Accounting · Head to head
Wave vs Xero: which is better?
Short answer
Wave costs less in the first year ($228 vs $324). Pick Wave for free invoicing for freelancers; pick Xero for unlimited-user cloud accounting.
| Fact | Wave | Xero | Edge |
|---|---|---|---|
| Best for | Free invoicing for freelancers | Unlimited-user cloud accounting | — |
| Free plan | Yes, Starter: unlimited invoices | No, 30-day trial | Wave |
| Entry plan | Pro: $19 / mo | Early: $27 / mo | Wave |
| Mid plan | Pro: $19 / mo | Growing: $59 / mo | Wave |
| Top plan | Pro: $19 / mo | Established: $97 / mo | Wave |
| 1st year | $228 | $324 | Wave |
| Platforms | Web, iOS, Android | Web, iOS, Android | Tie |
Edge = the better published number or limit; we do not test the tools hands-on.
Which is cheaper, Wave or Xero?
Wave costs less in the first year ($228 vs $324).
| 1st year | Wave | Xero |
|---|---|---|
| Entry | $228 | $324 |
| Mid | $228 | $708 |
| Top | $228 | $1,164 |
Which has the better free plan, Wave or Xero?
Wave: Yes, Starter: unlimited invoices.
Should you pick Wave or Xero?
Pick Wave if
- you want free invoicing for freelancers
- the free plan is enough (Starter: unlimited invoices)
Pick Xero if
- you want unlimited-user cloud accounting
- you can pay $27 / mo from day one
Sources
| Vendor page | URL | Checked |
|---|---|---|
| Wave pricing | waveapps.com/pricing | 27 Oct 2026 |
| Xero pricing | xero.com/us/pricing/ | 27 Oct 2026 |
Prices in USD as published by each vendor, billed yearly where offered. How we compare