXero
It's a tie
Wave AccountingvsXero
Wave Accounting and Xero are neck and neck — both score within a fraction of each other on our DuelStack rating. Wave Accounting stands out for free core features, while Xero edges ahead on unlimited users on all plans. On budget alone, Wave Accounting wins (starts at $19/mo). Either is a solid choice — pick the one that fits your workflow.
Wave Accounting
Xero
Feature Comparison
| Feature | Wave Accounting | Xero |
|---|---|---|
| Bank reconciliation | ✓ | ✓ |
| Expense tracking | ✓ | ✓ |
| Financial reports | ✓ | ✓ |
| Free plan | ✓ | ✗ |
| Inventory tracking | ✗ | ✓ |
| Invoicing | ✓ | ✓ |
| Mobile app | ✓ | ✓ |
| Multi-currency | ✗ | ✓ |
| Payroll | ✓ | ✓ |
| Tax preparation | ✗ | ✓ |
| Third-party integrations | ✗ | ✓ |
| Time tracking | ✗ | ✗ |
Wave Accounting Pricing
Xero Pricing
Wave Accounting
Pros
- Free core features
- Unlimited invoicing and users
- Easy to use for beginners
Cons
- No advanced features like inventory
- Limited customer support
Xero
Pros
- Multi-currency support
- Extensive app integrations
- Unlimited users on all plans
- User-friendly interface
Cons
- Higher tiers pricey
- Entry plan limits invoices/bills
- Limited phone support
Why we landed here
Wave Accounting and Xero are neck and neck — both score within a fraction of each other on our DuelStack rating. Wave Accounting stands out for free core features, while Xero edges ahead on unlimited users on all plans. On budget alone, Wave Accounting wins (starts at $19/mo). Either is a solid choice — pick the one that fits your workflow.
The DuelStack Score (1–10) weights feature breadth (25%), pricing value (25%), pros/cons ratio (20%), tier flexibility (15%), and maturity + user rating (15%). Last updated June 2026.
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Frequently asked questions
Which is better, Wave Accounting or Xero?
Wave Accounting and Xero are neck and neck — both score within a fraction of each other on our DuelStack rating. Wave Accounting stands out for free core features, while Xero edges ahead on unlimited users on all plans. On budget alone, Wave Accounting wins (starts at $19/mo). Either is a solid choice — pick the one that fits your workflow.
How much does Wave Accounting cost vs Xero?
Wave Accounting offers a free plan. Xero starts at $5/month.
Does Wave Accounting have a free plan?
Yes, Wave Accounting offers a free plan with limited features.
Does Xero have a free plan?
Xero does not offer a free plan, but pricing starts at $5/month.