Wave vs Xero
Wave
XeroWe may earn a commission from links on this page, at no extra cost to you. It never changes our picks. How we make money.
Quick verdict
Xero edges it overall, winning 2 of 4 rating categories. Wave is cheaper to start ($19 vs $27).
You’re freelancers and micro-businesses on the tightest budget. Free invoicing and accounting for very small businesses, with a low-cost Pro plan that adds automatic bank imports, receipt scanning and recurring invoices.
Visit WaveYou’re small businesses that want unlimited users and clean, modern accounting. Cloud accounting with unlimited users on every plan, clean bank reconciliation and 1,000+ integrations: a popular QuickBooks alternative, especially for growing teams.
Visit XeroSide by side
| Wave | Xero | |
|---|---|---|
| Our rating | 4.3/5 | 4.4/5 |
| Value | 4.8/5 | 4.3/5 |
| Features | 3.8/5 | 4.5/5 |
| Ease of use | 4.6/5 | 4.4/5 |
| Output quality | 4/5 | 4.4/5 |
| Category | Accounting & invoicing | Accounting & invoicing |
| Free plan | Yes: invoicing and accounting are free | No: intro discount for new customers |
| Cheapest paid plan (monthly) | $19/mo | $27/mo |
| Same plan billed yearly | $15.83/mo | - |
| Top plan | Pro: $19/mo | Established: $97/mo |
| Seats | Pro includes unlimited users | Unlimited users on all plans |
| Trial / refund | Free Starter plan | Intro discount (often 80% off for 3 months) |
| Platforms | Web, iOS, Android | Web, iOS, Android |
| Best for | Freelancers and micro-businesses on the tightest budget | Small businesses that want unlimited users and clean, modern accounting |
Wave: pros & cons
- Free plan covers invoicing and bookkeeping
- Pro is just $19/mo ($190/yr)
- Unlimited users on Pro
- Payment processing fees on card payments
- Fewer integrations and less depth than QuickBooks or Xero
Xero: pros & cons
- Unlimited users on every plan
- Cheaper than QuickBooks at similar tiers
- Excellent bank reconciliation
- Early plan caps invoices at 20 a month
- US payroll handled via Gusto integration
Questions from readers
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