The invoice is slightly less user friendly than Wave’s, but not so much that it would make or break your decision to use FreshBooks. I clicked through to see my options, but ended up using the first one it showed me. Explore the cutting-edge B2B marketing automation software and discover the perfect solution to elevate your business strategy. Wave wins this round because it provides a native payroll solution, whereas FreshBooks relies on a third-party program to enable payroll. We’ll share our latest software reviews, technology tips, and deals. Once a project is done, you can generate an invoice directly from this screen, where all information will be pulled to the invoice and you can send it with just a couple clicks.
Both providers also have more HR tools than Wave, including new-hire reporting and basic onboarding features. Technically, both Wave Accounting and FreshBooks let you add unlimited users to your account. However, FreshBooks’ cheapest plan relies on the single-entry accounting system, which is less accurate than the more widely accepted double-entry system.
FreshBooks & Wave Feature Comparison
Both function as cloud-based software, meaning they can be accessed through a web browser on any device with internet connectivity. FreshBooks has a slight edge here as it offers phone support, unlike Wave, which only has chat and email. However, to accept electronic payments from your customers, you’ll need to enable Wave Payments. There’s no doubt that choosing the right accounting software can be a bit of a challenge. Danielle Bauter is a writer for the Accounting division of Fit Small Business. She has owned Check Yourself, a bookkeeping and payroll service that specializes in small business, for over twenty years.
- Additionally, the main page includes shortcut functions like the +New button to help you execute certain tasks easily, such as creating a new invoice and adding a new customer or bill.
- We evaluated pricing based on how each plan compares with similar software packages as well as how many users are included in each plan and the extra costs incurred per additional user.
- Although both platforms offer on-the-go invoicing, FreshBooks’ mobile app goes the extra mile by allowing you to log hours worked and track mileage.
- Users also praised its project tracking features and how easy it is to invoice clients if you use the project feature.
- If you are still using Wave plus a second tool to handle all your accounting, it might be time for an upgrade.
When reviewing a product, users are asked to assess the product’s overall quality, which includes assigning specific ratings for ease of use, value for money, customer support, and functionality. With plans starting at $15 a month, FreshBooks is well-suited for freelancers, solopreneurs, and small-business owners alike. You can reach FreshBooks customer service via phone, email, or chat between 8 a.m. Its team offers in-product help, a searchable knowledge base, and in-product messaging.
FreshBooks comes with time tracking in all plans and project profitability tools in the Premium plan and up. Its inventory feature updates stock count for particular items each time you add them to an invoice. If you want a totally free accounting software tailored to freelancers, solopreneurs and small-business owners alike, we recommend Wave.
- The company aims to be an all-in-one financial management solution for small businesses and has earned an “A” rating from the BBB.
- Create projects for each client and invite your team to collaborate.
- With FreshBooks both you and your team can collaborate on and track time towards the same projects and clients.
- Particularly if you do not have an in-house bookkeeper at your company, this is a great way to make sure everything is on track for your accountant to get documents ready for tax season.
- Navigating the small business accounting software offerings available today can feel like venturing into a maze – but don’t worry, you’re about to get a map.
Only ideal for very small service-based businesses, freelancers or contractors; allows an unlimited number of users. The safety of your private data is our top priority, that’s why it’s protected by 256-bit SSL encryption—the gold standard in internet security. FreshBooks is cloud-based accounting software and uses industry-leading secure servers.
FreshBooks vs Waveapps desktop versions
There must be hundreds, if not thousands, of options available on the market today. Two of those names are FreshBooks vs Wave that are equally popular and recommended by small business owners and accounting enthusiasts alike. On the other hand, you can’t trust Wave to help you with serious or immediate technical problems. There’s literally no one to talk to over the phone, and the only thing you can hold on top 24 entrepreneur organizations to is chat support, which is available for new users for 60 days after purchase. In addition to a chatbot, you can use the Wave Help Center, which includes some helpful resources that provide answers to your questions. If you’re a service-based business or an independent contractor who’s always out in the field, having the ability to record hours worked and assign them to your customers is very convenient.
Overall, Wave is one of the easiest tools to use to send invoices to many different individuals. While it can be difficult to get in touch with customer support, you likely won’t need to contact them too often. A winner of our 2021 Best Accounting Software Award, this robust cloud accounting app for small businesses makes billing easy and efficient.
Additionally, the main page includes shortcut functions like the +New button to help you execute certain tasks easily, such as creating a new invoice and adding a new customer or bill. The left menu bar contains all the core features of FreshBooks, including Banking, Sales, Cashflow, Expenses, Projects, and Payroll. The two programs can set up recurring invoices, but Wave doesn’t allow you to add late fees to your invoice.
It’s the better option if you’re a service-based business or independent contractor that’s often working out of the office. You’ll be able to record the hours worked and assign them to clients. FreshBooks and Wave are both web-based business accounting platforms, meaning you can access them via any web browser without installing any software.