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
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.
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.
Structured comparison data for Wave vs QuickBooks with 161 attributes.
Payroll Module Cost (Per Employee/Month)
Average Total Cost of Ownership (Year 1)
Max Client Accounts (Accountant Edition)
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.