FreshBooks vs. Wave Accounting Comparison


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About Make invoicing and billing painless for your small business with FreshBooks. A top-rated invoice and accounting software for self-employed professionals and small businesses, FreshBooks offers a fast, easy, and secure way of crunching numbers so companies can focus on doing the work they love. It offers a wealth of powerful features that includes invoicing, expense tracking, time tracking, project management, payment processing, and reporting. FreshBooks also lets users work from anywhere with the Freshworks mobile app.		About Powerful, free accounting software. Wave’s easy-to-use accounting software can connect your bank accounts, sync your expenses, balance your books, and get you ready for tax time. Start taking control of your finances today. We designed Wave for small business owners. No jargon, just easy software that makes sense. After creating your account, everything's set up so you can get started right away. Access it anywhere, any time. Your data is always available, and it’s backed up for extra peace of mind. Connect your bank accounts in seconds. The transactions will appear in your bookkeeping automatically, and you can say goodbye to manual receipt entry. Have an eye on the big picture so you can make better business decisions. Our robust reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends. When everything is neatly where it belongs, tax time is simple.
Platforms Supported Windows Mac Linux Cloud On-Premises iPhone iPad Android Chromebook		Platforms Supported Windows Mac Linux Cloud On-Premises iPhone iPad Android Chromebook
Audience Self employed professionals, agencies, firms, and consultancies.		Audience Small business owners, entrepreneurs, and freelancers that need a powerful but free or low-cost accounting system
Support Phone Support 24/7 Live Support Online		Support Phone Support 24/7 Live Support Online
API Offers API		API Offers API
Screenshots and Videos View more images or videos		Screenshots and Videos View more images or videos
Pricing $6.30/month Get 70% off for 3 month offer now! Lite - $21 per month. Send unlimited invoices to up to 5 clients Plus - $38 per month. Send unlimited invoices to up to 50 clients Premium - $65 per month. Send unlimited invoices to an unlimited amount of clients Free Version Free Trial		Pricing $35 per month Free Plan, Pay-per-use Plan, and Monthly plan all offered. Free Version Free Trial
Reviews/Ratings Overall 4.8 / 5 ease 4.6 / 5 features 4.7 / 5 design 4.8 / 5 support 4.7 / 5 Read all reviews		Reviews/Ratings Overall 3.3 / 5 ease 3.7 / 5 features 3.7 / 5 design 4.1 / 5 support 3.1 / 5 Read all reviews
Pros from Real Users Pros The software offers a simple and intuitive user interface that makes it easy to create and manage invoices, track payments, and manage clients. The mobile app makes it easy to access the software from anywhere, and the integration with other popular business apps, such as PayPal and Stripe, makes it even more convenient. Freshbooks also offers a range of accounting features, such as tracking expenses, generating reports, and managing taxes. The platform is very simple and easy to use, all its features and tools are very intuitive. They handle a large amount of information without the need to present any kind of blocking in the system. The price is incredible, Freshbooks fits what it offers. The best CDFi option is included and projects are handled much better. The best finance software for streamlining invoicing process for clients and time tracking. It is highly reliable in completing complex financial processes and automating tasks. FreshBooks have managed to bed down the Quote to Cash (Proposals - Invoice - Receipt - Report) process in a very elegant and concise way, hats off to them. We adopted FreshBooks after extensive evaluation and despite the price, the value they provide makes it worth it. Proposal are a definite win though it would be nice if we could customize/personalize the sending domain name. Freshbooks works with high-performance financial analytics, from which you can create advanced statistics showing the billing and closing cycles of all dates booked in the system, so you can access the information as often as needed. Freshbooks quickly manages file exports. First, I like the ease of implementation of FreshBooks. It helps us in executing our accounting duties with ease. For instance, we are able to manage our invoices perfectly using FreshBooks. Moreover, with FreshBooks, we track time and manage invoices easily. It is a great platform for us. FreshBooks is a great tool for invoicing clients either for one-time or recurring payments. There are several integrations, including my favorite one which is HubSpot CRM for tracking clients in their sales cycle. This invoicing and accounting software is a great step toward automation. We switched from using Excel and Word to using FreshBooks and have been very pleased. #1- The billing portal is easy to customize and allows to add a business logo. #2- Automatic payment processing and quick bill generator. #3- Auto Tax calculation for every invoice. Very easy to use and organizes your information well. It allows your customers to save their info and bill easily.		Pros & Cons from Real Users Pros Ease, look, my older business accounts are still free, even though my newest one I have to pay for, imports from bank back to 365 days! I honestly can't say anything else good about Wave. It is free easy to use. It takes a lot to set it up but the invoicing and ease of payment for clients is great. This is probably the best self-employed, low budget accounting solution available on the market because you can't beat the price (FREE). We could manage the accounting for our small business until we couldn't. The software worked until it didn't. What I love about Wave is that the accounting and reports, sending invoices, receipt scanning and email support all included for FREE. You cant beat that! Cons Disconnects from bank too often, updates crash account, and recently last update messed up all my accounts so badly that I am now forced to look for a different company bcuz Wave blames it on my bank and won't assist me. Customer Service is horrible and all of it is online, chat which makes it virtually impossible to get anything done - why can't a company get access to my computer to assist, or just have free phone technical support? With this last update, they added Tags and Perks. All my bank accounts disconnected in all three of my business accounts (not my credit card accounts thought). When I reconnected, one: none of my bank accounts are showing the last 3-4 digits so I have no idea which ones to connect now to which business w/out much, much effort, two: when I did import the bank accounts Wave is now combining all transactions between both bank accounts and not in the correct one, and not showing the correct balance in all of them, three: I deleted the bank accounts and reconnected over and over and over and over again, different ways without success to the point I decided to delete the incorrect transactions in the different accounts, only now, when I deleted those transactions, then deleted the bank account to reconnect in hopes with would work, now ALL these deleted transactions won't even transport now - EVEN THOUGH Wave is still showing the correct balances! Fourth: Now with a company bank connection, Wave is asking for a Company ID number - what the heck is this, where can I find it, and if you don't have a Company ID number Wave does not allow the connection! This year this software has disappointed me it has lost bank connections and then tripled the transactions I am not happy and am looking for something that works better. The financial statements are not very professional looking. It does not always remember the proper place to put things and so you really have to be careful reviewing process has to be intense. I am not sure that I will continue to use it after the mess this year still working on fixing the messes. If you have more than one person as admin it screws it up so bad. The reports are not nuanced. You won't get a P&L detail or a P&L by month across multiple months...the rules are not very dynamic. Zero respect for the criticality of a businesses accounting systems and data Well if you have to pick something to dislike about a FREE software I guess I'd have to say I dislike that Wave seemed so new and they are constantly updating and I'm always losing where things are kept. I have a terrible memory!
Training Documentation Webinars Live Online In Person		Training Documentation Webinars Live Online In Person
Company Information FreshBooks Founded: 2004 Canada www.freshbooks.com/		Company Information Wave Financial Founded: 2009 Canada www.waveapps.com/accounting
Alternatives Xero		Alternatives FreshBooks
AlsoThere		Xero
Invoice Home Invoice Home Inc.		QuickBooks Online Intuit
QuickBooks Online Intuit		Sage Intacct
Sage Intacct View All		AccountEdge Priority Software US View All
Categories Accounting Want to grow without feeling overwhelmed? FreshBooks empowers you to make smarter spending decisions. Get custom, real-time reports that pinpoint risks and opportunities, all while squeezing out every tax break. Try it Free or save 70% on FreshBooks Now. Accounts Receivable AR Automation Billing and Invoicing Tired of chasing invoices and juggling paperwork? FreshBooks simplifies your entire billing process. Create professional, branded invoices, send them to clients, and easily track payment status. With FreshBooks, you'll save time on admin and get paid up to 2x faster. Try it Free or save 70% on FreshBooks Now. Bookkeeping Unlock clear financial health with powerful bookkeeping tools. Make smart decisions, plan for growth, and ensure compliance. FreshBooks simplifies this, giving you control and clarity to focus on growing your business. Try it Free or save 70% on FreshBooks Now. Construction Accounting Expense Report Snap, categorize, and conquer expenses with FreshBooks! Easily track receipts, auto-import bank transactions, and get clear spending insights. Simplify tax prep and budgeting, so you always know where your money is going. Try it Free or save 70% on FreshBooks Now. Finance Say goodbye to complex spreadsheets and confusing software. Get all your essential financial tools in one place with FreshBooks. It's an all-in-one accounting solution that effortlessly handles your billing, payments, and bookkeeping. Try it Free or save 70% on FreshBooks Now. General Ledger Law Firm Accounting Legal Billing Legal Time Tracking Payment Processing FreshBooks makes getting paid speedy and straightforward. Offer credit cards payrments, Apple Pay, and bank transfers to your clients and get paid twice as fast. Plus, save time with automatic payment recording and invoice matching. Try it Free or save 70% on FreshBooks Now. Payroll Project Accounting Receipt Scanner Reconciliation Recurring Billing Simplify your billing with FreshBooks. Generate branded, professional invoices, dispatch them to clients with a click, and closely monitor their payment progress. Reclaim time otherwise spent on admin, and experience the benefit of getting paid up to 2x faster. Try it Free or save 70% on FreshBooks Now. Restaurant Accounting Time and Expense Time Clock Time Tracking FreshBooks' powerful and simple expense tracker makes tracking business expenses ridiculously easy. You can see what you’re spending and how profitable you are at a glance without the headache of spreadsheets or shoeboxes of receipts. Try it Free or save 70% on FreshBooks Now.		Categories Accounting Accounts Receivable Billing and Invoicing Bookkeeping Expense Report General Ledger Law Firm Accounting Medical Accounting Real Estate Accounting Receipt Scanner Recurring Billing Restaurant Accounting
Accounting Features Accounts Payable Accounts Receivable Bank Reconciliation Billing & Invoicing Cash Management CPA Firms Cryptocurrency Support Expense Tracking Fixed Asset Management Fund Accounting General Ledger Government Multi-Currency Nonprofits Payroll Management Project Accounting Purchase Orders Tax Management Accounts Receivable Features ACH Payment Processing Billing & Invoicing Check Processing Collections Management Online Payment Processing Overpayment Processing Partial Payments Receivables Ledger Recurring Billing Billing and Invoicing Features Billing Portal Contact Database Contingency Billing Customer Portal Customizable Invoices Dunning Management Hourly Billing Invoice History Mobile Payments Multi-Currency Online Invoicing Online Payments Payment Processing Project Billing Recurring/Subscription Billing Service Ticket Billing Tax Calculator Bookkeeping Features Accounts Payable Accounts Receivable Bank Reconciliation Billing & Invoicing Cash Management Collections Expense Tracking Fixed Asset Management General Ledger Payroll Revenue Recognition Spend Management Tax Management Expense Report Features Approval Process Control Invoice Management Multi-Currency Receipt Management Reimbursement Management Spend Control Time Tracking Workflow Management Recurring Billing Features Customer Portal Deferred Billing Discount Management Dunning Management Invoice History Multi-Currency Multi-Period Recurring Billing Payment Processing Recurring Donations Subscription Billing Show More Features Construction Accounting Features Accounts Payable Accounts Receivable Billing & Invoicing Budgeting & Forecasting Cash Management Construction Breakdowns General Ledger Job Costing Overrun Projections Payroll Management Purchase Order Management Quotes / Estimates Legal Billing Features Accounting Management Automatic Billing Calendar Management Case Management Client Portal Document Management Expense Tracking Time Tracking Payment Processing Features ACH Check Transactions Bitcoin Compatible Debit Card Support Gift Card Management Mobile Payments Online Payments POS Transactions Receipt Printing Recurring Billing Signature Capture Payroll Features 401(k) Tracking Attendance Management Benefits Management Check Printing Compensation Management Deductions Management Direct Deposit Multi-Country Multi-State Reporting/Analytics Self Service Portal Tax Compliance Vacation / Leave Tracking W-2 and 1099 Preparation Wage Garnishment Time Clock Features Biometric Recognition Hourly Employee Tracking Messaging Mobile Access Online Punch Card Payroll Management Punch card Reporting/Analytics Salaried Employee Tracking Sick Leave Tracking Vacation / Leave Tracking Workstation Tracking Time Tracking Features Automatic Time Capture Billable & Non-Billable Hours Billing & Invoicing Employee Database Expense Tracking Mobile Time Tracking Multiple Billing Rates Offline Time Tracking Online Time Tracking Overtime Calculation Time per Project Reporting Timesheet Management Vacation / Leave Tracking Time and Expense Features Activity Tracking Billable Hours Tracking Billing Rate Management Expense Tracking Invoice Processing Multiple Billing Rates Project Tracking Reimbursement Management Time Tracking by Client Time Tracking by Project		Accounting Features Accounts Payable Accounts Receivable Bank Reconciliation Billing & Invoicing Cash Management CPA Firms Cryptocurrency Support Expense Tracking Fixed Asset Management Fund Accounting General Ledger Government Multi-Currency Nonprofits Payroll Management Project Accounting Purchase Orders Tax Management Accounts Receivable Features ACH Payment Processing Billing & Invoicing Check Processing Collections Management Online Payment Processing Overpayment Processing Partial Payments Receivables Ledger Recurring Billing Billing and Invoicing Features Billing Portal Contact Database Contingency Billing Customer Portal Customizable Invoices Dunning Management Hourly Billing Invoice History Mobile Payments Multi-Currency Online Invoicing Online Payments Payment Processing Project Billing Recurring/Subscription Billing Service Ticket Billing Tax Calculator Bookkeeping Features Accounts Payable Accounts Receivable Bank Reconciliation Billing & Invoicing Cash Management Collections Expense Tracking Fixed Asset Management General Ledger Payroll Revenue Recognition Spend Management Tax Management Show More Features Real Estate Accounting Features Accounts Payable Accounts Receivable Bank Reconciliation Commission Management Contract Management General Ledger Mobile Access Payroll Property Development Management Reporting / Analytics Work Order Management
Integrations Codat Ema Everlance FirstOfficer ForwardAI HoneyBook Insightly Make Motileo Nango North One PayPal Peaka Railz Rayven Refold Stripe Vessel Zapier noCRM.io Show More Integrations View All 225 Integrations		Integrations Codat Ema Everlance FirstOfficer ForwardAI HoneyBook Insightly Make Motileo Nango North One PayPal Peaka Railz Rayven Refold Stripe Vessel Zapier noCRM.io Show More Integrations View All 66 Integrations
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