What is Wave accounting software?

Wave's free tier includes unlimited invoicing, expense tracking, basic financial reports, and receipt scanning. You can connect your bank account and reconcile transactions. There is no limit on the number of invoices or clients, which is an advantage over some competitors.

For a truly free product, Wave delivers genuine value. If you are starting out and want to get your finances organised without spending anything, it is a reasonable first step. Just be aware that "free" means the product is sustained by the revenue from payment processing and payroll add-ons - which means the free accounting features are unlikely to receive the same development investment as a paid product.

Wave's customer support is limited on the free plan - you are largely on your own. The bank feed connection can be unreliable for some banks. Payroll is a paid add-on ($35/month + per-employee fee). Inventory tracking is not available. For businesses that grow beyond basic bookkeeping needs, Wave often falls short.

Users frequently report that Wave's bank connections break and require manual reconnection, which defeats the purpose of automated imports. If reliable bank feeds are important to your workflow, test the connection with your specific bank during the free period before relying on it.

Note.now also offers a free plan with core double-entry accounting and invoicing. The key difference is that Note.now is built on proper double-entry bookkeeping from day one, and upgrading keeps all your data. Wave is a good starting point, but many businesses eventually migrate to a more robust platform.

The migration away from Wave is a common experience. Most businesses outgrow it within a year or two as their transaction volume increases and their reporting needs become more specific. If you anticipate growing quickly, it is worth starting on a platform that you will not have to migrate off in 12 months.