Comparison · US and Canadian prices checked on official pages, 19 October 2026
Zoho Books vs Wave 2026: Which Free Accounting Plan Is Better?
Disclosure: The Zoho Books button in this comparison is an affiliate link (marked “partner link”). If you click through and buy, we may earn a commission at no extra cost to you. We don’t have an affiliate relationship with Wave, and we’ve held both to the same evidence: their official pricing pages and help centres. Learn more.
Quick verdict
Both free plans are genuinely free, and neither imports bank transactions automatically. You’ll pay about the same to add that: Wave Pro is US$19 a month, and Zoho Books Standard is US$20 (US$15 billed annually). Choose Wave if you’re a US or Canadian sole proprietor who wants unlimited invoices for $0 whatever your revenue. Choose Zoho Books if you want payment reminders and an accountant login on the free plan, 3 users on Standard, or a clear path to inventory, projects and multi-currency. Zoho’s free plan stops once US revenue goes over $50,000 a year.
Prices are regular prices from each provider’s official page, read on 19 October 2026. Wave is only sold in the US and Canada, so this comparison covers those two countries. For other options, see our small business accounting software comparison.
The free plans, side by side
| Wave Starter ($0) | Zoho Books Free ($0) | |
|---|---|---|
| Who it’s for | US and Canadian businesses | Any country with a Zoho edition (US: revenue under $50K a year) |
| Invoices | Unlimited estimates, invoices and bills | Up to 1,000 invoices and 1,000 expenses a year |
| Users | Adding users is listed as a Pro feature | 1 user + 1 accountant |
| Automatic bank feeds | No (Pro) | No (Standard); statement import and bank reconciliation included |
| Payment reminders | Automated reminders on Pro | Included |
| Receipt capture | Add-on: $8/month or $72/year | 50 autoscans a month |
| Support | Live chat and email with a paid add-on | Email (weekdays, US) |
| Free for how long | No time or revenue limit stated | While revenue stays under $50K a year (US) |
Paid plans and prices
| Market | Wave | Zoho Books (monthly, with annual in brackets) |
|---|---|---|
| United States | Starter $0 · Pro $19/month or $190/year | Free · Standard $20 ($15) · Professional $50 ($40) · Premium $70 ($60) · Elite $150 ($120) · Ultimate $275 ($240) |
| Canada | Starter C$0 · Pro C$25/month or C$250/year | Free · Standard C$20 (C$15) · Professional C$35 (C$30) · Premium C$50 (C$40) · Elite C$200 (C$165) · Ultimate C$350 (C$290) |
Wave has one paid plan, priced per business. Zoho has five tiers, so you can grow without switching software. Over a year at the cheapest paid tier: Wave Pro $190, Zoho Standard $180 billed annually. In Canada it’s C$250 against C$180.
Bank feeds: the upgrade both push you to
This is the detail most comparisons miss. Neither free plan pulls in bank transactions automatically. Wave adds bank imports (through Plaid) on Pro, and Zoho adds bank and credit card feeds on Standard. Zoho’s free plan does let you import and auto-forward bank statements and reconcile them. If you’re happy to upload a statement once a month, either free plan works. If you want transactions to flow in daily, budget about US$15–20 a month either way.
When you grow: users, inventory, payroll
- Users: Zoho Standard includes 3 users, Professional 5, and extra users are $3 a month. Wave lists adding users as a Pro feature without a stated cap.
- Inventory, projects, multi-currency: Zoho adds all three on Professional (US$50). Wave has no inventory or projects. It does handle foreign-currency invoices and records exchange gains and losses, according to its help centre.
- Payroll (US): Wave Payroll is $40 a month + $6 per employee + $6 per contractor paid. Zoho Payroll is a separate product at $29 a month + $5 per employee (billed annually). In Canada, Wave Payroll is C$25 + C$6 per employee (not available in Quebec).
- Bookkeeping service: Wave Advisors provides a dedicated bookkeeper from $149 a month.
Payments and other costs
Wave earns money on payments. US card rates are 2.9% + $0.60 (3.4% + $0.60 for Amex), and Pro waives the $0.60 on the first 10 transactions each month. Wave also charges for receipts ($8 a month on Starter) and payroll. Zoho’s costs sit mainly in the plan tier and add-ons: extra users $3/month, document autoscans $8 per 50, extra locations $10, BillPay $59.
Four worked examples
Our calculations from US list prices:
| Situation | Wave | Zoho Books |
|---|---|---|
| Freelancer, $40K revenue, monthly statement upload | Starter: $0 | Free: $0 |
| Same, but $80K revenue | Starter: $0 | Standard: $180/year (free plan ends above $50K) |
| Wants automatic bank feeds | Pro: $190/year | Standard: $180/year |
| 3 employees on payroll + bank feeds | Pro $19 + payroll $40 + 3 × $6 = $77/month | Standard $15 + Zoho Payroll $29 + 3 × $5 = $59/month (annual billing) |
Who should choose which
Choose Wave if you’re a US or Canadian sole proprietor or side business that wants to invoice for free with no revenue cap, and you don’t need inventory. See our Wave review.
Choose Zoho Books if you want reminders and an accountant on the free plan, several users on a cheap paid plan, or room to add inventory, projects and multi-currency later, or if you’re outside North America. See our Zoho Books review.
Try Zoho Books free (partner link, opens in a new tab) See Wave pricing (opens in a new tab)
Comparing more free options? See our best free accounting software guide and FreshBooks vs Zoho Books.
FAQ
Is Wave or Zoho Books better for free accounting?
Wave suits US and Canadian sole proprietors who want unlimited free invoices with no revenue cap. Zoho Books’ free plan adds payment reminders and an accountant login, but in the US it’s limited to businesses with revenue under $50,000 a year and 1,000 invoices a year.
Do Zoho Books and Wave free plans include bank feeds?
No. Wave adds automatic bank imports on Pro (US$19 a month), and Zoho Books adds bank and credit card feeds on Standard (US$20, or US$15 billed annually). Zoho’s free plan does include statement import and bank reconciliation.
Can I use Wave outside the US and Canada?
No. Wave is only available to businesses in the United States and Canada. Zoho Books has 18 country editions plus a Global edition, each with a free plan.
Which is cheaper with payroll?
In our US example for 3 employees, Zoho Books Standard plus Zoho Payroll came to $59 a month (billed annually), against $77 for Wave Pro plus Wave Payroll.
