The software makes it easy to stay organized, keep track of payments owed and expenses made, send invoices and accept payments. While there are many accounting software options out there, FreshBooks is particularly well-suited for smaller businesses and companies with one main owner and operator. However, both Wave and FreshBooks don’t allow you to enter bill payments, classify transactions from bank feeds, and view reports. If you need such features, you might want to check out Zoho Books, which tops our list of the best mobile accounting apps.
Should your business use FreshBooks or Wave Accounting?
In contrast, FreshBooks has a robust online resource library and a basic troubleshooting chatbot. nta abbreviation american english definition and synonyms You can request help directly from your FreshBooks dashboard, which includes quick links to the FreshBooks help center. FreshBooks runs frequent sales throughout the year, offering new users discounts as deep as 50% off for up to six months. Businesses can also take advantage of a 10% discount if they pay annually rather than month to month. You can create your Wave account, set up your business in minutes, and see for yourself.
With Wave’s free plan, customer support is limited to Wave’s chatbot and online resource center. Pro plan users can access live customer service during business hours on weekdays, but support is limited to email and live chat only. Phone-based customer support isn’t available with any Wave Accounting or Wave Payroll plan. This means that you can access the platform from anywhere as long as you have an internet connection. Whether you use the desktop software or the mobile app, you can detail expenses, send invoices and run reports.
The safety of your private data is our top priority, that’s why it’s protected by 256-bit SSL encryption—the gold standard in internet security. FreshBooks is cloud-based accounting software and uses industry-leading secure servers. FreshBooks is MTD compliant as of April 1, 2019 with our MTD Portal. Making Tax Digital is an HM Revenue & Customs (HMRC) initiative designed to make sure the UK tax system is effective, efficient and simpler for taxpayers.
- Meanwhile, as free software, Wave is one of the easiest-to-use accounting programs on the market.
- Wave has a solid feature set, even though it offers just a single inexpensive plan.
- We have an extensive history of reviewing small business accounting software, and we stay up-to-date with the latest features and enhancements.
- We consider this a tie since the two programs have their unique strengths and weaknesses.
FreshBooks Alternatives and How They Compare
For instance, while FreshBooks provides phone support, it has no live chat feature, which could be the preference of some users. On the other hand, Wave lacks phone support and provides live chat and email assistance only if you purchase an add-on in the free plan or upgrade to the paid version. Once you’re done with a project, you can convert it into an invoice easily.
Wave plans
Wave offers a free plan (Starter) for a single user and a paid version (Pro) for unlimited users. Both tiers include basic bookkeeping features, such as invoicing and income and expense tracking. Wave and FreshBooks are two of the most noteworthy accounting software options for small businesses. Wave Accounting’s completely free software plan lets small-business owners — especially self-employed freelancers — track their finances, send invoices and get paid at no cost. FreshBooks, which starts at $19 a month, has more expansive invoicing features and multiple plans that scale up to support growing and midsize businesses. FreshBooks is an accounting software designed for solo business owners, freelancers and sole proprietors.
FreshBooks Is Built to Support UK Businesses—and Their Clients
FreshBooks has a help center that offers a range of how-to articles and frequently asked questions. To deepen your understanding of the software, you can even view on-demand webinars. Invite employees, contractors, and clients to collaborate on projects. Partly, because they lack the resources to stay compliant with legislations such as Open Banking and MTD.
See how FreshBooks makes day-to-day bookkeeping easy to use for business owners—even if you have no prior experience with accounting software. We recommend Wave over FreshBooks because it offers better features, pricing, and support. Wave is a particularly good pick for side businesses, since it has a free plan that offers more complex tools than you’ll tend to find with other accounting solutions.
Even those without accounting experience can easily learn to manage their finances using Wave. The best option for you in terms of pricing would depend on your needs and plans. With 3 price plans available, you always get a feature-rich solution while only paying for what you need right now. In evaluating pricing, we considered the billing cycle (monthly or annual) and number of users.