Accounting SoftwareUpdated February 2026

Wave vs FreshBooks

Wave is free; FreshBooks costs $17-60/month. The question is whether FreshBooks' premium features are worth the cost for your specific freelancing business. Here is our honest breakdown.

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Wave

Free accounting software for freelancers

Starting at

Free

4.0

out of 5

View details →

FreshBooks

Professional invoicing and accounting

Starting at

$17/mo

4.1

out of 5

View details →

Feature-by-Feature Comparison

Criteria

Wave

FreshBooks

Price

5.0

Completely free for core features. Payments and payroll cost extra.

3.5

Starts at $17/mo. Premium plans reach $55/mo.

Invoicing

4.0

Solid free invoicing. No retainers or proposals.

4.7

Industry-leading invoicing with full client management.

Accounting Features

4.2

Surprisingly capable for free software. Double-entry accounting.

4.3

Full accounting suite with more reports and automations.

Customer Support

3.2

Limited support on free plan. Email only.

4.4

Phone and live chat support. Very responsive.

Tax Prep

3.5

No built-in tax filing. Reports are exportable.

3.5

No built-in tax filing. Better reports but requires integration.

Verdict: It Depends

The winner depends entirely on your budget and needs. Wave wins on value — it is free and surprisingly capable. FreshBooks wins on features, support, and polish. Freelancers just starting out should use Wave; established freelancers who invoice regularly will find FreshBooks worth the cost.

Choose Wave if...

✓Freelancers starting out or on a tight budget
✓Simple financial situations with few clients
✓Anyone who wants to avoid monthly software costs
✓Freelancers who handle taxes via separate software

Choose FreshBooks if...

✓Established freelancers with $50k+ annual revenue
✓Businesses that rely heavily on client invoicing
✓Freelancers who need premium customer support
✓Service businesses with multiple ongoing client relationships

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Tax Information Notice

This content is for informational and educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified CPA or Enrolled Agent for your specific situation.