Overview

Wave is invoicing and payment software for businesses that want billing and bookkeeping records connected in one workflow. It suits small operators starting out or needing routine invoicing; the trade-off is transaction fees on Starter and a Pro subscription for bank-transaction automation and third-party connections.

Key features

Invoicing and payments

Businesses can create and send invoices, manage customer information, and customize templates with a logo and brand colors using drag-and-drop editing. Recurring invoices and automatic credit card payments help with repeat billing, while customers can pay by credit card, secure bank payment (ACH/EFT), or Apple Pay. This is a practical core for service businesses collecting directly against invoices, but free invoicing does not mean free payment processing.

Accounting, expenses, and connections

Invoice and payment information connects to Wave’s accounting feature. Pro adds automatic bank transaction import, transaction merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders. Those additions reduce manual bookkeeping work, making Pro more compelling for businesses that handle regular bank activity and expenses than for those that only need to send invoices.

Wave names Amazon, eBay, Capsule, and Etsy among its integrations and supports workflows through Make. Since May 26, 2025, connecting to or keeping existing Partner integrations and Make workflows requires Pro or a Wave Advisors bookkeeping subscription. Third-party app connections through the Developer Portal API likewise require an active Pro plan or Wave Advisors package. That paid gate is a meaningful constraint for businesses relying on connected tools.

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, so healthcare operators should look elsewhere. The Help Center and automated chatbot Mave are available around the clock; eligible customers can also reach support by email or live chat weekdays from 9 AM to 5 PM Eastern.

Pricing

Starter: Free. It includes unlimited estimates, invoices, bills, and bookkeeping records, making it a strong starting point for a new business with basic needs. Online payments are available, but cost 2.9% + $0.60 per credit card transaction and 3.4% + $0.60 per Amex transaction; frequent collections can make those fees material.

Pro: 19.00 USD per month, billed monthly. It includes Starter plus automatic bank transaction import, merging and categorization, unlimited receipt capture, expense tracking, and automated late-payment reminders, with discounted online-payment rates. Choose it when the bookkeeping automation or integration access justifies an ongoing monthly charge; invoice-only businesses may be better served by Starter.

Platforms

Wave offers web access, iOS and Android mobile apps, and an API. Mobile apps suit operators who need access away from a desk, while API-based third-party connections are subject to the paid-plan requirement.

Who it's for

Wave is best for small businesses and independent operators that want invoicing, payment collection, and accounting records tied together, especially those starting with a free plan and able to accept transaction fees. Pro fits businesses ready to automate bank and expense workflows. It is not a fit for healthcare-related businesses, or for users who need integrations or API connections without paying for Pro or Wave Advisors.

Pros and cons

Pro: Starter includes unlimited estimates, invoices, bills, and bookkeeping records, so basic usage is not constrained by a stated document quota.
Pro: Recurring billing, multiple customer payment methods, and accounting connections support an end-to-end invoicing workflow.
Con: Starter payment processing charges per transaction, including a fixed fee, which can weigh on frequent collections.
Con: Integrations, Make workflows, and third-party API connections require Pro or Wave Advisors, limiting free-plan flexibility.
Con: Wave is not HIPAA-compliant and excludes healthcare-related businesses.

Alternatives

For a different kind of software choice, CDM+ is a paid option with Android, iOS, MacOS, web, Windows, and API platforms; its Essentials plan is 25.00 USD per month for one program and one user, with a free trial.

Homebase is a freemium option with Android, iOS, and web access; its listed add-ons include task management at 13.00 USD per month and tip management at 25.00 USD per month.

Consider Payroll4Free if you need payroll software: its free basic services cover 9 or fewer employees paid monthly and are advertising-supported.

Rippling is a paid alternative with Android, iOS, and web access and custom plan pricing.

ADP Workforce Now is a paid payroll option with web, iOS, and Android access; its Essential Payroll plan includes processing, tax filing, direct deposit, employee access, and multi-jurisdiction payroll.

OnPay is a paid payroll option at 49.00 USD per month plus $6 per worker per month, with unlimited pay runs and schedules and year-end filings included.

Patriot Payroll is another paid payroll alternative; its Basic Payroll plan is 8.50 USD per month and includes unlimited payrolls, employee and contractor pay, and direct deposit.

Employment Hero is another paid alternative.

Verdict

Choose Wave if you want free, uncapped core invoicing linked to accounting and can accept transaction fees for online payments. Pro is worthwhile when bank and expense automation or integrations are central to the workflow; look elsewhere if healthcare compliance or free third-party connectivity is essential.

	Ledger	Wave
Free plan	Yes	Yes
Free trial	No
Paid from	Free	$15.83/mo
Platforms	Linux, macOS, Windows	Android, api, iOS, Web
Bank feeds	No
Automated reconciliation	Yes
Invoice creation	No
Receipt capture	No
Inventory tracking	No
Accountant access	No
Free plan		Yes
Paid from		$19/mo
Recurring invoices		Yes
Online payments		Yes
Expense tracking		Yes
Mobile apps		ios and android

Ledger vs Wave

Ledger

Wave