People leave Wave when the free Starter plan stops covering how the business actually runs. Typical triggers are bank feeds that sit behind a paid plan, a second user who needs a login, payroll or customers outside the US and Canada, and support that is not part of the base offer. Destinations split between simple invoicing tools, full ledgers with accountant access, and national products tied to local tax rules.
Short answer: Looking for a replacement for Wave? FreeAgent, FreshBooks and Zoho Books come first in our accounting software ranking. Places 1 to 3 go to challengers, vendors outside the best-known brands in a category, wherever the category has them; the established names follow from place 4 in their ranked order. Start with FreeAgent if tax filing handled in the software, as a UK sole trader or contractor. These 11 products are all in Best Accounting Software in 2026; the notes say how each one compares with Wave.
Vendors can pay for more visibility on this website, for example a higher place in a ranking or more room on a page. Commercial relationships can also affect which products we feature and how prominently. Every vendor link is marked the same, whatever the arrangement behind it. How that works.
Pricing: Free Starter plan; Pro per business per month, published; fees on payments and payroll
Established in: Canada
Built for: A freelancer who needs free invoicing and basic books
Not for: A growing company with stock or payroll complexity
01
Why buyers look past Wave
01
Bank imports and extra users cost money
Wave lists Starter at 0 and Pro at 19 USD or 25 CAD a month billed monthly, or 190 USD or 250 CAD a year. Automatic bank transaction import through Plaid, where the bank supports it, and multiple users with admin, editor or viewer roles are Pro features. Pro is priced per business, so each business under one account needs its own subscription.
02
Card fees fund the free plan
Online payments on Starter cost 2.9% plus 0.60 USD per card transaction and 3.4% plus 0.60 USD for Amex. Pro drops the fixed part to 0 only for the first 10 transactions in a monthly period, after which the Starter rates apply. A business that collects many small payments should work out the total before assuming the software is free.
03
Currencies, payroll and support have limits
USD and CAD are the only currencies on the pricing page we read. Payroll covers Canada outside Quebec and the 50 US states, costing 40 USD (US) or 25 CAD (Canada) monthly plus 6 per employee or contractor. Support by chat and email runs Monday to Friday, 9 AM to 4:45 PM Eastern, with access tied to add-ons. Nothing in the offer covers local tax filing for European businesses.
a small-business ledger being outgrown, with consolidation across entities needed
#12
03
What each one does differently
1
FreeAgent
United Kingdom · Published
Contractors and very small UK companies are the audience. Per our category record, the software prepares tax returns and handles dividends, and certain UK business bank accounts include it without charge; otherwise a monthly fee applies. Invoices and bank accounts in other currencies work too. Multi-entity and real inventory are missing, which points to one or two people running the business.
Switch from Wave if tax filing handled in the software, as a UK sole trader or contractor.
A Canadian product whose Lite plan costs 23 USD monthly, plus 11 USD per additional user. Timesheets, straightforward invoices and a client portal appeal to anyone selling hours. Billable clients top out at five on Lite, and bank reconciliation with double-entry reports arrives only on Plus, so more clients means a higher tier.
Switch from Wave if hourly billing, with timesheets mattering more than journals.
Indian vendor with a free tier for businesses earning under 50K USD a year and paid plans charged per organisation. Professional adds projects and multi-currency, Elite adds inventory, and each user past the plan cap costs 3 USD. The real commitment is its pairing with other Zoho apps, where it fits best.
Switch from Wave if a no-cost ledger now, multi-currency later and possibly other Zoho apps.
A French company where business owner and accountant share one file, so nobody swaps exports. Independents get published invoicing plans: a free tier covers micro-enterprises without VAT, and paid plans begin at 7 EUR monthly. Company accounting is priced through the accountant. French practice shapes the whole product.
Switch from Wave if a French business whose accountant should open the same file.
Sweden's everyday small-business package, available whole or as single modules. Billing has several lines: a mandatory Access fee grows with transaction volume, and payroll adds a charge for every employee. Integrations and the accountant network justify the choice, though both matter only inside Sweden.
Switch from Wave if a Swedish company wanting the tool local accountants already use.
Dutch software shaped around tax, audit-file and accountant workflows in the Netherlands and Belgium. Monthly packages begin at Essentials, 49 EUR, and end at Premium, 299 EUR, each putting ceilings on users, on bank connections and on sales invoices. Most firms need a configuration costing multiples of the headline figure.
Switch from Wave if Dutch or Belgian trading, where compliant filings are required.
Norwegian origin, with Nordic compliance and bank connections that go deeper than a foreign vendor offers. Plans carry a published monthly price. Visma is a family of many products, so what you receive, and how good it is, varies by the country of purchase.
Switch from Wave if operations in a Nordic country, with local bank links needed.
British software structured around statutory filing for the UK and Ireland. Monthly plans are published, and payroll is sold separately. Its look is dated and few apps connect to it compared with larger rivals, yet accountants steering the decision frequently already know it.
Switch from Wave if your UK or Irish accountant insisting on it for filings.
New Zealand origin. Every plan allows unlimited users, and bank reconciliation, its strongest area, is available throughout. Early, the entry plan, allows 20 invoices and five bills a month. Only the top tier brings projects and multi-currency, while advanced inventory costs extra. Many apps plug into it.
Switch from Wave if several people opening the books, reconciliation being the daily job.
An American product billed per company file, with a user cap that rises through 1, 3, 5 and 25 with the plan. Inventory begins at Plus. One free plan exists, restricted to a single user and two invoices monthly. Bookkeepers and add-on tools widely support it, though upsell prompts appear often inside the product.
Switch from Wave if the product that bookkeepers and integrations already know.
Accounting is a single module inside a complete ERP here, quoted per organisation with no published price. Consolidation across currencies and multiple entities are covered. Months of implementation work are normal, so it solves a different problem from the one Wave addresses.
Switch from Wave if a small-business ledger being outgrown, with consolidation across entities needed.
FreeAgent: Returns and dividends are handled inside, and certain UK business bank accounts come with it at no charge.
02
You bill by the hour
FreshBooks: The Lite plan costs 23 USD monthly and covers five billable clients; every added user is 11 USD.
03
You want to stay on a free tier
Zoho Books: Revenue below 50K USD keeps it free, and higher plans bring projects and multi-currency.
04
Several colleagues need access to the books
Xero: Unlimited users come with all plans, while the Early plan allows only 20 invoices and five bills.
05
Your accountant should work in the same file
Pennylane: Company and accountant share a single file, and invoicing plans for independents begin at 7 EUR monthly.
04
When Wave is still the right choice
Wave stays sensible for a sole trader or small service business in the US or Canada that needs unlimited invoices, bills and basic double-entry bookkeeping at no subscription cost. If you key in bank lines by hand, work alone and take few card payments, Starter has little to replace. Compare the Pro price and card fees against your actual volume before moving.
05
What moving off Wave involves
01
Export your records before cancelling
According to Wave's pricing page, a cancellation takes effect when the billing period ends. Export invoices, customers and the chart of accounts during that window, then confirm the new ledger's opening balances agree with your last closed month.
02
Payroll and payment links need separate care
Payroll runs as its own service with a 30-day trial that starts after the first processed payroll, so plan a cutover at a pay period boundary. Customers who pay through Wave invoice links will need new payment links and a new processor approval, which depends on identity verification and credit review.
06
Questions about replacing Wave
6 answers
How much does Wave cost?
Starter is free. Pro is 19 USD or 25 CAD a month billed monthly, or 190 USD or 250 CAD a year, per business. Payroll, bookkeeping help and receipt add-ons are priced separately, and card processing carries fees.
Which plan includes bank imports?
Automatic bank transaction import through Plaid, where your bank supports it, is listed under Pro. The page does not guarantee support for every bank.
Does Wave work outside the US and Canada?
USD and CAD appear on the pricing page we read. Payroll is offered in the US and in Canada excluding Quebec. A ledger following local VAT and filing rules is usually what European businesses need instead.
Which alternative is free?
Zoho Books has a free tier for businesses under 50K USD annual revenue. QuickBooks Online has a limited free plan, Pennylane offers one to micro-enterprises without VAT, and FreeAgent costs nothing with some UK business bank accounts.
Is there a Wave alternative for freelancers who bill time?
FreshBooks centres on time tracking and invoices. Its Lite plan costs 23 USD monthly, though only five billable clients fit on it.
Can several people use Wave?
Pro lists multiple users with admin, editor or viewer roles. If user count is your main constraint, Xero lets everyone in on every plan.
—
Sources
Checked 4 November 2026
Wave pricing: Starter 0; Pro 19 USD or 25 CAD monthly or 190 USD or 250 CAD yearly, per business; bank import and users listed under Pro; card fees; support hours; USD and CAD.
Wave payroll: Canada except Quebec and US, 40 USD or 25 CAD base plus 6 per employee or contractor, 30-day trial.
FreshBooks: Lite at 23 USD; five billable clients on Lite; additional users cost 11 USD.
Pennylane: Shared accounting with the accountant; free tier for micro-enterprises; paid from 7 EUR monthly.
Fortnox: Packages and modules; Access fee; Swedish standard.
Exact Online: Essentials 49 EUR, Premium 299 EUR, NL and BE compliance.
FreeAgent: UK contractors; no charge with some business bank accounts.
Xero: Unlimited users; Early plan limits; bank reconciliation.
QuickBooks Online: Free plan limits; cap of 1 user on the entry tier up to 25 on the top tier.
Founder of The Knowledge Engineers and of 2 Steps Ahead, an AI search visibility agency. Editorially responsible for every page on this site; research and drafting are AI-assisted.
Sebastiaan Smits wrote and checked this page, most recently on 4 November 2026. See how we review.
