FreshBooks vs Wave
By Itai Varochik | Updated 2026
Quick Verdict
Overall Winner: FreshBooks (4.3/5)
We tested FreshBooks and Wave side-by-side. FreshBooks comes out ahead overall, but Wave may be better for specific use cases.
Score Breakdown
| Criteria | FreshBooks | Wave |
|---|---|---|
| Features | 7.5/10 | 7.5/10 |
| Ease of Use | 9/10 | 8.5/10 |
| Value for Money | 7.5/10 | 10/10 |
| Customer Support | 8.5/10 | 6/10 |
| Overall | 8.1/10 | 8/10 |
Feature Comparison
| Feature | FreshBooks | Wave |
|---|---|---|
| Invoicing | Yes | Yes |
| Time Tracking | Yes | No |
| Expenses | Yes | No |
| Client Portal | Yes | No |
| Projects | Yes | No |
| Reports | Yes | No |
| Free Accounting | No | Yes |
| Receipt Scanning | No | Yes |
Pricing Comparison
FreshBooks: $19/mo – $60/mo
Wave: Free (core features)
FreshBooks Pros & Cons
Pros
- Best-in-class invoicing
- Built-in time tracking
- Client portal
- Intuitive for non-accountants
Cons
- Limited inventory
- Client limits on lower tiers
Wave Pros & Cons
Pros
- Completely free accounting
- Free invoicing
- Receipt scanning
- Easy to use
Cons
- Limited reporting
- No inventory tracking
- Fewer integrations
- Payroll costs extra
Key Specifications
| Spec | FreshBooks | Wave |
|---|---|---|
| Rating | 4.3/5 | 4.2/5 |
| Pricing | $19/mo – $60/mo | Free (core features) |
| Year Founded | 2003 | 2010 |
| Headquarters | Toronto, Canada | Toronto, Canada |
Our Verdict
FreshBooks wins overall. Choose FreshBooks if you value Freelancers. Choose Wave if you prioritize Freelancers.
Frequently Asked Questions
Is FreshBooks better than Wave?
Based on our testing, FreshBooks scores higher with a rating of 4.3/5 compared to Wave's 4.2/5. However, the best choice depends on your specific needs.
What is the main difference between FreshBooks and Wave?
FreshBooks is known for: Best invoicing and accounting software for freelancers.. Wave is known for: Free accounting and invoicing software for small businesses and freelancers..
Which is cheaper, FreshBooks or Wave?
FreshBooks pricing: $19/mo – $60/mo. Wave pricing: Free (core features).
Can I use FreshBooks and Wave together?
While both tools serve similar purposes in the Accounting Software category, some users do use complementary features from both platforms.
What are the pros of FreshBooks?
Best-in-class invoicing. Built-in time tracking. Client portal
What are the pros of Wave?
Completely free accounting. Free invoicing. Receipt scanning
Which accounting software should I choose?
Choose FreshBooks if you value Freelancers. Choose Wave if you prioritize Freelancers.