Harpoon
Forward-looking time-tracking and invoicing software designed to help freelancer...
Wave
Wave is a comprehensive accounting and invoicing platform designed specifically ...
Harpoon vs Wave: Which Is Better in 2026?
Comprehensive comparison of Harpoon and Wave covering features, pricing, pros & cons, and our expert verdict to help you make the right choice for your business.
Harpoon vs Wave: Overview
Choosing between Harpoon and Wave is a common dilemma for invoicing users. Both tools offer robust solutions, but they cater to different needs and budgets.
Harpoon offers a free tier and starts at $9/monthly, while Wave also has a free option and begins at $16/monthly. But pricing is just one factor—let's dive into features, use cases, and which tool fits your specific needs.
Harpoon is best known for unique focus on financial forecasting and profitability, whereas Wave stands out for completely free core accounting and invoicing features. In this detailed comparison, we'll analyze both tools across pricing, features, ease of use, and ideal use cases.
Quick Overview
Harpoon
- Best for: Freelancers seeking profitable growth, Small agencies and design studios
- Starting price: Free
- Category: invoicing
- Founded: 2014
Wave
- Best for: Small business owners starting out with limited budgets, Freelancers needing basic invoicing and expense tracking
- Starting price: Free
- Category: invoicing
- Founded: 2010
Feature Comparison
Side-by-side feature comparison to help you understand the key differences between Harpoon and Wave.
| Feature | H Harpoon | W Wave |
|---|---|---|
| Time Tracking | Track time across projects and clients | |
| Invoicing | Professional invoice generation and management | |
| Financial Forecasting | Plan and predict future revenue streams | |
| Project Scheduling | Schedule projects and estimate cash flow | |
| The Harpoon Method | Four-rule system for financial clarity | |
| SSL Encryption | Secure data protection like online banking | |
| Stripe Integration | Secure payment processing for client payments | |
| Team Management | Studio and Agency plans only | |
| Dashboard Analytics | Key business metrics at a glance | |
| No Software Installation | Web-based platform with automatic updates | |
| Unlimited Invoicing | Create and send unlimited invoices on all plans | |
| Online Payment Processing | 2.9% + $0.60 per credit card transaction | |
| Bank Transaction Import | Pro plan only - automatic import and categorization | |
| Receipt Scanning | Basic on Starter, unlimited on Pro | |
| Multi-Currency Support | Handle international transactions and invoices | |
| Mobile App | iOS and Android apps for on-the-go management | |
| Financial Reports | Profit & loss, cash flow, and tax reports | |
| Recurring Invoices | Automate regular billing cycles | |
| Customer Management | Track customer information and payment history | |
| Tax Preparation Ready | Organize books and reports for tax season |
Features Deep Dive
Both Harpoon and Wave offer core invoicing functionality, but their feature sets differ in key areas.
Shared features: Core functionality.
Harpoon unique strengths: Time Tracking, Invoicing, Financial Forecasting. This makes it ideal for freelancers seeking profitable growth.
Wave unique strengths: Unlimited Invoicing, Online Payment Processing, Bank Transaction Import. This makes it better suited for small business owners starting out with limited budgets.
Harpoon offers 10 core features with 2 integrations, while Wave provides 10 features and 8 integrations.
Our Verdict
After extensive testing and analysis, Harpoon edges out as the winner in this comparison. While both tools excel in their respective areas, Harpoon offers more features for the price. Wave remains a strong alternative, especially for users who prioritize small business owners starting out with limited budgets.
Harpoon
Best for Freelancers seeking profitable growth and Small agencies and design studios. Unique focus on financial forecasting and profitability.
Try HarpoonWave
Best for Small business owners starting out with limited budgets and Freelancers needing basic invoicing and expense tracking. Completely free core accounting and invoicing features.
Try WavePros & Cons
Harpoon Pros & Cons
Pros
- Unique focus on financial forecasting and profitability
- Simple four-rule methodology for business management
- 14-day free trial with no credit card required
- 21% discount for annual billing
- No hidden fees or setup costs
Cons
- Starter plan limited to only 3 clients
- No free permanent plan available
- Additional team members cost $5 each beyond 20 users
- May be too simple for complex enterprise needs
Wave Pros & Cons
Pros
- Completely free core accounting and invoicing features
- User-friendly interface designed for non-accountants
- Strong mobile app for on-the-go management
- Automatic bank synchronization with major financial institutions
- No setup or monthly fees for basic functionality
Cons
- Payment processing fees are higher than some competitors
- Limited integrations compared to premium accounting software
- Advanced features require paid upgrades
- Customer support primarily through chat, no phone support
Pricing Comparison
Compare the pricing plans and see which tool offers better value for your budget.
Harpoon
subscription- 14-day trial
- All features included
- No credit card required
- Up to 3 clients
- Basic time tracking
- Invoicing
- Unlimited clients
- Time tracking
- Invoicing
- Multiple team members
- Advanced reporting
- Project scheduling
- Up to 20 team members
- Advanced analytics
- Custom reporting
Wave
freemium- Unlimited invoices
- Basic accounting
- Receipt scanning
- All Starter features
- Auto-import bank transactions
- Auto-categorize transactions
- Payroll processing
- Tax filing
- Direct deposits
- Dedicated bookkeeper
- Monthly financial statements
- Expert support
Pricing Comparison Analysis
Harpoon Pricing: Free tier available. Paid plans start at $9/monthly. 5 plans available: Free Trial, Starter, Freelancer, Studio, Agency.
Wave Pricing: Free tier available. Paid plans start at $16/monthly. 4 plans available: Starter, Pro, Wave Payroll, Wave Advisors.
Verdict: Harpoon is more affordable at the entry level and offers a free tier. However, Wave may offer better value at scale with Completely free core accounting and invoicing features.
For budget-conscious teams, Harpoon is the clear winner. For teams prioritizing small business owners starting out with limited budgets, Wave's pricing may be justified.
Which Tool Is Best For You?
Choose Harpoon if you need:
- Freelancers seeking profitable growth
- Small agencies and design studios
- Service-based businesses needing financial clarity
- Teams wanting to predict future revenue streams
- Unique focus on financial forecasting and profitability
- Simple four-rule methodology for business management
Choose Wave if you need:
- Small business owners starting out with limited budgets
- Freelancers needing basic invoicing and expense tracking
- Solopreneurs managing simple financial operations
- Contractors requiring professional invoice creation
- Completely free core accounting and invoicing features
- User-friendly interface designed for non-accountants
Final Verdict
Choose Harpoon if: You need freelancers seeking profitable growth or small agencies and design studios. It excels at unique focus on financial forecasting and profitability and simple four-rule methodology for business management.
Choose Wave if: You prioritize small business owners starting out with limited budgets or freelancers needing basic invoicing and expense tracking. It's particularly strong for completely free core accounting and invoicing features and user-friendly interface designed for non-accountants.
Overall: Harpoon has a slight edge with a 4.3/5 rating from 150 reviews. However, Wave has a larger user base with 350,000 reviews, suggesting broader market validation.
Both tools are solid choices in the invoicing space. Your decision should ultimately depend on your specific requirements, team size, and budget.
Harpoon vs Wave FAQ
What are the main differences between Harpoon and Wave?
Harpoon focuses on freelancers seeking profitable growth with unique focus on financial forecasting and profitability, while Wave excels at small business owners starting out with limited budgets with completely free core accounting and invoicing features. Key differences include pricing structure, feature depth, and target user base.
Is Harpoon or Wave better for small businesses?
Harpoon offers a free tier which is great for small businesses starting out. For small businesses with limited budgets, consider starting with the tool that offers Harpoon's lower starting price of $9/month.
What is the pricing difference between Harpoon and Wave?
Harpoon starts at $9/month with a free tier available, while Wave starts at $16/month with a free tier available. Both offer multiple pricing tiers with different feature sets.
Can Harpoon integrate with Wave?
While direct integration may vary, both Harpoon and Wave support third-party integrations through platforms like Zapier. Harpoon integrates with Stripe, Web browsers, while Wave works with PayPal, Stripe, Shopify.
Which tool is easier to use, Harpoon or Wave?
Based on user reviews, Harpoon generally receives higher marks for ease of use with a 4.3 rating. However, ease of use can depend on your specific needs and technical background. Harpoon is known for simple four-rule methodology for business management.
Does Harpoon or Wave offer better customer support?
Both Harpoon and Wave provide customer support, with options varying by plan tier. Harpoon offers support through standard support channels. Check each tool's specific plan for support details.
What are the pros of Harpoon compared to Wave?
Harpoon's main advantages include: Unique focus on financial forecasting and profitability, Simple four-rule methodology for business management, 14-day free trial with no credit card required. Compared to Wave, it's particularly strong for freelancers seeking profitable growth.
What are the cons of Harpoon compared to Wave?
Harpoon's potential drawbacks include: Starter plan limited to only 3 clients, No free permanent plan available. Wave may be a better choice if these limitations affect your use case.
Should I switch from Harpoon to Wave or vice versa?
Consider switching if your current tool doesn't meet your needs. Key factors include: current pain points, migration complexity, team training, and total cost of ownership. Use our ROI calculator to estimate the potential impact of switching.
Which tool is best for invoicing in 2026?
In 2026, Harpoon leads in this comparison with a 4.3 rating. However, the best choice depends on your specific requirements. Harpoon excels for freelancers seeking profitable growth, while Wave is ideal for small business owners starting out with limited budgets.