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Most buyers should pick Wave.
Choose Wave if you want a free small-business accounting start: Starter includes unlimited invoices, estimates, bills, and bookkeeping records, though card processing costs extra. Its Pro plan is $19 monthly or $190 yearly. Choose QuickBooks Online if you need inventory, project profitability, bills, or time tracking; those capabilities sit on paid plans, and Plus is $140 monthly. QBO’s free tier is narrow: one user, one bank account, and two invoices monthly.
01Side by side
| QuickBooks Online | Wave | |
|---|---|---|
| Paid starting price | $20/month; $17.92/month annual equivalent | $19/month; $15.83/month annual equivalent |
| Free plan | One user, one bank account, two invoices monthly | Unlimited invoices, estimates, bills, and bookkeeping records |
| Best for | Businesses needing bills, time tracking, or inventory | Small businesses wanting basic bookkeeping and invoicing |
| Core strength | FIFO inventory and project profitability on Plus | Accounting, invoicing, payments, receipts, and payroll |
| Learning curve | Not published on the vendor's site | Not published on the vendor's site |
| Banking and sales data | Free: one bank; Simple Start: three sales channels | Pro auto-imports bank transactions |
| Team and seat costs | Paid plans cap billable users at one, three, or five | Seat limits not published |
| Support | Support details not published on the vendor's site | Dedicated bookkeeper via Advisors; listed at $172/month |
QuickBooks Online Choose QuickBooks Online if
- Choose QuickBooks Online if you need FIFO inventory tracking.
- Choose QuickBooks Online if project profitability tracking matters.
- Choose QuickBooks Online if you need bills or time tracking.
Wave Choose Wave if
- Choose Wave if you want a free plan with unlimited invoices.
- Choose Wave if you need estimates, bills, and bookkeeping records.
- Choose Wave if you want automated bank imports on Pro.
02Pricing compared
Wave is cheaper to start: Starter is free and includes unlimited estimates, invoices, bills, and bookkeeping records. Card payments cost 2.9% + $0.60, or 3.4% + $0.60 for Amex. Pro is $19 monthly or $190 yearly; its card fee is 2.9% + $0 for the first 10 transactions each month. QuickBooks Online Free is also $0, but caps use at one user, one connected bank account, and two invoices monthly. Paid plans range from Solopreneur at $20 monthly ($17.92 per month with annual billing) to Plus at $140 monthly. Simple Start is $38 and Essentials $85 monthly. QuickBooks lists payment-processing fees of 1%–3.5% on several plans; Plus’s rate is not specified. Check add-ons too: Wave payroll starts at $25 with Starter or $40 with Pro, while QuickBooks payroll pricing varies by plan.
03Features and depth
Wave covers core small-business bookkeeping, invoicing, estimates, payments, and payroll. Starter includes unlimited invoices, estimates, bills, and bookkeeping records, plus mobile invoicing. Pro adds bank transaction imports, transaction matching and categorization, digital receipt capture, and late-payment reminders. Online payments are optional, and payroll and receipt capture can add monthly costs. Wave Advisors offers a dedicated bookkeeper and monthly financial statements; mobile receipts are not included in that plan.
QuickBooks Online’s listed plans add more accounting structure as the price rises. Simple Start supports up to three connected sales channels and 250 chart-of-accounts entries. Essentials adds bills and time tracking, with three billable users. Plus allows five billable users and lists FIFO inventory and project profitability tracking. Inventory tracking is also listed as a $40 monthly add-on for Simple Start and Essentials. If inventory, project tracking, or time tracking matters, compare the specific plan caps before moving; the free tier is not a like-for-like substitute for those paid features.
04Ease of use and learning curve
Our review scores rate Wave higher for ease of use (7) than QuickBooks Online (4), but they do not provide a detailed explanation or testing method. Both products offer a free starting point, so the main practical difference is what you need to manage: Wave Starter has unlimited invoices and bookkeeping records, while QuickBooks Online Free limits you to two invoices monthly and one bank connection.
QuickBooks’ paid plans add user, chart-of-accounts, and feature limits to keep track of. Wave’s Pro automates transaction imports and reminders, while bookkeeping help is available through paid Advisor options. We’d compare the workflow and total add-on cost your business needs, rather than assume either product will be simpler for every team.
Questions people ask
How is Wave different from QuickBooks?
Wave combines bookkeeping, invoicing, payments, and payroll, with a free Starter plan that includes unlimited invoices, estimates, bills, and bookkeeping records. QuickBooks Online offers multiple paid tiers, with listed capabilities such as time tracking, inventory, and project profitability on higher plans. Their free tiers have different limits.
What is the difference between desktop and online QuickBooks?
The information available here covers QuickBooks Online, not QuickBooks Desktop. It does not provide Desktop pricing, features, or a direct comparison, so we can’t reliably describe which product fits better. Check the current Desktop product details before comparing it with an Online plan.
Do I still need an accountant if I use QuickBooks?
The product information does not say that QuickBooks replaces an accountant or that every user needs one. QuickBooks plans list accountant-user access alongside billable users on several tiers. Whether you need professional help depends on your business and tax situation; the listed software features alone cannot settle that.
Do accountants prefer QuickBooks or Xero?
The published information does not include accountant surveys or preference data, and it does not describe Xero’s features or pricing. QuickBooks Online lists accountant-user access on several plans, but that does not establish a preference. Ask your accountant which software they support and what it costs to switch.