You can also compare cost estimates to actual costs, which is useful for contractors. Unfortunately, Wave has no project accounting system, although it does allow you to create an estimate. Both platforms have good invoicing capabilities, but FreshBooks offers more optimization options. Not only does it have more templates to choose from, but it also offers advanced functions like customizing payment reminders and late fees by clients. Neither can reconcile transactions with timing differences, including outstanding checks that haven’t yet been cleared by your bank. Both also lack options for combining multiple checks in a single deposit.
Freshbooks Offers Much More Than Invoicing to Help With Your Day-to-Day Accounting
Both FreshBooks and Xero have a free 30-day trial so that you can check out the features before committing to a contract. Xero even allows you to cancel within a month, not locking you into a long-term contract if you decide it isn’t for you after a few months. The offers that appear on the website are from software companies from which CRM.org receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all software companies or all available software companies offers. Wave provides its native full-service Wave Payroll, available in 14 states and Canada.
This is due to FreshBooks’ inventory tools on all plans (Wave offers none on any of its plans), which are key for tracking retail sales. Wave’s lower price point and deeper features make it the top choice for smaller operations that need a lot of bang for their buck – as long as they aren’t retailers. Our researchers have tested and ranked all the top accounting software options.
FreshBooks Customer Service and Support
FreshBooks is a paid service operating with a subscription model. The lowest price tier costs $4.25 per month for your first three months, then $17 per month thereafter, but is limited to five clients. For an extra cost, the Plus plan offers a more robust selection of features and is better suited for solo business owners who have more than five clients.
Keep Track of Projects
- On the other hand, FreshBooks has limitations for larger companies or teams.
- FreshBooks is the best accounting solution for retail, while Wave is the best for side businesses on a budget.
- Additionally, Wave Payroll’s full-service plan, which calculates and remits payroll taxes on your behalf, is limited to 14 states.
- However, it connects with thousands of apps via Zapier, such as PayPal, Square, Stripe, Etsy, HubSpot, Slack, Google Sheets, and Pipedrive.
- The Plus plan is $30 per month, and adds automations for invoices, late fees, and late payment reminders, with a billable client cap of 50.
Clients from any country can easily pay you in virtually any currency.
The QuickBooks accounting service offers better features and add-ons than either Wave or FreshBooks, even though Wave does still have the best pricing overall. Plus, the right plan (QuickBooks Advanced) will net you 24/7 email and phone support, making it easy to solve any problems. FreshBooks and Wave have a lot of similar features despite their different pricing structures. FreshBooks has a definite edge as it provides more options to invoice and bill customers, track employee time, and track actual versus estimated project costs. However, if you only need basic accounting features, such as income and expense tracking and invoicing, you may do well with Wave.
Everything you need to confidently run your business.
Support network refers to a community of software users that can extend professional help to businesses. Having an independent software expert perform the bookkeeping is good for overall ease of use. Lastly, our expert opinion score is our subjective rating based on our experience in trying the software. This section focuses more on first-time setup and software settings.
It’s simple to use, relatively affordable and it makes it easy to stay organized. On the other how to calculate net sales hand, FreshBooks has limitations for larger companies or teams. Adding a team member to your account will cost an extra $11 per month, for example, and the lower-tier plans have a limit to how many clients you can have. FreshBooks is reasonably priced in the accounting software realm. This means that the Lite plan is only $4.25 per month initially.