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Most buyers should pick Wave.
Choose Wave for a free bookkeeping start or lower-cost automation: Starter is free, and Pro is $19 monthly ($15.83/month billed yearly). Choose FreshBooks if client-facing invoicing, proposals, or tracked time matter more: Lite starts at $23/month and caps invoices at five clients. FreshBooks has a 30-day trial, but no free plan; yearly prices are not published. Check Wave's payment fees and both products' payroll/team add-ons before switching.
01Side by side
| Wave | FreshBooks | |
|---|---|---|
| Starting price | Free Starter; Pro is $19 monthly | Lite is $23 monthly |
| Free plan | Starter plan is free | No free plan; 30-day trial |
| Best for | Small businesses needing basic bookkeeping | Freelancers managing client invoices |
| Core strength | Bookkeeping, invoicing, payments, and payroll | Client invoicing, proposals, and time tracking |
| Learning curve | Not published | Not published |
| Integrations/data | Pro auto-imports bank transactions | Bank imports; Select offers Easy Switch |
| Team/seat costs | Payroll from $25/month; seat pricing not published | Team Members $11/user/month; payroll costs extra |
| Support | Advisors offer bookkeeping and accounting help | Select includes dedicated phone support |
Wave Choose Wave if
- Choose Wave if you need free bookkeeping and basic invoicing.
- Choose Wave if automated categorization matters at $19 monthly.
- Choose Wave if you want receipts and bookkeeping help under one vendor.
FreshBooks Choose FreshBooks if
- Choose FreshBooks if you invoice clients and track billable time.
- Choose FreshBooks if you need proposals or retainers on Plus.
- Choose FreshBooks if Select's dedicated phone support fits your needs.
02Pricing compared
Wave is cheaper to start. Its Starter plan is free and includes basic bookkeeping, invoices, estimates and bills; card payments cost 2.9% + $0.60, with Amex at 3.4% + $0.60. Wave Pro is $19 monthly or $15.83 per month billed yearly. The pricing page lists payroll from $25/month on Starter or $40/month on Pro, and digital receipts as a paid add-on on Starter.
FreshBooks has no free plan, but its 30-day trial lets you try it before paying. Lite is $23/month and covers invoices for five clients; Plus is $43/month for 50 clients, and Premium is $70/month for unlimited clients. Annual prices are not published, though the page mentions an extra 10% off yearly billing. Team Members cost $11 per user/month; payroll is $40/month plus $6 per user. Check payment and add-on costs, not just subscription prices.
03Features and depth
Both products cover invoicing, expenses, payments and accounting, but they suit different workflows. Wave includes bookkeeping records, income and expense tracking, estimates, bills and financial reports. Pro adds bank transaction imports, automatic categorization, receipt capture and late-payment reminders. Wave also offers payment processing, payroll and advisor help, but some of these cost extra. Its Pro card rate is 2.9% + $0 for the first 10 transactions each month; the pricing details do not specify the rate after that.
FreshBooks leans toward client work. Its invoicing can include tracked time and expenses, and Plus adds proposals and client retainers. Higher plans include features such as project profitability and custom email templates. FreshBooks also lists receipt scanning, bank imports, accounting reports and balance sheets. Payroll is an add-on, not part of the listed Lite, Plus or Premium inclusions. If client limits matter, Lite caps invoices at five clients and Plus at 50; Premium lists unlimited clients. Wave’s free plan may cover simpler books, but FreshBooks offers more explicitly client-focused tools.
04Ease of use and learning curve
Neither pricing page settles which product will feel easier for your business. Wave’s Starter plan keeps the entry point simple on cost, but receipt capture and payroll may mean extra setup or fees. Pro automates bank imports and categorization, while Wave Advisors offers bookkeeping help for businesses that would rather get support.
FreshBooks runs in a browser and has iPhone and Android apps. Its plan structure makes the client limit worth checking before you move: Lite covers five clients, while Plus covers 50. Select includes dedicated phone support and Easy Switch data import, but its price is not published. We’d compare the way you invoice and track work against those limits before switching, and confirm what data each plan can import.
Questions people ask
Is Wave cheaper than FreshBooks?
Usually, based on listed starting prices. Wave Starter is free, and Pro is $19 monthly or $15.83 per month billed yearly. FreshBooks Lite starts at $23/month and has no free plan. Add payment processing, payroll and team costs to the comparison before deciding.
Which is better for freelancers?
It depends on how you bill. Wave is the lower-cost option for basic bookkeeping and invoicing. FreshBooks may suit freelancers who need tracked time, proposals or client retainers, but Lite limits invoices to five clients. Plus raises the cap to 50 for $43/month.
Does FreshBooks have a free plan?
No free plan is listed. FreshBooks offers a 30-day trial, then its listed monthly plans start at $23 for Lite. The pricing page mentions an extra 10% off yearly billing but does not publish annual prices.
Can I move from Wave to FreshBooks?
FreshBooks Select lists Easy Switch data import, but the available pricing details do not say whether that import is included on other plans or what data it covers. Confirm the plan, supported data and any migration help with FreshBooks before you switch.