Xero vs Wave (2026)
A side-by-side comparison of pricing, features and real-world ratings to help you choose between Xero and Wave.
| Feature | Xero | Wave |
|---|---|---|
| Category | Accounting | Accounting |
| Starting Price | $15/mo | Free |
| Free Trial | 30-day trial | No |
| G2 Rating | 4.3 / 5 | 4.3 / 5 |
| Best For | Small Teams | Freelancers |
| Reviews | 3,000 | 1,700 |
Key differences between Xero and Wave
Wave offers a free plan you can start on today, while Xero requires a paid subscription (after its 30-day trial). If budget is the deciding factor, that difference matters more than any feature.
User sentiment favors Xero: it averages 4.4/5 across 3,000 reviews versus 4.3/5 for Wave (1,700 reviews).
Xero leans into bank reconciliation and invoicing, while Wave puts its weight behind invoicing and accounting — pick based on which of those you will actually use weekly.
Their sweet spots differ: Xero is strongest for small teams, whereas Wave is built with freelancers in mind.
🏆 Our Verdict
Xero is our overall pick, scoring 4.4/5 across 3000 reviews. That said, Wave remains a great option if you prioritise freelancers. Read the breakdown below before you decide.
Head to head
Xero
Xero approaches accounting with software-company sensibilities: clean design, unlimited users on every plan, and daily bank feeds that make reconciliation almost enjoyable. Strong in the UK, Australia and New Zealand, it is the natural QuickBooks alternative for teams that value collaboration — bookkeeper, founder and advisor all in the file at once. US payroll requires a Gusto integration, and phone support is deliberately absent.
Xero
Beautiful cloud accounting for small business.
Visit Xero →Pros
- ✓Clean UI
- ✓Unlimited users
- ✓Strong integrations
Cons
- ✗Payroll limited by region
- ✗Phone support sparse
Wave
Wave's core promise is radical for the category: real double-entry accounting and unlimited invoicing for exactly zero dollars, funded by payment processing and payroll fees. For freelancers and side businesses with simple books, it covers surprisingly much. The boundaries are clear — US/Canada only, basic reporting, no inventory, and support prioritizes paying users — but as a starting point it is unbeatable on price.
Wave
Free accounting and invoicing for the self-employed.
Visit Wave →Pros
- ✓Free core features
- ✓Simple
- ✓Good for freelancers
Cons
- ✗Paid payments/payroll
- ✗Limited scaling
How we compare tools
Every comparison on SaaS Compare follows the same recipe: we aggregate verified user ratings from G2 and Capterra, track published pricing (including free plans and trial terms), and weigh the practical pros and cons reported by real users. We refresh this data on a regular schedule and never let affiliate partnerships influence a verdict — the same criteria decide every matchup, including this Xero vs Wave comparison.
Frequently asked questions
Is Xero better than Wave?
Based on aggregated ratings, Xero edges ahead with a 4.4/5 score. The right choice still depends on your budget and use case — Xero suits small-teams, while Wave is strong for freelancers.
Which is cheaper, Xero or Wave?
Xero starts at $15/mo and Wave starts at a free plan.
Does Xero or Wave offer a free trial?
Xero: 30-day trial. Wave: no free trial.
What do users say about Xero and Wave?
Xero averages 4.4/5 from 3,000 reviews (G2: 4.3/5, Capterra: 4.4/5). Wave averages 4.3/5 from 1,700 reviews (G2: 4.3/5, Capterra: 4.4/5). Ratings aggregate thousands of verified users, so small gaps are meaningful at this scale.
When should I pick Wave instead?
Despite the overall verdict, Wave is the better fit when free core features and simple matter most to your workflow, particularly for freelancers.