Wave vs Xero: which is better for your business?
Wave and Xero are both Accounting tools we’ve reviewed against their official websites and pricing pages. Here’s how they differ on what each provider says about features, pricing and fit — there’s no single winner, so use this to decide which suits how your team works.
Desk research — not hands-on tested
| Attribute | Wave | Xero |
|---|---|---|
| Overview | Accounting and invoicing software designed for freelancers and very small businesses. | Online accounting software for invoices, bills, bank reconciliation and reporting. |
| Best for | Freelancers and micro-businesses keeping costs low. | Small businesses wanting straightforward cloud bookkeeping. |
| Key features |
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| Limitations |
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| Pricing model | Free Starter plan plus paid Pro plan | Monthly subscription tiers |
| Free plan | Confirmed | Not verified |
| Team sizes | Solo, Small teams | Solo, Small teams, Mid-sized |
| Capabilities | Invoicing, Reporting | Invoicing, Reporting |
| Official pricing | Wave pricing pageChecked 11 October 2026 | Xero pricing pageChecked 11 October 2026 |
Prices change often — always confirm on the provider’s pricing page. We don’t publish ratings or scores.
Choose Wave if…
- You are: freelancers and micro-businesses keeping costs low.
- Xero’s limitation matters to you: plans and features differ by country.
Choose Xero if…
- You are: small businesses wanting straightforward cloud bookkeeping.
- Wave’s limitation matters to you: some features and payments carry fees.
- Wave’s limitation matters to you: availability varies by country.
More on these tools
Other comparisons
Not sure yet? Tell us what you need and we’ll suggest a shortlist, or ask for a demo or help switching.