FreshBooks vs Wave for small businesses in the US and Canada
FreshBooks and Wave both handle invoices, online payments, expenses and bookkeeping for small businesses, and both sell payroll as an add-on. This guide compares them from their own websites, read on November 6, 2026: pricing, limits, payments and fees, payroll and countries, with a source for every statement and the country each one applies to.
Last checked: November 6, 2026. Prices are the list prices shown that day; vendors often run temporary discounts.
Choose FreshBooks if
- You bill for your time: unlimited time tracking is on every plan, and an estimate or proposal becomes a project in one click.[1]
- You want clients to sign online: proposals, e-signatures and client retainers start on Plus, at $43 a month in the US (list price, billed monthly).[1]
- You want bank transactions imported on the entry plan: automated bank import and a client portal are included from Lite.[1]
- Your clients want several ways to pay: cards, Apple Pay, Google Pay and buy now, pay later (Affirm and Klarna in the US and Canada, Afterpay in the US), plus ACH bank transfers for US businesses.[2]
Choose Wave if
- You want to start for free: the Starter plan has unlimited estimates, invoices, bills and bookkeeping records.[3]
- You want one flat price for the business: Pro is $19 USD or $25 CAD a month, billed per business rather than per owner.[3]
- You run payroll in Canada: Wave Payroll covers every province and territory except Quebec and handles your CRA remittances, from $25 CAD a month plus $6 per active employee.[4]
- You would like a bookkeeper to do the books: Wave Advisors starts at $149 a month in the US and $199 in Canada.[3]
FreshBooks vs Wave: side by side
| FreshBooks | Wave | |
|---|---|---|
| Price model | Lite $23, Plus $43, Premium $70 USD a month (list prices), set by number of billable clients[1] | Starter free; Pro $19 USD a month or $190 a year, per business[3] |
| Prices in Canada | Lite $26, Plus $42, Premium $72 CAD a month (list prices)[5] | Pro $25 CAD a month or $250 CAD a year[3] |
| Free plan or trial | 30-day free trial without a card; 30-day money-back guarantee[1] | Free Starter plan; upgrade to Pro when you choose[3] |
| Users | Team members $11 a month each (US); Select includes 2[1] | Admin, editor and viewer users with Pro[3] |
| Invoices and estimates | Unlimited, with recurring invoices, deposits and scheduled late fees on every plan[1] | Unlimited on both plans; deposits through estimates when online payments are on[3] |
| Payment reminders | Automated on every plan[1] | Sent 3, 7 and 14 days after the due date, with Pro or online payments[3] |
| Time tracking | Unlimited on every plan[1] | Through apps such as MinuteDock or Swell Time Tracking, with Pro[6] |
| Card fees | 2.9% + $0.30 per transaction with FreshBooks Payments (US pricing page)[1] | 2.9% + $0.60 (Amex 3.4% + $0.60); on Pro, no $0.60 on the first 10 each month[7] |
| Bank payments | ACH bank transfers at 1%, with US banks[1] | ACH/EFT bank payments at 1%, $1 minimum[7] |
| Where it works | FreshBooks Payments for businesses in the US and Canada; Stripe Standard elsewhere[2] | Only businesses located in the US and Canada; US territories are not supported[8] |
| Currencies | Clients pay from over 190 countries in 135+ currencies with FreshBooks Payments[2] | Business currency USD or CAD, chosen at setup and fixed[9] |
| Bookkeeping | Bank import on every plan; double-entry reports and bank reconciliation from Plus[1] | Double-entry accounting; automatic bank imports with Pro[10] |
| Payroll in the US | FreshBooks Payroll add-on: $40 a month plus $6 per user[1] | $40 USD a month plus $6 per active employee and $6 per contractor paid[4] |
| Payroll in Canada | PaymentEvolution Payroll add-on, through a FreshBooks product consultant[5] | $25 CAD a month plus $6 per active employee and $6 per contractor paid; not in Quebec[4] |
| Mobile apps | iPhone and Android, with mileage tracking[11] | iOS and Android[12] |
| AI assistants (MCP) | An MCP connector, listed in Claude's connector directory[13] | None among the integrations listed on its site[6] |
Pricing in detail
FreshBooks' US list prices are Lite $23, Plus $43 and Premium $70 a month billed monthly, plus a custom Select plan. On November 6, 2026 they were shown with 80% off the first 4 months, and yearly billing took an extra 10% off.[1]
FreshBooks plans are set by billable clients: 5 on Lite, 50 on Plus, unlimited on Premium and Select, and archived clients count toward the limit. Team members cost $11 per user a month.[1]
In Canada, FreshBooks lists Lite at $26, Plus at $42 and Premium at $72 CAD a month, with team members at $13 per user a month.[5]
Wave's Starter plan is free. Pro costs $19 USD a month or $190 a year in the US, and $25 CAD a month or $250 a year in Canada, per business: three businesses on Pro in one account pay three times.[3]
Wave Pro adds automatic bank imports and categorization, unlimited receipt capture and automated late payment reminders. On Starter, receipt capture is an add-on at $8 a month in the US or $11 in Canada.[3]
Payments and fees
FreshBooks' US pricing page lists FreshBooks Payments at 2.9% + $0.30 per credit card transaction and 1% for ACH bank transfers.[1]
FreshBooks Payments, powered by Stripe, is only for businesses in the US and Canada: ACH is for US businesses and clients, Afterpay for US businesses, and businesses elsewhere can use Stripe Standard instead.[2]
In Canada, FreshBooks lists cards, Apple Pay, Google Pay, pre-authorized debit and buy now, pay later as ways for clients to pay.[5]
Wave charges 2.9% + $0.60 per Visa, Mastercard or Discover transaction and 3.4% + $0.60 per Amex transaction; on Pro, the first 10 card transactions each month skip the $0.60. Discover is for US customers only.[7]
Wave's bank payments (ACH/EFT) cost 1% per transaction, with a $1 minimum. Online payments need an approval that includes identity verification and a credit review; card payouts take 1 to 2 business days and bank payouts 1 to 7.[7]
Payroll in the US and Canada
FreshBooks Payroll, powered by Gusto, is a paid add-on for businesses in the United States. It pays W-2 employees, pays contractors only when at least one W-2 employee is also paid, and pays and files federal and state payroll taxes.[14]
FreshBooks' US pricing page lists FreshBooks Payroll at $40 a month plus $6 per user.[1]
FreshBooks' Canadian pricing page lists PaymentEvolution Payroll as the payroll add-on, with details from a product consultant.[5]
Wave Payroll in the US costs $40 USD a month plus $6 per active employee and $6 per independent contractor paid. Wave pays and files federal and state payroll taxes in all 50 states, except 1099 filings.[4]
Wave Payroll in Canada costs $25 CAD a month plus $6 per active employee and $6 per contractor paid, in every province and territory except Quebec, with CRA remittances and T4 and T4A slips. Payroll can be tried free for 30 days.[4]
Countries and currencies
Wave is available only to businesses located in the United States and Canada; US territories are not supported.[8]
A Wave business uses USD or CAD, chosen at setup. It cannot be changed later: a business that moves to another country starts a new Wave business.[9]
FreshBooks Payments accepts payments from clients in over 190 countries and 135+ currencies, and offers SEPA bank transfers on EUR invoices.[2]
Bookkeeping and AI
Every FreshBooks plan imports bank transactions automatically; double-entry accounting reports, bank reconciliation and accountant access start on Plus.[1]
On Plus and Premium, FreshBooks lets you invite up to 10 accountants per business at no extra cost.[11]
Wave uses double-entry accounting. With Pro, it imports, merges and categorizes bank transactions through Plaid, which does not support every bank.[10]
Wave connects directly to apps such as Etsy, Amazon (US only), GoHighLevel and Google Sheets, and to Shopify, Stripe and PayPal through Make.com on Pro. Its integrations page lists no AI assistant or MCP connector.[6]
FreshBooks announced an MCP connector on September 25, 2026: you find FreshBooks in Claude's connector directory and link your account, with no setup in FreshBooks.[13]
Questions
- Is Wave free, and is FreshBooks?
- On November 6, 2026, Wave's Starter plan was free, with unlimited estimates, invoices, bills and bookkeeping records; card payments still carry a fee. FreshBooks showed paid plans from $23 a month in the US ($26 CAD in Canada), with a 30-day free trial without a card and a 30-day money-back guarantee.
- Is FreshBooks or Wave cheaper?
- It depends on what you need. On November 6, 2026, Wave Pro cost $19 USD or $25 CAD a month per business. FreshBooks' US list prices were $23 for 5 billable clients, $43 for 50 and $70 for unlimited clients, plus $11 a month for each team member, shown with 80% off the first 4 months. Card fees, payroll and add-ons also differ, so compare them for your own volume.
- Which one has payroll in Canada?
- Wave Payroll works in every Canadian province and territory except Quebec, at $25 CAD a month plus $6 per active employee and $6 per contractor paid. FreshBooks Payroll, powered by Gusto, is for US businesses; FreshBooks' Canadian pricing page lists PaymentEvolution Payroll as an add-on, through a product consultant.
- Can I use FreshBooks or Wave outside the US and Canada?
- Wave is available only to businesses in the US and Canada. FreshBooks Payments is also only for businesses in the US and Canada, and FreshBooks says businesses elsewhere can use Stripe Standard to take online payments instead.
- What do FreshBooks and Wave charge to take card payments?
- FreshBooks' US pricing page lists 2.9% + $0.30 per card transaction and 1% for ACH. Wave lists 2.9% + $0.60 per card transaction (3.4% + $0.60 for Amex), without the $0.60 on the first 10 card payments each month on Pro, and 1% for bank payments with a $1 minimum. Check both providers' current fees before you decide.
- Can I connect Claude to FreshBooks or Wave?
- FreshBooks has an MCP connector in Claude's connector directory, announced on September 25, 2026. Wave listed no AI assistant or MCP connector among its integrations on November 6, 2026.
Sources (accessed November 6, 2026)
- [1] FreshBooks pricing (US)
- [2] FreshBooks support: accept online payments with FreshBooks Payments
- [3] Wave pricing
- [4] Wave payroll
- [5] FreshBooks pricing (Canada)
- [6] Wave integrations
- [7] Wave payments
- [8] Wave help: create a Wave account
- [9] Wave help: why can't I change my business currency?
- [10] Wave accounting
- [11] FreshBooks home page
- [12] Wave invoicing
- [13] FreshBooks press release: MCP connector
- [14] FreshBooks support: what is FreshBooks Payroll?
Product names are trademarks of their owners. Clodou is not affiliated with them.