Overview

Wave is invoicing and payment software for small businesses and independent operators who want to connect customer billing with bookkeeping. Its free Starter plan covers core invoicing, while Pro adds bank transaction tools and expense features for $19.00 USD per month.

Its strongest fit is a business that can work within Wave’s ecosystem and pay per transaction for online collections. It is a weaker fit for healthcare businesses or anyone who needs integrations or API connections without a paid subscription.

Key features

Invoicing and collection

Wave lets businesses create and send invoices, manage customer information, and customize invoice templates with a logo and brand colors using drag-and-drop editing. That gives a small operation room to present a consistent brand without needing separate design software. Recurring invoices and automatic credit card payments can reduce routine billing work for repeat customers.

Customers can pay invoices by credit card, secure bank payment (ACH/EFT), or Apple Pay. The free Starter plan has no stated invoice or bookkeeping-record quota, but online payments carry transaction fees: 2.9% + $0.60 per credit card transaction and 3.4% + $0.60 per Amex transaction. Those charges matter for businesses with frequent or high-value collections.

Accounting, expenses, and integrations

Wave connects invoice and payment information to its accounting feature. Pro adds automatic bank transaction import, transaction merging and categorization, unlimited receipt capture and expense tracking, and automated late-payment reminders. These tools make the paid tier more compelling for owners who want to reduce manual bookkeeping; Starter is the leaner choice when basic invoicing is enough.

Wave lists integrations including Amazon, eBay, Capsule, and Etsy, and supports workflows through Make. Since May 26, 2025, connecting to or maintaining existing Partner integrations and Make requires Pro or a Wave Advisors bookkeeping subscription. Third-party apps connected through Wave’s API likewise require an active Pro plan or Wave Advisors package, so the free plan is not suitable when those connections are essential.

Wave says data in transit is protected with up to 256-bit TLS encryption and that it is a PCI Level 1 Service Provider. It also says it is not HIPAA-compliant and does not currently support healthcare-related businesses.

Pricing

Starter

0.00 USD per free. Starter includes unlimited estimates, invoices, bills, and bookkeeping records. Wave describes it as suited to people starting a business or seeking basic features. Online payments are available, but transaction fees apply at 2.9% + $0.60 per credit card transaction and 3.4% + $0.60 per Amex transaction. It is a sensible starting point for businesses that do not need Pro’s automation or restricted integrations.

Pro

19.00 USD per month, billed monthly. Pro includes Starter, discounted online payment rates, automatic bank transaction import, automatic transaction merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. Choose it when expense and bank-feed automation justify a recurring monthly cost, or when Partner integrations, Make, or API-based third-party connections are required. The plan terms provided do not state a seat limit or trial period.

Platforms

Wave offers web access and mobile apps for iOS and Android, plus an API for developers. The API’s third-party app connections require Pro or Wave Advisors.

Who it's for

Wave is best for small businesses and freelancers that need branded invoices, recurring billing, and a straightforward path from collections into bookkeeping. Starter suits basic billing with transaction fees accepted; Pro is a better match for owners who want bank imports, expense tools, reminders, or integrations. Healthcare businesses should look elsewhere because Wave says it is not HIPAA-compliant and does not support healthcare-related businesses.

Pros and cons

Pro: Starter has unlimited estimates, invoices, bills, and bookkeeping records, making it useful for a new business that wants to avoid a monthly software charge.
Pro: Recurring invoices, multiple payment methods, and automatic card payments support repeat-customer billing.
Pro: Pro combines bank transaction automation, unlimited receipt capture, expense tracking, and late-payment reminders for a single monthly price.
Con: Starter’s online payment fees can add up, especially for businesses processing many card payments.
Con: Partner integrations, Make workflows, and API connections require Pro or Wave Advisors, limiting the usefulness of the free tier for connected workflows.
Con: Wave is not a suitable option for healthcare businesses that require HIPAA compliance.

Alternatives

For a broader set of accounting-category choices, compare Bookkeeping Software. Industry-specific roundups include Salon Accounting Software and Gym Accounting Software; freelancers can also browse Freelance Invoicing Software. For payroll-focused needs, see Nonprofit Payroll Software.

Choose Payroll4Free instead when payroll is the priority and a free, advertising-supported service for 9 or fewer employees paid monthly fits. Consider CDM+ if you want accounting software with a free trial and a $25.00 USD per month Essentials plan for one program and one user. Rippling, ADP Workforce Now, Employment Hero, Homebase, PayFWDs, and Justworks Benefits are alternatives to compare for other business software needs.

Verdict

Choose Wave if you are a small business or freelancer who wants branded invoicing, recurring payment collection, and connected bookkeeping, with a free starting point and an optional $19.00 USD per month upgrade for expense automation. Look elsewhere if online payment fees undermine your margins, your workflows depend on integrations but you do not want Pro, or you operate in healthcare.

	OnPay	Wave
Free plan	No	Yes
Free trial	Yes	No
Paid from	$49/mo	$15.83/mo
Open source	No	No
Platforms	Android, iOS, Web	Android, api, iOS, Web
Free plan	No	Yes
Paid from	49 /mo	19 /mo
Tax filing included	Yes	—
Multi-state payroll	Yes	—

OnPay vs Wave

OnPay

Wave