Xero vs Wave
A side-by-side look at what Xero and Wave publish about pricing, plans and features.
This page sets the two products' recorded data side by side. It is not an editorial review — nobody has tested either product for this page, and the figures below are not independently verified. Read how we handle data and what each label means.
| Field | Xero | Wave |
|---|---|---|
| Category | Accounting | Accounting |
| Entry price | $15/mo | Free plan only |
| Free plan | No | Yes |
| Free trial | 30-day trial | No |
| Tagged for | Small Teams | Freelancers |
| G2 rating unverified | 4.3 / 5 | 4.3 / 5 |
| Capterra rating unverified | 4.4 / 5 | 4.4 / 5 |
Where they differ
- Wave lists a free plan; Xero does not, though it lists a 30-day trial.
- Wave does not publish an entry price; pricing is quote-based.
- Xero lists a free trial; Wave does not.
Head to head
Xero
Xero approaches accounting with software-company sensibilities: clean design, unlimited users on every plan, and daily bank feeds that make reconciliation almost enjoyable. Strong in the UK, Australia and New Zealand, it is the natural QuickBooks alternative for teams that value collaboration — bookkeeper, founder and advisor all in the file at once. US payroll requires a Gusto integration, and phone support is deliberately absent.
Beautiful cloud accounting for small business.
What we record about Xero →Reported strengths
- Clean UI
- Unlimited users
- Strong integrations
Reported drawbacks
- Payroll limited by region
- Phone support sparse
Wave
Wave's core promise is radical for the category: real double-entry accounting and unlimited invoicing for exactly zero dollars, funded by payment processing and payroll fees. For freelancers and side businesses with simple books, it covers surprisingly much. The boundaries are clear — US/Canada only, basic reporting, no inventory, and support prioritizes paying users — but as a starting point it is unbeatable on price.
Free accounting and invoicing for the self-employed.
What we record about Wave →Reported strengths
- Free core features
- Simple
- Good for freelancers
Reported drawbacks
- Paid payments/payroll
- Limited scaling