QuickBooks Online vs Wave Accounting: Worth the Switch?

Last Updated on December 5, 2025

When choosing accounting software, small business owners often weigh QuickBooks Online’s powerful, feature-rich platform against Wave Accounting’s free yet functional offering.

The wrong choice can lead to wasted money, missed financial insights, or limited growth opportunities.

In this guide, we’ll break down QuickBooks Online vs Wave Accounting to help you decide if switching is the right move.

By the end, you’ll know:

• How their pricing and features compare.

• Which software is better for small businesses, freelancers, or scaling companies.

• The clear winner depending on your budget and business needs.

Whether you’re considering upgrading from Wave or looking for a cost-effective alternative to QuickBooks Online, this comparison gives you the facts to make a confident decision.

1. Comparison Table: QuickBooks Online vs Wave Accounting

Feature	QuickBooks Online	Wave
Ease of Use	User-friendly but slightly more complex due to advanced features	Very simple and intuitive; ideal for beginners and freelancers
Core Features	Invoicing, expenses, payroll, multi-currency, advanced reporting, inventory	Invoicing, expense tracking, basic reporting, bank connections; payroll paid add-on in some regions
Integrations	750+ third-party apps including Shopify, Salesforce, HubSpot	Limited integrations, mainly Stripe, PayPal, Shoeboxed
Automation	Advanced automation for categorization, recurring tasks, and workflows	Basic automation for recurring invoices and reminders
Pricing	~$30–$200/month depending on plan	Free for core accounting features; payroll and payment processing are paid add-ons
Support	24/7 phone, chat, knowledge base, large accountant community	Email support, knowledge base; no 24/7 phone support
Best For	Small to mid-sized businesses needing scalability and advanced features	Freelancers, solopreneurs, or very small businesses looking for free accounting software

Takeaway:

• Wave Accounting is ideal for freelancers or very small businesses looking for free, simple accounting.

• QuickBooks Online is better for businesses that need advanced features, robust reporting, and scalability.

2. Company Background & Market Fit

Wave Accounting

Wave Accounting is a free cloud-based accounting software designed primarily for freelancers, solopreneurs, and very small businesses.

Since its launch in 2009, Wave has focused on providing core accounting functions at no cost, including invoicing, expense tracking, and basic reporting.

Its simplicity and affordability make it an attractive choice for micro-businesses and startups who want to manage finances without paying for a subscription.

However, its limited advanced features and integrations mean it may not scale well as businesses grow.

Best Fit: Freelancers, solopreneurs, and small businesses looking for cost-effective, basic accounting software.

QuickBooks Online

QuickBooks Online, developed by Intuit, is a premium cloud accounting solution widely adopted by small and mid-sized businesses worldwide.

With features like advanced reporting, payroll, multi-currency support, and extensive integrations, QuickBooks Online is built for businesses expecting growth and needing a scalable solution.

Its reliability, extensive ecosystem, and large accountant community make it a trusted choice for business owners and financial professionals alike.

Best Fit: Small to mid-sized businesses seeking robust accounting software with advanced features and scalability.

3. Ease of Use & User Experience

Wave Accounting

Wave Accounting is designed for simplicity and ease of use.

Its interface is clean and intuitive, allowing users to create invoices, track expenses, and reconcile bank accounts quickly.

Freelancers and small business owners can get started almost immediately with minimal onboarding.

The mobile app (Android and iOS) mirrors the desktop experience, letting users send invoices, capture receipts, and track expenses on the go, making it highly convenient for independent professionals.

QuickBooks Online

QuickBooks Online offers a feature-rich interface, which can feel slightly more complex for beginners.

However, its well-organized dashboard provides quick access to invoices, expenses, banking, payroll, and reports.

QuickBooks Online also provides tutorials, webinars, and a comprehensive knowledge base, helping users learn the system efficiently.

The mobile app (Android and iOS) is robust, allowing full accounting functionality while on the move.

Takeaway:

• Wave is extremely user-friendly and simple, perfect for freelancers and small businesses with minimal accounting needs.

• QuickBooks Online offers more features and flexibility but comes with a steeper learning curve, better suited for businesses that need depth and scalability.

4. Core Features

Wave Accounting

Wave focuses on simplicity and ease of use, ideal for freelancers and very small businesses:

• Invoicing & Billing: Professional invoice templates, recurring invoices, and automatic payment reminders — quick, easy billing without complexity.

• Expense Tracking & Bank Feeds: Track expenses, connect bank feeds, and upload receipts with minimal effort.

• Payroll & Taxes: Payroll available as a paid add-on in select regions; tax handling may require manual work.

• Reporting & Analytics: Basic reports including profit & loss, balance sheet, and cash flow — sufficient for freelancers or very small teams.

QuickBooks Online

QuickBooks Online delivers robust accounting features designed for growing businesses:

• Invoicing & Billing: Advanced invoicing with recurring invoices, automated reminders, multi-currency support, and payment gateway integrations.

• Expense Tracking & Bank Feeds: Smart expense tracking, automatic categorization, and bank rules to reduce errors and save time.

• Payroll & Taxes: Integrated payroll with automated tax calculations, filing, and compliance — ideal for growing teams.

• Reporting & Analytics: Advanced, customizable reports and dashboards with forecasting and accountant-friendly tools.

Takeaway:

• Wave is perfect for freelancers and very small businesses who want simple, intuitive accounting.

• QuickBooks Online is suited for growing businesses that need automation, advanced reporting, and full payroll support.

5. Pricing & Value

Wave Accounting

Wave is known for being free and straightforward, making it ideal for freelancers and very small businesses:

• Core Accounting & Invoicing Free: Unlimited invoicing, expense tracking, and basic reporting.

• Payroll Paid Add-on: Costs vary by region; tax handling may require extra fees.

• Free Trial: Core features are fully free to use with no trial restrictions.

Wave’s pricing is completely accessible, offering essential accounting tools without any subscription fees, perfect for budget-conscious users.

QuickBooks Online

QuickBooks Online uses tiered subscription plans that scale with business size and complexity:

• Simple Start $30/month: Basic bookkeeping, invoicing, and expense tracking.

• Essentials $60/month: Adds bill management and up to three users.

• Plus $90/month: Includes inventory, project tracking, and up to five users.

• Advanced $200/month: Custom reporting, dashboards, and priority support.

• Free Trial: 30 days to explore all features.

QuickBooks pricing reflects its advanced automation, payroll integration, and scalable features, providing strong value for growing businesses.

Takeaway:

• Wave provides free, simple accounting perfect for freelancers and very small teams.

• QuickBooks Online offers robust, scalable tools and automation suited for businesses that need more advanced features and payroll support.

6. Integrations & Add-Ons

Wave Accounting

Wave supports limited integrations, primarily with payment processors like Stripe and PayPal, and basic bookkeeping add-ons.

While it covers essential needs, its ecosystem is not designed for scalability or complex workflows.

QuickBooks Online

QuickBooks Online supports over 750 third-party apps, including CRM, e-commerce, payroll, and project management tools.

Its add-ons enable automation, advanced reporting, and seamless workflow integration.

This makes QuickBooks ideal for businesses expecting growth and complex operations.

Examples are Shopify, Salesforce, HubSpot, Gusto, TSheets

Takeaway:

• QuickBooks Online offers extensive integrations and add-ons, connecting with hundreds of apps for automation and workflow efficiency, ideal for growing businesses.
• Wave provides basic integrations, keeping it simple and easy to manage for freelancers and very small teams.

7. Customer Support & Reliability

Wave Accounting

Wave offers email support and a knowledge base to help users troubleshoot issues.

While helpful for freelancers and small teams, it lacks 24/7 support or phone assistance.

Documentation, tutorials, and community forums partially fill the gap, but more complex issues may take longer to resolve.

QuickBooks Online

QuickBooks Online provides 24/7 phone and chat support, a comprehensive knowledge base, and a large accountant and user community.

Backed by Intuit’s reputation, QuickBooks Online is highly reliable with consistent uptime and regular updates.

Takeaway:

• QuickBooks Online provides 24/7 support and a comprehensive knowledge base, making it reliable for growing businesses.
• Wave offers email and chat support with limited availability, which is suitable for freelancers and very small teams who need occasional guidance.

8. Pros & Cons

Wave Accounting

• Completely free core accounting features

• Extremely simple and beginner-friendly

• Quick setup for freelancers and small businesses

• Basic automation for recurring invoices and reminders

• Limited integrations and add-ons

• Payroll and payment processing require paid add-ons

• Basic reporting; not ideal for scaling businesses

• No 24/7 phone support

QuickBooks Online

• Advanced reporting and analytics

• 750+ integrations and add-ons for flexible workflows

• Scalable for growing small to mid-sized businesses

• Payroll, multi-currency, and inventory support

• 24/7 support and large accountant community

• Higher pricing compared to Wave

• Slightly steeper learning curve for beginners

• Can feel complex for freelancers or micro-businesses

9. Verdict: Which One Should You Choose?

Both QuickBooks Online and Wave Accounting serve distinct audiences, so your choice depends on your business size, growth plans, and feature needs:

Choose Wave Accounting if: You’re a freelancer, solopreneur, or very small business seeking free, simple accounting software with essential features.

Wave is perfect for businesses that don’t require advanced reporting, payroll, or hundreds of integrations.

Choose QuickBooks Online if: You’re running a small to mid-sized business that needs scalability, advanced reporting, payroll, multi-currency support, and extensive integrations.

Its robust features and support make it ideal for long-term business growth.

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