Wave

Wave gives small business owners a free accounting backbone: send invoices, scan receipts, and track expenses without paying a monthly subscription for the core features.

What it does

Wave provides double-entry accounting, invoicing, and receipt capture via mobile app. The free tier includes unlimited income and expense tracking, bank reconciliation, and customizable invoices. Payment processing (credit card and bank transfers) and payroll are paid add-ons.

Best for

• Freelancers and solopreneurs who need basic accounting without monthly costs
• Small businesses with fewer than 10 employees
• Service-based businesses that send invoices and track expenses

Strengths

• Core accounting features are genuinely free with no time limits
• Mobile receipt scanning with automatic data extraction
• Unlimited bank and credit card connections for auto-import
• Built-in invoicing with payment reminders and recurring options

• Free Accounting — Unlimited income and expense tracking, bank reconciliation, and financial reports with no monthly fee.
• Invoicing — Create and send professional invoices with customizable templates, automatic payment reminders, and recurring billing.
• Receipt Scanning — Snap receipts via mobile app; Wave extracts amounts, dates, and categories automatically.
• Bank Connections — Link unlimited bank accounts and credit cards for automatic transaction import and categorization.
• Payment Processing — Accept credit cards (2.9% + $0.60 per transaction) and bank payments (1% per transaction) directly from invoices.
• Payroll (paid add-on) — Run payroll for employees and contractors in the US and Canada, with tax filing included.