Xero vs Wave Accounting
Comparing two industry leaders in accounting. See how pricing, features, and user ratings stack up.
Xero
PaidCloud accounting platform connecting small businesses to advisors, banks, and payment providers.
Core Features
Wave Accounting
FreemiumFree invoicing and accounting software built specifically for sole proprietors and micro-businesses.
Core Features
Feature Breakdown: Xero vs Wave Accounting
See which capabilities are supported out of the box by each platform.
| Feature / Capability | Xero | Wave Accounting |
|---|---|---|
| Bank Feeds | ✓ Included | — |
| Fast Invoicing | ✓ Included | — |
| Bill Pay | ✓ Included | — |
| Inventory Tracking | ✓ Included | — |
| Multi-Currency | ✓ Included | — |
| Free Invoicing | — | ✓ Included |
| Income Tracking | — | ✓ Included |
| Bank Connections | — | ✓ Included |
| Credit Card Processing | — | ✓ Included |
Our Verdict: Which One Should You Pick?
Choose Xero if:
You need Bank Feeds and Fast Invoicing, and prefer a paid model starting at $15/month. With a 4.5 rating, it is ideal for teams focused on speed and simplicity.
Choose Wave Accounting if:
You prioritize Free Invoicing and Income Tracking, and want a solution rated at 4.4/5.0. Its starting tier at $0/month makes it a top competitor for scaling workflows.
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Read comparison →Frequently Asked Questions
Which is better: Xero or Wave Accounting?
Xero is rated 4.5/5.0 (starts at $15/mo), while Wave Accounting is rated 4.4/5.0 (starts at $0/mo). Choose Xero for Bank Feeds and Fast Invoicing, or Wave Accounting for Free Invoicing and Income Tracking.
Is Xero cheaper than Wave Accounting?
No, Wave Accounting is more affordable starting at $0/month compared to Xero ($15/month).
Do Xero or Wave Accounting offer free plans?
Xero offers a paid plan, whereas Wave Accounting operates on a freemium tier. Review the side-by-side feature matrix above to see exact tier inclusions.