Wave Accounting is completely free with unlimited invoicing and basic accounting features, making it ideal for freelancers and startups with zero budget, while QuickBooks Online charges $30-$200/month but offers advanced automation, multi-user access, and deeper integrations for growing businesses.
Wave Accounting vs QuickBooks Online — Side-by-side comparison on A Versus B
Free cloud-based accounting software for freelancers and small businesses with unlimited invoicing.
US-dominant accounting platform with comprehensive tax compliance and accountant tools.
Monthly Cost. Payroll Processing. Multi-User Access. Bank Reconciliation. Third-Party App Integrations. Invoice Customization. Mobile App Rating (iOS)
Choose Wave if you're a freelancer or solo business owner with minimal revenue and need completely free accounting without paying for payroll or multi-user features. Choose QuickBooks Online if you have employees, need advanced automation, require team collaboration, or manage complex accounting workflows—the monthly investment pays for itself through time savings and professional integrations.
Wave Accounting: $0 (Free) | QuickBooks Online: $30 (Simple Start)
Wave Accounting: 1-2 (limited) | QuickBooks Online: 3+ (scalable)
Wave Accounting: Yes, included | QuickBooks Online: Yes, included
Wave Accounting: No on free plan | QuickBooks Online: 160 (limited real-time conversion)
Wave Accounting: Email and community only | QuickBooks Online: Phone, chat, and expert-assisted
Wave Accounting: No | QuickBooks Online: Yes (Advanced plan)
Wave Accounting: Basic payroll included | QuickBooks Online: Available via add-ons
Wave Accounting: 50+ | QuickBooks Online: 750+
Wave Accounting: 1 user | QuickBooks Online: 3 users
Wave Accounting: Manual only | QuickBooks Online: Automated (SmartMatch AI)
Wave Accounting: $20-$50 add-on | QuickBooks Online: Included in plan
Wave Accounting: 4.2/5 | QuickBooks Online: 4.5/5
Wave Accounting: 12,000+ global institutions | QuickBooks Online: 16,000+ global institutions
Wave Accounting: 12 standard reports | QuickBooks Online: 100+ customizable reports
Wave Accounting: N/A | QuickBooks Online: Enhanced 2026 features
Wave Accounting: N/A | QuickBooks Online: Limited (separate subscriptions)
Wave Accounting: N/A | QuickBooks Online: Limited USD focus
Wave Accounting: N/A | QuickBooks Online: 25 users
Wave Accounting: N/A | QuickBooks Online: Strong integration
Wave Accounting: N/A | QuickBooks Online: Deepest in market
Wave Accounting: N/A | QuickBooks Online: Free (QBO Accountant)
Wave Accounting: N/A | QuickBooks Online: Industry-leading recommendation
Wave Accounting: N/A | QuickBooks Online: $30
Wave Accounting: N/A | QuickBooks Online: Unlimited per plan tier
Wave Accounting: N/A | QuickBooks Online: Unlimited
Wave Accounting: N/A | QuickBooks Online: Available in higher tiers
Wave Accounting: N/A | QuickBooks Online: 650+
Wave Accounting: N/A | QuickBooks Online: Advanced (Intuit Intelligence, Tax AI beta, batch processing)
Wave Accounting: N/A | QuickBooks Online: Supported with advanced workflows
Wave Accounting: N/A | QuickBooks Online: 6
Wave Accounting: N/A | QuickBooks Online: 4.3M
Wave Accounting: N/A | QuickBooks Online: Built-in
Wave Accounting: N/A | QuickBooks Online: 10
Wave Accounting: N/A | QuickBooks Online: 30
Wave Accounting: N/A | QuickBooks Online: 1 user
Wave Accounting: N/A | QuickBooks Online: 80+
Wave Accounting: N/A | QuickBooks Online: No (add-on $10/user/month)
Wave Accounting: N/A | QuickBooks Online: Limited/Premium plans only
Wave Accounting: N/A | QuickBooks Online: 1-2 hours
Wave Accounting: N/A | QuickBooks Online: iOS, Android (full-featured)
Wave Accounting: N/A | QuickBooks Online: $540/year
Wave Accounting: N/A | QuickBooks Online: Multiple (Online Plus+)
Wave Accounting: N/A | QuickBooks Online: Single entity focus
Wave Accounting: N/A | QuickBooks Online: 2-4 weeks
Wave Accounting: N/A | QuickBooks Online: Up to 500 SKUs
Wave Accounting: N/A | QuickBooks Online: $30/month
Wave Accounting: N/A | QuickBooks Online: No (14-day trial only)
Wave Accounting: N/A | QuickBooks Online: Single currency per company
Wave Accounting: N/A | QuickBooks Online: 10,000+ banks
Wave Accounting: N/A | QuickBooks Online: 500+ integrations
Wave Accounting: N/A | QuickBooks Online: 300,000+ certified
Wave Accounting: N/A | QuickBooks Online: iOS & Android
Wave Accounting: N/A | QuickBooks Online: 50+ customizable reports
Wave Accounting: N/A | QuickBooks Online: Unlimited custom templates
Wave Accounting: N/A | QuickBooks Online: Advanced (recurring transactions, bill pay, expense automation)
Wave Accounting: N/A | QuickBooks Online: Full accounting, reporting, and transaction management
Wave Accounting: N/A | QuickBooks Online: $180-$2400
Wave Accounting: N/A | QuickBooks Online: $15/month
Wave Accounting: N/A | QuickBooks Online: 4.6 million
Wave Accounting: N/A | QuickBooks Online: 3 users (Essentials plan)
Wave Accounting: N/A | QuickBooks Online: 500+
Wave Accounting: N/A | QuickBooks Online: Full invoicing + real-time sync
Wave Accounting: N/A | QuickBooks Online: 5 standard roles
Wave Accounting: N/A | QuickBooks Online: 3-5 days
Wave Accounting: N/A | QuickBooks Online: 99.9%
Wave Accounting: N/A | QuickBooks Online: $35
Wave Accounting: N/A | QuickBooks Online: 4.5M
Wave Accounting: N/A | QuickBooks Online: 4.2/5
Wave Accounting: N/A | QuickBooks Online: 1 (U.S. primary)
Wave Accounting: N/A | QuickBooks Online: 10,000
Wave Accounting: N/A | QuickBooks Online: 50 (Mon-Fri, 9am-6pm ET)
Wave Accounting: N/A | QuickBooks Online: Native (Payroll Plus plan included)
Wave Accounting: N/A | QuickBooks Online: 4.6/5 (89,000 reviews)
Wave Accounting: N/A | QuickBooks Online: Limited: invoice viewing only
Wave Accounting: N/A | QuickBooks Online: Yes, native QuickBooks Payroll
Wave Accounting: N/A | QuickBooks Online: 5-7 days
Wave Accounting: N/A | QuickBooks Online: Up to 10
Wave Accounting: N/A | QuickBooks Online: 1-2 weeks
Wave Accounting: N/A | QuickBooks Online: 900+
Wave Accounting: N/A | QuickBooks Online: Basic (serial/lot tracking, stock transfers)
Average Total Cost of Ownership (Year 1)
Wave Accounting: N/A | QuickBooks Online: $600-$1,200
Wave Accounting: N/A | QuickBooks Online: $15
Wave Accounting: N/A | QuickBooks Online: $55 (Plus)
Wave Accounting: N/A | QuickBooks Online: 80%
Wave Accounting: N/A | QuickBooks Online: Single currency per file
Wave Accounting: N/A | QuickBooks Online: 80+ templates
Wave Accounting: N/A | QuickBooks Online: None
Wave Accounting: N/A | QuickBooks Online: $15/month (Self-Employed)
Wave Accounting: N/A | QuickBooks Online: $55/month (Plus plan)
Wave Accounting: N/A | QuickBooks Online: 3 users (Self-Employed plan)
Payroll Module Cost (Per Employee/Month)
Wave Accounting: N/A | QuickBooks Online: Included in Plus plan ($55/month)
Wave Accounting: N/A | QuickBooks Online: Automatic (10,000+ institutions)
Wave Accounting: N/A | QuickBooks Online: Available (Paid app)
Max Client Accounts (Accountant Edition)
Wave Accounting: N/A | QuickBooks Online: 50+ simultaneous
Wave Accounting: N/A | QuickBooks Online: Native with tax calculations
How to choose between Wave Accounting and QuickBooks Online
Compare Wave Accounting vs QuickBooks Online
Wave Accounting vs QuickBooks Online — Structured Comparison Data
Machine-readable comparison dataset for Wave Accounting vs QuickBooks Online. Contains 107 attribute comparisons, 4 FAQ pairs.
Wave Accounting vs QuickBooks Online — Attribute Category Vocabulary
Taxonomy of attribute categories used to classify comparison data for Wave Accounting vs QuickBooks Online.
Wave's core accounting and invoicing are genuinely free with no hidden subscription. You pay only when you process payments (2.9% + $0.60 per credit card transaction; 1% for ACH bank transfers, minimum $1) or add payroll ($20/month + $6/employee). Wave Pro ($16/month) adds receipt scanning, auto-reminders, and bank reconciliation automation.
No — Wave does not have built-in inventory management. If your business tracks products, stock levels, COGS by item, or needs purchase orders, you'll need QuickBooks Plus or a dedicated inventory app like Cin7 or TradeGecko integrated with your accounting software.
Which do accountants prefer, QuickBooks or Wave?
Accountants overwhelmingly prefer QuickBooks Online — over 600,000 accountants are QuickBooks ProAdvisor certified. Most small business CPAs and bookkeepers default to QBO for client work. While Wave can export reports and CSV data, accountants working directly with client books will typically request a QuickBooks migration if the business grows beyond micro-scale.
Is QuickBooks worth it for a freelancer?
For a solo freelancer with simple income/expense tracking and basic invoicing, Wave's free tier is usually sufficient. QuickBooks Simple Start ($35/month) adds value for freelancers needing mileage tracking, 1099 contractor management, or who work with a bookkeeper. The Simple Start plan pays for itself if it saves 1-2 hours of accounting time per month.
How to Choose Between Wave Accounting and QuickBooks Online
Monthly Cost: Wave Accounting has Free, while QuickBooks Online has $30-$200/month.
Payroll Processing: Wave Accounting has Paid add-on ($20-$50/month per employee), while QuickBooks Online has Included in all paid plans.
Multi-User Access: Wave Accounting has Limited (1 user on free plan), while QuickBooks Online has Unlimited users (higher tiers).
Bank Reconciliation: Wave Accounting has Manual reconciliation only, while QuickBooks Online has Automated reconciliation with SmartMatch.
Third-Party App Integrations: Wave Accounting has 50+ integrations, while QuickBooks Online has 750+ integrations via app store.
Invoice Customization: Wave Accounting has Basic templates with limited branding, while QuickBooks Online has Advanced customization with logos and color schemes.
Mobile App Rating (iOS): Wave Accounting has 4.2/5 stars (8,400 reviews), while QuickBooks Online has 4.5/5 stars (12,300 reviews).
Wave Accounting is better than QuickBooks Online