Wave Review

Budget the feed, not the sticker. A founder who stays on Starter still types every bank line, and that typing is the real cost of the free plan.

Toolradar data: the September 2026 accounting ranking in the directory we run covers 247 tools.

Wave sits in that directory next to Xero, the comparison when several people post and you want reconciliation without a per-login fee.

The Xero review follows that user-fee question, and the free accounting roundup is the cut when the subscription must stay at zero.

The FreshBooks review is where to look when client time needs a paid ledger.

Methodology: on 24 September 2026 the USD pricing pages for Wave, Zoho Books, FreshBooks, and Xero were read in full.

QuickBooks was left on Intuit's own plan page so the sticker is checked at signup.

Placement was not sold, and the cross-brand write-up for a general audience is Toolradar's Xero vs Wave page.

Wave is cloud software for invoicing, bookkeeping, card and bank payments, and payroll, sold by Wave Financial. Backed by H&R Block, the Canadian company says it has helped more than 5.9 million small business owners in the US and Canada since 2010.

That scale is why a Block Advisors tax pro can join a small file without a paid seat.

Starter is the free ledger, with unlimited estimates, invoices, bills, and bookkeeping records, so a freelancer can bill and keep books before paying.

Wave uses double-entry, and the reports include a profit and loss, a balance sheet, and a cash flow statement.

That is a different product from an invoice tool that withholds the ledger until a higher plan.

Pro adds automatic bank import through Plaid, automatic merge and categorization, unlimited receipt capture, and late-payment reminders.

Buy it when typing the statement costs more than the subscription.

Payments and payroll are optional add-ons on either plan, so a free file can still generate card fees or a payroll base.

A payroll manager or a Block Advisors tax pro can join on Starter, but admin, editor, and viewer require Pro.

A bookkeeper who only needs to view the file still lands on the paid plan.

You open Starter with no card, and there is no separate test month of Pro. The bank feed is a purchase rather than a sample.

Cancellation takes effect at the end of the billing period you already paid.

An annual subscriber who stops in month two keeps the plan until that year ends.

Month-end is where Starter stops, because automatic import, merge, and categorization are Pro features.

Wave cannot guarantee a Plaid connection, since not every bank is supported.

You can pay for the feed and still type the statement if your bank is missing.

Connections are read-only and cannot move money out of the account.

Getting paid needs identity verification and a credit review on either plan, so approval can block collections even on a free file. After approval, card payouts are quoted at 1 to 2 business days and bank payments at 1 to 7.

That wait sits on top of the rate in the table.

Payroll is a second product in the same login, and the software fee does not cover wages. The first run can stay commitment-free for up to 30 days, and billing starts when you activate.

US tax payments and filings cover all 50 states on the current rate.

Vendor bills that need approval workflows are covered in the BILL review, because Wave is the ledger and not a payables desk.

If the preparer will close only in QuickBooks, read the QuickBooks Online pricing note for the sticker.

A September 2026 signup should budget list price, not the teaser still printed on the monthly card.

The promo footnote runs from 2 December 2025 through 6 January 2026, and after that window the account bills at the listed monthly price.

Three businesses on Pro are three subscriptions at the monthly rate, because the fee is per business, and our multiplication of that example is $57 before tax.

The USD annual toggle is labeled Save $38 versus paying monthly, which matches twelve times the monthly rate minus the yearly price.

You collect that saving only if the company stays for the year already paid.

Receipt capture costs extra on Starter in the US and is included on Pro, so the feed upgrade covers scanning.

Advisors bookkeeping includes Pro, leaves receipts out, and values that included subscription at $16/mo, under the monthly list.

Do not add a separate Pro bill, and do not expect scanning inside that package.

Bookkeeping support is advertised from $149/mo billed annually, the fee moves with transaction volume, and monthly plans are offered too.

The terms, effective 4 March 2024, price fewer than 50 US transactions at $179/mo.

A quiet file should budget those terms, and a 12-month prepay takes $30 off the 10 to 299 band.

Coaching starts at $229 once and excludes Pro and receipt scanning.

US payroll after 2 April 2025 is the table base plus the per-person fee for each active employee and each contractor paid.

Two employees and one contractor are three fees on that base, which comes to $58 before the ledger.

The first payroll can run 30 days before you activate billing, and Xero payroll is a separate Gusto invoice.

Pro drops the fixed card fee for the first ten charges in the month, then that fee returns.

Bank payments are 1% with a $1 minimum and sit outside that waiver, so ACH never gets the card break.

See the B2B payment guide when the job is paying vendors rather than collecting invoices.

Xero Early already reconciles, caps invoices at 20 and bills at 5, and charges no per-user license.

US list prices rise on 1 October 2026 to $27, $59, and $97 a month, and the 90% intro for new US organizations ends 30 September 2026.

The paid-ledger comparison is the QuickBooks vs Xero note.

Wave fits a US owner with one simple entity who will type the statement or pay for the feed. A freelancer who invoices and does not need inventory can stay on Starter until the feed is worth the monthly rate.

Skip Starter when an accountant will not sign a close without the bank feed, because the free file fails that review.

Skip Pro when several companies were supposed to share one subscription, because each business is billed alone.

Skip Wave when you need inventory, classes, or job margin, which Wave does not offer.

Leave when the preparer will close only in QuickBooks, and take figures from the QuickBooks pricing note before you move.

Use the AI bookkeeping guide for categorization and the AI accounting guide for a wider shortlist.

The AI invoicing guide covers billing without the books. Subscribe free if the next rate change should reach you before a renewal.