Wave Pricing & Plans [2026]

Wave is a comprehensive, user-friendly accounting and invoicing platform specifically designed for small businesses, freelancers, and solopreneurs who need robust financial management without complex enterprise software. Founded in 2010 and headquartered in Toronto, Canada, Wave has carved out a unique niche by offering powerful accounting tools completely free for core services, making professional financial management accessible to entrepreneurs with limited budgets.

Unlike traditional accounting software that charges steep monthly fees, Wave's freemium model allows small business owners to track income, create invoices, and manage expenses without upfront costs. The platform serves as a critical solution for micro-businesses and independent contractors who previously struggled with expensive, complicated accounting systems. By simplifying financial tracking and providing intuitive interfaces, Wave enables entrepreneurs to focus more on growing their businesses and less on navigating complex financial software.

Wave's market differentiation stems from its commitment to serving small businesses overlooked by larger accounting platforms. The company recognizes that freelancers, consultants, and small service-based businesses have unique financial management needs that traditional software often fails to address. With features specifically tailored to these users — like unlimited invoice creation, mobile receipt scanning, and seamless payment processing — Wave has become a go-to solution for millions of small business owners across North America.

Typically, Wave attracts entrepreneurs in service-based industries like consulting, design, writing, photography, and trades. These professionals often need straightforward financial tools that don't require extensive accounting knowledge. By providing an intuitive, accessible platform with no monthly fees for basic services, Wave empowers individuals and small teams to manage their finances professionally without significant financial investment or technical expertise.

Wave's pricing strategy is uniquely positioned to support small businesses, offering a compelling mix of free and paid services. The core accounting and invoicing features are completely free, which is a significant advantage for budget-conscious entrepreneurs. This freemium model allows you to access essential financial management tools without any monthly subscription fees.

The free plan includes unlimited invoicing, income and expense tracking, and basic reporting. However, when you process payments through Wave, transaction fees apply: 2.9% + $0.60 per credit card transaction and 3.4% + $0.60 for American Express. These fees are competitive with other payment processing platforms and are only charged when you actually receive payments.

Wave's Pro plan, priced at $19.99 per month, introduces advanced features for growing businesses. This plan offers automatic bank transaction importing, transaction categorization, unlimited receipt scanning, and the ability to remove Wave branding from invoices. For businesses needing additional support, Wave offers payroll services starting at $40 per month plus per-employee fees, and bookkeeping assistance at $149 per month.

When comparing Wave to competitors like QuickBooks or FreshBooks, the cost savings are substantial. Most small businesses can manage their entire financial workflow without spending hundreds of dollars monthly. The key is understanding which features are essential for your specific business needs and selecting the appropriate tier accordingly.

Wave represents an exceptional accounting solution for small businesses and freelancers seeking professional financial management without substantial financial investment. Its completely free core features, combined with transparent, affordable add-on services, make it an industry-leading platform for micro-businesses.

While Wave excels for small service-based businesses and individual entrepreneurs, it may not be suitable for larger organizations or companies requiring complex accounting workflows. Businesses needing advanced inventory tracking, extensive third-party integrations, or comprehensive enterprise-level reporting might need to explore more robust alternatives like QuickBooks or NetSuite.

Ultimately, Wave earns a strong 4.5/5 rating for its target market. The platform's user-friendly interface, zero-cost core features, and focus on solving small business financial challenges make it an outstanding choice for entrepreneurs prioritizing simplicity and affordability in their accounting software.