Best Wave Alternatives 2023 (Top 10 Similar Competitors) (2023)

For some users, Wave can be a fantastic accounting solution as it's free, user-friendly, and has excellent features like unlimited income and expense tracking. However, there are plenty of Wave competitors that might seem as a better choice.

This Wave review will help you make a decision which tool is the best for your needs. In this post, we'll look at the best Wave alternatives, along with their best features and pricing plans. Hopefully, one of these tools will fit the bill for what you need from an accounting software.

So, let’s get started!

Top 10 Wave competitors with similar products

Here are the apps like Wave that we think are the best Wave alternatives. Although they are all fairly similar, some Wave competitors will be better suited to your circumstances than others, so read more about the Wave competition below.

Here’s our full list of the best Wave alternatives 2022:

It’s time to dive deeper into this Wave review that explores the best Wave alternatives. We’ll see which one of the ten great Wave accounting alternatives is most similar to Wave and which one is the most affordable. We also have a detailed Wave review where you can get a deeper look into the software’s pros and cons.

Here are 10 good alternatives to Wave:

1. Quickbooks Online (best Wave alternative overall)

QuickBooks Online requires no introduction as it's one of the most widely used online accounting software on the market for small and medium-sized businesses. We named it the best alternative to Wave because it's intuitive, automates many functions, and has a good deal of accounting features.

In some aspects, this software is better than Wave. For example, it can be a great option if you're already using a QuickBooks product, like QuickBooks Payroll, QuickBooks Time, or QuickBooks Payments as QuickBooks Online integrates seamlessly with other products in the Quickbooks universe.

Another perk of the system is that the first three months of any monthly plan are 50% off. One downside is there's no free plan, but you can take the software for a spin for free for 30 days. There are four monthly plans to opt for, ranging from $30 per month to $200. In terms of functionality, there is a good deal of invoicing features, online payments, expenses, estimates, and reporting features.

On the plus side, some of the higher plans have time-tracking, bill management, project profitability, and inventory management features.

Quickbooks Online is best for:

• Startups

• Small businesses

• Medium-sized businesses

• Freelancers

Features

• Invoicing

• Income and payments

• Expenses

• Sales tax

• Bill management

• Estimates

• Cash flow planner

• Reports

• Project profitability

• Inventory management

Pricing

• Simple Start: $15 /month for the first three months, then $30

• Essentials: $27.50 /month for the first three months, then $55

• Plus: $42.50 /month for the first three months, then $85

• Advanced: $100 /month for the first three months, then $200

• Self-employed for freelancers: $7.50/month for the first three months, then $15

QuickBooks Online review

Visit QuickBooks Online

2. Zoho Books (best free Wave alternative)

We voted Zoho Books one of the best free Wave alternatives as it comes with a generous free plan that's great for lightweight use. The freemium version includes basic features like online invoicing, estimates, online payments, multi-lingual invoicing, expenses, mileage tracking, bank reconciliation, and 1099 contractors. It supports one user plus accountant access.

But if you need access to more advanced features and users, you'll have to subscribe to one of the paid plans, which are five in total. The monthly price of the software ranges between $15 and $240.

Some more advanced features that are not included in the free plan but you can find in the paid plans are multi-currency handling, project profitability, automated workflows, recurring bills, and sales and purchase orders.

Zoho Books integrates with other Zoho products like Zoho Projects and Zoho CRM, as well as with third-party apps like Google Workspace, Slack, and Zapier. In terms of payment gateways, it has more payment gateway options than other accounting tools, including Paypal and Stripe.

Zoho Books is best for:

• Freelancers

• Self-employed

• Startups

• Small ecommerce businesses

Features

• Invoices

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• Expenses

• Estimates

• Bills

• Client portal

• Banking

• Online payments

• Projects

• Sales and purchase orders

• Sales tax

• Inventory

• Mobile apps

• Integrations

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• Reports

Pricing

• Free

• Standard: $15 /month billed annually

• Professional: $40 /month billed annually

• Premium: $60 /month billed annually

• Elite: $120 /month billed annually

• Ultimate: $240 /month billed annually

Zoho Books review

Go to Zoho Books

3. Freshbooks (most similar to Wave)

Several things make Freshbooks very similar to Wave. For one, they're both geared towards freelancers and solopreneurs. As such, both tools come with a user-friendly interface, a generous set of features, and responsive customer support. Both platforms are great for newbies as they don't overwhelm you with unnecessary functionality.

Although Freshbooks doesn't have a free plan, all the most important features are included in each plan. All plans include unlimited invoices, time tracking, recurring invoices, unlimited estimates, customizable invoices, online credit card payments, and online ACH bank transfers. Plans range from $13.50 per month to $45.

There's even a custom plan for businesses with more specific needs. Currently, there's a 60% off on all plans for the first four months. The software is even available for iOS and Android, which makes it easier to work on the go.

Freshbooks is best for:

• Freelancers

• Self-employed

• Solopreneurs

• Small business owners

Features

• Invoicing

• Time tracking

• Expenses

• Clients

• Payments

• Projects

• Estimates and proposals

• Accounting and reports

• Add-ons

• Basic automation

Pricing

• Lite: $13.50 /month billed annually

• Plus: $22.50 /month billed annually

• Premium: $45 /month billed annually

• Select: contact vendor for pricing

Freshbooks review

Go to Freshbooks

4. Xero (good Wave alternative if you need unlimited users)

Xero is a popular cloud-based accounting solution with an extensive suite of features, advanced financial reports, and 800+ integrations with third-party apps. It's geared toward small and growing businesses and their accountants, but the lower-tier plan can also be suitable for personal finance. There's no free plan, only a 30-day trial.

Additionally, you can explore and play around with the software's features by logging in as a demo company without worrying you’ll make a mistake. All the basic accounting features are included in each plan, including bank connections, inventory, reporting, online payments, and purchase orders.

Unlike other software that limits the number of users, Xero doesn't impose any limits. You can have as many users as you want on each plan. Xero is suitable for many markets, such as e-commerce, IT, legal, and retail.

Xero is best for:

• Freelancers

• Startups

• Small businesses

• Accountants and bookkeepers

Features

• Bank connections

• Inventory

• Reporting

• Accept payments

• Purchase orders

• Files

• Sales tax

• Client portal

• Expenses

• Projects

• Multi-currency accounting

• Payroll with Gusto

Pricing

• Early: $12 /month

• Growing: $34 /month

• Established: $65 /month

Xero review

Go to Xero

5. myBooks (cheaper alternative to Wave if you’re on a budget)

myBooks is a free online accounting software built by the Indian software company Zetran. It’s part of a larger suite of products this company has created, including myPlan and myStaff, which are a financial planning software and HR management software, respectively.

We voted myBooks as the best cheap alternative to Wave for several reasons. One of the reasons is that it comes with a free plan that supports one user and allows for up to 25 monthly transactions. The cheapest plan costs only $4.99 per month and supports three users. The software lets you import your transactions for streamlined monitoring.

There’s a neat accounting dashboard that gives you real-time data on your financial health. You can see cash flow, expenses, profits and loss projections. There are also pre-built templates you can use to create custom invoices.

MyBooks is best for:

• Freelancers

• Startups

• Small businesses

Features

• Payment Integration

• Multi-Division/Branch

• Transactions

• Profitability Analysis

• Priority Support

• Automatic Bank Feed

• SMS Integration

• Purchase Order

• Android & IOS app

Pricing

• Free plan

• Standard, $4.99 /month billed annually

• Premium, $9.99 /month billed annually

• Enterprise, custom quote

Go to MyBooks

6. GnuCash (top open-source Wave alternative)

GnuCash is a free and open-source accounting software for small businesses. This is one of the major pros of the software; you can use it completely free of charge thanks to open-source development. This makes it a top-notch tool for startups, small businesses, and freelancers who need a more lightweight solution for their accounting and bookkeeping needs.

The software uses the double-entry accounting method, which means you'll be required to add data manually. It comes with features such as invoicing, payments, and budgeting. What's more, it has multi-currency capabilities and supports over 20 languages, which makes it a suitable choice for businesses that operate internationally.

You'll also find a wide range of management reports and financial statements that can be used for reporting.

GnuCash is best for:

• Startups

• Small businesses

• Freelancers

Features

• Double-entry accounting

• Scheduled transactions

• Reports and graphs

• Statement reconciliation

• Invoicing

• Bill payment

Pricing

• Free to use

Go to GnuCash

7. Sage Accounting (great Wave substitute for solo entrepreneurs and startups)

The good thing about Sage Accounting is that it’s one of the three Sage accounting products in the Sage universe; the other two software solutions are Sage 50cloud and Sage Intacct. Small businesses can start with Sage Accounting, and from there, it's very easy to scale up and upgrade to 50cloud or Intacct if your business grows.

The pricing structure is very straightforward, where you get to choose between two monthly plans. The Sage Accounting Start plan costs $10 per month and is ideal for self-employed and micro-businesses. The Sage Accounting plan is $25 per month and is geared towards small businesses.

The good news is Sage regularly has special deals for first-time subscribers. Currently (November 2022), there's a 70% off on the Sage Accounting plan for the first six months, which means you'll be paying $7.50 per month instead of $25.

Some of the features you'll find with Sage Accounting include invoicing, estimates, expenses, billing, snap receipts, accounts payable and receivable, and cash flow forecasting.

Sage Accounting is best for:

• Startups

• Solopreneurs

• Freelancers

Features

• Invoices

• Billing

• Snap receipts

• Accounts payable

• Cash flow forecasting

• Purchase invoicing

Pricing

• Sage Accounting Start, $10 /month

• Sage Accounting Standard, $25 /month

Go to Sage Accounting

8. Zipbooks (good Wave accounting alternative for invoicing clients)

ZipBooks made it to our list of best Wave alternatives for a few reasons. The software has a clean and uncluttered user interface, offers a generous set of features, and on the plus side, it’s very affordable.

There’s a free plan that lets you send unlimited invoices and estimates, manage an unlimited number of vendors and customers, accept digital payments, get basic reports, and connect one bank account. It comes with powerful invoicing features that support the creation of professional invoices for customers.

You can customize your invoices, add notes and messages, and even create and auto-send recurring invoices. You can also create invoice templates in order to avoid creating the same invoice over and over again. Paid plans start at $15 per month.

ZipBooks is best for:

• Self-employed

• Startups

• SMBs

Features

• Accounting

• Expenses

• Invoicing

• Time tracking

• Payments

• Estimates

• Projects

• Contacts

• Reports and insights

• Integrations

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Pricing

• Free

• Smarter: $15 /month

• Sophisticated: $35 /month

• Accountant: Contact vendor

ZipBooks review

Go to ZipBooks

9. Kashoo (top Wave replacement for mid to large size small businesses)

Kashoo is a SaaS small business accounting solution that comes with a generous set of features at an affordable price.

The software lets you do all the most important accounting tasks, like sending invoices, tracking your expenses, receiving payments, doing end-of-the-year accounting, and getting a view of your cash flow.

There's one paid plan that costs $30 per month. It comes with a good set of features, including invoicing, online payments, tracking income and expenses, sales tax tracking, advance reporting, and multi-currency.

The same company has two other products called TrulySmall Invoices and TrulySmall Accounting. TrulySmall Accounting is a free and easy-to-use invoicing tool for truly small businesses, while TrulySmall Accounting costs $20 per month and is a full accounting solution for truly small businesses.

Kashoo is best for:

• Freelancers

• Startups

• Small businesses

Features

• Invoicing and payments

• Income and expenses

• Bills to pay

• Reports

• Bank reconciliation

• Banking

• Mobile app

• Users and account management

• Add-ons

• Projects

Pricing

• $30 /month

Kashoo review

Go to Kashoo

10. Freeagent(top Waveapps alternative for freelancers)

FreeAgent is a small business accounting software made for freelancers, small business owners, and their accountants. The platform comes with all the essential accounting capabilities, such as invoicing and estimates, expense tracking, and banking.

There's a time tracking functionality that lets you record time with an in-built stopwatch or smart timesheets. There's also a great real-time dashboard to keep track of your financial health. With the Projects feature, you can get a bird's eye view of the performance of your income, expenses, and profitability.

Pricing is very straightforward; there's only one paid plan that includes all the features. It's $10 per month for the first six months, then $20.

Freeagent is best for:

• Small businesses

• Medium-sized businesses

Features

• Estimates

• Invoices

• Expenses

• Time tracking

• Dashboard

• Banking

• Projects

Pricing

• $10 /month for six months, then $20 /month

Go to FreeAgent

Which of the alternatives to Wave accounting is a good choice for you?

This is a complicated question, but we'll try to give you the best possible answer.

We voted QuickBooks Online as the best alternative overall as it's many things at the same time. It's user-friendly, affordable, and has a generous accounting feature set.

However, the best accounting software for your business will depend on many factors, like your budget, preferences, type of business, and more.

Zoho Books can be a good option if you need a free tool, while GnuCash can be a solid option if you're after an open-source solution. Kashoo is ideal for mid to large-size small businesses, while Freeagent and Freshbooks can be a top pick for freelancers.

Make sure you take advantage of the free plans or trials to get a feeling of the software of your choice. And in case you didn’t find what you were looking for, we have a separate post that discusses 15 of the best accounting program tools.