As a business grows, FreshBooks can easily adapt as it offers additional features and resources through its multiple plans. Wave no longer supports UK businesses, but you don’t have to go at it alone. With dedicated UK support, HMRC approval and feature-rich plans, FreshBooks is the day-to-day accounting solution for your business needs. FreshBooks is the best free tool for tracking bills, and Wave is the best accounting software for retail operations.

Easily take the work-in-progress wip definition with examples hours you’ve logged and add them to a client’s invoice. Create projects for each client and invite your team to collaborate. FreshBooks wins this round as it’s the only one of the two with project management capabilities.

Pricing: Wave Wins

Even though it is a free option, Wave Accounting offers many of the features you need to run your business, including free invoicing, unlimited expenses and receipts. Have the reports that you need at your fingertips all the time with FreshBooks. In the Reports tab, you can access popular business accounting reports such as profit and loss, sales tax summary, aging accounts, invoice details and expense reports. Looking at these reports helps a business owner better understand their company’s financial health and is critical in the daily management of the organization. When it comes to features and capabilities, FreshBooks offers the commonly required features that all accounting software does.

Is Wave invoicing really free?

Stay on top of your tax records while taking the stress out of preparing and filing your end-of-year returns. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. We selected three categories in our case study to provide you with a more thorough comparison of FreshBooks vs Wave in terms of features.

It’s also possible to share files, attachments, and comments within a project. Tech.co’s research team analyzed all the top accounting software providers by identifying nine key sub-categories. Overall, FreshBooks offers better functionality, but only at higher plans. Wave has a solid feature set, even though it offers just a single inexpensive plan. No, it isn’t possible to reconcile bank statements manually in FreshBooks because it doesn’t allow you to upload files of transactions. Your only option for importing transactions is a live bank connection.

It goes over detailed pricing and inclusions, features, and more. Unlike Wave Payroll, Gusto and SurePayroll by Paychex can help you find healthcare and other benefits for your employees. Both providers also have more HR tools than Wave, including new-hire reporting and basic onboarding features. 4.4 out of 5 stars based on user reviews collected by G2Crowd as of January 2024. Find the perfect plan to support your business by visiting our pricing page. There’s no clear winner in this round, as both tools offer a similar number of reports.

Plans to makeyour plans happen.

The left sidebar will help you navigate through payments, expenses and any other functions you need. The simple layout is easy to understand, leaving little space for confusion. FreshBooks has a solid Projects feature that lets you collaborate with clients and team members. You can assign projects to clients, set up flat rate or hourly projects, and tailor your projects to your needs.

The Premium plan is $55 per month, and raises the billable client cap to 500, but adds no other important features. Finally, Select is available for corporations at a custom price, and adds a dedicated Account Manager, training, and lower credit card transaction rates. We went to user review websites to read first-hand reviews from actual software users.

1. Even as a beginner, you’ll get the gist of automating workflows easily, such as setting up a new client, adding a new bill, creating a project estimate, and sending an invoice.
2. Clients from any country can easily pay you in virtually any currency.
3. The bank reconciliation module must also let users reconcile accounts with or without bank feeds for optimal ease of use.
4. These reviews will give you a clearer understanding of what each platform provides, their pricing, and the user experience.

You can download iOS and Android apps that let you painlessly invoice your clients and track expenses wherever and whenever you need to. But you can’t solve all your accounting needs because that’s not what it’s built for. When growing businesses feel it’s time to upgrade from invoicing only, they choose FreshBooks to manage their books and deliver better results to their clients.