Wave is a free cloud-based accounting software ideal for small businesses and freelancers with basic needs, while QuickBooks is a paid, more feature-rich platform designed for growing companies requiring advanced reporting, automation, and integrations. QuickBooks costs $15-$200/month depending on the plan, whereas Wave's core accounting is completely free with optional paid add-ons starting at $10/month.
Wave vs QuickBooks — Side-by-side comparison on A Versus B
Free cloud accounting software for freelancers and small businesses with invoicing and expense tracking.
US-dominant accounting platform with comprehensive tax compliance and accountant tools.
Price (Entry-Level Monthly Cost). Automated Bank Feeds & Categorization. Advanced Financial Reporting. Payroll Processing Included. Multi-User Access. Third-Party App Integrations. Mobile App Invoice Capture
Choose Wave if you're a solo freelancer, small business, or startup with under $100K annual revenue and need zero-cost accounting with invoice and expense tracking. Choose QuickBooks if your business is growing, requires payroll, multiple team members, advanced reporting, or needs deep integrations with e-commerce platforms and CRM systems—the advanced features justify the $55-200/month investment.
Wave: 1 currency | QuickBooks Online: Limited USD focus
Wave: Unlimited users | QuickBooks Online: N/A
Wave: Not available | QuickBooks Online: N/A
Wave: $0/month (full features) | QuickBooks Online: N/A
Wave: $20/month (Wave Money) | QuickBooks Online: N/A
Wave: Unlimited | QuickBooks Online: N/A
Wave: Double-entry bookkeeping | QuickBooks Online: N/A
Wave: Yes (P&L, balance sheet, tax forms) | QuickBooks Online: N/A
Wave: Manual entry only | QuickBooks Online: N/A
Wave: Not included (requires separate payment processor) | QuickBooks Online: N/A
Wave: 4 basic reports | QuickBooks Online: N/A
Wave: Permanent (no expiry) | QuickBooks Online: 30
Wave: $15/month (payroll add-on) | QuickBooks Online: N/A
Wave: 100+ integrations | QuickBooks Online: N/A
Wave: 0 (third-party tools required) | QuickBooks Online: N/A
Wave: Invoice viewing, payment acceptance | QuickBooks Online: N/A
Wave: Not included | QuickBooks Online: Available in higher tiers
Wave: 5+ million | QuickBooks Online: N/A
Wave: Free forever | QuickBooks Online: N/A
Wave: 20+ templates | QuickBooks Online: 80+ templates
Wave: 2.2% + $0.50 per transaction | QuickBooks Online: N/A
Wave: Unlimited (free tier) | QuickBooks Online: N/A
Wave: 8 standard reports | QuickBooks Online: 50+ customizable reports
Wave: 4.3/5 (8,900+ reviews) | QuickBooks Online: N/A
Wave: 1 day (real-time) | QuickBooks Online: N/A
Wave: 3 templates | QuickBooks Online: Unlimited custom templates
Wave: 0 (manual only) | QuickBooks Online: N/A
Wave: 150+ integrations | QuickBooks Online: 650+
Wave: 4.2/5 (15,000 reviews) | QuickBooks Online: 4.6/5 (89,000 reviews)
Wave: 1-2 effectively | QuickBooks Online: Unlimited
Wave: Basic (invoicing only) | QuickBooks Online: Advanced (recurring transactions, bill pay, expense automation)
Wave: Receipt capture and invoice viewing | QuickBooks Online: Full accounting, reporting, and transaction management
Wave: $0-$240 (optional add-ons) | QuickBooks Online: $180-$2400
Wave: $0 | QuickBooks Online: $30 (Simple Start)
Wave: 1 (USD or CAD) | QuickBooks Online: Single currency per file
Wave: 8 standard reports | QuickBooks Online: N/A
Wave: Full accounting and invoicing | QuickBooks Online: N/A
Wave: Basic reconciliation | QuickBooks Online: N/A
Wave: 5 currencies | QuickBooks Online: N/A
Wave: Yes, unlimited | QuickBooks Online: N/A
Wave: Email only | QuickBooks Online: N/A
Wave: 1 (local only) | QuickBooks Online: Multiple (Online Plus+)
Wave: 2.2% + $0.50 | QuickBooks Online: N/A
Wave: 25 integrations | QuickBooks Online: 500+ integrations
Wave: 3+ million | QuickBooks Online: N/A
Wave: $0 (Free) | QuickBooks Online: $15/month (Self-Employed)
Wave: $10-40/month (with optional add-ons) | QuickBooks Online: $55/month (Plus plan)
Wave: 1 user | QuickBooks Online: 3 users (Self-Employed plan)
Payroll Module Cost (Per Employee/Month)
Wave: $15-40 (add-on only) | QuickBooks Online: Included in Plus plan ($55/month)
Wave: Automatic (10,000+ institutions) | QuickBooks Online: Automatic (10,000+ institutions)
Wave: Available (Free app) | QuickBooks Online: Available (Paid app)
Wave: N/A | QuickBooks Online: 3+ (scalable)
Wave: N/A | QuickBooks Online: Yes, included
Wave: N/A | QuickBooks Online: Phone, chat, and expert-assisted
Wave: N/A | QuickBooks Online: Yes (Advanced plan)
Wave: N/A | QuickBooks Online: Available via add-ons
Wave: N/A | QuickBooks Online: Enhanced 2026 features
Wave: N/A | QuickBooks Online: Limited (separate subscriptions)
Wave: N/A | QuickBooks Online: Strong integration
Wave: N/A | QuickBooks Online: Deepest in market
Wave: N/A | QuickBooks Online: Free (QBO Accountant)
Wave: N/A | QuickBooks Online: Industry-leading recommendation
Wave: N/A | QuickBooks Online: Unlimited per plan tier
Wave: N/A | QuickBooks Online: Unlimited
Wave: N/A | QuickBooks Online: Advanced (Intuit Intelligence, Tax AI beta, batch processing)
Wave: N/A | QuickBooks Online: Supported with advanced workflows
Wave: N/A | QuickBooks Online: No (add-on $10/user/month)
Wave: N/A | QuickBooks Online: Limited/Premium plans only
Wave: N/A | QuickBooks Online: 1-2 hours
Wave: N/A | QuickBooks Online: iOS, Android (full-featured)
Wave: N/A | QuickBooks Online: $540/year
Wave: N/A | QuickBooks Online: Single entity focus
Wave: N/A | QuickBooks Online: 2-4 weeks
Wave: N/A | QuickBooks Online: Up to 500 SKUs
Wave: N/A | QuickBooks Online: $30/month
Wave: N/A | QuickBooks Online: No (14-day trial only)
Wave: N/A | QuickBooks Online: Single currency per company
Wave: N/A | QuickBooks Online: 10,000+ banks
Wave: N/A | QuickBooks Online: 300,000+ certified
Wave: N/A | QuickBooks Online: iOS & Android
Wave: N/A | QuickBooks Online: $15/month
Wave: N/A | QuickBooks Online: 4.6 million
Wave: N/A | QuickBooks Online: 3 users (Essentials plan)
Wave: N/A | QuickBooks Online: Full invoicing + real-time sync
Wave: N/A | QuickBooks Online: 5 standard roles
Wave: N/A | QuickBooks Online: 1 (U.S. primary)
Wave: N/A | QuickBooks Online: 160 (limited real-time conversion)
Wave: N/A | QuickBooks Online: 50 (Mon-Fri, 9am-6pm ET)
Wave: N/A | QuickBooks Online: Native (Payroll Plus plan included)
Wave: N/A | QuickBooks Online: Automated (SmartMatch AI)
Wave: N/A | QuickBooks Online: Included in plan
Wave: N/A | QuickBooks Online: 16,000+ global institutions
Wave: N/A | QuickBooks Online: 100+ customizable reports
Wave: N/A | QuickBooks Online: Limited: invoice viewing only
Wave: N/A | QuickBooks Online: Yes, native QuickBooks Payroll
Wave: N/A | QuickBooks Online: 1-2 weeks
Wave: N/A | QuickBooks Online: Basic (serial/lot tracking, stock transfers)
Average Total Cost of Ownership (Year 1)
Wave: N/A | QuickBooks Online: $600-$1,200
Wave: N/A | QuickBooks Online: $55 (Plus)
Max Client Accounts (Accountant Edition)
Wave: N/A | QuickBooks Online: 50+ simultaneous
Wave: N/A | QuickBooks Online: Native with tax calculations
How to choose between Wave and QuickBooks Online
Wave vs QuickBooks — Structured Comparison Data
Machine-readable comparison dataset for Wave vs QuickBooks. Contains 161 attribute comparisons, 5 FAQ pairs.
Wave vs QuickBooks — Attribute Category Vocabulary
Taxonomy of attribute categories used to classify comparison data for Wave vs QuickBooks.
Yes, Wave's core accounting, invoicing, and expense tracking are entirely free with no credit card required and no time limits. Optional paid add-ons like Wave Payroll (starting at $15/month per employee) and payment processing fees (2.2% + $0.50 per transaction) are available, but core accounting never expires or downgrades.
No, QuickBooks Online has no free tier. The cheapest plan is Self-Employed at $15/month, which is designed for solo contractors. Small business owners typically choose the Plus plan at $55/month for payroll and multiple users. There is a 30-day free trial available.
Which is better for a growing business with employees?
QuickBooks is better for businesses with employees because payroll is included in the Plus plan ($55/month), whereas Wave charges $15-40 per employee monthly. QuickBooks also supports unlimited users at that price, while Wave limits the free tier to 1 user and charges extra for additional team members.
How many integrations does each platform support?
Wave integrates with approximately 25 apps including Shopify, Stripe, PayPal, and Square. QuickBooks supports 500+ integrations including Shopify, Stripe, HubSpot, Salesforce, Xero connectors, and hundreds of industry-specific tools, making it significantly more flexible for businesses using multiple software platforms.
Which has better reporting for tax preparation?
QuickBooks has superior tax reporting with 50+ customizable reports including detailed P&L by class/location, tax summary reports, and balance sheet aging analysis. Wave provides basic P&L and balance sheet reports suitable for simple businesses but lacks the customization and depth needed for complex tax scenarios or multi-entity accounting.
How to Choose Between Wave and QuickBooks Online
Consider: Price (Entry-Level Monthly Cost)
Price (Entry-Level Monthly Cost): Wave has Free, while QuickBooks Online has $15/month (QuickBooks Self-Employed).
Consider: Automated Bank Feeds & Categorization
Automated Bank Feeds & Categorization: Wave has Supported (Free), while QuickBooks Online has Supported (All paid plans).
Advanced Financial Reporting: Wave has Basic P&L and Balance Sheet, while QuickBooks Online has 50+ customizable reports.
Payroll Processing Included: Wave has Wave Payroll ($15-40/month per employee), while QuickBooks Online has Included in Plus plan ($55/month).
Multi-User Access: Wave has Limited (Free plan: 1 user), while QuickBooks Online has Unlimited users (Plus/Advanced plans).
Third-Party App Integrations: Wave has 25+ integrations, while QuickBooks Online has 500+ integrations.
Mobile App Invoice Capture: Wave has Available (Free), while QuickBooks Online has Available (Paid plans).