Wave

Wave is a simple accounting and invoicing tool for freelancers, solopreneurs and very small businesses in the United States and Canada, owned by H&R Block. The Starter plan is free and includes unlimited invoicing, estimates, income and expense tracking, double-entry bookkeeping and basic financial statements, which is more than most free tiers in this category offer. Wave earns revenue from payment processing (approximately 2.9% plus $0.60 per card transaction and 1% for bank payments) and from its paid Pro plan and payroll add-on.

The Pro plan costs approximately $16 per month and adds automatic bank transaction imports, unlimited receipt scanning, automated late-payment reminders and discounted processing rates on a limited number of transactions per month. Since 2024 bank connections are no longer part of the free plan, so Starter users must upload statements manually. Payroll is a separate monthly subscription whose base fee depends on whether Wave files taxes in your state.

Wave suits people who need clean invoices and simple books without paying a subscription. It is not a fit for businesses outside the US and Canada, anyone needing inventory, project accounting or multi-user permissions, or companies that expect to outgrow basic reporting.