Overview

Wave is invoicing and payment software for small businesses and independent operators who want customer billing connected to bookkeeping. It is best suited to teams that can work within Wave’s ecosystem and accept per-transaction charges for online payments; integrations and API connections require a paid plan.

Starter makes core invoice and record creation available for free, while Pro adds bank transaction automation and expense tools for $19.00 USD per month. The trade-off is a low-cost entry point with paid access to important connections and transaction fees on collections.

Key features

Invoicing and payments

Wave supports creating and sending invoices, managing customer information, and customizing templates with a logo and brand colors through drag-and-drop editing. That is useful for small operations that want invoices to reflect their brand without a separate design workflow. Recurring invoices and automatic credit card payments can reduce repetitive billing work for repeat customers.

Customers can pay by credit card, secure bank payment (ACH/EFT), or Apple Pay. Starter has unlimited estimates, invoices, bills, and bookkeeping records, but online payments cost 2.9% + $0.60 per credit card transaction and 3.4% + $0.60 per Amex transaction. Businesses with substantial card volume should weigh those fees against the value of the free plan.

Accounting, expenses, and connections

Invoice and payment information connects to Wave’s accounting feature, keeping billing activity within the same bookkeeping workflow. Pro adds automatic bank transaction import, transaction merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. These tools make the paid plan more compelling for businesses that want routine bookkeeping tasks and follow-up handled alongside invoicing.

Wave lists integrations including Amazon, eBay, Capsule, and Etsy, and supports workflows through Make. Since May 26, 2025, connecting or maintaining Partner integrations and Make requires Pro or a Wave Advisors bookkeeping subscription. API documentation and application creation are available through the Developer Portal, but connecting third-party apps through the API also requires active Pro or Wave Advisors. That makes Wave a less suitable choice for a business that needs open connections on a free plan.

Wave says data in transit is protected with up to 256-bit TLS encryption and that it is a PCI Level 1 Service Provider. It is not HIPAA-compliant and does not currently support healthcare-related businesses, so healthcare teams should look elsewhere. The Help Center and automated chatbot Mave are available 24/7; eligible customers can reach support by email or live chat Monday to Friday, 9 AM to 5 PM Eastern.

Pricing

Starter: $0.00 USD per free. It includes unlimited estimates, invoices, bills, and bookkeeping records, making it a sensible starting point for new businesses or users who need basic features. Online payment fees still apply, and integrations and API connections require a paid subscription or Wave Advisors package.

Pro: $19.00 USD per month, billed monthly. It includes Starter plus automatic bank transaction import, merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. Online payments are available at discounted rates. Pro is the better fit for businesses seeking bookkeeping automation and access to Partner integrations, Make, or API connections; the monthly term avoids a longer billing commitment.

Platforms

Wave is available on the web and through Android and iOS apps, with API access subject to the plan requirements above. Mobile apps suit owners who need access away from a desk, while the API is not an unrestricted route to free-plan integrations.

Who it's for

Wave fits new and small businesses, independent operators, and teams that want invoicing, payment collection, customer records, and accounting connections in one workflow. Starter is appropriate for basic invoicing with transaction-based online collection; Pro makes more sense when bank imports, expense tracking, payment reminders, or integrations are important. It is not a fit for healthcare businesses or for teams that require integrations or API connections without a paid plan.

Pros and cons

Pros: Starter provides unlimited estimates, invoices, bills, and bookkeeping records at no subscription cost, giving basic operations room to grow without an invoice quota.
Pros: Recurring billing, multiple online payment methods, and accounting connections bring collection and bookkeeping into one workflow.
Pros: Pro adds bank transaction automation, unlimited receipt capture, expense tracking, and late-payment reminders for a clear monthly price.
Cons: Starter online payments incur per-transaction charges, which can become material for businesses with frequent or high-value card collections.
Cons: Partner integrations, Make workflows, and API-connected third-party apps require Pro or Wave Advisors, limiting the usefulness of the free plan for connected stacks.
Cons: Wave is not HIPAA-compliant and does not support healthcare-related businesses.

Alternatives

Consider FreshBooks if a paid invoicing product with Android, iOS, web, API, and extension platforms better fits your stack; its listed Lite, Plus, and Premium plans are $23.00 USD, $43.00 USD, and $70.00 USD, respectively.

BUSY is another freemium option, with a free Express billing and accounting plan for multiple companies and financial years. Choose Clear Books if its free Sole Trader plan, described as MTD-ready bookkeeping with no transaction limits, is a closer match.

FreeAgent offers freemium pricing and mobile apps for Android and iOS. Odoo Accounting is an alternative with a free plan and self-hosted availability.

Zoho Books offers a free plan for solopreneurs and micro businesses while annual revenue stays below $50K, with one user and one account. Choose Zoho Inventory when inventory workflows are the priority; its free plan caps usage at 50 orders per month, one user, and one location.

Akaunting is another freemium bookkeeping option, with its Standard Cloud plan at $12.00 USD per month for one company, one user plus one accountant, 1,000 invoices, and four included apps.

For category-specific comparisons, see Freelance Invoicing Software, Bookkeeping Software, Gym Accounting Software, Nonprofit Payroll Software, and Salon Accounting Software.

Verdict

Wave is a strong choice for a small business that wants generous free invoicing tied to customer records and accounting, with Pro available for bank automation and expense workflows. Choose it when those core workflows matter more than unrestricted integrations; look elsewhere if your stack depends on free API connections or your business handles healthcare data.

	Knit Payroll	Wave
Free plan	No	Yes
Free trial	Yes	No
Paid from	$4/mo	$15.83/mo
Open source	No	No
Platforms	Web	Android, api, iOS, Web
Free plan	No	Yes
Tax filing included	Yes	—
Time tracking	Yes	—
Paid from	—	19 /mo

Knit Payroll vs Wave

Knit Payroll

Wave