Both of these software solutions cater to a wide range of customer bases, from freelancers to SMBs (Small to Medium Enterprises).
We will be looking at how much each of these software costs, their features, and their drawbacks.
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How does FreshBooks Work?
FreshBooks initially started as an invoicing solution for freelancers and small businesses but has since into an online accounting software service:
The most interesting feature that FreshBooks has recently added is moving to a double-entry accounting system. This makes FreshBooks a more credible piece of accounting software.
The lite package of FreshBooks starts at $15 per month. And subscriptions can go up to $50 per month for a Premium package. The lite plan lets you bill five clients, while the premium package allows you to bill up to 500.
Find out more at FreshBooks.com.
How does Wave work?
The most important thing to mention about Wave is that it is completely free. And there are no hidden limits on services like invoicing. You will only need to pay if you want extra features like adding other employees to the payroll, direct payment processing, and professional bookkeeping.
However, Wave offers a lack of guidance when it comes to new users, and it has a steeper learning curve to set up and use.
In terms of pricing, the basic version is completely free. But if you want features like Bookkeeping or Payroll Support, expect to pay around $79 per month.
Find out more at WaveApps.com.
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FreshBooks vs Wave Accounting
The single advantage Wave has over FreshBooks is the free Lite version. This is the perfect accounting software for a freelancer looking to track their earnings and outgoings.
In terms of interface, learning curve, and features, FreshBooks dominates. From its attractive dashboard that includes revenue tracking tools, helpful guidance, and much more.
The biggest advantage with FreshBooks when it comes to small businesses is its customization. With it, you can give everything a personal touch, including the invoices that go out to clients.
Another thing to note is that FreshBooks has active customer support. While Wave only offers free chat support for the first 60 days of you using their software.
In our opinion, FreshBooks comes out despite Wave having a free option. And it is the learning curve that makes Wave Accounting less appealing overall.
However, you can’t go wrong with either option:
If you want good customer support and easy-to-use software, you should go with FreshBooks. On the flip side, if you don’t want to pay for an accounting service and don’t have a problem learning, then Wave works too.
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