Wave Review 2026 - Features, Pricing & Deals

Wave is a financial management platform built for small businesses and freelancers. It combines accounting, invoicing, and payment processing tools in one package. The software helps users handle daily financial tasks like creating invoices, tracking expenses, and managing payroll.

The platform offers both free and paid options to suit different business needs. The free version includes essential features like unlimited invoicing, basic bookkeeping, and expense tracking. For more advanced needs, paid plans add features such as automated bank transaction imports and receipt scanning.

Small business owners can use Wave to accept credit cards, ACH bank transfers, and Apple Pay. The software also helps with tax preparation by generating financial reports and handling payroll tax calculations in supported states. The platform doesn't include financial forecasting or inventory management tools, so larger businesses will need to look elsewhere.

Wave's interface makes it easy for users without accounting experience to manage their business finances. The mobile app lets users handle tasks on the go, from sending invoices to capturing receipts. Customer support is limited for free users—you'll get access to an automated help center but not much else.

• Unlimited Invoicing and Payments: Create and send unlimited professional invoices with multi-currency support, customizable templates, recurring billing, and automated payment reminders.
• Double-Entry Accounting System: Full double-entry bookkeeping with automated transaction reconciliation, financial reporting, and bank account integration.
• Smart Expense Management: Capture digital receipts, track business expenses, and manage spending with mobile-friendly receipt scanning up to 10 receipts per scan.
• Payroll Processing: Handle employee and contractor payroll with automated tax form generation and state-specific tax filing support.
• Real-Time Cash Flow Insights: Monitor pending and completed payments, track customer interactions, and get financial visibility through profit and loss statements, balance sheets, and cash flow reports.
• Business Productivity Features: Multi-user access, client management for accountants, task management, invoice tracking, cloud backup, and PCI Level-1 security with 256-bit encryption.

• Starter Plan is completely free and includes unlimited invoices, estimates, bills, bookkeeping records, expense tracking, financial reports, mobile app access, and the ability to add multiple users.
• Pro Plan costs $28.50 per month for the first 3 months (then standard rate), providing auto-import and auto-merge bank transactions, automatic transaction categorization, unlimited digital receipt capture and expense tracking, automated late payment reminders, and priority support.
• Transaction fees for online payments on Starter Plan: 2.9% + $0.60 per transaction for Visa/Mastercard/Discover, 3.4% + $0.60 for American Express, and $0.60 per ACH bank payment.
• Pro Plan users get discounted payment processing: 2.9% + $0 for first 10 Visa/Mastercard/Discover transactions per month, 3.4% + $0 for American Express (first 10), then standard $0.60 fee applies after that.
• Optional add-on for Payroll services starting at $40 per month plus $6 per active employee or contractor in supported states.

Wave offers a truly free Starter Plan that includes unlimited invoicing, bookkeeping, and expense tracking. There are no monthly fees for these core features. You'll only pay when you use optional services like payment processing (2.9% + $0.60 per credit card transaction on the free plan), payroll ($40/month plus $6 per employee), or if you upgrade to the Pro Plan ($28.50/month for the first 3 months) for features like automatic bank imports and unlimited receipt scanning.

Wave is more budget-friendly than QuickBooks or FreshBooks since its core features are free. QuickBooks and FreshBooks offer more advanced features like inventory management, time tracking, and project profitability tools. Wave works well for freelancers and small service businesses who need basic accounting and invoicing. If you need advanced reporting, better third-party integrations, or industry-specific features, you might outgrow Wave as your business expands.

Yes, Wave takes security seriously. They use bank-level 256-bit encryption for your data, maintain PCI Level-1 certification for handling payment information, and create read-only connections to your bank accounts. Your financial information is stored on servers with multiple layers of security and regular backups. Wave also offers two-factor authentication to add an extra layer of protection to your account.

Yes, you can accept credit card and bank payments directly through Wave invoices. Your clients can pay you online with Visa, Mastercard, Discover, American Express, ACH bank transfers, or Apple Pay. Wave charges 2.9% + $0.60 per credit card transaction on the Starter Plan (3.4% + $0.60 for American Express) and $0.60 for bank payments. Pro Plan users get reduced fees with no per-transaction charge on their first 10 monthly transactions. Funds typically reach your bank account in 2-7 business days.

Wave works for businesses in many countries, with full functionality in the US, Canada, UK, and Australia. You can create invoices in almost any currency and the system handles currency conversion. However, some features like payroll are only available in the US and Canada. Bank connections also vary by country, with the strongest support for North American financial institutions. Tax settings can be adjusted for different regions, but you should check if it meets your local tax requirements.