Wave
Free Starter plan; Pro $19/month or $190/year.
- Free Starter
- $190/yr Pro
- Invoicing
Business
Wave vs QuickBooks: which accounting software for a small business?
Short version: Wave is the better deal for freelancers and very small businesses, with a free Starter plan. QuickBooks Online is worth $38 a month once you work with an accountant, need more integrations or are growing.
Wave Starter is free for invoicing, expenses and basic accounting; Pro is $19 a month or $190 a year. QuickBooks Online Simple Start lists at $38 a month ($456 a year), with the largest app marketplace and the most accountants who already know it.
Based on IRS · QuickBooks pricing · Xero US pricing +1 more
Which one should you buy?
QuickBooks Online
The platform most bookkeepers use; Simple Start $38/month.
- $38/mo
- Largest app ecosystem
- Accountant-friendly
Prices are official list prices as of October 2026 and can change. Links on this page go to official sites with no affiliate tag. How we choose.
The short answer: Wave if you are a freelancer or side business that mainly invoices and tracks expenses. QuickBooks Online if an accountant or bookkeeper does your books, you need integrations, or you expect to add users and payroll.
This is a focused guide. For the full category with every pick, read the best accounting software for small business.
Wave vs QuickBooks Online: side by side
Swipe the table sideways to see both →
| Spec | Best free optionWave | Best as you growQuickBooks Online |
|---|---|---|
| Price | Starter free; Pro $19/mo | Simple Start $38/mo |
| Free plan | Yes | QuickBooks Free (limited) in some regions |
| Users | Collaborators supported | 1 on Simple Start |
| Invoicing | Yes | Yes |
| Payroll | Payroll add-on (some states) | Payroll add-on |
| Best for | Freelancers, very small businesses | Most small businesses |
| Plans | See plans | See plans |
Why pick Wave?
For a one-person business, Wave’s free Starter plan covers what the IRS expects you to track: income, expenses and records to back them up. Pro adds automation such as bank-transaction import.
A year of Wave Pro costs $190, less than half of QuickBooks Simple Start’s $456. Payment processing fees apply on both if you take card payments through them.
Great if you
- Freelance or run a side business
- Want free
Skip it if you
- Need inventory or advanced reports
- Have a growing team
Key specs
- Starter
- Free
- Pro
- $19/month or $190/year
- Payments
- Processing fees apply
WavePrices are list prices on each official site as of October 2026; taxes, promotions and renewals vary. These are not affiliate links.
See plans on the official site Why pick QuickBooks Online?
QuickBooks Online’s advantage is everyone around it: most accountants and bookkeepers already use it, so handing over your books at tax time is simpler and often cheaper.
Simple Start is limited to one user; higher tiers add users and features, and payroll is an add-on. Promotions for new customers change often, so check the live price.
Great if you
- Work with an accountant
- Want the most integrations
- Plan to add payroll
Skip it if you
- Want free
- Need many users cheaply
Key specs
- Simple Start
- $38/month (list, Oct 2026)
- Users
- 1 on Simple Start; more on higher tiers
- Integrations
- Large app marketplace
QuickBooks OnlinePrices are list prices on each official site as of October 2026; taxes, promotions and renewals vary. These are not affiliate links.
See plans on the official site How to choose between Wave and QuickBooks
Start with who else touches your books. If nobody does, Wave is usually enough.
Do you have an accountant?
Ask which software they prefer; many will say QuickBooks, which can lower their fees.
Yearly cost
$0 or $190 for Wave against $456 for QuickBooks Simple Start at list price.
Users
Simple Start is single-user; Wave supports collaborators.
Switching later
Moving from Wave to QuickBooks is common as businesses grow; start clean either way.
WavePrices are list prices on each official site as of October 2026; taxes, promotions and renewals vary. These are not affiliate links.
See plans on the official site Wave vs QuickBooks: common questions
Is Wave really free?
The Starter plan is free for invoicing and basic accounting. Pro costs $19 a month or $190 a year, and payment processing has fees.
Is QuickBooks better than Wave?
It is more capable and better supported by accountants, but costs $456 a year on Simple Start. For a freelancer, Wave is usually enough.
Can I switch from Wave to QuickBooks later?
Yes. Many businesses start on Wave and move to QuickBooks as they grow; your accountant can help migrate balances.
What records do I need to keep?
The IRS says to keep records that support income, deductions and credits on your return, such as receipts, invoices and bank statements.
How we compared them
We compared Wave’s and QuickBooks’ official pricing pages and the IRS small-business recordkeeping guidance as of October 2026. Prices are list prices before promotions and tax.
We have not hands-on tested these products; we compare published specifications, independent measurements and manufacturer documentation, and we update this page when models change. Read the full methodology.
What sources did we use?
- IRS: recordkeeping for small businesses (accessed October 23, 2026)
- QuickBooks pricing (accessed October 23, 2026)
- Xero US pricing (accessed October 23, 2026)
- Wave pricing (accessed October 23, 2026)