5 Best Wave Alternatives in 2025
Last updated: February 2026 • 17 min read
Wave is a popular tool for freelancers and micro-businesses wanting free accounting. While it offers a free tier (Free accounting and invoicing), its paid plans start at Free. Whether you're looking for a cheaper option, better features, or an open-source solution, we've compiled the 5 best Wave alternatives to help you find the right fit.
📋 Quick Summary
- Total alternatives: 5
- Free alternatives: 3 (Zoho Books, GnuCash, Akaunting)
- Open-source options: GnuCash, Akaunting
- Best overall: QuickBooks
- Best free: Zoho Books
Why Look for Wave Alternatives?
People commonly look for Wave alternatives for several reasons:
- Cost: While Wave has a free tier, its paid plans starting at Free can add up quickly for growing teams.
- Feature gaps: Limited features and no inventory are common complaints.
- Simplicity: Some users find Wave overly complex for their needs and prefer simpler solutions.
- Data ownership: Organizations wanting data sovereignty prefer open-source, self-hosted alternatives.
- Better fit: Different tools excel at different use cases — you may find a tool that's specifically built for your workflow.
📊 Quick Comparison Table
| Tool | Free Tier | Starting Price | Rating | Open Source | Best For |
|---|---|---|---|---|---|
| Wave | ✓ Free accounting and invoicing | Free | ⭐ 4 | No | Freelancers and micro-businesses wanting free accounting |
| QuickBooks | ✗ No | $30/mo | ⭐ 4.2 | No | Small businesses needing comprehensive accounting |
| FreshBooks | ✗ No | $17/mo | ⭐ 4.3 | No | Freelancers and service businesses |
| Zoho Books | ✓ Free for <$50K revenue | $15/mo | ⭐ 4.2 | No | Growing businesses in the Zoho ecosystem |
| GnuCash | ✓ Completely free | Free | ⭐ 3.8 | ✓ Yes | Users wanting free desktop accounting software |
| Akaunting | ✓ Free (self-hosted) | Free | ⭐ 3.9 | ✓ Yes | Small businesses wanting free, self-hosted accounting |
Detailed Reviews of Each Alternative
QuickBooks
Leading small business accounting software by Intuit.
QuickBooks by Intuit is the most popular accounting software for small and medium businesses. It offers invoicing, expense tracking, tax preparation, payroll, and financial reporting. Available in both online and desktop versions, QuickBooks serves millions of businesses worldwide.
Pros
- ✓ Industry standard
- ✓ Comprehensive features
- ✓ Great for taxes
- ✓ Large ecosystem
Cons
- ✗ Expensive
- ✗ Can be complex
- ✗ Price increases
- ✗ Subscription only
FreshBooks
Accounting software built for service-based businesses.
FreshBooks is an accounting platform designed specifically for self-employed professionals and small service-based businesses. It excels at invoicing, time tracking, and expense management with an incredibly user-friendly interface that makes accounting less intimidating.
Pros
- ✓ Very user-friendly
- ✓ Great invoicing
- ✓ Time tracking built-in
- ✓ Beautiful design
Cons
- ✗ Limited for complex accounting
- ✗ Expensive for features
- ✗ Basic inventory
- ✗ Client limits on plans
Zoho Books
Online accounting software for growing businesses.
Zoho Books is an online accounting platform that's part of the Zoho ecosystem. It offers comprehensive features including invoicing, expense tracking, inventory management, and bank reconciliation. As part of Zoho's suite, it integrates seamlessly with Zoho CRM, Projects, and other Zoho apps.
Pros
- ✓ Free for small businesses
- ✓ Comprehensive features
- ✓ Zoho ecosystem
- ✓ Good value
Cons
- ✗ Complex interface
- ✗ Steep learning curve
- ✗ US features limited
- ✗ Support can be slow
GnuCash
Free, open-source personal and small business accounting software.
GnuCash is a free, open-source accounting application suitable for personal finance and small business accounting. It uses double-entry bookkeeping and supports multiple currencies, making it a solid choice for users who want powerful accounting without any cost.
Pros
- ✓ Completely free
- ✓ Open source
- ✓ Double-entry
- ✓ Multi-currency support
Cons
- ✗ Dated interface
- ✗ Steep learning curve
- ✗ No cloud sync
- ✗ Desktop only
Akaunting
Free, open-source online accounting software.
Akaunting is a free, open-source online accounting software designed for small businesses and freelancers. It provides invoicing, expense tracking, and financial reporting with a modern web interface. Being open source, it can be self-hosted for complete data control.
Pros
- ✓ Free and open source
- ✓ Web-based
- ✓ Self-hostable
- ✓ Modern interface
Cons
- ✗ Limited features vs paid tools
- ✗ Requires hosting
- ✗ Small community
- ✗ Basic reporting
🏆 Our Recommendations
Best Overall Alternative:
QuickBooks — Small businesses needing comprehensive accounting
Best Free Alternative:
Zoho Books — Free for <$50K revenue
Best Open-Source Alternative:
GnuCash — Users wanting free desktop accounting software
❓ FAQ
What is the best free alternative to Wave?
The best free alternative to Wave is Zoho Books, which offers Free for <$50K revenue.
Is there an open-source alternative to Wave?
Yes! GnuCash, Akaunting are open-source alternatives to Wave that you can self-host for free.
What is the cheapest alternative to Wave?
The cheapest alternatives are the free options: Zoho Books, GnuCash, Akaunting. For paid alternatives, prices start from as low as $15/mo.
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