Wave vs QuickBooks Online
Wave and QuickBooks Online serve different points on the price spectrum. Wave is free (with optional paid payroll and payments), making it the go-to for freelancers and very small businesses. QuickBooks is the paid industry standard with deeper features, better accountant support, and more integrations.
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Free accounting for small businesses vs Small business accounting.
| Feature | Wave | QuickBooks Online |
|---|---|---|
| Pricing from | Free | $30/month |
| Accounting software cost | Free | $30-200/month |
| Invoicing | Yes - unlimited, free | Yes |
| Payroll | Paid add-on ($20-35/month) | Paid add-on |
| Inventory | No | Yes |
| Accountant-ready reports | Good | Better - more formats, exports |
| Best for | Freelancers, 1-3 person businesses | Small businesses of all types |
The third option most teams miss
Picking between Wave and QuickBooks Online isn't the only choice.
For very small teams that want a custom budget tracker or expense dashboard beyond their free accounting tool, Appaca builds it for free.
- No code, no deployment, no devops
- Built-in database, dashboards, team access
- Refine with chat as your needs change
- Free to start, no per-seat pricing surprises
Common questions
Yes - Wave accounting (invoicing, expenses, reports) is free forever. Wave charges for payroll ($20-35/month) and payment processing (fees per transaction).
Consider switching when you need inventory tracking, time tracking, class-based accounting, or when your accountant recommends it. Most businesses with 5+ employees and complex finances outgrow Wave.
Appaca is a third option for teams that don't want to choose between two existing tools. Instead of forcing your workflow into someone else's product, Appaca builds a custom app from a description - with built-in database, hosting, and team access. Try it free at appaca.ai.