Wave vs Zoho Invoice: two free invoicing tools compared
Wave and Zoho Invoice both let a small business send quotes and invoices and take online payments without paying a subscription. This guide compares them from their own websites, read on November 6, 2026: what each free plan includes, its limits, payment fees, the US and Canada, bookkeeping and AI, with a source for every statement.
Last checked: November 6, 2026. Prices are the list prices shown that day; vendors often run temporary discounts.
Choose Wave if
- You want your books in the same free tool: Starter includes unlimited bookkeeping records alongside unlimited estimates, invoices and bills.[1]
- You want payments from the same company: Wave processes cards, bank payments and Apple Pay from the invoice, after an approval.[2]
- You run payroll: Wave Payroll starts at $40 USD a month in the US and $25 CAD in Canada (outside Quebec), plus $6 per active employee.[3]
- You want bank transactions imported for you: Pro connects your bank through Plaid and categorizes transactions, for $19 USD or $25 CAD a month.[1]
Choose Zoho Invoice if
- You want the whole product at $0: Zoho describes Zoho Invoice as forever-free, with up to 500 invoices a year.[4]
- You want clients to log in: a customer portal lets them view and pay invoices and respond to quotes.[5]
- You want to pick your payment gateway: Stripe, PayPal, Square, Authorize.net and others connect, and Zoho adds no fee of its own.[6]
- You bill for your time: logging time and managing projects are included, for up to 3 projects.[4]
Wave vs Zoho Invoice: side by side
| Wave | Zoho Invoice | |
|---|---|---|
| Price | Starter free; Pro $19 USD or $25 CAD a month, per business[1] | $0, described as forever-free[4] |
| Free plan limits | Unlimited estimates, invoices, bills and bookkeeping records[1] | 2 users, 3 projects and 500 invoices a year, with Zoho branding[4] |
| Users | Admin, editor and viewer users with Pro[1] | Up to 2; Zoho Billing's Premium plan has 10[7] |
| Countries | Businesses in the US and Canada only[8] | Editions for the US, Canada, the UK, Australia, India and other countries[4] |
| Currencies | USD or CAD, chosen at setup and fixed[9] | No multi-currency transactions; Zoho lists them under Zoho Billing[7] |
| Quotes | Unlimited estimates, with deposits when online payments are on[1] | Quotes converted into invoices once approved[5] |
| Recurring invoices | With Pro or online payments, including automatic card payments[10] | Generated and sent on a schedule[5] |
| Payment reminders | Sent 3, 7 and 14 days after the due date, with Pro or online payments[1] | Automated payment reminders[4] |
| Online payments | Processed by Wave: cards, ACH/EFT bank payments and Apple Pay, after approval[2] | Through a gateway you connect: Stripe, PayPal, Square, Authorize.net and others[6] |
| Payment fees | Cards 2.9% + $0.60 (Amex 3.4% + $0.60); bank payments 1%, $1 minimum[2] | No Zoho fee; your gateway charges its own[6] |
| Time tracking | Through apps such as MinuteDock or Swell Time Tracking, with Pro[11] | Included, for up to 3 projects[4] |
| Bookkeeping | Double-entry accounting; automatic bank imports with Pro[12] | Not included: banking, inventory and journal entries are in Zoho Books[13] |
| Apps | iOS and Android[10] | Android, iOS, Windows and Mac[5] |
| Support | Live chat and email with Pro or any add-on, weekdays 9 AM to 4:45 PM Eastern[1] | Free email and phone support, 24 hours a day, 5 days a week[4] |
| AI assistants (MCP) | None among the integrations listed on its site[11] | Zoho MCP for ChatGPT, Claude, Cursor and VS Code[14] |
What the free plans include
Wave's Starter plan is free, with unlimited estimates, invoices, bills and bookkeeping records, the option to accept online payments, and invoicing from the mobile app.[1]
Zoho Invoice costs $0 and allows up to 2 users, 3 projects, 500 invoices a year and two organizations per account; it carries "Powered by Zoho Invoice" branding.[4]
Zoho says it shows no ads and does not sell your information.[4]
Zoho Invoice includes quotes, recurring invoices, sales receipts, payment reminders, expenses, time tracking, a customer portal and reports.[5]
When you outgrow the free plan
Wave Pro costs $19 USD a month or $190 a year in the US, and $25 CAD a month or $250 a year in Canada. It adds bank imports through Plaid, unlimited receipt capture and automated late payment reminders.[1]
Wave Advisors, a bookkeeping service from Wave's in-house team, starts at $149 a month in the US and $199 in Canada.[1]
For more users, more than 500 invoices, retainer invoices, multi-currency transactions or custom branding, Zoho points to Zoho Billing, whose Premium plan has 10 users.[7]
For bank feeds, inventory and journal entries, Zoho points to Zoho Books: your data stays in the same Zoho account, you can try Books' Premium plan for 14 days, and you can go back to Zoho Invoice.[13]
Payments and fees
Wave charges 2.9% + $0.60 per Visa, Mastercard or Discover transaction (Discover in the US only) and 3.4% + $0.60 per Amex transaction; on Pro, the first 10 card transactions each month skip the $0.60. Bank payments (ACH/EFT) cost 1%, with a $1 minimum.[2]
Wave's 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.[2]
Zoho Invoice connects gateways such as Stripe, PayPal, Razorpay, Square, Authorize.net, Braintree and Verifone for cards, e-wallets and ACH. Zoho adds no fee; the gateway may charge its own.[6]
Zoho Invoice can also send payment links for one-off payments, auto-charge customers' credit cards for recurring invoices, and handle overpayments with refunds or credit notes.[6]
In the US and Canada
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, and the currency cannot be changed later.[9]
For businesses outside the US and Canada, Wave's site points to Zoho Books as its partner, free for 60 days when you sign up through Wave.[15]
Zoho Invoice is free for businesses in Canada too, with the same limits; its Canadian site lists sales tax on invoices and payments by card, e-wallet and ACH.[16]
Wave Payroll costs $40 USD a month plus $6 per active employee and $6 per contractor paid in the US, and $25 CAD plus the same per-person fees in Canada, in every province and territory except Quebec.[3]
AI and MCP
Zoho MCP connects Zoho Invoice to ChatGPT, Claude, Cursor and VS Code: you create a server in the Zoho MCP console, choose which Zoho Invoice actions it offers, and add its URL to your AI tool.[14]
AI Insights from Zia, Zoho's own AI, point out likely payment delays, set up follow-ups and draft ready-to-send emails.[5]
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.[11]
Questions
- Are Wave and Zoho Invoice really free?
- On November 6, 2026, both had a free option. Wave's Starter plan was free, with unlimited estimates, invoices, bills and bookkeeping records, and Pro cost $19 USD or $25 CAD a month. Zoho Invoice cost $0 and Zoho described it as forever-free, within its limits. Online card payments carry fees in both: Wave's own, or those of the gateway you connect to Zoho Invoice.
- What are the limits of Zoho Invoice's free plan?
- Zoho's pricing page lists up to 2 users, 3 projects, 500 invoices a year and two organizations per account, with "Powered by Zoho Invoice" branding. For more, Zoho points to Zoho Billing (10 users on Premium, more invoices, retainer invoices, multi-currency) or Zoho Books (bank feeds, inventory, journal entries).
- Can I use Wave or Zoho Invoice in Canada?
- Yes, both. Wave is only for businesses in the US and Canada, with USD or CAD as the business currency; Pro costs $25 CAD a month there, and Wave Payroll works everywhere except Quebec. Zoho Invoice is free for businesses in Canada, with the same limits as in the US, and also has editions for other countries.
- Which one does bookkeeping?
- Wave includes double-entry bookkeeping on its free plan, and Pro adds bank imports through Plaid. Zoho Invoice does not include banking, inventory or journal entries; Zoho points to Zoho Books for those, inside the same Zoho account.
- What do Wave and Zoho Invoice charge to take payments?
- 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. Zoho Invoice adds no fee of its own; the gateway you connect, such as Stripe, PayPal or Square, charges its own fees. Check the current fees before you decide.
- Can I connect Claude or ChatGPT to Wave or Zoho Invoice?
- Zoho Invoice connects to ChatGPT, Claude, Cursor and VS Code through Zoho MCP, a server you set up in the Zoho MCP console. Wave listed no AI assistant or MCP connector among its integrations on November 6, 2026.
Sources (accessed November 6, 2026)
- [1] Wave pricing
- [2] Wave payments
- [3] Wave payroll
- [4] Zoho Invoice pricing (US)
- [5] Zoho Invoice home page (US)
- [6] Zoho Invoice: accept online payments
- [7] Zoho Invoice FAQ: upgrading from Zoho Invoice to Zoho Billing
- [8] Wave help: create a Wave account
- [9] Wave help: why can't I change my business currency?
- [10] Wave invoicing
- [11] Wave integrations
- [12] Wave accounting
- [13] Zoho Invoice to Zoho Books
- [14] Zoho Invoice help: connect with AI models using Zoho MCP
- [15] Wave: Wave and Zoho partnership
- [16] Zoho Invoice pricing (Canada)
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