software
Wave vs QuickBooks 2026: Free vs Premium
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
Free cloud accounting software for freelancers and small businesses with invoicing and expense tracking.
Solo freelancers, startups, and small businesses under $100K revenue with minimal accounting complexity
Score71%
VS
QO
QuickBooks Online
US-dominant accounting platform with comprehensive tax compliance and accountant tools.
Growing businesses with $100K+ revenue, multiple employees, payroll needs, and complex integrations
Score71%
Quick Answer
AI SummaryWave 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.
Our Verdict
AI-assistedChoose 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.
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Wave
6.4/10
QuickBooks Online
8.6/10
Q
Choose Wave if
Solo freelancers, startups, and small businesses under $100K revenue with minimal accounting complexity
Q
Choose QuickBooks Online if
Best pickGrowing businesses with $100K+ revenue, multiple employees, payroll needs, and complex integrations
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Key Differences at a Glance
- Price (Entry-Level Monthly Cost):✓ Wave wins(Free vs $15/month (QuickBooks Self-Employed))
- Automated Bank Feeds & Categorization:Supported (Free) vs Supported (All paid plans)
- Advanced Financial Reporting:✓ QuickBooks Online wins(50+ customizable reports vs Basic P&L and Balance Sheet)
Key Facts & Figures
99 numeric metrics compared
| Metric | Wave | QuickBooks Online | Ratio |
|---|---|---|---|
| Monthly Cost (Starter Plan)(USD) | Free | — | — |
| Currency Support(currencies) | 1 currency | Limited USD focus | |
| Free Plan Cost(USD/month) | $0/month (full features) | — | — |
| Entry-Level Paid Plan(USD/month) | $20/month (Wave Money) | — | — |
| Starting Price (Monthly)(USD) | Free | — | — |
| Available Integrations(count) | 40+ | — | — |
| Financial Report Types(types) | 4 basic reports | — | — |
| Free Trial Period(days) | Permanent (no expiry) | 30 | — |
| Base Monthly Cost (Entry Plan)(USD) | $0/month | — | — |
| Maximum Monthly Plan Cost(USD) | $15/month (payroll add-on) | — | — |
| Number of Available Integrations(count) | 100+ integrations | — | — |
| Proposal & Contract Templates Included(count) | 0 (third-party tools required) | — | — |
| Registered User Base(millions) | 5+ million | — | — |
| Starting Monthly Cost(USD) | Free forever | — | — |
| Invoice Templates Available(count) | 20+ templates | 80+ templates | |
| Monthly Cost (Basic Plan)(USD) | Free | — | — |
| Annual Cost (Recommended Plan)(USD) | $0/year | — | — |
| Financial Reports Available(count) | 8 standard reports | 50+ customizable reports | |
| Concurrent Users (Free Tier)(users) | Unlimited | — | — |
| Mobile App iOS Rating(stars) | 4.3/5 (8,900+ reviews) | — | — |
| Bank Connection Speed(days) | 1 day (real-time) | — | — |
| Base Annual Cost(USD) | $0 | — | — |
| Monthly Cost (Entry Plan)(USD) | $0 | — | — |
| Invoice Templates(count) | 3 templates | Unlimited custom templates | |
| Automation Rules(count) | 0 (manual only) | — | — |
| Third-Party Integrations(count) | 150+ integrations | 650+ | |
| Mobile App Rating(stars) | 4.2/5 (15,000 reviews) | 4.6/5 (89,000 reviews) | |
| Concurrent Users Supported(users) | 1-2 effectively | Unlimited | |
| Annual Cost (Budget Business)(USD) | $0-$240 (optional add-ons) | $180-$2400 | |
| Base Monthly Cost(USD) | $0 | $30 (Simple Start) | |
| Number of Integrations(integrations) | 100+ | — | — |
| Supported Currencies(count) | 1 (USD or CAD) | Single currency per file | |
| Users on Free/Base Plan(users) | 2 users | — | — |
| Custom Financial Reports(count) | 8 standard reports | — | — |
| Bank Feed Automation(hours saved/month) | Basic reconciliation | — | — |
| Invoice Limit (Free Plan)(count) | Unlimited | — | — |
| Maximum Supported Currencies(currencies) | 5 currencies | — | — |
| App Store Rating (iOS)(stars) | 4.2/5 | — | — |
| Integrated Third-Party Apps(apps) | 100+ integrations | — | — |
| Number of Supported Currencies(currencies) | 1 (local only) | Multiple (Online Plus+) | |
| Annual Cost (Entry Level)(USD) | $0 | — | — |
| Maximum Invoice Amount(USD) | $9,999 | — | — |
| Third-Party App Integrations(count) | 25 integrations | 500+ integrations | |
| Users (Global)(millions) | 3+ million | — | — |
| Base Monthly Cost (Entry Level)(USD/month) | $0 (Free) | $15/month (Self-Employed) | |
| Most Useful Plan Price(USD/month) | $10-40/month (with optional add-ons) | $55/month (Plus plan) | |
| Simultaneous Users (Free/Base Plan)(users) | 1 user | 3 users (Self-Employed plan) | |
| Payroll Module Cost (Per Employee/Month)(USD/month) | $15-40 (add-on only) | Included in Plus plan ($55/month) | |
| Number of User Accounts(users) | 3+ (scalable) | 3+ (scalable) | |
| Maximum User Capacity (Advanced Tier)(users) | 25 users | 25 users | |
| Starting Monthly Price(USD) | $30 | $30 | |
| Countries Supported(countries) | 6 | 6 | |
| US Market Users(millions) | 4.3M | 4.3M | |
| Mobile App Rating (iOS)(stars out of 5) | 4.5/5 | 4.5/5 | |
| API Rate Limits(requests/minute) | 10 | 10 | |
| Maximum Users Included (Basic Plan)(users) | 1 user | 1 user | |
| Available Financial Reports(reports) | 80+ | 80+ | |
| Bank Feed Sync Speed(hours) | 1-2 hours | 1-2 hours | |
| Starting Annual Price(USD) | $540/year | $540/year | |
| Maximum Subsidiary Support(subsidiaries) | Single entity focus | Single entity focus | |
| Average Implementation Time(days) | 2-4 weeks | 2-4 weeks | |
| Inventory SKU Handling Limit(SKUs) | Up to 500 SKUs | Up to 500 SKUs | |
| Entry-Level Monthly Price(USD) | $30/month | $30/month | |
| Currencies Supported(currencies) | Single currency per company | Single currency per company | |
| US Bank Connections(institutions) | 10,000+ banks | 10,000+ banks | |
| Maximum Users on Starter Plan(users) | 1 user | 1 user | |
| Accountant/Bookkeeper Network Size(professionals) | 300,000+ certified | 300,000+ certified | |
| Monthly Subscription Starting Price(USD) | $15/month | $15/month | |
| Global Active Users(millions) | 4.6 million | 4.6 million | |
| Third-Party Integrations Available(integrations) | 500+ | 500+ | |
| User Role Types Available(roles) | 5 standard roles | 5 standard roles | |
| Average Time to Competency(days) | 3-5 days | 3-5 days | |
| System Uptime SLA(percent) | 99.9% | 99.9% | |
| Starting Monthly Price (USD)(USD) | $35 | $35 | |
| Global User Base(millions) | 4.5M | 4.5M | |
| Mobile App Rating (iOS/Android)(stars) | 4.2/5 | 4.2/5 | |
| Countries/Regions Supported(countries) | 1 (U.S. primary) | 1 (U.S. primary) | |
| API Free Tier Monthly Calls(calls/month) | 10,000 | 10,000 | |
| Number of App Integrations(integrations) | 750+ | 750+ | |
| Concurrent Users (Free/Basic Plan)(users) | 3 users | 3 users | |
| Payroll Feature Cost(USD/month per employee) | Included in plan | Included in plan | |
| Supported Financial Institutions(banks) | 16,000+ global institutions | 16,000+ global institutions | |
| Custom Report Types(report types) | 100+ customizable reports | 100+ customizable reports | |
| Maximum Users on Lowest Plan(users) | 1 user | 1 user | |
| Estimated Setup Time to Proficiency(days) | 5-7 days | 5-7 days | |
| Base Monthly Subscription Cost(USD) | $30 | $30 | |
| Number of Entities Manageable(entities) | Up to 10 | Up to 10 | |
| Implementation Duration(weeks) | 1-2 weeks | 1-2 weeks | |
| Pre-Built Integrations(count) | 900+ | 900+ | |
| API Rate Limit (Calls/Month)(calls) | 10,000 | 10,000 | |
| Average Total Cost of Ownership (Year 1)(USD) | $600-$1,200 | $600-$1,200 | |
| Entry Price Point(USD/month) | $15 | $15 | |
| Mid-Tier Plan Cost(USD/month) | $55 (Plus) | $55 (Plus) | |
| US SMB Market Adoption(percent) | 80% | 80% | |
| Native App Integrations(count) | 650+ | 650+ | |
| Typical Setup Time(days) | 3-5 days | 3-5 days | |
| Monthly Starting Price(USD) | $30 | $30 | |
| API Rate Limit (24-hour)(requests) | 10,000 | 10,000 | |
| Max Client Accounts (Accountant Edition)(clients) | 50+ simultaneous | 50+ simultaneous |
Sourced from publicly available data ·
Key Differences
7 attributes compared head-to-head
QuickBooks Online leads1 tie
QO
4QuickBooks OnlineWave
Attribute
QuickBooks Online
- Free(winner)Price (Entry-Level Monthly Cost)$15/month (QuickBooks Self-Employed)
- Supported (Free)Automated Bank Feeds & CategorizationSupported (All paid plans)
- Basic P&L and Balance SheetAdvanced Financial Reporting50+ customizable reports(winner)
- Wave Payroll ($15-40/month per employee)Payroll Processing IncludedIncluded in Plus plan ($55/month)(winner)
- Limited (Free plan: 1 user)Multi-User AccessUnlimited users (Plus/Advanced plans)(winner)
- 25+ integrationsThird-Party App Integrations500+ integrations(winner)
- Available (Free)(winner)Mobile App Invoice CaptureAvailable (Paid plans)
- Price (Entry-Level Monthly Cost)
Wave
Free(winner)
QuickBooks Online
$15/month (QuickBooks Self-Employed)
- Automated Bank Feeds & Categorization
Wave
Supported (Free)
QuickBooks Online
Supported (All paid plans)
- Advanced Financial Reporting
Wave
Basic P&L and Balance Sheet
QuickBooks Online
50+ customizable reports(winner)
- Payroll Processing Included
Wave
Wave Payroll ($15-40/month per employee)
QuickBooks Online
Included in Plus plan ($55/month)(winner)
- Multi-User Access
Wave
Limited (Free plan: 1 user)
QuickBooks Online
Unlimited users (Plus/Advanced plans)(winner)
- Third-Party App Integrations
Wave
25+ integrations
QuickBooks Online
500+ integrations(winner)
- Mobile App Invoice Capture
Wave
Available (Free)(winner)
QuickBooks Online
Available (Paid plans)
Full Comparison
| Attribute | Wave | QuickBooks Online |
|---|---|---|
| Monthly Cost (Starter Plan)(USD) | Free | — |
| Free Plan Cost(USD/month) | $0/month (full features) | — |
| Entry-Level Paid Plan(USD/month) | $20/month (Wave Money) | — |
| Starting Price (Monthly)(USD) | Free | — |
| Base Monthly Cost (Entry Plan)(USD) | $0/month | — |
Show 22 more attributesMaximum Monthly Plan Cost(USD) $15/month (payroll add-on) — Starting Monthly Cost(USD) Free forever — Free Trial Duration(days) Unlimited (free tier) — Monthly Cost (Basic Plan)(USD) Free — Annual Cost (Recommended Plan)(USD) $0/year — Base Annual Cost(USD) $0 — Monthly Cost (Entry Plan)(USD) $0 — Base Monthly Cost(USD) $0 $30 (Simple Start) Annual Cost (Entry Level)(USD) $0 — Base Monthly Cost (Entry Level)(USD/month) $0 (Free) $15/month (Self-Employed) Most Useful Plan Price(USD/month) $10-40/month (with optional add-ons) $55/month (Plus plan) Starting Monthly Price(USD) $30 — Entry-Level Monthly Price(USD) $30/month — Free Plan Available No (14-day trial only) — Monthly Subscription Starting Price(USD) $15/month — Starting Monthly Price (USD)(USD) $35 — Payroll Feature Cost(USD/month per employee) Included in plan — Base Monthly Subscription Cost(USD) $30 — Entry Price Point(USD/month) $15 — Mid-Tier Plan Cost(USD/month) $55 (Plus) — Free Plan Option(users supported) None — Monthly Starting Price(USD) $30 — | ||
| Currency Support(currencies) | 1 currency | Limited USD focus |
| Inventory Management | Not available | — |
| Invoice Creation Limit (Free)(invoices/month) | Unlimited | — |
| Contract Management | Not available | — |
| Time Tracking Integration | Not available | — |
Show 44 more attributesTime Tracking Capability Manual entry only — Available Integrations(count) 40+ — Financial Report Types(types) 4 basic reports — Number of Available Integrations(count) 100+ integrations — Proposal & Contract Templates Included(count) 0 (third-party tools required) — Client Portal Capabilities(features) Invoice viewing, payment acceptance — Time Tracking Feature(null) Not included Available in higher tiers Invoice Templates Available(count) 20+ templates 80+ templates Built-in Inventory Management No — Time Tracking Hours Capacity(Unlimited/Not Available) Not available — Financial Reports Available(count) 8 standard reports 50+ customizable reports Invoice Templates(count) 3 templates Unlimited custom templates Automation Rules(count) 0 (manual only) — Mobile App Capability Receipt capture and invoice viewing Full accounting, reporting, and transaction management Supported Currencies(count) 1 (USD or CAD) Single currency per file Invoice Limit (Free Plan)(count) Unlimited — Maximum Supported Currencies(currencies) 5 currencies — Number of Supported Currencies(currencies) 1 (local only) Multiple (Online Plus+) Maximum Invoice Amount(USD) $9,999 — Third-Party App Integrations(count) 25 integrations 500+ integrations Simultaneous Users (Free/Base Plan)(users) 1 user 3 users (Self-Employed plan) Bank Feed Integration(null) Automatic (10,000+ institutions) Automatic (10,000+ institutions) Mobile Invoice Capture via Photo(null) Available (Free app) Available (Paid app) Number of User Accounts(users) 3+ (scalable) — Invoicing Capability Yes, included — Approval Workflows Yes (Advanced plan) — Mileage Tracking Yes (Advanced plan) — Payroll Features Available via add-ons — Multi-Entity Support Limited (separate subscriptions) — Native Payroll Integration (US) Built-in — Available Financial Reports(reports) 80+ — Built-in Time Tracking(boolean) No (add-on $10/user/month) — Client Portal Availability Limited/Premium plans only — Mobile App Available iOS & Android — Built-in Payroll Integration(text) Native (Payroll Plus plan included) — Number of App Integrations(integrations) 750+ — Automated Bank Reconciliation Automated (SmartMatch AI) — Supported Financial Institutions(banks) 16,000+ global institutions — Custom Report Types(report types) 100+ customizable reports — Client Portal Features(count) Limited: invoice viewing only — Native Payroll Support Yes, native QuickBooks Payroll — Pre-Built Integrations(count) 900+ — Native App Integrations(count) 650+ — Built-in US Payroll(availability) Native with tax calculations — | ||
| Maximum Users (Free/Starter)(users) | Unlimited users | — |
| Concurrent Users Included(users) | Unlimited users | — |
| Concurrent Users (Free Tier)(users) | Unlimited | — |
| Unlimited Users (Free/Entry Plan)(users) | Yes, unlimited | — |
| Concurrent Users (Free/Basic Plan)(users) | 3 users | — |
| Accounting Standard | Double-entry bookkeeping | — |
| Tax Report Generation | Yes (P&L, balance sheet, tax forms) | — |
| Maximum User Seats Included(users) | Unlimited | — |
| Invoice Payment Processing | Not included (requires separate payment processor) | — |
| Client Portal Feature | Not available | — |
| Free Trial Period(days) | Permanent (no expiry) | 30 |
| Registered User Base(millions) | 5+ million | — |
| Payment Processing Fee(%) | 2.2% + $0.50 per transaction | — |
| Mobile App iOS Rating(stars) | 4.3/5 (8,900+ reviews) | — |
| Mobile App Rating(stars) | 4.2/5 (15,000 reviews) | 4.6/5 (89,000 reviews)(winner) |
| App Store Rating (iOS)(stars) | 4.2/5 | — |
| Mobile App Rating (iOS)(stars out of 5) | 4.5/5 | — |
| Mobile App Rating (iOS/Android)(stars) | 4.2/5 | — |
| Payroll Integration | No | — |
| Payroll Module Cost (Per Employee/Month)(USD/month) | $15-40 (add-on only) | Included in Plus plan ($55/month)(winner) |
| Bank Connection Speed(days) | 1 day (real-time) | — |
| Maximum User Accounts(users) | Unlimited | — |
| Concurrent Users Supported(users) | 1-2 effectively | Unlimited(winner) |
| Maximum User Capacity (Advanced Tier)(users) | 25 users | — |
| Maximum Users Included (Basic Plan)(users) | 1 user | — |
| Maximum Users on Starter Plan(users) | 1 user | — |
Show 2 more attributesMaximum Users on Lowest Plan(users) 1 user — Maximum Users (Standard Plan)(users) Unlimited — | ||
| Third-Party Integrations(count) | 150+ integrations | 650+(winner) |
| Integrated Third-Party Apps(apps) | 100+ integrations | — |
| API Rate Limits(requests/minute) | 10 | — |
| US Bank Connections(institutions) | 10,000+ banks | — |
| Automated Workflows(null) | Basic (invoicing only) | Advanced (recurring transactions, bill pay, expense automation) |
| Bank Feed Automation(hours saved/month) | Basic reconciliation | — |
| Annual Cost (Budget Business)(USD) | $0-$240 (optional add-ons)(winner) | $180-$2400 |
| Number of Integrations(integrations) | 100+ | — |
| Inventory Features Depth(feature count) | Basic (serial/lot tracking, stock transfers) | — |
| Users on Free/Base Plan(users) | 2 users | — |
| Maximum Simultaneous Users(users) | 3 users (Essentials plan) | — |
| Custom Financial Reports(count) | 8 standard reports | — |
| Mobile App Functionality(capabilities) | Full accounting and invoicing | — |
| Customer Support Availability(hours/week) | Email only | — |
| Live Customer Support | Phone, chat, and expert-assisted | — |
| Accountant/Bookkeeper Network Size(professionals) | 300,000+ certified | — |
| Customer Support Hours(hours/week) | 50 (Mon-Fri, 9am-6pm ET) | — |
| Payment Processing Fees(%) | 2.2% + $0.50 | — |
| Users (Global)(millions) | 3+ million | — |
| AI Automation Growth (YoY)(%) | Enhanced 2026 features | — |
| Expense Tracking Support Score(%) | Strong integration | — |
| US Tax & Payroll Integration Strength | Deepest in market | — |
| Accountant Platform Included | Free (QBO Accountant) | — |
| Max Client Accounts (Accountant Edition)(clients) | 50+ simultaneous | — |
| Market Position for eCommerce | Industry-leading recommendation | — |
| Unlimited Users Included(count) | Unlimited per plan tier | — |
| Invoicing Capacity(invoices) | Unlimited | — |
| AI & Automation Tools(count) | Advanced (Intuit Intelligence, Tax AI beta, batch processing) | — |
| Double-Entry Accounting(boolean) | Supported with advanced workflows | — |
| Countries Supported(countries) | 6 | — |
| Countries/Regions Supported(countries) | 1 (U.S. primary) | — |
| US Market Users(millions) | 4.3M | — |
| US SMB Market Adoption(percent) | 80% | — |
| Bank Feed Sync Speed(hours) | 1-2 hours | — |
| Mobile App Availability(platforms) | iOS, Android (full-featured) | — |
| Starting Annual Price(USD) | $540/year | — |
| Maximum Subsidiary Support(subsidiaries) | Single entity focus | — |
| Average Implementation Time(days) | 2-4 weeks | — |
| Typical Setup Time(days) | 3-5 days | — |
| Inventory SKU Handling Limit(SKUs) | Up to 500 SKUs | — |
| User Seats (Mid-tier plan)(users) | Unlimited | — |
| Currencies Supported(currencies) | Single currency per company | — |
| Global Active Users(millions) | 4.6 million | — |
| Third-Party Integrations Available(integrations) | 500+ | — |
| Mobile App Invoice Creation(capability) | Full invoicing + real-time sync | — |
| User Role Types Available(roles) | 5 standard roles | — |
| Average Time to Competency(days) | 3-5 days | — |
| System Uptime SLA(percent) | 99.9% | — |
| Global User Base(millions) | 4.5M | — |
| Multi-Currency Support(currencies) | 160 (limited real-time conversion) | — |
| API Free Tier Monthly Calls(calls/month) | 10,000 | — |
| API Rate Limit (24-hour)(requests) | 10,000 | — |
| Estimated Setup Time to Proficiency(days) | 5-7 days | — |
| Number of Entities Manageable(entities) | Up to 10 | — |
| Implementation Duration(weeks) | 1-2 weeks | — |
| API Rate Limit (Calls/Month)(calls) | 10,000 | — |
| Average Total Cost of Ownership (Year 1)(USD) | $600-$1,200 | — |
WaveQQuickBooks Online
Monthly Cost (Starter Plan)(USD)
Free
—
Free Plan Cost(USD/month)
$0/month (full features)
—
Entry-Level Paid Plan(USD/month)
$20/month (Wave Money)
—
Starting Price (Monthly)(USD)
Free
—
Base Monthly Cost (Entry Plan)(USD)
$0/month
—
Show 22 more attributes
Maximum Monthly Plan Cost(USD)
$15/month (payroll add-on)
—
Starting Monthly Cost(USD)
Free forever
—
Free Trial Duration(days)
Unlimited (free tier)
—
Monthly Cost (Basic Plan)(USD)
Free
—
Annual Cost (Recommended Plan)(USD)
$0/year
—
Base Annual Cost(USD)
$0
—
Monthly Cost (Entry Plan)(USD)
$0
—
Base Monthly Cost(USD)
$0
$30 (Simple Start)
Annual Cost (Entry Level)(USD)
$0
—
Base Monthly Cost (Entry Level)(USD/month)
$0 (Free)
$15/month (Self-Employed)
Most Useful Plan Price(USD/month)
$10-40/month (with optional add-ons)
$55/month (Plus plan)
Starting Monthly Price(USD)
$30
—
Entry-Level Monthly Price(USD)
$30/month
—
Free Plan Available
No (14-day trial only)
—
Monthly Subscription Starting Price(USD)
$15/month
—
Starting Monthly Price (USD)(USD)
$35
—
Payroll Feature Cost(USD/month per employee)
Included in plan
—
Base Monthly Subscription Cost(USD)
$30
—
Entry Price Point(USD/month)
$15
—
Mid-Tier Plan Cost(USD/month)
$55 (Plus)
—
Free Plan Option(users supported)
None
—
Monthly Starting Price(USD)
$30
—
Currency Support(currencies)
1 currency
Limited USD focus
Inventory Management
Not available
—
Invoice Creation Limit (Free)(invoices/month)
Unlimited
—
Contract Management
Not available
—
Time Tracking Integration
Not available
—
Show 44 more attributes
Time Tracking Capability
Manual entry only
—
Available Integrations(count)
40+
—
Financial Report Types(types)
4 basic reports
—
Number of Available Integrations(count)
100+ integrations
—
Proposal & Contract Templates Included(count)
0 (third-party tools required)
—
Client Portal Capabilities(features)
Invoice viewing, payment acceptance
—
Time Tracking Feature(null)
Not included
Available in higher tiers
Invoice Templates Available(count)
20+ templates
80+ templates
Built-in Inventory Management
No
—
Time Tracking Hours Capacity(Unlimited/Not Available)
Not available
—
Financial Reports Available(count)
8 standard reports
50+ customizable reports
Invoice Templates(count)
3 templates
Unlimited custom templates
Automation Rules(count)
0 (manual only)
—
Mobile App Capability
Receipt capture and invoice viewing
Full accounting, reporting, and transaction management
Supported Currencies(count)
1 (USD or CAD)
Single currency per file
Invoice Limit (Free Plan)(count)
Unlimited
—
Maximum Supported Currencies(currencies)
5 currencies
—
Number of Supported Currencies(currencies)
1 (local only)
Multiple (Online Plus+)
Maximum Invoice Amount(USD)
$9,999
—
Third-Party App Integrations(count)
25 integrations
500+ integrations
Simultaneous Users (Free/Base Plan)(users)
1 user
3 users (Self-Employed plan)
Bank Feed Integration(null)
Automatic (10,000+ institutions)
Automatic (10,000+ institutions)
Mobile Invoice Capture via Photo(null)
Available (Free app)
Available (Paid app)
Number of User Accounts(users)
3+ (scalable)
—
Invoicing Capability
Yes, included
—
Approval Workflows
Yes (Advanced plan)
—
Mileage Tracking
Yes (Advanced plan)
—
Payroll Features
Available via add-ons
—
Multi-Entity Support
Limited (separate subscriptions)
—
Native Payroll Integration (US)
Built-in
—
Available Financial Reports(reports)
80+
—
Built-in Time Tracking(boolean)
No (add-on $10/user/month)
—
Client Portal Availability
Limited/Premium plans only
—
Mobile App Available
iOS & Android
—
Built-in Payroll Integration(text)
Native (Payroll Plus plan included)
—
Number of App Integrations(integrations)
750+
—
Automated Bank Reconciliation
Automated (SmartMatch AI)
—
Supported Financial Institutions(banks)
16,000+ global institutions
—
Custom Report Types(report types)
100+ customizable reports
—
Client Portal Features(count)
Limited: invoice viewing only
—
Native Payroll Support
Yes, native QuickBooks Payroll
—
Pre-Built Integrations(count)
900+
—
Native App Integrations(count)
650+
—
Built-in US Payroll(availability)
Native with tax calculations
—
Maximum Users (Free/Starter)(users)
Unlimited users
—
Concurrent Users Included(users)
Unlimited users
—
Concurrent Users (Free Tier)(users)
Unlimited
—
Unlimited Users (Free/Entry Plan)(users)
Yes, unlimited
—
Concurrent Users (Free/Basic Plan)(users)
3 users
—
Accounting Standard
Double-entry bookkeeping
—
Tax Report Generation
Yes (P&L, balance sheet, tax forms)
—
Maximum User Seats Included(users)
Unlimited
—
Invoice Payment Processing
Not included (requires separate payment processor)
—
Client Portal Feature
Not available
—
Free Trial Period(days)
Permanent (no expiry)
30
Registered User Base(millions)
5+ million
—
Payment Processing Fee(%)
2.2% + $0.50 per transaction
—
Mobile App iOS Rating(stars)
4.3/5 (8,900+ reviews)
—
Mobile App Rating(stars)
4.2/5 (15,000 reviews)
4.6/5 (89,000 reviews)
App Store Rating (iOS)(stars)
4.2/5
—
Mobile App Rating (iOS)(stars out of 5)
4.5/5
—
Mobile App Rating (iOS/Android)(stars)
4.2/5
—
Payroll Integration
No
—
Payroll Module Cost (Per Employee/Month)(USD/month)
$15-40 (add-on only)
Included in Plus plan ($55/month)
Bank Connection Speed(days)
1 day (real-time)
—
Maximum User Accounts(users)
Unlimited
—
Concurrent Users Supported(users)
1-2 effectively
Unlimited
Maximum User Capacity (Advanced Tier)(users)
25 users
—
Maximum Users Included (Basic Plan)(users)
1 user
—
Maximum Users on Starter Plan(users)
1 user
—
Show 2 more attributes
Maximum Users on Lowest Plan(users)
1 user
—
Maximum Users (Standard Plan)(users)
Unlimited
—
Third-Party Integrations(count)
150+ integrations
650+
Integrated Third-Party Apps(apps)
100+ integrations
—
API Rate Limits(requests/minute)
10
—
US Bank Connections(institutions)
10,000+ banks
—
Automated Workflows(null)
Basic (invoicing only)
Advanced (recurring transactions, bill pay, expense automation)
Bank Feed Automation(hours saved/month)
Basic reconciliation
—
Annual Cost (Budget Business)(USD)
$0-$240 (optional add-ons)
$180-$2400
Number of Integrations(integrations)
100+
—
Inventory Features Depth(feature count)
Basic (serial/lot tracking, stock transfers)
—
Users on Free/Base Plan(users)
2 users
—
Maximum Simultaneous Users(users)
3 users (Essentials plan)
—
Custom Financial Reports(count)
8 standard reports
—
Mobile App Functionality(capabilities)
Full accounting and invoicing
—
Customer Support Availability(hours/week)
Email only
—
Live Customer Support
Phone, chat, and expert-assisted
—
Accountant/Bookkeeper Network Size(professionals)
300,000+ certified
—
Customer Support Hours(hours/week)
50 (Mon-Fri, 9am-6pm ET)
—
Payment Processing Fees(%)
2.2% + $0.50
—
Users (Global)(millions)
3+ million
—
AI Automation Growth (YoY)(%)
Enhanced 2026 features
—
Expense Tracking Support Score(%)
Strong integration
—
US Tax & Payroll Integration Strength
Deepest in market
—
Accountant Platform Included
Free (QBO Accountant)
—
Max Client Accounts (Accountant Edition)(clients)
50+ simultaneous
—
Market Position for eCommerce
Industry-leading recommendation
—
Unlimited Users Included(count)
Unlimited per plan tier
—
Invoicing Capacity(invoices)
Unlimited
—
AI & Automation Tools(count)
Advanced (Intuit Intelligence, Tax AI beta, batch processing)
—
Double-Entry Accounting(boolean)
Supported with advanced workflows
—
Countries Supported(countries)
6
—
Countries/Regions Supported(countries)
1 (U.S. primary)
—
US Market Users(millions)
4.3M
—
US SMB Market Adoption(percent)
80%
—
Bank Feed Sync Speed(hours)
1-2 hours
—
Mobile App Availability(platforms)
iOS, Android (full-featured)
—
Starting Annual Price(USD)
$540/year
—
Maximum Subsidiary Support(subsidiaries)
Single entity focus
—
Average Implementation Time(days)
2-4 weeks
—
Typical Setup Time(days)
3-5 days
—
Inventory SKU Handling Limit(SKUs)
Up to 500 SKUs
—
User Seats (Mid-tier plan)(users)
Unlimited
—
Currencies Supported(currencies)
Single currency per company
—
Global Active Users(millions)
4.6 million
—
Third-Party Integrations Available(integrations)
500+
—
Mobile App Invoice Creation(capability)
Full invoicing + real-time sync
—
User Role Types Available(roles)
5 standard roles
—
Average Time to Competency(days)
3-5 days
—
System Uptime SLA(percent)
99.9%
—
Global User Base(millions)
4.5M
—
Multi-Currency Support(currencies)
160 (limited real-time conversion)
—
API Free Tier Monthly Calls(calls/month)
10,000
—
API Rate Limit (24-hour)(requests)
10,000
—
Estimated Setup Time to Proficiency(days)
5-7 days
—
Number of Entities Manageable(entities)
Up to 10
—
Implementation Duration(weeks)
1-2 weeks
—
API Rate Limit (Calls/Month)(calls)
10,000
—
Average Total Cost of Ownership (Year 1)(USD)
$600-$1,200
—
Pros & Cons
10 pros·4 cons across both
QO
Wave
+5-2
Pros
- Completely free accounting, invoicing, and receipt scanning with no credit card required
- Mobile app supports photo-based invoice capture and real-time expense categorization
- Automatic bank and credit card feed integration across 10,000+ financial institutions
- Wave Payroll add-on available at $15-40/month per employee (cheaper than QuickBooks)
- Unlimited invoices, expenses, and financial reports on free plan
Cons
- Limited to 1 user on free tier; additional users require paid upgrade ($5-15/month)
- Reporting capabilities are basic compared to QuickBooks; no custom report builder
QO
QuickBooks Online
+5-2
Pros
- 50+ customizable financial reports including profit and loss, cash flow, and tax reports
- Unlimited multi-user access on Plus and Advanced plans ($55-200/month)
- Integrated payroll on Plus plan ($55/month); no separate add-on cost
- 500+ third-party integrations including Shopify, Stripe, HubSpot, and Salesforce
- Advanced automation rules for recurring transactions, invoice reminders, and bill payments
Cons
- Minimum cost of $15/month for Self-Employed plan; most useful plans start at $55/month
- Steeper learning curve than Wave; more features require training or onboarding
Frequently Asked Questions
5 questions
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.
Resources & Learn More
Curated sources to dive deeper
Where to Buy
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Wikipedia
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