FreshBooks and Wave both make invoicing easy for freelancers and small service businesses. Wave costs less to start. FreshBooks gives you more tools for client work, such as time tracking, proposals and retainers. Here is how to choose.
The short verdict
- Pick Wave if you are in the US or Canada, your needs are simple, and you want to pay little or nothing each month.
- Pick FreshBooks if you bill clients for time or projects, send proposals, take retainers, or are outside the US and Canada.
Who can use each one
Wave is only for businesses in the United States and Canada, and not in US territories. The FreshBooks prices below come from its US page. If you are elsewhere, check FreshBooks' site for your country.
Prices and plans
As of October 2026. Both run discounts for new customers, and prices change often.
- Starter: free. Unlimited estimates, invoices, bills and bookkeeping records.
- Pro: 19 US dollars a month, or 190 dollars a year. Adds automatic bank import, unlimited receipt capture and automatic late payment reminders.
FreshBooks (US prices)
- Lite: 23 dollars a month, up to 5 billable clients.
- Plus: 43 dollars a month, up to 50 billable clients, adds proposals, retainers, bank reconciliation and accountant access.
- Premium: 70 dollars a month, unlimited clients, adds project profitability.
- Select: custom price.
- Extra team members: 11 dollars a month each.
The differences that matter
Cost and limits
Wave Starter has no monthly fee and no client limit. FreshBooks Lite costs 23 dollars and stops at 5 billable clients. If you have 12 small clients, compare Wave with FreshBooks Plus at 43 dollars.
Client work
FreshBooks includes unlimited time tracking, estimates, deposits and recurring invoices on every plan. Proposals, e-signatures and retainers come with Plus. If you quote a project, track hours against it and bill as you go, FreshBooks keeps that in one place. Wave covers estimates, invoices and deposits through estimates, but its pricing page does not list time tracking.
Getting paid online
As of October 2026:
- Wave, Starter: 2.9% plus 60 cents per card payment (Amex 3.4% plus 60 cents).
- Wave, Pro: the first 10 card payments each month without the 60 cents, then the Starter rate.
- Wave bank payments: 1% per transaction, 1 dollar minimum.
- FreshBooks: 2.9% plus 30 cents per card payment, and 1% for bank transfers (ACH).
Sources: Wave payments and the FreshBooks pricing page. Do the sum on a normal month. With many small card payments, the fixed part per payment adds up.
Bookkeeping
Wave Starter keeps full bookkeeping records, with automatic bank import on Pro. FreshBooks Lite imports bank transactions automatically, but bank reconciliation, double-entry reports and accountant access start on Plus. If your accountant wants to log in, budget for Plus.
Payroll
Both sell payroll at extra cost, as of October 2026. Wave payroll is 40 US dollars a month plus 6 dollars per active employee and 6 dollars per contractor paid in the US. In Canada it is 25 Canadian dollars a month plus the same per-person fees, outside Quebec. FreshBooks Payroll, on its US pricing page, is 40 dollars a month plus 6 dollars per person.
How to decide
- Check your country. Wave only works in the US and Canada.
- Count your billable clients this year.
- Decide if you need time tracking, proposals or retainers.
- Work out a month of payment fees in each tool.
- Ask whether your accountant needs to log in.
The tool sends the invoice, and the invoice still has to be clear. See how to write an invoice, and keep a set of overdue invoice reminder emails ready, whichever tool you use. For a wider look, see the best invoicing software for freelancers.