WavevsXero
Score Comparison
Signals Comparison
Wave
- No customer support unless you pay for services(9/10)
- Accounts frozen or closed without explanation(10/10)
Xero
- Customer support limited to email only(9/10)
Wave
- Payroll switched to Check provider causing major issues(10/10)
- Payments clawed back after customers already received them(9/10)
Xero
- Persistent bugs and syncing errors(8/10)
Wave
- Bank connections frequently break and disconnect(8/10)
- Currency conversion headaches for international invoicing(6/10)
Xero
- Essential features require paid add-ons(7/10)
Wave
- Receipt scanning produces blurry photos and lost data(7/10)
Xero
- Mobile app has limited functionality(5/10)
Wave
- Free until you need useful features like auto-imports(7/10)
- Payroll costs add up quickly with base fee plus per-employee charges(7/10)
Xero
- Price hikes with little notice(8/10)
- Early plan's 20-invoice limit is restrictive(6/10)
Wave
- Auto-categorization causes more work than it saves(7/10)
- No project-based cost tracking or job costing(7/10)
- Limited reporting features lacking customization(6/10)
- Reconciliation process is difficult and time-consuming(6/10)
- No inventory tracking or management capabilities(6/10)
Xero
- Interface requires horizontal scrolling(5/10)
- Multi-company management is painful(7/10)
- Invoice view changes frustrate users(5/10)
Wave
No signals
Xero
- Inventory management lacks depth(7/10)
- Struggles past 100 employees(8/10)
Wave
No signals
Xero
- Steep learning curve for beginners(6/10)
Pricing Comparison
Wave
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
Xero
Users: Unlimited users
Storage: N/A
Limits: Invoice and bill limits make this impractical for active businesses, No payroll, No multi-currency
Users: Unlimited users
Storage: N/A
Limits: Some reporting features still limited, Multi-currency may require higher tier
Users: Unlimited users
Storage: N/A
Limits: Still struggles with 100+ employees, Complex multi-entity needs workarounds
Feature Comparison
| Feature | Wave | Xero |
|---|---|---|
| Core | ||
| Free invoicing Unlimited invoices on free plan | ||
| Expense tracking Manual entry on free, auto-import on Pro | ||
| Pricing | ||
| Unlimited users All plans include unlimited users - major advantage | ||
| Accounting | ||
| Bank reconciliation Connection issues frequently reported | ||
| Double-entry accounting Basic chart of accounts included | ||
| Automatic bank imports Pro plan only ($16/month) | ||
| Core Accounting | ||
| Invoicing Good templates, customizable | ||
| Support | ||
| Phone support Email only for standard plans | ||
| Customer support Paid users only, 5-7 day response times | ||
| Expenses | ||
| Receipt scanning Limited on free, blurry photo issues reported | ||
| Payroll | ||
| Built-in payroll Separate paid add-on required | ||
| Payroll processing Paid add-on with reliability issues since 2025 | ||
| Inventory | ||
| Advanced inventory Basic only, need DEAR/Cin7 for robust inventory | ||
| Inventory management Not available | ||
| Payments | ||
| Online payments 2.9% + $0.60 per transaction | ||
| Usability | ||
| Multi-company login Cannot log into multiple orgs simultaneously | ||
| Projects | ||
| Project tracking No job costing or project profitability | ||
| Integrations | ||
| API access Strong API, 1000+ marketplace integrations | ||
| International | ||
| Multi-currency Basic support with conversion headaches | ||
| Accessibility | ||
| Mobile app iOS better than Android, receipt issues | ||
| Reporting | ||
| Financial reports Basic reports, limited customization | ||