QuickBooks Online vs Wave
- ✦ Expense Tracking
- ✦ Tax Categories
- ✦ Payroll (add-on)
- ✦ Accounting
- ✦ Receipt Scanning
- ✦ Payroll
QuickBooks Online wins for scaling small businesses needing robust inventory tracking starting at $35/mo. Wave wins for freelance sole proprietors seeking free entry-level accounting or payroll starting at $16/mo.
When to Choose QuickBooks Online vs Wave
The question that matters: “In what situation will I regret choosing A over B after 3 months?”
QuickBooks Time Tracking links to Invoicing, so logged hours appear as invoice line items at contracted rates - no manual data entry and fewer unbilled hours.
Online Payments embedded in each invoice let clients pay by card or bank transfer from their inbox, improving collection speed by 18-25%.
Cross-referencing Bank Connections with Expense Tracking records surfaces duplicate or unauthorized payments within minutes of clearing.
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
QuickBooks Online Plans
Paid plans only
QuickBooks Free
FreeBest for: Ideal for individuals needing basic income and expense tracking without advanced features
- ✓Track income
- ✓Track expenses
- ✓Zero financial commitment
Solopreneur
$20/moBest for: Perfect for freelancers and independent contractors managing basic income and expenses
- ✓Track mileage
- ✓Capture receipts
- ✓Separate business & personal expenses
- ✓Single user access
Simple Start
$38/moBest for: small businesses needing to track income, expenses, and generate basic reports
- ✓Automated bookkeeping
- ✓Accept payments
- ✓Track sales tax
- ✓Mobile access
- ✓Bank feeds
Essentials
$75/moBest for: Suited for growing businesses requiring more robust features like bill management and multiple users
- ✓Everything in Simple Start
- ✓Up to 3 users
- ✓Bill pay
- ✓Time tracking
- ✓Manage bills & expenses
Plus
$115/moBest for: Designed for businesses needing inventory management and project profitability tracking
- ✓Everything in Essentials
- ✓Up to 5 users
- ✓Inventory tracking
- ✓Project & job costing
- ✓Class & location tracking
Advanced
$275/moBest for: For larger businesses requiring advanced analytics, custom user permissions, and dedicated support
- ✓Everything in Plus
- ✓Up to 25 users
- ✓Advanced reporting
- ✓Workflow automation
- ✓Dedicated support
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
- •Expense Tracking
- •Bank Connections
- •Financial Reports
- •Tax Categories
- •Payroll (add-on)
- •Time Tracking
- •Inventory Management
- •Project Profitability
- •Multi-currency
- •Receipt Capture
- •1099 Contractor Payments
- •Cash Flow Planner
- •Mobile App
- •750+ Integrations
- •Accounts Payable Management
- •Budgeting Tools
- •Customizable Invoices
- •Deposit Slip Tracking
- •Electronic Payment Options
- •Financial Statement Analysis
- •Forecasting Capabilities
- •Fund Transfer Options
- •General Ledger Management
- •Invoice Reminders
- •Job Costing Analysis
- •Liability Tracking
- •Loan Management System
- •Multi User Access
- •Online Bill Payment
- •Payment Reminders
- •Purchase Order Management
- •Reconciliation Tools
- •Recurring Invoices
- •Sales Tax Management
- •Transaction Matching
- •Vendor Management
- •Accounts Receivable
- •Audit Log Tracking
- •Billing Statements
- •Credit Memo Management
- •Customer Statements
- •Estimate Conversion
- •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
- +Vast network of certified ProAdvisors for expert help
- +Largest third-party app ecosystem for accounting software
- +Direct bank feeds from over 24,000 financial institutions
- +Industry-standard Chart of Accounts, simplifying tax prep
- +Robust mobile app with receipt capture and mileage tracking
- −Steep learning curve for non-accountants due to feature depth
- −Plan-based limits on users and features can force costly upgrades
- −Inventory management is basic; requires Plus plan or higher
- −Reporting customization is limited compared to desktop versions
- −Customer support wait times can be long during peak periods
- +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
QuickBooks Online raised "Essentials" from $65/mo to $75/mo (+15%)
Price change · May 30, 2026
QuickBooks Online raised "Simple Start" from $35/mo to $38/mo (+9%)
Price change · May 30, 2026
QuickBooks Online added a new "Solopreneur" plan at $20/mo
Plan added · May 30, 2026
QuickBooks Online raised "Plus" from $90/mo to $115/mo (+28%)
Price change · May 30, 2026
QuickBooks Online raised "Advanced" from $200/mo to $275/mo (+38%)
Price change · 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
Related Comparisons
Sources & Data Trail · QuickBooks Online
- 1.Official Pricing Page·Source of verified tiers(Checked: 2026-05-30)
- 2.Official Website·Official vendor website
- 3.G2·G2 verified reviews · 4.4/5 · 385 reviews
- 4.Capterra·Capterra verified reviews · 4.3/5
- 5.TrustRadius·TrustRadius verified reviews
- 6.PeerSpot·PeerSpot enterprise peer reviews
Sources & Data Trail · Wave
- 1.Official Pricing Page·Source of verified tiers(Checked: 2026-05-30)
- 2.Official Website·Official vendor website
- 3.G2·G2 verified reviews · 4.4/5 · 319 reviews
- 4.Capterra·Capterra verified reviews · 4.4/5
- 5.TrustRadius·TrustRadius verified reviews
- 6.PeerSpot·PeerSpot enterprise peer reviews