Wave

Overview

Wave is invoicing and payment software for businesses that want customer billing connected to accounting records. It suits people starting a business who need core invoicing without a subscription, and growing operators who can justify Pro’s added bookkeeping automation.

Its strongest case is a free starting point with unlimited estimates, invoices, bills, and bookkeeping records. The trade-offs are transaction fees on Starter payments and a paid-plan requirement for integrations and API connections.

Key features

Invoicing and payments

Businesses can create and send invoices, manage customer information, and tailor templates with a logo and brand colors using drag-and-drop editing. That is enough branding control for a small operation without a separate design workflow. Recurring invoices and automatic credit card payments also help reduce repeated billing work for repeat customers.

Customers can pay by credit card, secure bank payment (ACH/EFT), or Apple Pay. Starter keeps invoice volume unrestricted, but online collection costs 2.9% + $0.60 per credit card transaction or 3.4% + $0.60 per Amex transaction. Those per-payment charges make the free plan less attractive for businesses that collect frequently.

Bookkeeping and integrations

Wave connects invoice and payment information to its accounting feature. Pro adds automatic bank transaction imports, merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. These tools make the upgrade relevant to businesses that want fewer manual bookkeeping steps rather than invoicing alone.

Wave lists integrations including Amazon, eBay, Capsule, and Etsy, and supports workflows through Make. As of May 26, 2025, connecting or maintaining Partner integrations and Make requires Pro or a Wave Advisors bookkeeping subscription. Third-party app connections through the Developer Portal API also require an active Pro or Wave Advisors package, so Starter is not a fit for businesses depending on connected workflows.

Security and support

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 is not HIPAA-compliant and does not support healthcare-related businesses, ruling it out for that sector.

The Help Center and automated Mave chatbot are available around the clock to all customers. Eligible customers can contact support by email or live chat Monday to Friday, 9 AM to 5 PM Eastern.

Pricing

Starter costs nothing. It includes unlimited estimates, invoices, bills, and bookkeeping records, making it a practical fit for new businesses with basic needs. Online payments are available but carry the listed card transaction fees; the plan does not include Pro’s automated bank handling and expense tools.

Pro costs $19 a month, billed monthly. It includes Starter, discounted online payment rates, automatic bank transaction import, merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. It is the better choice when those bookkeeping and collection workflows save enough effort to warrant a recurring charge.

Platforms

Wave is available on the web and through iOS and Android apps. It also provides API access through its Developer Portal, subject to the active Pro or Wave Advisors requirement for third-party app connections.

Who it's for

Wave is best suited to small businesses and independent operators that want to invoice customers, accept payments, and keep billing information connected to bookkeeping. Starter suits those beginning with basic features and modest payment volume; Pro suits businesses ready to automate bank and expense work. Businesses that require healthcare compliance or integrations without a paid subscription should look elsewhere.

Pros and cons

• Pros: Starter has no stated caps on estimates, invoices, bills, or bookkeeping records, which lets a new business start without a subscription.
• Pros: Recurring invoices, multiple payment methods, and branded templates cover core customer billing needs in one workflow.
• Pros: Pro combines bank transaction automation, unlimited receipt capture, expense tracking, and payment reminders for businesses seeking less manual bookkeeping.
• Cons: Starter card payments carry per-transaction fees, which can add up for frequent collections.
• Cons: Integrations and API connections require Pro or Wave Advisors, limiting the usefulness of Starter for connected workflows.
• Cons: Wave is not HIPAA-compliant and does not support healthcare-related businesses.

Alternatives

For payroll rather than invoicing, Payroll4Free offers a free basic-services plan for 9 or fewer employees paid monthly, supported by advertising. Homebase is another freemium option if you are comparing labor-management software. PayFWDs has custom pricing tailored to employee count, payroll frequency, states worked, and time and attendance. Rippling is a paid alternative.

If you need a different accounting or payroll product, CDM+ has a paid monthly Essentials plan, while MIP Payroll offers payroll and HR modules with pricing by demo request. ADP Workforce Now offers payroll and HR plans, and Employment Hero lists plans by interview volume.

Browse Freelance Invoicing Software for more invoicing options, or compare Bookkeeping Software, Gym Accounting Software, Salon Accounting Software, and Nonprofit Payroll Software by category.

Verdict

Choose Wave if you want unrestricted basic invoicing at no subscription cost, with an affordable Pro path to bank and expense automation. Look elsewhere if your business needs healthcare compliance, or if integrations and API-connected workflows must work without a paid subscription.