You also have features for scheduling work and time off, projects, approvals, and reports—all necessary features for a medium to large workforce. With Wave, you’d have to integrate a third-party app in order to track time. All in all, the invoice capabilities of both platforms are pretty similar, but I found Wave to be just a little easier to navigate.
Just like Wave Accounting, though, Wave Payroll is cheaper than QuickBooks Payroll. Its self-service plan costs $20 a month plus an additional $6 per employee. And its full-service plan is just $35 a month, which puts it on the lower end of the payroll-cost spectrum. (QuickBooks Payroll sales pricing starts at $37.50 a month plus $5 per payee—which honestly could make it cheaper than Wave Payroll depending on the number of employees you have). On the whole, if you’re okay paying less to get less, Wave Payroll could be a good pick. Unlike most accounting apps, QuickBooks’ mobile accounting app does everything its cloud-based software can do, including accounting, invoicing, expense tracking, and receipt capturing.
QuickBooks vs Wave: Which Is Better For Your Business in 2024?
No matter which platform you choose, Wave and QuickBooks both integrate with Zapier, so you can create automations to spend less time on bookkeeping and more time growing your business. Learn more about how to automate Wave or automate Quickbooks, or try one of these pre-made workflows. While Wave didn’t have the option to find my area’s sales tax requirements, it was way easier to just type the tax rate I wanted and apply it to the invoice. Simply create your Wave account, set up your business in minutes, and let the magic happen.
What percentage does Wave invoicing take?
After putting leading software through their paces we found QuickBooks was the best accountancy tool overall, while Wave is the most wallet-friendly. Its custom report builder can help you create special reports that are based on existing reports so that you can generate the report that you need. See the complete list of QuickBooks reports in the QuickBooks Help Center. Zapier is a no-code automation tool that lets you connect your apps into automated workflows, so that every person and every business can move forward at growth speed. QuickBooks may be occasionally confusing, but it does have a live chat support feature to help you out of a pickle. You can get answers from a bot, guided to tutorials, or actually chat with a real live human.
- Like Wave, however, all QuickBooks Online plans are web-based and accessible wherever you have internet.
- Aside from bank reconciliations, you can print checks in QuickBooks.
- This is thanks to its impressive feature catalog and reliable customer support center, which even outperform Xero and FreshBooks, the industry titans.
- There’s also a preview feature, so you can see how the invoice will look to your customers.
Inventory management
Comparing Wave vs. QuickBooks, Wave stands out in terms of pricing and simplicity, making it a great option for very small businesses, as well as those just starting out and those on a strict budget. With this Wave accounting vs. QuickBooks guide, we’ll help you answer those questions. We’ll explore everything both Wave and QuickBooks have subscription billing vs one to offer and highlight their most notable differences—so that you’ll have all of the information you need to decide which is right for you. If there are ever book reconciling items that have not yet been recorded, you can save the reconciliation for later while you add missing book entries.
Unlimited invoicing
These are great for service-based businesses because QuickBooks lets users create invoices from estimates or quotes. Wave accounting is web-based, meaning once you’ve created your account (no credit card required), you have access to the software wherever you have internet. Wave offers you core bookkeeping and accounting functionalities, as well as provides you the ability to customize your platform with free and paid add-ons to expand your capabilities. For one thing, QuickBooks Payroll has (you guessed it) more features. Automatic payroll runs mean you don’t have to worry about missing a payroll tax deadline or distributing paychecks late.
I only had to keep track of my ice cream bucket with my business, but if you sell a product, you’ll probably have a bit more to organize. To access the feature, you have to turn on a setting under Sales to allow inventory tracking, which I learned through a demo video. After that, you can input all your products or services and have the option to add pictures, stock quantity, vendor information, and more. Wave Money is a free business bank account that integrates with your Wave account for easy bookkeeping and faster payments.