Wave

Wave is a free accounting and invoicing platform designed for freelancers, consultants, and micro-businesses that need professional financial tools without a monthly subscription. Founded in 2010 in Toronto and acquired by H&R Block in 2019, Wave offers truly free core accounting — general ledger, income and expense tracking, financial reports, and unlimited invoicing — funded by optional paid add-ons. Wave's invoicing is clean and professional, supporting recurring invoices, automatic payment reminders, and online payment acceptance via Stripe and PayPal (which carry standard processing fees). The free plan has no user limits, no transaction limits, and no feature tiers for accounting. Wave Payroll is a paid add-on at $20/month base plus $6/employee/month in self-service states. Wave Advisors offers access to bookkeeping and accounting professionals. In 2023, Wave launched Wave Money, a small business bank account with a debit card. The platform's primary limitation is that it lacks inventory management, time tracking, and project-based billing — features that FreshBooks and QuickBooks handle. It's also less suited for businesses with complex needs or multiple currencies.