Xero vs Wave
A head-to-head comparison for 2026 — pricing, features, and which is better for different use cases.
Quick Comparison
| Feature | Xero | Wave |
|---|---|---|
| Price | $15/mo | Free |
| Free Plan | 30-day trial | Yes (full product) |
| Payroll | Built-in (Gusto add-on US) | Add-on ($40/mo) |
| Invoicing | Yes | Yes |
| Bank Feeds | Yes | Yes |
| Best For | Global / multi-currency | Solo businesses + side hustles |
Xero — Overview
Xero is the global alternative to QuickBooks with a cleaner interface and better multi-currency support. Unlimited users on every plan (QuickBooks charges per user for payroll). Strong in the UK, Australia, and New Zealand.
Wave — Overview
Wave is genuinely free accounting software — not a trial, not freemium. Invoicing, receipt scanning, bank connections, and financial reports at zero cost. Revenue comes from optional payment processing and payroll add-ons.
Key Differences
Premium clean vs free functional. Xero at $15/mo offers unlimited users, multi-currency, and 1,000+ integrations with a beautiful interface. Wave is free with solid basics but fewer integrations and a less polished experience. Xero when you can invest $15/mo for a better tool; Wave when every dollar matters.
The Verdict
Choose Xero for a polished accounting experience with unlimited users. Choose Wave for free accounting that covers the basics.