Wave Accounting vs Xero
Comparing two industry leaders in accounting. See how pricing, features, and user ratings stack up.
Wave Accounting
FreemiumFree invoicing and accounting software built specifically for sole proprietors and micro-businesses.
Core Features
Xero
PaidCloud accounting platform connecting small businesses to advisors, banks, and payment providers.
Core Features
Feature Breakdown: Wave Accounting vs Xero
See which capabilities are supported out of the box by each platform.
| Feature / Capability | Wave Accounting | Xero |
|---|---|---|
| Free Invoicing | ✓ Included | — |
| Income Tracking | ✓ Included | — |
| Bank Connections | ✓ Included | — |
| Credit Card Processing | ✓ Included | — |
| Bank Feeds | — | ✓ Included |
| Fast Invoicing | — | ✓ Included |
| Bill Pay | — | ✓ Included |
| Inventory Tracking | — | ✓ Included |
| Multi-Currency | — | ✓ Included |
Our Verdict: Which One Should You Pick?
Choose Wave Accounting if:
You need Free Invoicing and Income Tracking, and prefer a freemium model starting at $0/month. With a 4.4 rating, it is ideal for teams focused on speed and simplicity.
Choose Xero if:
You prioritize Bank Feeds and Fast Invoicing, and want a solution rated at 4.5/5.0. Its starting tier at $15/month makes it a top competitor for scaling workflows.
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Read comparison →Frequently Asked Questions
Which is better: Wave Accounting or Xero?
Wave Accounting is rated 4.4/5.0 (starts at $0/mo), while Xero is rated 4.5/5.0 (starts at $15/mo). Choose Wave Accounting for Free Invoicing and Income Tracking, or Xero for Bank Feeds and Fast Invoicing.
Is Wave Accounting cheaper than Xero?
Yes, Wave Accounting starts at $0/month, which is lower than Xero ($15/month).
Do Wave Accounting or Xero offer free plans?
Wave Accounting offers a freemium plan, whereas Xero operates on a paid tier. Review the side-by-side feature matrix above to see exact tier inclusions.