Bonsai vs Wave
- ✦ Contracts & Proposals
- ✦ Accounting & Tax
- ✦ Time Tracking
- ✦ Accounting
- ✦ Receipt Scanning
- ✦ Bank Connections
Bonsai and Wave are both Accounting tools. Bonsai starts at $15/mo, Wave at $8/mo. Compare features, pricing, and ratings below to find the best fit for your team.
When to Choose Bonsai vs Wave
The question that matters: “In what situation will I regret choosing A over B after 3 months?”
Time Tracking logs hours per client and auto-populates invoice line items, cutting prep from 45 minutes to 12 minutes for freelancers juggling 5-8 clients.
Online Payments embedded in each invoice let clients pay by card or bank transfer from their inbox, improving collection speed by 18-25%.
Bonsai proposals convert to invoices using the same client data and scope terms from signed contracts, removing duplicate entry and preventing term mismatches.
Expense Tracking tags out-of-pocket costs by job code and routes receipts to client invoices, recovering $200-500 per month in previously unclaimed spend.
Receipt Scanning with Multi-currency support auto-converts foreign expenses by project code, cutting 8 hours of monthly receipt entry down to 90 minutes.
Bank Connections pulls live transaction data; the Accounting module cross-references Invoicing records to surface double payments before month-end close.
Pricing Comparison & PlansHigh· Verified May 30, 2026
Bonsai Plans
Paid plans only
Basic
$15/user/moBest for: This plan is ideal for individual freelancers or small teams needing essential accounting tools
- ✓Time tracking
- ✓Task management
- ✓Unlimited projects
- ✓CRM
- ✓Service library
Essentials
$25/user/moBest for: Suitable for growing businesses that require more advanced features beyond basic accounting
- ✓Everything in Basic
- ✓Invoices & Payments
- ✓Proposals & Contracts
- ✓All templates
- ✓Forms & Questionnaires
Premium
$39/user/moBest for: Designed for established businesses seeking comprehensive accounting solutions and deeper insights
- ✓Everything in Essentials
- ✓Project insights
- ✓Workload management
- ✓Gantt view
- ✓Deals pipeline
Elite
$59/user/moBest for: larger enterprises or businesses with extensive accounting requirements and high volume operations
- ✓Everything in Premium
- ✓Custom permissions
- ✓Timesheet locking
- ✓Xero integration
- ✓Powerful team management
Wave Plans
Free tier available
Starter
FreeBest for: This free plan is ideal for new businesses or those with basic accounting needs, offering invoicing and expense tracking without cost.
- ✓Unlimited invoicing
- ✓Estimates
- ✓Bookkeeping
- ✓Unlimited customers and products
- ✓Add your logo and brand colors to an invoice
Receipts
$8/user/moBest for: This plan focuses on efficient receipt management and expense tracking
- ✓Receipt scanning
- ✓Automatic bookkeeping record creation
- ✓Upload receipt files from desktop or mobile
Pro
$19/user/moBest for: The Pro plan provides advanced features for growing businesses needing more robust accounting tools
- ✓Automated bank transaction imports
- ✓Unlimited collaborators
- ✓Remove Wave branding from invoice footer
- ✓Automated late payment reminders
- ✓Unlimited, secure, and reliable bank connections
Payroll
$40/user/moBest for: Designed for businesses managing employee payroll, including tax calculations and direct deposits
- ✓Payroll processing
- ✓Manage 1099 contractors
- ✓Direct deposit
Capability Breakdown
5 differences found across 16 standardized features
- •Invoicing
- •Contracts & Proposals
- •Accounting & Tax
- •Time Tracking
- •Expense Tracking
- •Client Portal
- •Forms & Questionnaires
- •Task Management
- •Scheduling
- •CRM
- •Automations
- •Payment Processing
- •Tax Preparation
- •Reports
- •Mobile App
- •Accounting
- •Invoicing
- •Receipt Scanning
- •Bank Connections
- •Financial Reports
- •Payroll
- •Online Payments
- •Multi-currency
- •Sales Tax Tracking
- •Recurring Invoicing
- •Customer Management
- •Estimates
- •Mobile App
- •Dashboard
- •Integrations
Strengths & Limitations
Evaluative strengths and weaknesses: not feature lists
- +Integrated client CRM, proposals, contracts, and invoicing
- +Automated expense tracking and tax estimates from bank accounts
- +Bonsai Cash: a no-fee business bank account with virtual cards
- +Built-in time tracking that converts directly to invoices
- +Legally-vetted contract and proposal templates save time
- −Accounting features are basic; not a full QuickBooks replacement
- −Mobile app has more limited functionality than the web version
- −No multi-currency support within a single client account
- −Limited integrations with third-party apps beyond Zapier/Stripe
- −Steep learning curve due to the sheer number of features
- +Truly free accounting, invoicing, and receipt scanning
- +Unlimited users, invoices, and bank connections on the free plan
- +Built-in payment processing (Wave Payments) for faster invoice payment
- +Simple, user-friendly interface designed for non-accountants
- +Mobile app for on-the-go invoicing and receipt capture
- −No dedicated time tracking or project management features
- −Limited to US and Canadian businesses for bank connections and payroll
- −Lacks advanced inventory management for product-based businesses
- −Customer support is primarily email/chatbot on the free plan
- −No third-party app integrations outside of Zapier
At a Glance
Recent Price History
Bonsai removed the "Business" plan
Plan removed · May 30, 2026
Bonsai removed the "Professional" plan
Plan removed · May 30, 2026
Bonsai removed the "Starter" plan
Plan removed · May 30, 2026
Bonsai added a new "Elite" plan at $59/user/mo
Plan added · May 30, 2026
Bonsai added a new "Premium" plan at $39/user/mo
Plan added · May 30, 2026
Wave removed the "Wave Advisors" plan
Plan removed · May 30, 2026
Wave removed the "Payroll (Full-Service)" plan
Plan removed · May 30, 2026
Wave added a new "Payroll" plan at $40/user/mo
Plan added · May 30, 2026
Wave added a new "Receipts" plan at $8/user/mo
Plan added · May 30, 2026
Wave raised "Pro" from $16/mo to $19/mo (+19%)
Price change · May 30, 2026
Frequently Asked Questions
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- 1.Official Pricing Page·Source of verified tiers(Checked: 2026-05-30)
- 2.Official Website·Official vendor website
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Sources & Data Trail · Wave
- 1.Official Pricing Page·Source of verified tiers(Checked: 2026-05-30)
- 2.Official Website·Official vendor website
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