FreshBooks
Wave
FreshBooks
Wave
FreshBooks
Wave
FreshBooks
Wave
FreshBooks
Wave
FreshBooks
Wave
No signals
FreshBooks
No signals
Wave
Users: 1 user (additional users $11/mo each)
Limits: Only 5 billable clients, basic reporting, no double-entry accounting
Users: 1 user (additional users $11/mo each)
Limits: 50 client limit, advanced features require higher tier
Users: 1 user (additional users $11/mo each)
Limits: Still lacks inventory management, purchase orders, and advanced multi-currency
Users: Unlimited users
Limits: No automatic bank transaction imports, limited receipt scanning, no phone support, chatbot only
Users: Unlimited users
Limits: Support response times still slow (multiple business days), no phone support
Users: Base fee + $6/employee
Limits: Recent issues with Check provider transition, tax filing errors reported by users
Users: Base fee + $6/employee
Limits: User must file and pay taxes manually, less automation than tax-service option
Users: Dedicated bookkeeper
Limits: High cost for small businesses, may not suit businesses with simple needs
| Feature | FreshBooks | Wave |
|---|---|---|
| Core | ||
| Professional invoicing Excellent templates and customization | ||
| Free invoicing Unlimited invoices on free plan | ||
| Time tracking Built-in and integrates with invoicing | ||
| Expense tracking Receipt capture via mobile app | ||
| Accounting | ||
| Bank reconciliation Connection issues reported by some users | ||
| Double-entry accounting Plus plan and above only | ||
| Automatic bank imports Pro plan only ($16/month) | ||
| Inventory management Not available | ||
| Purchase orders Not available | ||
| Expenses | ||
| Receipt scanning Limited on free, blurry photo issues reported | ||
| Payroll | ||
| Payroll processing Paid add-on with reliability issues since 2025 | ||
| International | ||
| Multi-currency Limited compared to competitors | ||
| Payments | ||
| Online payments 2.9% + $0.60 per transaction | ||
| Payment processing 2.9% + $0.30 per transaction | ||
| Accessibility | ||
| Mobile app Well-designed iOS and Android apps | ||
| Client Management | ||
| Client portal Clients can view and pay invoices | ||
| Projects | ||
| Project tracking No job costing or project profitability | ||
| Project management Basic project tracking available | ||
| Invoicing | ||
| Recurring invoices Automatic recurring billing | ||
| Support | ||
| Customer support Paid users only, 5-7 day response times | ||
| Integrations | ||
| API access Available for custom integrations | ||
| Reporting | ||
| Financial reports Basic reports, limited customization | ||