FreshBooks vs Wave
Side-by-side feature comparison and pricing breakdown.
Invoicing Wave offers unlimited free invoicing
✓
✓
Time Tracking FreshBooks has built-in time tracking
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✗
Client Limits FreshBooks Lite caps at 5 clients; Wave is unlimited
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✗
Expense Tracking
✓
✓
Financial Reports
✓
✓
Bank Imports Wave requires $16/mo Pro for automatic imports
✓
$
Receipt Scanning
✓
$
Pricing
$19/mo
Free Free Tier
Save 100% — Save $19/mo with Wave's free Starter plan
Verdict
Wave matches FreshBooks' core invoicing and accounting for free, making it the obvious choice for cost-sensitive freelancers. FreshBooks justifies its cost only if you heavily use time tracking and need its polished client experience.
Best for: Freelancers and small businesses who primarily need invoicing and expense tracking without client caps or fees
Last updated: 2026-03-01