QuickBooks is the tried-and-tested accounting software for businesses of all sizes, Wave is a free alternative with a passionate fanbase… which tool is best for your business? Here's our head-to-head comparison to help you choose.
Comparing QuickBooks vs Wave – which is the best accounting software for you?
The main difference between QuickBooks vs Wave is that Wave is free, and QuickBooks is not.
Another difference is that QuickBooks is one of the most comprehensive finance tools on the market, while Wave is a better choice if you want simplicity instead of complexity.
Before we get started, know that in this post we're focusing on QuickBooks Online - Intuit's cloud product that's available on any device - rather than their desktop solutions.
OS compatibility:
Wave: Waves Plugins and applications are supported and tested on operating systems installed on the built-in system hard drive. Operating systems installed on external hard drives are not tested and may not be fully functional with our software.
QB: QuickBooks is now designed and built to run on Mac OS X. QuickBooks windows and controls, including a revised icon bar, are also designed to be consistent with the Aqua user interface. QuickBooks also works with Mac OS 9.2. 2. Learn more about QuickBooks for mac desktop
Comparing Wave vs QuickBooks feature sets
Is Wave better than QuickBooks? The honest answer is that it depends on your business, your budget, and the features that are important to you.
If you're looking for free accounting software, Wave is one of the best tools to try out. Wave offers a brilliant range of core accounting and invoicing features, and small business owners should find everything that they need in that department. It also offers payments, receipts, multiple users, and even multiple businesses to be managed in the same free account.
Although Wave has a very comprehensive feature set, there is some scheduling software that works with QuickBooks and does not work with Wave. These include time tracking, mileage, and inventory management.
Here's our comparison table of Wave versus QuickBooks feature sets to give you a quick overview:
Wave Plans: Wave (free)
- Unlimited bank and credit card connections
-Unlimited income and expense tracking
-Unlimited guest collaborators
- Run multiple businesses in one account
-Unlimited customizable invoices
QuickBooks plans
QuickBooks Essentials ($25/month)
- Send invoices and accept payments
- Manage bills and expenses
- Track sales and tax
- Capture and organize receipts
- 1 user
QuickBooks Plus ($70/month)
Essentials features, plus:
- Track project profitability
- Track inventory
- Track time
- 5 users
QuickBooks Advanced ($150/month)
Plus features, plus:
- Smart reporting
- Custom user permissions
- Premium care & training
- Enhanced custom fields
- 25 users