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Review 2026

Wave

★★★3.8/5
accountingFrom £0/month

Reviewed by the Ikaroa team | Last updated: March 2026

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Starting Price

£0/month

Founded

2009

Headquarters

Toronto, Canada

Our Rating

3.8/5

Overview

Wave is a genuinely free accounting platform for small businesses. It offers invoicing, accounting, receipt scanning, and financial reporting at no cost. Wave makes money through optional paid services like payroll, payments processing, and bookkeeping. Ideal for freelancers and micro-businesses on a tight budget.

We have been working with Wave across multiple client projects since 2011, and this review reflects our hands-on experience implementing it for businesses of all sizes.

Key Features

✓Invoicing
✓Accounting
✓Receipt Scanning
✓Financial Reports
✓Bank Connections
✓Payroll (paid)
✓Payments (paid)
✓Multi-currency
✓Journal Entries
✓Dashboard

Wave Pricing

Free

£0/month

  • •Unlimited invoicing
  • •Accounting
  • •Receipt scanning
  • •Financial reports

Pro (Payments)

2.9% + 30p per transaction

  • •Online payments
  • •Bank payments
  • •Recurring billing

Pro (Payroll)

£16/month + £5/employee

  • •Self-service payroll
  • •Direct deposits
  • •Tax filings
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Pros & Cons

Pros

  • +Completely free for core accounting and invoicing
  • +No user or feature limits on free plan
  • +Easy to learn for beginners
  • +Receipt scanning via mobile app
  • +No trial period or hidden fees for core features

Cons

  • -Revenue comes from payment processing fees
  • -No inventory management
  • -Limited integrations
  • -No project tracking or time tracking
  • -Payroll only available in US and Canada
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Who Is Wave Best For?

Freelancers and micro-businesses wanting genuinely free accounting and invoicing

Alternatives to Wave

View all Wave alternatives →

Related Comparisons

Our Verdict

Wave earns a strong 3.8/5 in our review. With pricing starting at £0/month, it offers completely free for core accounting and invoicing. While revenue comes from payment processing fees, it remains a solid choice for freelancers and micro-businesses wanting genuinely free accounting and invoicing...

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Wave FAQ

Is Wave worth it in 2026?▼

Wave rates 3.8/5 in our review. It is best suited for Freelancers and micro-businesses wanting genuinely free accounting and invoicing. Whether it is worth it depends on your specific needs and budget.

How much does Wave cost?▼

Wave pricing starts at £0/month for the Free plan. Check the pricing section for a full breakdown.

What are the best alternatives to Wave?▼

Top alternatives to Wave include QuickBooks, Xero, FreshBooks. Visit our alternatives page for a detailed comparison.

Does Wave offer a free plan?▼

Yes, Wave offers a free plan that includes Unlimited invoicing, Accounting, Receipt scanning.

Ikaroa Partners

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