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FreshBooks vs Wave Accounting 2024 Comparison

Another great feature is the option to mark an expense as billable and later charge that expense back to your customer. If Wave has all of the features your small business needs and you don’t foresee any future expansion, there’s little reason to pay for a different product. FreshBooks also limits the number of billable clients you can have in its Lite and Plus plans, whereas Wave enables unlimited invoicing for an unlimited number of clients for free. Though both products have apps for sending invoices on the go, FreshBooks’ mobile app capabilities go a step further by letting you snap photos of receipts and track mileage. ET from Monday to Friday; offers email support, but not live chat support with a human. Kelly Main is staff writer at Forbes Advisor, specializing in testing and reviewing marketing software with a focus on CRM solutions, payment processing solutions, and web design software.

FreshBooks collaborates with Gusto for payroll processing, with plans beginning at $39 + $6 per person per month. FreshBooks also offers an intuitive interface that is simple to navigate. The company regularly updates its navigation to enhance user experience. So, even if you’ve never used accounting software before, https://quickbooks-payroll.org/ you’ll find it effortless to navigate the system. Wave’s Starter and Pro Plans are affordable and easy-to-use ways to set up invoicing and accounting solutions for your business. User-friendly interfaces, complete with dashboards and drag-and-drop features, make these software solutions accessible even for novices.

  1. You can add a client to the invoice and change different parts, like the due date, company info, date of issue, and more.
  2. However, many users criticize Wave for its poor customer service, citing slow email responses and less-than-knowledgeable support staff.
  3. You can also create and modify expenses, generate expense reports, and schedule recurring expenses to be created automatically on a regular basis.
  4. To compare Wave Accounting vs. FreshBooks, we created free accounts with both services so we could test each tool’s user-friendliness, features, and mobile apps.

However, if your business goals include growth, this might not be the best solution. Wave provides its native full-service Wave Payroll, available in 14 states and Canada. Paid plans begin at $40/month, with an additional $6 per active employee or independent contractor. An additional benefit is that FreshBooks offers in-app assistance that guides you through the software’s features and how to use them properly.

This influences which products we write about and where and how the product appears on a page. You can also check out how FreshBooks compares to other programs and details about its function as a viable alternative on our comparison page. Easily take the hours you’ve logged and add them to a client’s invoice.

Through Wave, you can onboard and pay employees and independent contractors via direct deposit. Wave also handles payroll taxes in 14 states, but all other states are self-serve (the platform continues to add more full-service states). In full-service states, payroll in Wave costs $35 plus $6 per employee or contractor per month. In self-serve states, the cost is $20 plus $6 per employee or contractor per month. Transaction fees apply on both platforms, and all payment methods are optional. You can disable payments and let clients pay another way, such as through a paper check or PayPal.

FreshBooks vs. Wave: Support

The choice between FreshBooks and QuickBooks comes down to what features you need and how much you’re willing to pay. If you need a comprehensive accounting solution, then QuickBooks is the better option. However, if your top priority is ease of use, FreshBooks is the better choice as it’s far more beginner-friendly. Between the two, FreshBooks is the better-priced product, though QuickBooks is a good value for what you get. Both software programs have a 30-day free trial for you to test the product and see if it will be sufficient for your needs.

FreshBooks vs. Wave: Which Software Should You Use?

As you’ll see below, you can use a real-time timer to track the time spent on projects, or you can simply mark the hours you worked after the fact. Other customers told us that the reporting feature isn’t as advanced as some alternatives offer, but it includes the necessary reports to bring to a CPA to prepare documents for yearly taxes. Overall, Wave is one of the easiest tools to use to send invoices to many different individuals.

FreshBooks has an advantage here because it offers phone support, whereas Wave offers chat and email. FreshBooks wins this round since it is the only one of the two that has project management features. By considering these factors, you can make an informed decision on which accounting solution best suits your business needs. But the good news is the two apps can integrate with each other via Zapier.

How Do FreshBooks & Wave Compare With Alternatives?

However, in spite of this, we recommend Wave for all small businesses that need moderate power and functionality. The top features included with FreshBooks are invoicing, receipt capture, and project tracking. For a full description of what FreshBooks has to offer, check out the full FreshBooks review. Wave offers a free plan if you want to send invoices and not do much else.

Freshbooks Offers Much More Than Invoicing to Help With Your Day-to-Day Accounting

With the free Wave software, you’ll receive self-service support through their Help Center and assistance from their chatbot, Mave. For users of Wave’s Payroll, Payments, Advisors, or Banking services, email support and live chat with Mave are available on weekdays from 9 a.m. We’ve put together a straightforward comparison chart for FreshBooks vs Wave. This chart presents their features side-by-side to make it easy for you to pinpoint the accounting solution that aligns best with your business requirements. There must be hundreds, if not thousands, of options available on the market today.

Wave vs FreshBooks features & functionality

Xero integrates seamlessly with Gusto payroll services for an additional $40 per month, making it easy to track how much employees are getting paid. When it comes to accounting software, QuickBooks is the clear winner. It offers quickbooks sugarcrm integration a wide range of features that can help small businesses keep track of their finances. From tracking income and expenses to creating invoices and paying bills, QuickBooks has everything you need to manage your books.

Wave connects with a few apps directly, including Etsy, PayPal, and Shoeboxed, while offering connection to more than 1,000 additional apps using Zapier. Like FreshBooks, Wave offers a vertical menu bar to the left of the screen, with access to integrations and settings found at the bottom of the menu bar. Clicking on a feature brings up a short menu of functions available, which you can click on to access that function. Once the product has been set up, the dashboard will display a summarized view of your business. FreshBooks dashboard displays a welcome screen to new users that shows your setup progress, so you know exactly how much you have left to go. A navigation bar to the left of the  welcome screen provides access to all system features.

It’s free to use, and the clear user interface makes it easy for anyone to adopt and navigate, so you can spend more time offering your services and less on managing your business. Both Wave and QuickBooks have the option to add payroll capabilities to your account for an additional fee. With FreshBooks Payments your business can start accepting credit card payments online right away, in just a few clicks. Switching from Wave, spreadsheets or a different accounting software? Rather than manually create an invoice every single time, FreshBooks pulls the necessary data from your contacts and creates a template for quick and easy processing. While it is automated, the user never loses the ability to control the process.

QuickBooks Online is a more scalable solution than FreshBooks and Wave, with four plan tiers and the ability to accommodate larger small businesses. The software has a range of features and add-ons, and integrates with hundreds of apps including QuickBooks’ own payroll and payment processing software. When you send an invoice, clients have the option to pay with the click of a button by entering their credit card or bank account information or connecting to Apple Pay. Wave doesn’t include a time-tracking feature, so you’ll have to track hours separately and enter them manually for hourly work. Not only can it be difficult to keep track of all your income and expenses, but it can be even more of a challenge to keep your books in order. That’s why many small business owners turn to accounting software to help them out.

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