Wave is the rare accounting tool with a genuinely free plan — no trial clock, no feature time-bomb. But “free accounting” doesn’t mean free to get paid. Here’s exactly what Wave costs in 2026 and where the real charges show up.
Wave Pricing in 2026
| Plan | Cost | Best for |
|---|---|---|
| Starter | Free | Freelancers, side hustles |
| Pro | $16/mo (annual) / $19 monthly | Growing solopreneurs |
| Wave Advisors | $199/mo | Hands-off bookkeeping |
The free Starter plan is the real draw — and unlike most “free” tiers, it includes the core accounting features most freelancers ever need.
What Each Plan Actually Gets You
- Starter (Free) — Unlimited invoices, unlimited expense tracking, receipt scanning, and basic double-entry accounting and reports. The catch: you manually import or enter bank transactions, and support is limited.
- Pro ($16/mo annual, $19 monthly) — Adds automatic bank transaction imports, unlimited receipt scanning, the ability to add a second user, and removes the per-invoice payment surcharge. The automation alone saves hours each month.
- Wave Advisors ($199/mo) — Done-for-you bookkeeping with a real human reconciling your books and answering questions. For owners who never want to touch accounting.
The Hidden Costs (Where Wave Makes Its Money)
Wave’s software is free because it earns on payments and payroll:
- Card processing — ~2.9% + $0.60 per transaction (3.4% + $0.60 for Amex). On the free plan, this is slightly higher per invoice.
- Bank payments (ACH) — 1% per transaction, $1 minimum.
- Payroll — Starts at $25/mo base for Pro subscribers ($40/mo for Starter) plus $6 per employee.
- Mobile receipt OCR — full automation lives on Pro, not free.
So Wave is “free to run your books,” not “free to collect money.” If you invoice clients who pay by card, processing fees are your true cost.
How Wave Compares on Price
| Tool | Entry plan | Paid tier | Best for |
|---|---|---|---|
| Wave | Free | $16/mo | Budget solopreneurs |
| FreshBooks | $19/mo | $38/mo | Invoicing polish |
| Xero | $25/mo | $55/mo | Teams, unlimited users |
| QuickBooks Online | $38/mo | $115/mo | Full accounting + inventory |
Nothing beats Wave on price for a solo business. The trade-off is depth: no inventory, limited integrations, and lighter support than QuickBooks or Xero. For a freelancer who just needs to invoice and track expenses, that trade-off is usually worth it.
Is Wave Worth It?
It’s worth it if:
- You’re a freelancer or micro-business who needs invoicing + basic books for $0
- You want to avoid monthly fees and pay only when you process payments
- Your accounting needs are simple — income, expenses, and clean reports
- You’re testing a new business and don’t want software overhead
Look elsewhere if:
- You have a team — Wave isn’t built for multi-user collaboration; Xero includes unlimited users
- You need inventory or advanced reporting — QuickBooks goes deeper
- You want polished, branded invoicing with retainers — FreshBooks does it better
Tips to Lower Your Wave Cost
- Stay on Starter if you’re comfortable importing transactions manually — it’s genuinely free.
- Encourage ACH over card — 1% (capped lower) beats 2.9% + $0.60 on larger invoices.
- Upgrade to Pro only for the automation — auto bank imports are the main reason to pay $16.
- Skip Wave Payroll for one or two employees if a cheaper standalone provider fits.
The Bottom Line
Wave in 2026 is the best free accounting tool for solopreneurs, full stop. The Starter plan covers invoicing, expenses, and reports without a monthly fee — you only pay when customers pay you by card. Upgrade to Pro ($16) when manual bank imports start eating your time. If you grow into a team or need inventory, you’ll eventually graduate to Xero or QuickBooks — but Wave is the perfect place to start.
Compare accounting tools side by side →
Frequently Asked Questions
Is Wave accounting really free?
Yes. Wave’s Starter plan is free with no time limit, including unlimited invoicing, expense tracking, and basic accounting. Wave makes money on payment processing (~2.9% + $0.60) and payroll, not the software itself.
How much is Wave Pro?
Wave Pro costs $16/month billed annually (or $19 monthly). It adds automatic bank imports, unlimited receipt scanning, and a second user.
What does Wave charge to accept payments?
Card payments cost about 2.9% + $0.60 per transaction (3.4% + $0.60 for Amex), and ACH bank payments cost 1% with a $1 minimum.