Price Comparison
| Feature | Wave | QuickBooks Simple Start | QuickBooks Plus |
|---|---|---|---|
| Monthly price | $0 free | $30/mo | $90/mo |
| Users | Unlimited | 1 user | 5 users |
| Invoicing | Unlimited, free | Unlimited | Unlimited |
| Expense tracking | Yes | Yes | Yes |
| Bank connections | Yes | Yes | Yes |
| Receipt scanning | Yes (mobile app) | Yes | Yes |
| Inventory tracking | No | No | Yes |
| Payroll | Add-on (paid) | Add-on (paid) | Add-on (paid) |
| Time tracking | No | No | Yes |
| Project profitability | No | No | Yes |
| Advanced reports | Basic only | Standard reports | 50+ reports |
| Phone/chat support | Email only | Yes | Yes |
| Integrations | Limited | 750+ apps | 750+ apps |
Pricing current as of March 2026. Providers frequently update their rates.
The Case for Free: Wave
Wave's value proposition is genuinely compelling for the right business. If you're a freelancer who invoices clients, tracks expenses, connects your bank account, and files your own taxes — Wave does all of that for zero dollars per month. The invoicing tool is clean and professional, the bank sync works reliably, and the mobile app scans receipts.
Wave has processed billions in invoices since launch. It is not a toy — it's a real accounting tool that works well for freelancers and micro-businesses.
When to Pay for QuickBooks
Wave starts showing its limits when your business complexity grows. Here are the clear signals to upgrade:
- You have employees — Wave's payroll add-on is available, but QuickBooks Payroll integration is more powerful and deeply integrated
- You need inventory tracking — Wave has no inventory management. QuickBooks Plus tracks inventory, cost of goods, and reorder points
- Your accountant uses QuickBooks — 80% of US accountants work in QuickBooks. Sending Wave files to a QB-only accountant creates friction
- You need advanced reports — Profit & Loss by class, project profitability, custom reporting all require QuickBooks
- You're growing fast — QuickBooks scales better and integrates with more advanced tools as you grow
Hidden Costs of Wave
Wave is free, but some add-ons cost money. Wave Payments charges 2.9% + $0.60 for credit card transactions (higher than Stripe or Square). Wave Payroll costs $20/month plus $6/employee. And Wave Pro — a premium tier — adds $16/month for auto-import and priority support.
These are all opt-in, so Wave can truly cost $0 if you only use the accounting features and handle payments separately via Stripe or Square.
Migration Path from Wave to QuickBooks
When you're ready to migrate, Wave exports your data as a CSV. QuickBooks has an import tool, but migration is not automatic — you'll spend 2-4 hours reconfiguring your chart of accounts, importing transactions, and reconnecting bank accounts. This is one reason to consider starting with QuickBooks if you're growing fast — migrating later is a hassle.
Wave Pros
- ✓Completely free core features — no trial, no credit card needed
- ✓Unlimited invoicing and expense tracking at no cost
- ✓Clean, easy-to-use interface — no accounting degree needed
- ✓Unlimited users on free plan
- ✓Receipt scanning mobile app included
Wave Cons
- ✕No inventory tracking — a dealbreaker for product businesses
- ✕Email-only customer support — no phone or live chat
- ✕Limited reporting vs QuickBooks or Xero
- ✕Fewer integrations — less compatible with other business tools
- ✕Less familiar to US accountants than QuickBooks
QuickBooks Pros
- ✓Industry-leading payroll integration
- ✓Advanced inventory tracking
- ✓750+ third-party app integrations
- ✓Robust reporting and custom dashboards
- ✓Strong multi-user permissions
- ✓Excellent accountant collaboration tools
QuickBooks Cons
- ✕Expensive — plans range from $30-200/month
- ✕Frequent price increases
- ✕Can feel bloated for very simple businesses
- ✕Customer support quality is inconsistent
- ✕File size can slow down over time
Wave for Freelancers. QuickBooks When You're Growing.
If you're a freelancer, solopreneur, or very small business with simple bookkeeping needs — start with Wave. It's free, capable, and you can always upgrade. Once you need payroll, inventory, or a team of more than 2, QuickBooks is worth the investment.