See how Wave's free accounting and invoicing software works, what Pro and Payroll cost, and whether it fits your small business bookkeeping needs.
Wave is accounting and invoicing software designed for freelancers, sole proprietors, and small businesses that need to manage bookkeeping without the cost or complexity of larger enterprise accounting platforms. Founded in Toronto in 2009 and launched publicly in 2010, Wave built its early reputation on offering core accounting and invoicing tools for free, monetizing instead through optional payment processing and payroll services.
In 2019, tax preparation giant H&R Block acquired Wave for roughly 405 million US dollars, and Wave has continued to operate as part of H&R Block since then, retaining its own brand, product, and Toronto base while gaining access to H&R Block's resources and tax expertise.
Today Wave serves hundreds of thousands of small businesses with a product suite spanning accounting, invoicing, receipt scanning, online payments, and payroll, aimed squarely at very small businesses and solo operators rather than mid-market or enterprise companies.
Wave's core accounting engine supports double-entry bookkeeping, a chart of accounts, and financial reports like profit and loss, balance sheet, and cash flow statements, suitable for tracking a small business's full financial picture.
Unlimited invoicing and estimates let users create and send professional invoices, set up recurring billing, and accept online payments directly from an invoice when Wave Payments is enabled.
Receipt scanning, available as a paid add-on on the free plan and included in Pro, lets users photograph or upload receipts and have expense data extracted automatically.
Wave Payroll, sold as a separate add-on, handles employee and contractor payments, automatic payroll tax calculations, and tax filings in supported regions.
Bank connections on the Pro plan automatically import and categorize transactions from linked bank and credit card accounts, reducing manual data entry compared to the free Starter plan.
Wave's Starter plan is free and covers manual bookkeeping, unlimited invoicing, and expense tracking, though it requires manual bank statement imports rather than automatic bank feeds and does not include receipt scanning without a paid add-on.
The Pro plan costs around 19 US dollars per month (about 25 Canadian dollars) and adds automatic bank transaction imports, built-in receipt scanning, multiple user roles, and removes Wave branding from invoices and other customer-facing documents.
Wave Payroll is priced separately from the accounting plans, with a base monthly fee plus a per-employee or per-contractor charge, and Wave also offers optional professional bookkeeping services with human bookkeepers at a higher monthly price point for businesses that want ongoing hands-on support.
Yes, the Starter plan is free and includes double-entry bookkeeping, unlimited invoicing, and expense tracking, though it lacks automatic bank feeds and built-in receipt scanning.
Wave Pro costs around 19 US dollars per month (about 25 Canadian dollars), adding automatic bank imports, receipt scanning, and removal of Wave branding.
Yes, Wave Payroll is a separate add-on with a base monthly fee plus a per-employee or per-contractor charge, available in supported US states and Canadian provinces.
Wave has been owned by H&R Block since 2019, when H&R Block acquired the company for approximately 405 million US dollars.
Wave is best suited for freelancers, sole proprietors, and very small businesses that need straightforward accounting and invoicing without enterprise-level complexity.
Yes, Wave Payments lets customers pay invoices online by card or bank transfer directly from the invoice.
Wave is headquartered in Toronto, Ontario, Canada.