FreshBooks vs Wave: Best Free Invoicing Tool? (2026)

FreshBooks vs Wave: which one actually runs an entire freelance business?

Both handle core accounting: income and expense tracking, invoicing, bank reconciliation, and financial reports. But once a client asks for a project update, or a proposal needs to go out before the invoice exists, most users end up opening three or four other apps, ... because neither tool has contracts, project management, or a client-facing workspace needed to run a complete client workflow from one place.

FreshBooks is paid invoicing software with built-in time tracking, but Lite caps at 5 clients, each team member adds $11 to $13 per month on top of the base plan, proposals require the $33/month Plus plan, and bank reconciliation locks behind Plus too.

Wave offers free accounting and unlimited invoicing with no client caps, but there's no built-in time tracking at all, no proposals, no contracts, no client portal, and Trustpilot shows 1.3/5 from users dealing with payment funds held without explanation and support that doesn't respond.

Plutio handles invoicing and the full client workflow: proposals that auto-create projects when the client signs, time tracking that flows into invoices, and clients who check progress, approve deliverables, and pay from their own branded portal. Skip the comparison and try Plutio free.

Last updated February 2026

4.6

Quick comparison (TLDR)

FreshBooks is paid accounting software for service businesses that bill hourly. Invoicing, time tracking, and a limited client portal come standard, but client limits cap at 5 on Lite and 50 on Plus, and each additional team member adds $11 to $13 per month on top of the base plan.

Wave is free accounting and invoicing software with no time tracking, no proposals, and no client-facing workspace. The Starter plan costs $0 with no time limit and no credit card required. The Trustpilot score of 1.3/5 reflects widespread complaints about payment funds being held and unresponsive support.

Key differences at a glance

Time tracking: FreshBooks includes a timer on all plans; Wave has zero native time tracking.
Base cost: Wave Starter is free forever; FreshBooks Lite starts at $19/month ($17.10/month annually).
Client limits: FreshBooks Lite caps at 5 clients; Wave has unlimited clients at no cost.
Team users: FreshBooks charges $11 to $13 per additional user per month; Wave Pro includes unlimited users at $19/month flat.
Proposals: FreshBooks Plus ($33/month) includes proposals; Wave has no proposal feature.
Payment trust: FreshBooks Trustpilot 3.9/5 (984 reviews); Wave Trustpilot 1.3/5 (180 reviews) with reports of held funds.

The verdict? FreshBooks fits solo service businesses that bill hourly and need time tracking built in. Wave fits freelancers with simple bookkeeping needs who want $0 accounting and don't need hourly billing. Neither covers the full workflow from proposal to payment. If you need proposals, contracts, project management, and invoicing connected, Plutio covers all of it starting at $19/month.

Paying for three tools to do what one should?

One branded platform. Proposal to paid invoice.

Proposals, contracts, projects, time tracking, invoicing, and a client portal. All connected for $19/month.

No credit card required

Plutio - Your entire business, one login away

4.6/5 Rating

4.4/5 Rating

4.6/5 Rating

Interface and setup

How long does it take to send your first invoice, and does the tool stay out of your way after that?

FreshBooks

FreshBooks uses a clean left-navigation layout with guided setup that walks new users through connecting a bank account and creating their first invoice. The dashboard shows open invoices, overdue invoices, total expenses, and recent activity. Most service businesses can send their first invoice within 30 minutes of creating an account.

Guided onboarding with step-by-step checklist
Mobile app with timer and expense capture
Client-facing invoice view with pay-now button
Client limit on Lite (5) and Plus (50) plans
No free plan. 30-day trial only

Wave

Wave uses a horizontal top navigation with separate modules for invoicing, accounting, payroll, and payments. The free Starter plan has no onboarding restrictions, and new users can create an account and send an invoice in under 15 minutes. The dashboard shows a cash flow summary, recent transactions, and unpaid invoices. New users often find the module structure less obvious than FreshBooks' sidebar layout.

Free forever, no credit card required
Unlimited clients and invoices on all plans
Multiple businesses under one account at no extra cost
No onboarding checklist or guided setup
Support limited to help center and chatbot on free plan

Invoicing and billing

Beyond sending an invoice, which tool gives you the most control over how clients pay and what they see?

FreshBooks

FreshBooks invoicing connects directly to time tracked in the platform. A freelancer who logs hours against a project can create an invoice from those hours with one click, no copy-pasting required. Recurring invoices, automatic late payment reminders, and credit card or ACH payment acceptance come on all plans. Custom invoice branding and payment links work from Lite upward.

Billable hours flow into invoices from built-in timer
Automatic late payment reminders
Accept credit card (2.9% + $0.30) and ACH (1%)
Retainer billing on Plus and above
Proposals only on Plus ($33/month) and above
Client limit blocks billing beyond 5 clients on Lite

Wave

Wave invoicing covers the essentials at no cost: unlimited invoices, recurring billing, automatic payment reminders, and multi-currency support for 160+ currencies. Credit card processing runs at 2.9% + $0.60 per transaction on the Starter plan (slightly higher per-transaction cost than FreshBooks' $0.30 flat fee). Automated reminders require the Pro plan at $19/month.

Unlimited invoices and clients at no cost
Multi-currency invoicing (160+ currencies)
Recurring billing on all plans
Automated reminders require Pro plan ($19/month)
No proposals, retainers, or contracts
Payment processing: 2.9% + $0.60 (vs FreshBooks' $0.30)

Time tracking

Can you log hours, attach them to a client, and invoice for them without switching tools?

FreshBooks

FreshBooks includes time tracking on every plan, including Lite. The built-in timer runs from the desktop app or mobile, and logged hours attach directly to a client or project. When the invoice period arrives, billable hours populate the invoice automatically. Team members can track their own time if added to the account. Project budgets on Premium show actual hours vs. planned hours in real time.

Built-in timer on all plans, including Lite
Billable hours flow directly into invoices
Team time tracking for additional users
Project budget vs. actual reporting on Premium
Project cost tracking only on Premium ($60/month)

Wave

Wave has no built-in time tracking. There is no timer, no hour log, and no way to attach time to an invoice natively. Wave's official recommendation is MinuteDock, a third-party time tracker that integrates with Wave via CSV export or manual data entry. A freelancer who bills hourly must run a separate time tracking tool and transfer hours into Wave invoices by hand.

No native time tracking on any plan
No timer, no billable hour log
No automatic time-to-invoice connection
Third-party tools (MinuteDock, Toggl) required, adding $10 to $20/month

Pricing and user limits

What does a real working setup actually cost for a solo freelancer, a two-person team, and a five-person agency?

FreshBooks

FreshBooks charges per plan and per additional user, which makes costs climb fast for teams. The Lite plan at $19/month covers one user and up to 5 clients. Plus at $33/month expands to 50 clients and adds proposals, retainers, and bank reconciliation. Premium at $60/month unlocks unlimited clients and project cost tracking. Each team member beyond the first costs $11 to $13 per month on top of the base plan.

Lite: $19/month (or $17.10 annual), 1 user, 5 clients
Plus: $33/month (or $29.70 annual), 1 user, 50 clients
Premium: $60/month (or $54 annual), unlimited clients
Each additional user: $11 to $13/month
A 5-person team on Plus costs $33 + $44 = $77/month for accounting alone
No free plan; 30-day trial only

Wave

Wave Starter is free with no time limit, no client cap, and no credit card required. The Pro plan at $19/month adds automatic bank transaction imports, auto-categorization, receipt capture with OCR, and late payment reminders. Both plans include unlimited users at no per-user charge. For a 5-person team that only needs accounting and invoicing, Wave Pro at $19/month flat compares to FreshBooks Plus at $77/month (base + 4 users).

Starter: $0, unlimited invoices and clients, unlimited accounting
Pro: $19/month (or $190/year), adds auto-import, OCR receipts
Unlimited users on Pro plan at no extra cost
Payroll: $40/month base + $6 per employee (US)
Payment processing: 2.9% + $0.60 per transaction (Starter)
Trustpilot 1.3/5: payment funds held without explanation reported by multiple users

Client communication and proposals

Can clients see the project, approve work, or sign a proposal without you sending a separate email for every update?

FreshBooks

FreshBooks includes a basic client portal where clients log in to view and pay invoices. The portal does not show project tasks, time tracked, or file deliverables. Proposals on the Plus plan and above can be sent, accepted, and converted to invoices or projects online. The client sees the proposal, signs off with a click, and FreshBooks records the acceptance. No contract e-signature comes built in; integrations like HelloSign or DocuSign handle that separately.

Client login portal for invoice viewing and payment
Online proposal acceptance (Plus and above)
Proposal converts to invoice or project on acceptance
No project status view for clients
No built-in contracts or e-signatures
Proposals locked behind $33/month Plus plan

Wave

Wave has no client portal, no proposals, and no contracts. Clients receive invoices by email, click a payment link, and that is the full extent of the client-facing experience. There is no workspace where clients check project status, see deliverables, or reach the service provider without sending a separate email. A freelancer who wants to share a proposal before starting work must use a separate tool like PandaDoc or Better Proposals and transfer the client data into Wave manually once the project begins.

No client portal on any plan
No proposals
No contracts
No shared workspace or project status view
Client interaction ends at the invoice payment link

Integrations and geographic availability

What does the tool connect to, and does it work in your country?

FreshBooks

FreshBooks has over 100 direct integrations in its App Store, connecting to Stripe, PayPal, Shopify, Gusto, HubSpot, Calendly, Zoom, and Bench. Via Zapier, the connection count extends to 8,000+ apps. Payroll runs through a Gusto integration at $40/month base plus $6 per employee. FreshBooks operates in the US, Canada, UK, Australia, and most countries where English-language accounting software applies.

100+ direct integrations
8,000+ apps via Zapier
Available internationally
Native payroll requires Gusto add-on ($40+ per month)

Wave

Wave operates in the US and Canada only. New international account registrations closed in November 2020. Direct integrations are limited: Etsy, PayPal, and Zapier cover the main connections. Zapier extends Wave to thousands of apps, but the native integration catalog is much smaller than FreshBooks. Wave Payroll covers all 50 US states as of April 2025 and all Canadian provinces except Quebec. Payroll runs through a Check partnership that has drawn criticism for tax filing errors since the transition.

Full-service US payroll in all 50 states (as of April 2025)
Canadian payroll (except Quebec)
US and Canada only, no new international accounts
Limited direct integrations; mainly Etsy, PayPal, Zapier
Payroll tax filing errors reported after Check partnership transition

Skip the comparison?

Proposals, contracts, and invoicing in one place.

Accounting ends at the invoice. Client work starts before it. Plutio covers the full cycle: from signed proposal through project delivery to paid invoice, with a branded client portal in between. Starting at $19/month.

No credit card required

4.6/5 Rating

4.4/5 Rating

4.6/5 Rating

FreshBooks vs Wave pricing breakdown

FreshBooks charges per plan tier and per user. Wave charges nothing for core accounting or charges $19/month for the Pro plan. The cost difference is real but so is the feature difference.

FreshBooks Pricing (2026)

Lite: $19/month ($17.10/month annual). 1 user, up to 5 clients. Unlimited invoices, time tracking, expense tracking, estimates, basic reports.
Plus: $33/month ($29.70/month annual). 1 user, up to 50 clients. Adds proposals, retainers, bank reconciliation, business health reports.
Premium: $60/month ($54/month annual). 1 user, unlimited clients. Adds project cost tracking and customized email templates.
Additional team members: $11 to $13 per user per month on any plan.

Wave Pricing (2026)

Starter: $0. Unlimited invoices, unlimited clients, expense tracking, bank reconciliation, basic financial reports, recurring billing.
Pro: $19/month ($190/year, or $9.50/month promotional for first 3 months). Adds auto-import bank transactions, auto-categorize, receipt OCR, payment reminders, multi-user access.
Wave Payroll: $40/month + $6 per employee (US). Full-service payroll now covers all 50 states as of April 2025. Canada: $25 CAD/month + $6 CAD per person (all provinces except Quebec).

Real-cost comparison for common team sizes

A solo freelancer billing 10 clients: FreshBooks needs Plus at $33/month because Lite caps at 5 clients. Wave Starter costs $0.

A 3-person team: FreshBooks Plus + 2 users = $33 + $22 = $55/month. Wave Pro with unlimited users = $19/month. Wave saves $432 per year, but without time tracking, which adds $10 to $20/month for a separate tool anyway.

A 5-person team: FreshBooks Plus + 4 users = $33 + $44 = $77/month. Wave Pro = $19/month. Wave saves $696 per year for accounting alone.

All-in-one platforms like Plutio start at $19/month and cover proposals, contracts, time tracking, projects, and invoicing without needing FreshBooks or Wave at all.

Cost summary: Wave costs less for every team size because the base plan is free and additional users have no per-seat charge. FreshBooks justifies its cost with time tracking and proposal features that Wave does not have. If hourly billing matters, FreshBooks' cost is the price of having the timer built in.

Which tool is better for your business type?

The fundamental trade-off: FreshBooks is accounting software with time tracking built in. Wave is free accounting software with no time tracking at all. The right choice depends almost entirely on how you bill clients.

Freelancers who bill hourly

FreshBooks suits hourly billing. The timer runs in the browser or mobile app, hours attach to a client, and the invoice pulls those hours in automatically. Wave requires a third-party time tracker and manual hour entry for every invoice period. For a freelancer billing 20 hours per week across three clients, that manual process adds 30 to 60 minutes of admin per billing cycle.

Freelancers who bill flat-rate

Wave Starter is the rational choice. Flat-rate billing does not need a timer. The invoice goes out at the agreed amount, the client pays, and the transaction records in Wave's accounting automatically. FreshBooks Lite at $19/month offers nothing meaningful over Wave for flat-rate billing.

Small agencies with teams of 3 to 10

Wave Pro at $19/month for unlimited users undercuts FreshBooks significantly. A 5-person agency on FreshBooks Plus pays $77/month for accounting. On Wave Pro, the same team pays $19/month. Wave's lack of time tracking creates tool gaps that add cost elsewhere, but FreshBooks' project management connects time directly to billing, which matters for agencies billing hourly across multiple clients.

Businesses that need payroll

Both require add-on costs for payroll. FreshBooks integrates with Gusto at $40/month base plus $6 per employee. Wave has native payroll at $40/month base plus $6 per employee in the US, but user reviews since the Check partnership transition in 2025 cite tax filing errors and payroll calculation mistakes. FreshBooks users running payroll through Gusto report fewer payroll errors on G2 and Capterra as of February 2026.

International service businesses

FreshBooks operates worldwide. Wave stopped accepting new international accounts in November 2020. A service business outside the US or Canada cannot use Wave. FreshBooks handles multi-currency invoicing, and its international availability makes it the only option of the two for non-US businesses.

What both tools are missing

FreshBooks and Wave both handle accounting and invoicing well. Both stop at the boundary of the financial workflow. Once a client engagement involves proposals, contracts, project tracking, or ongoing communication, users need separate tools.

No proposals or contracts

Wave has no proposal feature. FreshBooks has proposals on Plus and above, but they do not include e-signature contracts. A proposal accepted in FreshBooks generates an invoice, not a legally binding contract. Service businesses that need a signed agreement before starting work must use a separate tool: HelloSign, DocuSign, or PandaDoc. Each adds $10 to $25 per month. Platforms like Plutio include proposals and contracts with e-signatures in the same app.

No project management or task tracking

FreshBooks has a Projects section that shows time logged per project and team member hours, but without task lists, task assignments, milestones, or project timelines. Wave has no project features whatsoever. A freelancer managing three concurrent client projects across both tools relies on a separate project management tool: Asana, ClickUp, or Trello, adding another $10 to $20 per month per user.

No client-facing workspace

FreshBooks clients can log in to view invoices and pay them. Wave clients receive an email with a payment link and nothing else. Neither tool gives clients a workspace where they see project status, access files, review proposals, or message the service provider without switching to email. Plutio includes a white-labeled client portal where clients check progress, approve deliverables, and pay without emailing for an update.

Limited reporting

Both tools cover the accounting basics: profit and loss statement, balance sheet, and tax summaries. Neither offers budget tracking, cash flow forecasting, or project cost analysis below the Premium level of FreshBooks. Growing businesses that want financial planning beyond historical reporting need QuickBooks or Xero, which are also accounting-only tools but with more report depth.

What users do when neither tool is enough

Two paths exist: build a multi-tool stack around FreshBooks or Wave, or switch to one platform that covers the full client workflow.

The typical workaround stack

FreshBooks or Wave for accounting and invoicing ($0 to $33/month)
Toggl or Harvest for time tracking when using Wave ($10 to $12/month)
PandaDoc or Better Proposals for proposals and contracts ($19 to $49/month)
Asana or ClickUp for project management ($10 to $19/month per user)
Notion or Google Drive for file sharing and client communication ($0 to $12/month)

A Wave user who patches all these gaps pays $39 to $92/month for tools on top of the free accounting base. A FreshBooks Plus user who adds proposal software and project management pays $62 to $121/month total.

The hidden cost: handoffs between tools

A proposal accepted in PandaDoc does not create a FreshBooks project. A FreshBooks project does not show in Asana. Hours logged in Toggl do not appear in Wave invoices. Each handoff requires copying client data, project names, and billing amounts by hand. For a freelancer with five active clients, that manual transfer happens 15 to 20 times per month and takes 10 to 15 minutes each time. The total monthly admin overhead from tool fragmentation adds up to three to five hours that do not appear on any invoice.

What one platform looks like in practice

If you are curious: Plutio is one platform that covers the complete client workflow: proposals auto-create projects when signed, time tracking flows into invoices, and clients pay from a branded workspace. A proposal signed in Plutio auto-creates a project, time tracked against that project flows into an invoice, and the client pays from the same branded workspace without emailing for updates. The comparison table below shows exactly where Plutio fills the gaps left by FreshBooks and Wave.

Final verdict: FreshBooks vs Wave

Both tools solve accounting and invoicing for small service businesses. The differences emerge in time tracking, client limits, pricing, and platform trust.

FreshBooks fits when:

The business bills by the hour and needs time tracking built into the invoicing tool
Proposals and retainer billing matter and the $33/month Plus plan is acceptable
The business operates outside the US or Canada where Wave does not support new accounts
Client interaction beyond receiving an invoice matters even minimally

But know that: FreshBooks gets expensive fast for teams. A 5-person team on Plus pays $77/month for accounting software with no project management and no contracts.

Wave fits when:

The business bills flat-rate and has no need for hourly time tracking
Keeping accounting costs at $0 is the primary constraint
The team has more than one person and per-user charges would add up on FreshBooks
The business operates in the US or Canada

But know that: Wave's Trustpilot score of 1.3/5 reflects serious trust issues around payment processing. A business that routes client payments through Wave Payments should review current user reports before committing.

Consider switching to one platform if:

Time tracking, proposals, and invoicing currently live in three separate tools
Clients ask for project status updates and the answer is an email every time
Proposals and contracts require third-party tools that add $20 to $50 per month
The accounting tool is the cheapest part of the stack but not the limiting factor
Branded client experience matters and neither FreshBooks nor Wave delivers it

In each of these cases, FreshBooks and Wave leave the gap open.

But know that: Switching platforms means migrating invoice history, client records, and existing projects. For most businesses, this takes a focused weekend rather than a drawn-out migration.

The bottom line: FreshBooks handles hourly billing better than any accounting-first tool at its price point. Wave handles simple bookkeeping at no cost. Both stop at the invoice and leave proposals, contracts, project management, and client collaboration to other tools. If your workflow already spans three or four apps, the comparison table below shows how all-in-one platforms like Plutio stack up against both.

Research & Sources

This comparison draws on direct account testing, official documentation, and analysis of user feedback across major review platforms. All data was verified in February 2026.

Research methodology

Trial accounts were created on both platforms. Feature availability was cross-referenced against official help documentation. Pricing was verified against official pricing pages in February 2026. Review data was pulled from G2, Capterra, and Trustpilot with a focus on 1-3 star reviews to identify recurring complaints.

Platform ratings (February 2026)

FreshBooks: 4.4/5 on G2 (700+ reviews), 4.5/5 on Capterra (4,492 reviews), 3.9/5 on Trustpilot (984 reviews). Praised for invoicing clarity and time tracking integration. Criticized for client limits on lower tiers and per-user fees.
Wave: 4.3/5 on G2 (307 reviews), 4.4/5 on Capterra (1,697 reviews), 1.3/5 on Trustpilot (180 reviews). The G2 and Capterra scores reflect satisfaction with the free plan features. The Trustpilot score reflects widespread reports of payment funds held without explanation and unresponsive support.
Plutio: 4.6/5 on G2 (200+ reviews), praised for all-in-one coverage and white-labeled client portal.

Common user complaints (from 1-3 star reviews)

FreshBooks users frequently mention: bank feed disconnections and duplicate transaction imports; payroll calculation errors when using Gusto; client limits on Lite forcing upgrades for businesses with 6+ clients; pricing increases without feature additions.

Wave users frequently mention: payment funds held for weeks without communication or resolution; no phone support on any plan; payroll tax filing errors and double-charged taxes since the Check partnership transition in 2025; limited integrations compared to alternatives.

Pricing sources (verified February 2026)

FreshBooks: freshbooks.com/pricing
Wave: waveapps.com/pricing
Plutio: plutio.com/pricing

Feature verification

If you find any inaccuracies or outdated information, please let us know so we can investigate and update.

FreshBooks vs Wave vs Plutio: full feature comparison

See how all three tools compare on invoicing, time tracking, proposals, project management, and client portals

PRICING Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Starting price	$19/month (Core plan)	$21/month (Lite, 5 clients)	Free Starter plan available. Pro plan $19/month ($190/year)
Free plan	No free plan (7-day trial available)	No free plan (30-day trial)	Free Starter plan with unlimited invoices, estimates, bills, and bookkeeping
Trial period	7-day free trial	30-day free trial	Free Starter plan available (no trial needed)
PROJECT MANAGEMENT Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Manage projects and tasks	Fully flexible project and task setup you can shape to your workflow	Basic project tracking with profitability focus	No project management features
Project roles and permissions	Control exactly who can view or edit each part of a project	Team member permissions (Admin, Manager, Employee)	No project management features
Multiple task boards	Unlimited boards to run parallel workflows in the same project	No task boards (list-based tracking only)	No task boards
Embeddable project boards	Live project boards embedded into client portals or websites	No embeddable project views	No project boards
Sharable project boards	Read-only public links for sharing progress without risk	Clients can view documents in portal only	No project boards
Project stages and milestones	Define custom project lifecycles for different types of work	No project stages or milestones	No project management features
Connected proposals, contracts, and invoices	Everything related stays connected to the project automatically	Estimates and invoices connect (no contracts)	Invoicing only (no proposals or contracts)
Custom project data fields	Track, sort, filter, and report on custom project data	No custom project fields	No project management features
Kanban boards	Drag-and-drop tasks across customizable columns	No Kanban boards	No kanban boards
Table view	Bulk-edit tasks like a spreadsheet	No table view for tasks	No task or project views
List view	Clean task lists with clear hierarchy	Task list view available	No task or project views
Calendar view	See tasks and deadlines on a calendar	Calendar shows events, not tasks	No calendar view
Gantt view	Plan work visually with task order and dependencies	No Gantt charts	No Gantt view
Subtasks	Break work down into multiple nested levels	No subtasks	No task management
Email to task	Turn emails into tasks without manual copying	No email-to-task conversion	No task management
Task comments	Keep discussions tied directly to each task	Team discussion on projects	No task management
Task attachments	Store files directly on the task they belong to	Files can be attached to projects	No task management
Task priorities	Define priority levels that fit your workflow	No task priorities	No task management
Task labels & color coding	Use unlimited labels to visually organize tasks	No task labels or color coding	No task management
Multiple task assignees	Assign tasks to one or multiple teammates	Tasks can be assigned to team members	No task management
Task templates	Reuse task-level structures across projects	Project templates available	No task management
Task permissions	Control access at the individual task level	No task-level permissions	No task management
Task dependencies	Prevent work from starting out of order	No task dependencies	No task management
Recurring tasks	Automate repeating work with flexible schedules	No recurring tasks	No task management
Custom task data fields	Add task-level fields for tracking custom details	No custom task fields	No task management
TIME TRACKING Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Time tracking system	Easily track time using timers or manual entries	Timer and manual time entry	No time tracking feature
Task-level tracking	Log time directly against tasks and subtasks	Time tracked per service, not per task	No time tracking feature
Project-level tracking	See time spent per project and per client	Time tracked per project and client	No time tracking feature
Billable time tracking	Clearly separate billable and non-billable time	Billable and non-billable hours supported	No time tracking feature
Billable time invoicing	Turn tracked time into invoices without extra steps	Time entries convert to invoices	No time tracking feature
Timesheet reports	View detailed time reports by task, project, or client	Detailed time reports available	No time tracking feature
Team timesheets	See how each team member tracks their time	Team time tracking on higher plans	No time tracking feature
PROPOSALS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Create and send proposals	Create proposals clients can review, approve, and sign in one flow	Estimates only (not full proposals)	No proposal features
Drag-and-drop proposal builder	Create custom, branded proposals without layout limits or code	No visual proposal builder	No proposal builder
Reusable proposal templates	Reuse proven proposal layouts across clients	Estimate templates available	No proposal templates
Real-time proposal analytics	See exactly when proposals are opened and reviewed	No proposal view tracking	No proposal analytics
Live messenger on proposals	Answer questions directly while clients review proposals	No in-proposal messaging	No proposal features
Proposal flow automation	Move from proposal to contract, invoice, or booking automatically	Estimate to invoice only	No proposal features
Convert proposal to invoice	Create invoices directly from approved proposals	Convert estimates to invoices	No proposal features
Packages and add-ons	Offer upsells and add-ons directly inside proposals	No packages or add-ons	No proposal packages
Interactive pricing tables	Let clients choose options before approving	Static pricing only	No pricing tables
Dynamic data and variables	Auto-fill proposal content with client and project data	Basic placeholders available	No dynamic variables
Expiration dates	Automatically expire proposals after a set date	Manual expiry dates on estimates	No proposal features
PDF Export	Download as branded PDFs	PDF export included	PDF export for invoices and receipts
Reusable content blocks	Create reusable proposal sections you can reuse on demand	No reusable content blocks	No reusable content blocks
Legally binding e-signatures	Collect secure electronic signatures on proposals	No e-signatures	No e-signatures
Custom proposal data fields	Create custom proposal data you can sort, filter, and report on	No custom proposal fields	No proposal features
CONTRACTS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Create and sign contracts	Create, send, and sign contracts in one continuous flow	Contracts not supported	No contract features
Drag-and-drop contract builder	Create fully custom contracts with flexible layouts, no code or formatting limits	No contract builder	No contract builder
Legally binding e-signatures	Collect secure signatures with audit trails and signer verification	No e-signatures	No e-signatures
Multi-signature / signees	Collect signatures from multiple people on the same contract	Not supported	No multi-signature support
Reusable contract templates	Reuse contract structures to create new agreements faster	No contract templates	No contract templates
Auto-reminders automation	Automatically follow up until contracts are signed	No contract reminders	Automated late payment reminders on invoices (Pro plan only)
Dynamic data/variables	Auto-fill contract content with client and project data	Not applicable	No dynamic variables
Contract automation triggers	Trigger automated workflows the moment a contract is signed	Not supported	No contract automation
View notifications	See when contracts are opened and reviewed	Email notifications when viewed	Email notifications when invoices are viewed
PDF download with signature certificate	Download signed contracts with official proof of signature	Not applicable	No contract signatures
Custom signer data fields	Collect structured signer information during signing	Not applicable	No signer fields
Custom contract data fields	Create custom contract data you can sort, filter, and report on	Not applicable	No contract features
INVOICES & PAYMENTS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Create invoices and get paid	Send invoices and collect payments in one connected flow	Full invoicing with online payments	Unlimited invoicing with online payments (credit card 2.9% + $0.60, ACH 1%)
Fully branded invoices	Match invoices to your brand with custom logos, colors, and layout	Customizable invoice branding	Basic logo and color branding on Pro plan only
Drag and drop invoice builder	Create custom invoice layouts visually without formatting limits	Template-based editor only	No drag-and-drop invoice builder (template-based only)
Customizable line items	Edit pricing, quantities, descriptions, and structure freely	Fully customizable line items	Customizable line items with product and service catalog
Item or invoice discounts	Apply discounts at the item or full invoice level	Discounts supported	Discounts supported on invoices
Customizable taxes	Create tax rules that match your location and use case	Custom tax rates	Custom tax rates and sales tax support
ACH payments	Accept bank transfers for lower-fee payments	ACH bank payments supported	ACH bank payments (1% per transaction, $1 minimum)
Stripe integration	Accept credit and debit cards instantly	Stripe payments supported	No Stripe integration (Wave Payments built-in processing only)
Square integration	Collect in-person payments when needed	Square not integrated	No Square integration
PayPal integration	Let clients pay using PayPal	PayPal payments supported	No PayPal integration (Wave Payments built-in processing only)
Flexible partial payments	Collect deposits and split payments across milestones	Partial payments supported	Partial payments supported on invoices
Payment plans	Break invoices into scheduled installments	Manual setup required	No structured payment plans
Automated recurring invoices	Automatically send invoices on a recurring schedule	Recurring invoices supported	Recurring invoices available on Pro plan only
Subscription management	Manage ongoing client subscriptions and billing	Retainers available on Plus plan	No subscription management
Automated payment reminders	Follow up automatically until invoices are paid	Automated late payment reminders	Automated late payment reminders (Pro plan only)
Reusable invoice templates	Reuse invoice layouts without rebuilding each time	Invoice templates available	Basic invoice templates (limited customization)
Multiple currency support	Bill clients globally in their local currency	Multi-currency supported	No multi-currency support (single currency per business)
Invoice automation triggers	Trigger automated workflows when invoices are sent or paid	Limited automation	No invoice automation triggers
View notifications	See when invoices are opened and paid	Email notifications when viewed	Email notifications when invoices are viewed and paid
Built-in expense tracking	Track project-related costs alongside invoices	Full expense tracking with receipts	Full expense tracking with bank connections and auto-categorization (Pro plan)
Invoice deposits	Collect upfront payments before work starts	Deposit invoicing supported	Deposit requests via partial payments
Auto-invoice billable time	Turn tracked time into invoices automatically	Time to invoice conversion	No time tracking or billable time invoicing
Custom invoice data fields	Create custom invoice data you can sort, filter, and report on	No custom invoice fields	No custom invoice fields
INBOX Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Centralized unified inbox	Manage email, chat, and messages from one shared inbox	No unified inbox	No unified inbox
Full email integration	Connect and manage all your email accounts in one place	No email integration	No email integration
Embeddable live chat	Add real-time chat to your website and client portals	No live chat	No live chat
Instant direct messages	Message teammates privately without leaving your workspace	No direct messaging	No direct messaging
Contextual project conversations	Keep conversations tied directly to the project they belong to	Project discussions available	No project conversations
Team channels	Create shared spaces for team-wide discussions	No team channels	No team channels
Customized channels	Organize channels by team, topic, or workflow	Not applicable	No channels
@mentions	Notify teammates instantly inside conversations	No @mentions	No @mentions
Message read receipts	See when messages are read	No read receipts	No read receipts
File sharing in chat	Share files directly inside conversations	No chat feature	No chat feature
Shared email inbox	Collaborate on incoming emails as a team	No shared inbox	No shared inbox
Inbox mobile app	Access and respond to messages on mobile	No inbox in app	No inbox feature
Email reply to inbox	Reply from your email client and keep conversations synced	No inbox sync	No inbox feature
FILES Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Store and manage files	Keep all client and project files in one organized place	Basic file storage in projects	Receipt and document uploads only (no centralized file manager)
Advanced folder organization	Organize files by project, client, or structure you choose	No folder organization	No folder organization
Folder permissions	Control who can view or edit folders	No folder permissions	No folder permissions
People folders	Group files by person when needed	Not supported	No people folders
Project folders	Keep files scoped to each project	Files organized by project	No project folders
In-app previews	Preview files instantly without downloading	Basic file previews	Basic receipt image previews
Custom file data fields	Capture file metadata you can sort and filter	No custom file fields	No custom file fields
Built-in documents	Create and edit documents directly inside Plutio	No document editor	No built-in document editor
Comments on files and docs	Leave comments directly on files and documents	No file comments	No file comments
Bulk file actions	Move, tag, or manage many files at once	No bulk actions	No bulk file actions
Files search & filter	Find files quickly using search and filters	Basic search	Basic transaction search
External cloud sync	Sync files with Google Drive or Dropbox	Dropbox and Google Drive integrations	No external cloud sync
Secure sharing controls	Restrict access with permissions or passwords	Basic sharing via portal	Role-based access for accountants and admins (Pro plan)
File sharing links	Share files externally with controlled access	No shareable file links	No shareable file links
SCHEDULING Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Schedule meetings	Let clients book meetings directly without back-and-forth emails	No scheduling features	No scheduling features
Branded booking page	Build a fully branded, customizable booking system using a drag-and-drop editor	No booking pages	No booking pages
Advanced availability management	Define flexible availability rules applied automatically to bookings	Not applicable	No availability management
Automatic buffer times	Add buffer time automatically between meetings	Not applicable	No buffer times
Multiple meeting types	Create unlimited booking types with different rules and setups	Not applicable	No meeting types
Calendar sync (Google/Outlook)	Two-way calendar sync that stays up to date automatically	Calendar sync for late payments only	No calendar sync
Customizable booking confirmations	Fully customizable confirmation pages with no layout or branding limits	Not applicable	No booking confirmations
Redirect after booking	Send bookers anywhere after scheduling, not just a fixed thank-you page	Not applicable	No booking system
Booking automation triggers	Trigger automated workflows the moment a meeting is booked	Not applicable	No booking automation
Smart meeting reminders	Send automatic reminders without manual follow-ups	Not applicable	No meeting reminders
Automatic timezone detection	Handle timezones automatically without manual adjustments	Timezone support for invoicing	Account timezone setting only
Paid appointments (Stripe/PayPal)	Collect payments during booking without extra steps	Not applicable	No paid appointments
Custom booking forms	Build booking forms with full control over questions and layout	Not applicable	No booking forms
Minimum notice / daily booking limits	Set booking limits to control lead time and daily volume	Not applicable	No booking limits
Rescheduling and cancellation controls	Define flexible rules for rescheduling and cancellations	Not applicable	No scheduling controls
AUTOMATION Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Automated workflows builder	Build advanced workflows visually without code or rigid templates	No workflow builder	No workflow builder
Trigger-based workflows	Start workflows from real events across projects, clients, and payments	Limited payment and invoice triggers	No trigger-based workflows
Schedule-based workflows	Run workflows on schedules you control, not fixed intervals	Recurring invoices only	Recurring invoices only (Pro plan)
Multi-step workflows	Chain multiple actions into one continuous automation	No multi-step automation	No multi-step automation
True/False branching	Create conditional paths instead of one-size-fits-all flows	No conditional logic	No conditional logic
Delay-based actions	Add precise timing between steps, down to minutes or days	Payment reminder delays	Payment reminder delays (Pro plan only)
Create & update records	Create, update, or move records automatically across the system	No record automation	No record automation
Move & duplicate records	Reorganize work automatically without manual cleanup	Not supported	No record automation
Delete & archive records	Automatically archive or remove records based on rules	Not supported	No record automation
API calls (webhooks)	Trigger or receive real-time events from external systems	Limited webhook support	GraphQL and REST API available (Pro plan required for OAuth access)
Send emails	Send automated emails tied to real workflow events	Automated invoice and reminder emails	Automated invoice and payment reminder emails (Pro plan)
Post comments	Add notes or comments automatically where work happens	No automated comments	No automated comments
Complete automation logs	See exactly what ran, when, and why	Basic activity history	Basic activity history
Auto-fill data/variables	Pass data between steps dynamically without manual mapping	Basic invoice placeholders	No auto-fill variables
Cross-entity connections	Run workflows that span projects, tasks, proposals, invoices, and more	Clients link to invoices and projects	Customers link to invoices and transactions
FORMS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Create branded forms	Build fully branded forms that match your workflow and client experience	No form builder	No form builder
Drag-and-drop form builder	Design forms visually with full layout control, no code required	Not applicable	No form builder
Reusable form templates	Reuse form structures without rebuilding from scratch	Not applicable	No form feature
Custom form data fields	Collect structured data you can sort, filter, and report on	Not applicable	No form feature
Smart conditional logic	Show or hide fields based on responses, not static forms	Not applicable	No form feature
Instant email notifications	Get notified immediately when forms are submitted	Not applicable	Invoice and payment notifications only
Form automation triggers	Trigger automated workflows when a form is submitted	Not applicable	No form feature
Embed forms	Embed forms anywhere without layout restrictions	Not applicable	No form feature
Advanced field preferences	Control required, hidden, and default field behavior	Not applicable	No form feature
Comprehensive field types	Collect text, files, dates, selections, and more	Not applicable	No form feature
Form signature field	Collect legally binding signatures directly inside forms	Not applicable	No form feature
File upload fields	Accept file uploads as part of form submissions	Not applicable	Receipt capture via mobile app (not form-based)
Redirect after submission	Send submitters to a custom next step, not a fixed thank-you page	Not applicable	No form feature
CRM Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Manage clients and leads	Manage contacts and companies in one connected system	Client management included	Basic customer management (no pipeline or lead tracking)
Full company management	Track organizations, not just individual contacts	Client records only (no companies)	Customer records for individuals and businesses (basic info only)
Custom contact data fields	Collect and manage structured contact data you define	No custom client fields	No custom customer fields
Complete activity timeline	See every interaction with a client in one place	Client activity history available	Full transaction history per customer
Contacts labeling and grouping	Organize contacts flexibly without rigid pipelines	No labels or grouping	No contact labeling or grouping
WIKI Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Comprehensive knowledge base	Create an internal wiki for processes, docs, and guides	No knowledge base	No knowledge base
Beautiful rich text pages	Write structured, formatted content without complexity	Not applicable	No rich text pages
Unlimited nested pages	Build deep knowledge hierarchies without limits	Not applicable	No nested pages
Granular page permissions	Control exactly who can view or edit each page	Not applicable	No wiki feature
DASHBOARDS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Custom dashboards and pages	Build dashboards around what matters to you, not fixed metrics	Financial dashboard only	Financial dashboard only (not customizable)
Drag-and-drop dashboard builder	Design dashboards visually with full layout control	No custom dashboard builder	No custom dashboard builder
Charts widget	Visualize data with customizable charts	Financial charts available	Basic financial charts (income and expenses)
Metrics widget	Track key numbers without manual reporting	Key financial metrics displayed	Key financial metrics displayed on dashboard
Goals widget	Monitor progress toward defined goals	No goals widget	No goals widget
Notes widget	Add contextual notes directly to dashboards	No notes widget	No notes widget
Calendar widget	View upcoming events alongside work and metrics	No calendar widget	No calendar widget
Financial widgets	Track revenue and expenses in the same view	Comprehensive financial widgets	Basic financial overview (income, expenses, invoices, bills)
BRANDING Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
White-label and branding	Run the entire platform under your brand	Branding on invoices only	Branding on invoices only (Pro plan)
Custom interface theme	Apply your brand colors across the system	No interface customization	No interface customization
Stylesheet customization	Fine-tune styling beyond basic theming	No CSS customization	No CSS customization
Custom login/signup pages	Use branded authentication pages instead of generic screens	No custom login pages	No custom login pages
Email branding	Send all system emails with your branding	Logo on emails (Premium only)	Logo on invoice emails (Pro plan only)
Custom brand fonts	Use your own fonts throughout the platform	No custom fonts	No custom fonts
Custom brand logos	Replace all platform logos with your own	Logo upload supported	Logo upload on invoices (Pro plan only)
Custom domain name	Run everything on your own domain	No custom domain	No custom domain
Custom email SMTP	Send emails from your own email infrastructure	No custom SMTP	No custom SMTP
Full workspace embedding	Embed Plutio directly into your website or product	No workspace embedding	No workspace embedding
CUSTOMIZATION Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Flexible workspace setup	Shape the platform to match how your business works	Fixed workspace structure	Fixed accounting workspace
Main menu editor	Add, remove, or reorder navigation items freely	No menu customization	No menu customization
User-based menus	Show different navigation for different roles	Fixed menus for all users	Fixed menus for all users
Custom user roles	Create role types beyond preset permissions	3 fixed roles only	4 fixed roles (Admin, Editor, Viewer, Payroll Manager) on Pro plan only
Advanced user permissions	Control access at a granular level	Basic permission levels	Role-based access on Pro plan (Admin, Editor, Viewer)
SSO / OAuth	Support enterprise-grade single sign-on	No SSO support	No SSO support
INTEGRATIONS Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Connect with other tools	Integrate with external systems without lock-in	100+ integrations available	Limited integrations (Zapier, Make.com, and API access on Pro plan)
Zapier integration	Connect to thousands of apps without custom code	Zapier supported	Zapier integration supported
Make.com integration	Build advanced automation scenarios visually	Make.com supported	Make.com integration supported
Pabbly Connect	Connect services without usage-based limits	Limited Pabbly support	Possible via API
Full REST API access	Build custom integrations with full system access	Developer API available	GraphQL and REST API available (Pro plan required for OAuth access)
Incoming & outgoing webhooks	Send and receive real-time events	Limited webhook support	Limited webhook support via API (Pro plan required)
PLATFORM Collapse	Plutio 198/199	FreshBooks 49/199	Wave 19/199
Mobile apps	Access your business from native mobile apps	iOS and Android apps	iOS and Android apps with invoicing, receipt scanning, and payment tracking
iOS app	Full-featured iPhone app	Full iOS app available	Full iOS app available
Android app	Full-featured Android app	Full Android app available	Full Android app available
Mac desktop app	Native macOS app for desktop workflows	No Mac desktop app	No Mac desktop app (web-based only)
Windows desktop app	Native Windows app for desktop workflows	No Windows desktop app	No Windows desktop app (web-based only)

Try Plutio free

FreshBooks vs Wave FAQ

Is FreshBooks or Wave better for freelancers?

FreshBooks fits freelancers who bill hourly. The built-in timer logs hours per client and pulls them into invoices automatically. Wave fits freelancers who bill flat-rate and want $0 accounting. Wave Starter is free with no client cap. If hourly billing is part of the workflow, FreshBooks justifies its cost. If not, Wave costs less and covers the same accounting basics.

Does Wave have time tracking?

No. Wave has no built-in time tracking on any plan. There is no timer, no billable hour log, and no way to connect hours to an invoice natively. Wave's recommended integration is MinuteDock, a third-party time tracker that requires manual data transfer into Wave invoices. A freelancer billing hourly must run a separate tool to track time.

How much does FreshBooks cost compared to Wave?

Wave Starter is free forever. FreshBooks Lite starts at $19/month ($17.10 annually). FreshBooks Plus runs $33/month and adds proposals, retainers, and bank reconciliation. Each additional FreshBooks user costs $11 to $13 per month. Wave Pro at $19/month includes unlimited users with no per-seat charge. For a 5-person team, FreshBooks Plus costs $77/month versus Wave Pro at $19/month for accounting alone.

Does FreshBooks have a free plan?

No. FreshBooks offers a 30-day free trial but no permanent free plan. After the trial, the minimum paid plan is Lite at $19/month. Wave Starter, by contrast, is genuinely free with no time limit, no credit card required, and no feature expiration on core accounting and invoicing.

Which is better for a small team, FreshBooks or Wave?

Wave Pro at $19/month covers unlimited users with no per-user fees, making it cheaper for teams of two or more. FreshBooks charges $11 to $13 per additional user on top of the base plan. A 3-person team on FreshBooks Plus pays $55/month versus $19/month on Wave Pro. Wave's advantage disappears if the team bills hourly, since Wave requires a separate time tracking tool at added cost.

Does Wave process payments, and is it safe?

Yes, Wave processes credit card and ACH payments directly. Credit card fees on the Starter plan run 2.9% + $0.60 per transaction. Wave's Trustpilot score of 1.3/5 (180 reviews as of February 2026) reflects widespread reports of payment funds held for days or weeks without explanation or resolution. Wave Payments carries meaningful risk for any business where cash flow timing matters.

Does FreshBooks include proposals?

Yes, but only on the Plus plan ($33/month) and above. FreshBooks proposals can be sent to clients, accepted online, and converted into invoices or projects. The Lite plan at $19/month does not include proposals. Wave has no proposal feature on any plan. A freelancer who needs to send a proposal before starting work and wants to keep costs low must either upgrade to FreshBooks Plus or use a separate proposal tool.

Can I run payroll with FreshBooks or Wave?

Neither tool includes payroll in the base subscription. FreshBooks integrates with Gusto at $40/month base plus $6 per employee. Wave has native payroll at $40/month base plus $6 per employee in the US, covering all 50 states as of April 2025. Wave's payroll service transitioned to a Check partnership in 2025, and some users report tax filing errors and double-charged taxes. FreshBooks users running payroll through Gusto report fewer tax filing errors than Wave users on G2 and Capterra as of February 2026.

Which has more integrations, FreshBooks or Wave?

FreshBooks has over 100 direct integrations and connects to 8,000+ apps via Zapier. Notable direct integrations include Stripe, PayPal, Shopify, Gusto, HubSpot, Calendly, Zoom, and Bench. Wave has limited direct integrations: Etsy, PayPal, and Zapier. Via Zapier, Wave connects to thousands of apps, but the native integration catalog is much smaller. For businesses that need direct connections to CRM, scheduling, or e-commerce tools, FreshBooks has more options.

Does Wave have a client portal?

No. Wave has no client-facing portal on any plan. Clients receive invoices by email and pay through a payment link. There is no shared workspace where clients check project status, view files, or reach the service provider between invoice cycles. FreshBooks has a basic client login where clients view and pay invoices, but it does not show project tasks or tracked time. Plutio includes a white-labeled client portal where clients check progress, approve work, and pay invoices without sending a separate email for each update.

What do FreshBooks and Wave both lack?

Both lack contracts with e-signatures, real project management with task tracking, and a client workspace that shows project status. FreshBooks has a basic client login and proposals on Plus. Wave has neither. Neither tool connects proposals, contracts, project work, and invoicing in one workflow. Businesses that need the full client lifecycle in one place typically patch the gaps with PandaDoc for proposals, DocuSign for contracts, and Asana for project tracking at added monthly cost. Platforms like Plutio connect all of these in one subscription.

Can I migrate from Wave to FreshBooks (or vice versa)?

Yes, but migration requires manual work. Wave exports income and expense data as CSV files. FreshBooks can import expenses but does not have a one-click Wave import. Invoice history, client records, and recurring billing schedules require re-entry. For most businesses with under two years of transaction history, expect two to four hours to re-enter client records, recurring invoices, and chart of accounts. Both platforms export data in standard CSV format, so the core accounting records transfer without data loss.

Is Wave available outside the US and Canada?

No. Wave stopped accepting new account registrations for users outside the US and Canada in November 2020. Existing international accounts may still function, but new sign-ups from outside North America are blocked. FreshBooks operates internationally and handles multi-currency invoicing. A service business based in the UK, Australia, Europe, or elsewhere cannot use Wave as a primary accounting tool.

Which is easier to learn, FreshBooks or Wave?

FreshBooks has a guided setup checklist and a sidebar navigation that most new users learn within a day. Wave has no onboarding checklist, and the horizontal module navigation takes slightly longer to navigate for users coming from software with left-rail menus. A first-time accounting software user can send their first invoice within 30 minutes on either platform.

What if neither FreshBooks nor Wave covers my full workflow?

Both tools stop at accounting and invoicing. If your workflow includes proposals before the project starts, contracts that need signatures, task management during the project, and a client workspace for updates and approvals, you need either a multi-tool stack or a platform that covers the full cycle. Plutio covers the full client lifecycle, from proposals and contracts through project delivery to invoicing and client payment, starting at $19/month. The same price as FreshBooks Lite or Wave Pro, with no separate tools needed for each step.

Tired of logging into four tools to run one project?

One platform from proposal to paid invoice.

Proposals, contracts, projects, time tracking, invoicing, and a client portal. No more copying data between tools.

No credit card required

4.6/5 Rating

4.4/5 Rating

4.6/5 Rating