However, Xero doesn’t have a free plan, with monthly subscriptions starting at $15. With limitations on Xero’s lowest-tier plans, users will have to upgrade to a more expensive option to take advantage of everything the software has to offer. For example, QuickBooks Online doesn’t have a free plan, but offers four paid plans, each with additional features, making it a great choice for scalability. With the higher-tier QuickBooks plans, you have access to inventory management, how to calculate fifo and lifo billable expenses and project profitability tools, none of which are offered with Wave. You can effectively analyze the financial health of your business, find ways to generate more profit, and move forward with your business plan.

Wave is cloud-based software that boasts a solid set of accounting features suitable for most small businesses. In our last review, we found these features especially appealing because they were all completely free with no artificial limits. NerdWallet independently reviews accounting software products before determining our top picks.

Next, you can add sales tax (if necessary), create customer profiles and customize your invoice templates. After providing a few basic details about your business — name, type, currency you use, address — you’ll have instant access to your account. Give your customers the option of paying with one click using a credit card, bank transfer, or tip 15 percent Apple Pay. Create beautiful invoices, accept online payments, and make accounting easy—all in one place.

Unlimited accounting, starting at free.

If your business needs these features or automations, check out these top Wave alternatives to fully explore your accounting software options. We also ensure that the software offers most standard accounting features and reports, awarding higher rankings to those that provide advanced services, like tax filing. Wave is designed specifically for small business owners to use, no matter what kind of bookkeeping background they come from. The software supports multiple companies and offers personal accounting as well. Wave improved its software and has addressed many customer complaints in its latest redesign, including adding 1099 payroll support, duplicate transaction management, and cash-basis accounting.

Plans to makeyour plans happen.

FreshBooks is an affordable option for freelancers and small service-based businesses that operate mostly on the go. Moreover, you can integrate QuickBooks with hundreds chanel history of third-party tools available in the app marketplace. There are also add-on Intuit services like QuickBooks Payroll or QuickBooks Time. Support for non-paying users is limited to the chatbot and self-service Help Center. « Wave invoicing makes your life a whole lot easier and takes that worry off you. I’ve tried Quickbooks—it’s a bit more complicated and technical, and takes more time to set up. »

Our tools work together, so you work less.

QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses. Only integrates with in-house apps, like Wave Payments and Wave Payroll; does not integrate with card readers for in-person payments. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.

1. This can help you save time and make financial decisions quickly.
2. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website.
3. We built our payroll tool for small business owners, so it’s easy to use AND teaches you as you go.
4. It can allow you to manage all your accounting processes without paying a dime.
5. At the time of our last review, we noted that Wave “has always been and always will be free,” and that the company planned to maintain this pricing structure following its acquisition by H&R Block.

Here is a list of our partners and here’s how we make money. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. Let us know how well the content on this page solved your problem today. All feedback, positive or negative, helps us to improve the way we help small businesses. One of the most helpful features of Wave is its tax filing feature.