QuickBooks Online vs Wave Financial: Which One Fits Your Solo Dev Stack?
Free tier limits, real costs for 1-10 users, and honest "not for" warnings. The Solo Dev decision guide for QuickBooks Online vs Wave Financial.
⚡ Quick Verdict
It's a tie! Both tools score 4.3/5. Your choice should depend on your specific workflow and team needs.
💰 Cost by Team Size
| Team Size | QuickBooks Online | Wave Financial |
|---|---|---|
| Solo (1 user) | $30/mo | $0/mo |
| Small (5 users) | $60/mo | $0/mo |
| Growing (10 users) | $90/mo | $0/mo |
| Free Tier | ❌ No | ✅ Completely free accounting, invoicing, and receipt scanning. Unlimited invoices and clients. Unlimited users. |
Pricing Plans
| Plan | QuickBooks Online | Wave Financial |
|---|---|---|
| Free Plan | ❌ No | ✅ Yes |
| Simple Start | $30/mo | $0/mo |
| Essentials | $60/mo | $0/mo |
| Plus | $90/mo | — |
| Advanced | $200/mo | — |
Feature Comparison
| Feature | QuickBooks Online | Wave Financial |
|---|---|---|
| Invoicing | ★★★★☆ | ★★★★☆ |
| Accounting | ★★★★★ | ★★★★☆ |
| Reporting | ★★★★★ | ★★★☆☆ |
| Tax Preparation | ★★★★★ | ★★★☆☆ |
Pros & Cons
QuickBooks Online
✅ Pros
- Industry standard — every accountant knows QuickBooks
- Most comprehensive reporting and financial analysis
- Integrated payroll and tax filing
- 750+ third-party integrations
- Strong bank feed and reconciliation
❌ Cons
- Expensive — $30-200/month with no free plan
- Frequent price increases (has raised prices 3x since 2023)
- Can be complex for non-accounting users
- Payroll is an additional $45+/mo add-on
- Customer support quality has declined
Wave Financial
✅ Pros
- 100% free accounting and invoicing — no catch
- Unlimited invoices, clients, and users on free plan
- Double-entry accounting with bank connections
- Receipt scanning via mobile app
- Professional invoice templates
❌ Cons
- No inventory management
- Limited integrations (no Zapier, limited API)
- Payment processing fees are higher than Stripe (2.9% + 60¢)
- No time tracking or project management
- Customer support is limited on free plan
Who Should Use What?
✅ Choose QuickBooks Online if...
- You are a small businesses with accountants/bookkeepers
- You are a companies needing payroll + accounting in one platform
- You are a us businesses needing tax preparation
🚫 Skip if...
- Freelancers with simple invoicing needs (FreshBooks or Wave)
- Budget-conscious solopreneurs
- International businesses (Xero may be better)
✅ Choose Wave Financial if...
- You are a freelancers who want free accounting
- You are a side hustlers and micro-businesses
- You are a non-technical users needing basic bookkeeping
🚫 Skip if...
- Growing businesses needing advanced features
- Teams needing payroll integration
- Businesses with inventory
🏆 Our Verdict
Both QuickBooks Online (4.3/5) and Wave Financial (4.3/5) are excellent tools in their category. They're evenly matched — your decision should come down to your team's specific workflow and budget requirements.
Frequently Asked Questions
Is QuickBooks Online better than Wave Financial?
It depends on your needs. QuickBooks Online excels in some areas while Wave Financial has its own strengths. Read our full comparison above to see which tool fits your specific requirements.
How does QuickBooks Online pricing compare to Wave Financial?
QuickBooks Online starts at $30/mo, while Wave Financial starts at Free / $0/mo. Both offer different value propositions — check our pricing comparison section for a detailed breakdown.
Can I migrate from QuickBooks Online to Wave Financial?
Yes, most B2B tools offer data import/export features. Wave Financial typically provides migration guides and sometimes even dedicated support for switching from QuickBooks Online.
Which is easier to use, QuickBooks Online or Wave Financial?
Ease of use depends on your team's experience and workflow preferences. We evaluated both tools on usability — see our feature comparison scores above for details.
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