# Wave, Xero vs FreshBooks Comparison

| | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Star Rating** | 4.3 out of 5 | 4.4 out of 5 | 4.5 out of 5 | 
| **Total Reviews** | 322 | 1,572 | 973 | 
| **Largest Market Segment** | Small-Business (94.9% of reviews) | Small-Business (71.2% of reviews) | Small-Business (86.4% of reviews) | 
| **Entry Level Price** | $20-$35 per month | $13.00 Per Month | Starting at $2.30 Per Month | 

---
## Top Pros & Cons

### Wave

Pros:
- Ease of Use (11 reviews)
- Invoice Management (6 reviews)

Cons:
- Missing Features (5 reviews)
- Poor Customer Support (5 reviews)

### Xero

Pros:
- Ease of Use (843 reviews)
- Invoice Management (359 reviews)

Cons:
- Missing Features (311 reviews)
- Limited Options (167 reviews)

### FreshBooks

Pros:
- Ease of Use (154 reviews)
- Invoice Management (80 reviews)

Cons:
- Missing Features (57 reviews)
- Invoicing Issues (33 reviews)

---
## Ratings Comparison
| Rating | Wave | Xero | FreshBooks | 
|---|---|---|---|
  | **Meets Requirements** | 8.6 (258 reviews) | 8.7 (1232 reviews) | 8.8 (774 reviews) | 
  | **Ease of Use** | 8.9 (260 reviews) | 8.9 (1272 reviews) | 9.1 (875 reviews) | 
  | **Ease of Setup** | 8.8 (130 reviews) | 8.7 (958 reviews) | 9.2 (474 reviews) | 
  | **Ease of Admin** | 8.8 (114 reviews) | 8.7 (407 reviews) | 9.2 (337 reviews) | 
  | **Quality of Support** | 7.7 (170 reviews) | 8.3 (1139 reviews) | 9.2 (721 reviews) | 
  | **Has the product been a good partner in doing business?** | 8.5 (106 reviews) | 8.6 (401 reviews) | 9.2 (332 reviews) | 
  | **Product Direction (% positive)** | 8.0 (249 reviews) | 8.7 (1203 reviews) | 8.7 (768 reviews) | 

---
## Pricing

### Wave

#### Entry-Level Pricing

Plan:  Pay your staff 

Price: $20-$35 per month

Description: $20/month base fee in Canada + 44 states

$35/month base fee in California, Florida, New York, Texas, Illinois & Washington

$4 additional per employee added

Key Features:
- Includes direct deposit.
- Employee portal to check pay stubs and history.
- Perfect for salaried and hourly workers, full-time or part-time.

[Browse all 3 editions](https://www.g2.com/products/wave/pricing)

#### Free Trial

Yes

### Xero

#### Entry-Level Pricing

Plan: Starter / Early

Price: $13.00 Per Month

Description: Good for sole traders, new businesses, and the self-employed.

Key Features:
- Send quotes and 20 invoices
- Enter 5 bills
- Reconcile bank transactions

[Browse all 3 editions](https://www.g2.com/products/xero/pricing)

#### Free Trial

Yes

### FreshBooks

#### Entry-Level Pricing

Plan: Lite

Price: Starting at $2.30 Per Month

Description: For professionals with basic needs

Key Features:
- Send unlimited invoices to up to 5 clients
- Track unlimited expenses
- Send unlimited estimates

[Browse all 4 editions](https://www.g2.com/products/freshbooks/pricing)

#### Free Trial

Yes

---
## Features Comparison By Category

### Expense Management

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | 8.1/10 | 356 |
| **FreshBooks** | 7.4/10 | 150 |

#### Expense Reports

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Ease of Creating Expense Reports** | Not enough data | 8.6 (222 reviews) | 8.6 (106 reviews) | 
| **Bank / Credit Card Integration** | Not enough data | 8.9 (227 reviews) | 8.0 (100 reviews) | 
| **Smart Categorization** | Not enough data | 8.4 (205 reviews) | 7.6 (99 reviews) | 
| **Digital Receipt Management** | Not enough data | 8.5 (206 reviews) | 8.1 (98 reviews) | 
| **Employee Reimbursement** | Not enough data | 8.3 (186 reviews) | 7.1 (80 reviews) | 
| **Currency Conversions** | Not enough data | 8.2 (187 reviews) | 7.2 (87 reviews) | 
| **Credit Card Integration** | Not enough data | 8.6 (201 reviews) | 7.9 (90 reviews) | 

#### Agentic AI - Expense Management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Autonomous Task Execution** | Not enough data | 8.8 (80 reviews) | Not enough data | 
| **Cross-system Integration** | Not enough data | 9.0 (81 reviews) | Not enough data | 

#### Travel Management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Ease of Booking** | Not enough data | 7.5 (165 reviews) | 6.8 (79 reviews) | 
| **Itinerary Management** | Not enough data | 7.0 (157 reviews) | 6.5 (76 reviews) | 
| **Trip Notifications** | Not enough data | 6.6 (155 reviews) | 6.1 (71 reviews) | 
| **Advanced Integrations** | Not enough data | 7.4 (161 reviews) | 6.5 (72 reviews) | 

#### Client Invoicing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Invoice Creation and Delivery** | Not enough data | 9.1 (209 reviews) | 9.0 (136 reviews) | 
| **Electronic Payments** | Not enough data | 8.6 (187 reviews) | 8.4 (119 reviews) | 
| **Project Accounting / Revenue Recognition** | Not enough data | 8.4 (187 reviews) | 8.2 (124 reviews) | 

#### Generative AI - Expense Management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Image-to-Text** | Not enough data | Not enough data | Not enough data | 
| **Text Generation** | Not enough data | Not enough data | Not enough data | 
| **Text Summarization** | Not enough data | Not enough data | Not enough data | 

#### Mobile

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Receipt Capture** | Not enough data | 8.2 (187 reviews) | 8.2 (84 reviews) | 
| **Mileage Tracking** | Not enough data | 7.4 (160 reviews) | 6.9 (81 reviews) | 
| **Travel Itinerary and Flight Status Updates** | Not enough data | 6.9 (153 reviews) | 5.6 (73 reviews) | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Embedded AI / Machine Learning** | Not enough data | 8.0 (145 reviews) | 6.2 (63 reviews) | 
| **Complex Approval Workflow** | Not enough data | 8.0 (147 reviews) | 6.3 (66 reviews) | 

#### Administration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **PCI Regulation Compliant** | Not enough data | 8.2 (140 reviews) | 7.0 (63 reviews) | 

#### Administration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Business Tool Integration** | Not enough data | 8.3 (187 reviews) | 7.2 (105 reviews) | 
| **Workflow** | Not enough data | 8.3 (183 reviews) | 7.8 (106 reviews) | 
| **Automated Reminders** | Not enough data | 8.1 (180 reviews) | 7.6 (113 reviews) | 
| **Policy Compliance Management** | Not enough data | 8.0 (169 reviews) | 7.2 (103 reviews) | 
| **User, Role, and Access Management** | Not enough data | 8.5 (196 reviews) | 7.9 (111 reviews) | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Reporting** | Not enough data | 8.8 (219 reviews) | 8.3 (128 reviews) | 
| **APIs / Integration** | Not enough data | 8.3 (175 reviews) | 7.2 (97 reviews) | 
| **Internationalization** | Not enough data | 8.2 (164 reviews) | 7.0 (94 reviews) | 
| **Performance and Reliability** | Not enough data | 9.0 (196 reviews) | 9.0 (126 reviews) | 
| **Mobile User Support** | Not enough data | 8.1 (179 reviews) | 8.3 (115 reviews) | 
| **Offline** | Not enough data | 5.9 (150 reviews) | 7.0 (99 reviews) | 

### Accounting

| Product | Score | Reviews |
|---|---|---|
| **Wave** | 7.1/10 | 91 |
| **Xero** | 8.3/10 | 1212 |
| **FreshBooks** | 8.0/10 | 451 |

#### General Ledger

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Journal Entries** | 8.0 (56 reviews) ✓ Verified | 8.5 (632 reviews) ✓ Verified | 8.1 (234 reviews) ✓ Verified | 
| **Tags / Dimensions** | 7.9 (47 reviews) ✓ Verified | 8.1 (577 reviews) ✓ Verified | 7.8 (228 reviews) ✓ Verified | 
| **Audit Trail** | 7.6 (46 reviews) ✓ Verified | 8.5 (593 reviews) ✓ Verified | 8.1 (224 reviews) ✓ Verified | 

#### Accounts Receivable

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Invoice Customization** | 8.6 (76 reviews) | 8.6 (660 reviews) ✓ Verified | 8.7 (398 reviews) ✓ Verified | 
| **AR Automation** | 8.1 (55 reviews) ✓ Verified | 8.3 (559 reviews) | 8.5 (310 reviews) ✓ Verified | 
| **Collections Automation** | 8.0 (47 reviews) ✓ Verified | 8.0 (559 reviews) ✓ Verified | 8.2 (275 reviews) ✓ Verified | 

#### Accounts Payable

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **AP Automation** | 7.8 (36 reviews) | 8.4 (541 reviews) | 8.2 (271 reviews) ✓ Verified | 
| **Payment Processing** | 8.1 (56 reviews) ✓ Verified | 8.7 (621 reviews) ✓ Verified | 8.7 (328 reviews) ✓ Verified | 
| **Purchase Orders** | 7.4 (34 reviews) ✓ Verified | 8.4 (563 reviews) ✓ Verified | 7.6 (142 reviews) | 

#### Other Functionality

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Inventory Tracking / Ordering** | 6.9 (28 reviews) ✓ Verified | 7.7 (501 reviews) | 7.1 (125 reviews) | 
| **Inventory Pricing and Costing** | 7.1 (30 reviews) ✓ Verified | 7.7 (492 reviews) | Feature Not Available | 
| **Inventory Reporting** | 6.8 (28 reviews) | 7.8 (478 reviews) ✓ Verified | 7.5 (157 reviews) ✓ Verified | 
| **Multi-Entity / Consolidation** | 6.9 (31 reviews) ✓ Verified | 7.7 (517 reviews) ✓ Verified | 7.0 (128 reviews) | 
| **Recognition Rules** | 7.1 (32 reviews) ✓ Verified | 8.3 (544 reviews) ✓ Verified | 7.2 (132 reviews) | 
| **Reconciliations** | 7.7 (46 reviews) ✓ Verified | 8.9 (719 reviews) ✓ Verified | 7.5 (144 reviews) | 
| **Payroll** | 6.7 (27 reviews) ✓ Verified | 8.1 (553 reviews) ✓ Verified | 7.6 (154 reviews) | 
| **Time and Expense** | 6.8 (28 reviews) ✓ Verified | 8.2 (538 reviews) | 8.6 (319 reviews) ✓ Verified | 

#### Reporting & Analytics

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Financial Statements** | 8.3 (77 reviews) ✓ Verified | 8.9 (717 reviews) ✓ Verified | 8.7 (365 reviews) ✓ Verified | 
| **Custom Reporting** | 7.9 (59 reviews) ✓ Verified | 8.4 (647 reviews) ✓ Verified | 8.1 (201 reviews) | 
| **Budgeting / Forecasting** | 7.6 (41 reviews) ✓ Verified | 8.3 (530 reviews) ✓ Verified | 7.6 (191 reviews) ✓ Verified | 
| **Dashboards** | 8.5 (72 reviews) ✓ Verified | 8.7 (660 reviews) ✓ Verified | 8.8 (387 reviews) ✓ Verified | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Customization** | 7.3 (59 reviews) ✓ Verified | 8.1 (589 reviews) ✓ Verified | 7.9 (164 reviews) | 
| **Workflow Capability** | 7.3 (41 reviews) ✓ Verified | 8.1 (543 reviews) | 7.6 (151 reviews) | 
| **User, Role, and Access Management** | 7.8 (54 reviews) ✓ Verified | 8.5 (607 reviews) ✓ Verified | 8.4 (288 reviews) ✓ Verified | 
| **Internationalization** | 7.3 (28 reviews) ✓ Verified | 8.1 (505 reviews) ✓ Verified | 7.4 (137 reviews) | 
| **Performance and Reliability** | 8.2 (65 reviews) ✓ Verified | 8.8 (674 reviews) ✓ Verified | 9.0 (380 reviews) ✓ Verified | 
| **Output Document Generation** | 7.9 (53 reviews) ✓ Verified | 8.5 (550 reviews) ✓ Verified | 8.3 (153 reviews) | 

#### Integration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Data Import and Export Tools** | 7.7 (50 reviews) ✓ Verified | 8.5 (591 reviews) ✓ Verified | 8.2 (271 reviews) ✓ Verified | 
| **Integration APIs** | 7.2 (31 reviews) | 8.5 (535 reviews) | 8.0 (194 reviews) ✓ Verified | 
| **Breadth of Partner Applications** | 6.6 (31 reviews) ✓ Verified | 8.4 (579 reviews) ✓ Verified | 7.6 (217 reviews) | 

#### Cash Flow

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Track Cash Flow** | 8.0 (33 reviews) ✓ Verified | 8.7 (499 reviews) ✓ Verified | 8.3 (202 reviews) ✓ Verified | 
| **Income and Expenses** | 8.4 (37 reviews) ✓ Verified | 9.0 (489 reviews) ✓ Verified | 8.8 (288 reviews) ✓ Verified | 
| **File Exports** | 7.6 (28 reviews) ✓ Verified | 8.6 (449 reviews) ✓ Verified | 8.4 (244 reviews) ✓ Verified | 

#### Budgeting & Forecasting

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Budgeting / Forecasting** | 7.6 (41 reviews) ✓ Verified | 8.3 (530 reviews) ✓ Verified | 7.6 (191 reviews) ✓ Verified | 
| **Data Import** | 7.1 (24 reviews) ✓ Verified | 8.5 (453 reviews) ✓ Verified | 8.1 (165 reviews) ✓ Verified | 
| **Versioning** | 6.6 (17 reviews) ✓ Verified | 8.2 (415 reviews) ✓ Verified | 7.6 (136 reviews) ✓ Verified | 
| **Historical Data** | 7.2 (27 reviews) ✓ Verified | 8.4 (445 reviews) ✓ Verified | 8.2 (203 reviews) ✓ Verified | 

#### Revenue

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Revenue Types** | 7.9 (28 reviews) ✓ Verified | 8.6 (469 reviews) ✓ Verified | 8.4 (227 reviews) ✓ Verified | 
| **Revenue Allocation** | 7.5 (23 reviews) ✓ Verified | 8.5 (453 reviews) ✓ Verified | 7.8 (169 reviews) ✓ Verified | 
| **Scheduling** | 7.2 (21 reviews) | 8.1 (422 reviews) ✓ Verified | 8.0 (163 reviews) | 

#### Payroll

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Direct Deposit** | 6.7 (20 reviews) ✓ Verified | 8.1 (406 reviews) ✓ Verified | 7.8 (112 reviews) ✓ Verified | 
| **Check/W-2 Printing** | 6.8 (17 reviews) | 7.8 (393 reviews) ✓ Verified | 7.4 (105 reviews) ✓ Verified | 
| **Tax Calculation** | 6.6 (20 reviews) ✓ Verified | 8.3 (439 reviews) ✓ Verified | 7.7 (114 reviews) ✓ Verified | 
| **Reporting and Dashboards** | 7.7 (25 reviews) ✓ Verified | 8.6 (450 reviews) ✓ Verified | 8.2 (124 reviews) ✓ Verified | 

#### AI

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Data Extraction** | 5.4 (8 reviews) | 8.0 (279 reviews) | 7.6 (38 reviews) | 
| **Invoice Processing** | 6.5 (8 reviews) | 8.5 (275 reviews) | 7.5 (35 reviews) | 
| **Expense Management** | 6.7 (10 reviews) | 8.3 (279 reviews) | 7.8 (35 reviews) | 
| **Fraud Detection** | 4.5 (7 reviews) | 8.1 (275 reviews) | 7.5 (36 reviews) | 
| **Tax Compliance** | 6.7 (8 reviews) | 8.2 (274 reviews) | 7.4 (35 reviews) | 
| **Support Chatbots** | 5.6 (8 reviews) | 7.8 (275 reviews) | 7.0 (38 reviews) | 
| **Bank Reconciliations** | 7.6 (9 reviews) | 8.7 (293 reviews) | 7.3 (45 reviews) | 
| **Report Generation** | 6.7 (8 reviews) | 8.6 (281 reviews) | 7.6 (39 reviews) | 
| **Customizable Alerts** | 6.0 (7 reviews) | 8.3 (271 reviews) | 7.0 (42 reviews) | 
| **Predictive Analytics** | 5.7 (7 reviews) | 8.2 (274 reviews) | 7.4 (37 reviews) | 

#### Mobile Applications - Accounting

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Cloud Integration** | 6.9 (9 reviews) | 8.6 (283 reviews) | 9.2 (12 reviews) | 
| **Notifications** | 7.8 (9 reviews) | 8.4 (261 reviews) | 8.9 (11 reviews) | 
| **UI** | 6.5 (8 reviews) | 8.6 (297 reviews) | 9.0 (13 reviews) | 
| **Offline** | 3.0 (5 reviews) | 7.1 (246 reviews) | 7.8 (10 reviews) | 
| **Expense Tracking** | 6.2 (7 reviews) | 8.6 (265 reviews) | 8.5 (12 reviews) | 
| **Invoice Management** | 8.2 (10 reviews) | 8.7 (272 reviews) | 8.6 (15 reviews) | 

#### Agentic AI - Accounting

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Autonomous Task Execution** | Not enough data | 8.2 (233 reviews) | Not enough data | 

### Nonprofit Accounting

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | 8.7/10 | 1035 |
| **FreshBooks** | N/A | N/A |

#### General Ledger

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Journal Entries** | 8.0 (56 reviews) ✓ Verified | 8.5 (632 reviews) ✓ Verified | 8.1 (234 reviews) ✓ Verified | 
| **Tags / Dimensions** | 7.9 (47 reviews) ✓ Verified | 8.1 (577 reviews) ✓ Verified | 7.8 (228 reviews) ✓ Verified | 
| **Audit Trail** | 7.6 (46 reviews) ✓ Verified | 8.5 (593 reviews) ✓ Verified | 8.1 (224 reviews) ✓ Verified | 

#### Accounts Receivable

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Invoice Customization** | 8.6 (76 reviews) | 8.6 (660 reviews) ✓ Verified | 8.7 (398 reviews) ✓ Verified | 
| **AR Automation** | 8.1 (55 reviews) ✓ Verified | 8.3 (559 reviews) | 8.5 (310 reviews) ✓ Verified | 
| **Collections Automation** | 8.0 (47 reviews) ✓ Verified | 8.0 (559 reviews) ✓ Verified | 8.2 (275 reviews) ✓ Verified | 

#### Accounts Payable

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **AP Automation** | 7.8 (36 reviews) | 8.4 (541 reviews) | 8.2 (271 reviews) ✓ Verified | 
| **Payment Processing** | 8.1 (56 reviews) ✓ Verified | 8.7 (621 reviews) ✓ Verified | 8.7 (328 reviews) ✓ Verified | 
| **Purchase Orders** | 7.4 (34 reviews) ✓ Verified | 8.4 (563 reviews) ✓ Verified | 7.6 (142 reviews) | 

### Payroll

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | N/A | N/A |
| **FreshBooks** | 8.3/10 | 17 |

#### Employee Self Service

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Web Portal** | Not enough data | Not enough data | Feature Not Available | 
| **Benefits Manager** | Not enough data | Not enough data | Feature Not Available | 
| **Mobile** | Not enough data | Not enough data | Feature Not Available | 

#### Administration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Payroll Entry** | Not enough data | Not enough data | 8.6 (15 reviews) | 
| **Time Off Accrual** | Not enough data | Not enough data | Feature Not Available | 
| **Direct Deposit** | Not enough data | Not enough data | 9.3 (16 reviews) | 
| **Expense Reimbursement** | Not enough data | Not enough data | 8.3 (11 reviews) | 
| **Pre-tax Deductions** | Not enough data | Not enough data | Feature Not Available | 
| **Wage Garnishment** | Not enough data | Not enough data | 7.6 (14 reviews) | 
| **Approvals** | Not enough data | Not enough data | Feature Not Available | 
| **Check/W-2 Printing** | Not enough data | Not enough data | Feature Not Available | 
| **Check/W-2 Delivery** | Not enough data | Not enough data | Feature Not Available | 

#### Taxes

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Tax Calculation** | Not enough data | Not enough data | 8.0 (17 reviews) | 
| **Tax Filing** | Not enough data | Not enough data | 7.7 (14 reviews) | 
| **Automatic Tax Payment** | Not enough data | Not enough data | 7.9 (14 reviews) | 

#### Integration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **API / Integration** | Not enough data | Not enough data | Feature Not Available | 
| **Time Tracking Integration** | Not enough data | Not enough data | Feature Not Available | 
| **Accounting Integration** | Not enough data | Not enough data | 7.9 (13 reviews) | 
| **Core HR Integration** | Not enough data | Not enough data | Feature Not Available | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Reporting and Dashboards** | Not enough data | Not enough data | 8.1 (14 reviews) | 
| **User, Role, and Access Management** | Not enough data | Not enough data | 8.7 (15 reviews) | 
| **Performance and Reliability** | Not enough data | Not enough data | 8.7 (13 reviews) | 
| **Scalability** | Not enough data | Not enough data | 8.6 (14 reviews) | 

### Invoice Management

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | 8.6/10 | 326 |
| **FreshBooks** | N/A | N/A |

#### Invoice Generation

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Templates** | Not enough data | 8.3 (210 reviews) | Not enough data | 
| **Digital Invoices** | Not enough data | 9.0 (211 reviews) | Not enough data | 
| **Recurring Invoices** | Not enough data | 9.0 (205 reviews) | Not enough data | 

#### Invoice Processing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Approvals** | Not enough data | 8.7 (202 reviews) | Not enough data | 
| **Batch Processing** | Not enough data | 8.6 (200 reviews) | Not enough data | 
| **Consolidation** | Not enough data | 8.3 (197 reviews) | Not enough data | 
| **Match Invoices** | Not enough data | 8.9 (208 reviews) | Not enough data | 

#### Analytics

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Due Dates** | Not enough data | 9.0 (206 reviews) | Not enough data | 
| **Cashflow** | Not enough data | 8.6 (206 reviews) | Not enough data | 
| **KPIs** | Not enough data | 8.2 (189 reviews) | Not enough data | 
| **Payment Tracking** | Not enough data | 8.7 (204 reviews) | Not enough data | 

#### Integration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Accounting** | Not enough data | 9.0 (213 reviews) | Not enough data | 
| **Payments** | Not enough data | 8.8 (208 reviews) | Not enough data | 
| **ERP** | Not enough data | 8.1 (190 reviews) | Not enough data | 
| **Account Sync** | Not enough data | 8.5 (208 reviews) | Not enough data | 

#### Agentic AI - Invoice Management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Cross-system Integration** | Not enough data | 8.4 (111 reviews) | Not enough data | 
| **Adaptive Learning** | Not enough data | 8.4 (112 reviews) | Not enough data | 
| **Proactive Assistance** | Not enough data | 8.1 (113 reviews) | Not enough data | 

### Payment Processing

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | N/A | N/A |
| **FreshBooks** | 7.5/10 | 100 |

#### Payment Processing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Encryption** | Not enough data | Not enough data | 8.3 (80 reviews) | 
| **Credit Card Processing** | Not enough data | Not enough data | 8.5 (87 reviews) | 
| **Mobile Payments** | Not enough data | Not enough data | 8.2 (79 reviews) | 
| **Digital Wallet Integration** | Not enough data | Not enough data | 7.3 (67 reviews) | 

#### Administration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Reporting & Analytics** | Not enough data | Not enough data | 8.3 (84 reviews) | 
| **E-commerce Integration** | Not enough data | Not enough data | 6.8 (68 reviews) | 
| **Processing Fees** | Not enough data | Not enough data | 6.6 (84 reviews) | 
| **POS Integration** | Not enough data | Not enough data | 7.0 (64 reviews) | 
| **Omnichannel** | Not enough data | Not enough data | 7.1 (66 reviews) | 
| **Levels 1 & 2** | Not enough data | Not enough data | 6.8 (67 reviews) | 
| **Level 3** | Not enough data | Not enough data | 7.0 (67 reviews) | 

#### Payment Options

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Multi-Currency** | Not enough data | Not enough data | 7.3 (64 reviews) | 
| **Online payment portal** | Not enough data | Not enough data | 8.4 (75 reviews) | 

#### Security

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **POS Verification** | Not enough data | Not enough data | 7.4 (62 reviews) | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Accounting integration** | Not enough data | Not enough data | 7.6 (67 reviews) | 
| **E-commerce Integration** | Not enough data | Not enough data | 7.1 (64 reviews) | 

### Inventory Control

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | 9.0/10 | 140 |
| **FreshBooks** | N/A | N/A |

#### Multichannel inventory management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Warehouse Inventory Transfer** | Not enough data | 8.8 (77 reviews) | Not enough data | 
| **Multichannel Inventory Syncing** | Not enough data | 8.9 (77 reviews) | Not enough data | 
| **Multi-Warehouse Routing** | Not enough data | 8.7 (77 reviews) | Not enough data | 

#### 3PL inventory management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Client management** | Not enough data | 9.1 (78 reviews) | Not enough data | 
| **Marketplace connections** | Not enough data | 8.9 (77 reviews) | Not enough data | 
| **3PL inventory tracking** | Not enough data | 8.9 (76 reviews) | Not enough data | 

#### Inventory Management

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Inventory Tracking** | Not enough data | 9.1 (79 reviews) | Not enough data | 
| **Inventory Costing** | Not enough data | 9.0 (78 reviews) | Not enough data | 
| **Product Master** | Not enough data | 9.0 (76 reviews) | Not enough data | 
| **Inventory Forecasting** | Not enough data | 8.9 (76 reviews) | Not enough data | 
| **Integrations** | Not enough data | 9.3 (77 reviews) | Not enough data | 

#### Inventory Management Platform Features

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Centralized Inventory Database** | Not enough data | 9.1 (80 reviews) | Not enough data | 
| **Inventory Level Dashboards** | Not enough data | 9.1 (81 reviews) | Not enough data | 
| **Stock History Reporting** | Not enough data | 8.9 (82 reviews) | Not enough data | 
| **Low Stock Notifications** | Not enough data | 8.7 (78 reviews) | Not enough data | 
| **Bundles, Kits, & Variants** | Not enough data | 8.8 (78 reviews) | Not enough data | 
| **Asset Tracking** | Not enough data | 9.1 (81 reviews) | Not enough data | 
| **Inventory Forecasting** | Not enough data | 8.9 (79 reviews) | Not enough data | 
| **eCommerce Integrations** | Not enough data | 9.3 (76 reviews) | Not enough data | 
| **Accounting Integrations** | Not enough data | 9.4 (80 reviews) | Not enough data | 
| **Data Exporting / Importing** | Not enough data | 9.4 (80 reviews) | Not enough data | 

### Billing

| Product | Score | Reviews |
|---|---|---|
| **Wave** | 7.8/10 | 49 |
| **Xero** | 8.5/10 | 294 |
| **FreshBooks** | 8.0/10 | 161 |

#### Bill Generation

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Templates** | 7.9 (36 reviews) | 8.3 (200 reviews) | 8.4 (143 reviews) | 
| **Digital Billing** | 8.3 (42 reviews) | 8.7 (201 reviews) | 8.6 (146 reviews) | 
| **Recurring Billing** | 8.1 (36 reviews) | 8.8 (204 reviews) | 8.3 (134 reviews) | 

#### Bill Processing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Consolidation** | 7.6 (28 reviews) | 8.2 (195 reviews) | 7.6 (128 reviews) | 
| **Batch Invoicing** | 7.6 (26 reviews) | 8.4 (196 reviews) | 7.8 (124 reviews) | 
| **Management** | 8.3 (40 reviews) | 8.6 (198 reviews) | 8.3 (127 reviews) | 

#### Integration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Accounting** | 7.9 (37 reviews) | 8.8 (208 reviews) | 7.9 (131 reviews) | 
| **Payments** | 8.0 (33 reviews) | 8.7 (203 reviews) | 8.4 (133 reviews) | 
| **ERP** | 6.8 (19 reviews) | 7.9 (186 reviews) | 7.1 (102 reviews) | 

#### Agentic AI - Billing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Autonomous Task Execution** | Not enough data | 8.3 (108 reviews) | Not enough data | 

### Accounting & Finance

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | N/A | N/A |
| **FreshBooks** | N/A | N/A |

#### Agentic AI - Accounting & Finance

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Autonomous Task Execution** | Not enough data | Not enough data | Not enough data | 

### Time Tracking

| Product | Score | Reviews |
|---|---|---|
| **Wave** | N/A | N/A |
| **Xero** | N/A | N/A |
| **FreshBooks** | 8.1/10 | 145 |

#### Time Tracking

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Ease of Completing Timesheets** | Not enough data | Not enough data | 8.8 (71 reviews) | 
| **Tracking Time to Project/Task** | Not enough data | Not enough data | 8.9 (76 reviews) | 
| **Billable Time Rate Management** | Not enough data | Not enough data | 8.9 (77 reviews) | 

#### Client Invoicing

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Invoice Creation and Delivery** | Not enough data | 9.1 (209 reviews) | 9.0 (136 reviews) | 
| **Electronic Payments** | Not enough data | 8.6 (187 reviews) | 8.4 (119 reviews) | 
| **Project Accounting / Revenue Recognition** | Not enough data | 8.4 (187 reviews) | 8.2 (124 reviews) | 

#### Mobile Time Tracking

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Time Tracking** | Not enough data | Not enough data | 8.6 (76 reviews) | 

#### Administration

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Business Tool Integration** | Not enough data | 8.3 (187 reviews) | 7.2 (105 reviews) | 
| **Workflow** | Not enough data | 8.3 (183 reviews) | 7.8 (106 reviews) | 
| **Automated Reminders** | Not enough data | 8.1 (180 reviews) | 7.6 (113 reviews) | 
| **Policy Compliance Management** | Not enough data | 8.0 (169 reviews) | 7.2 (103 reviews) | 
| **User, Role, and Access Management** | Not enough data | 8.5 (196 reviews) | 7.9 (111 reviews) | 

#### Platform

| Feature | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Reporting** | Not enough data | 8.8 (219 reviews) | 8.3 (128 reviews) | 
| **APIs / Integration** | Not enough data | 8.3 (175 reviews) | 7.2 (97 reviews) | 
| **Internationalization** | Not enough data | 8.2 (164 reviews) | 7.0 (94 reviews) | 
| **Performance and Reliability** | Not enough data | 9.0 (196 reviews) | 9.0 (126 reviews) | 
| **Mobile User Support** | Not enough data | 8.1 (179 reviews) | 8.3 (115 reviews) | 
| **Offline** | Not enough data | 5.9 (150 reviews) | 7.0 (99 reviews) | 

---
## Categories
**Shared Categories (2):** [Billing Software](https://www.g2.com/categories/billing), [Accounting Software](https://www.g2.com/categories/accounting)


**Unique to Xero (4):** [Invoice Management Software](https://www.g2.com/categories/invoice-management), [Inventory Control Software](https://www.g2.com/categories/inventory-control-software), [Expense Management Software](https://www.g2.com/categories/expense-management), [Nonprofit Accounting Software](https://www.g2.com/categories/nonprofit-accounting-software)

**Unique to FreshBooks (4):** [Time Tracking Software](https://www.g2.com/categories/time-tracking-software), [Expense Management Software](https://www.g2.com/categories/expense-management), [Payroll Software](https://www.g2.com/categories/payroll), [Payment Processing Software](https://www.g2.com/categories/payment-processing)


---
## Reviewer Demographics

### By Company Size

| Segment | Wave | Xero | FreshBooks | 
|---|---|---|---|
| **Small-Business** | 94.9% | 71.2% | 86.4% | 
| **Mid-Market** | 4.2% | 24.0% | 8.9% | 
| **Enterprise** | 1.0% | 4.8% | 4.6% | 

### By Industry

#### Wave

- **Marketing and Advertising:** 15.7%
- **Accounting:** 5.9%
- **Information Technology and Services:** 5.9%
- **Design:** 4.9%
- **Computer Software:** 3.3%
- **Management Consulting:** 2.9%
- **Internet:** 2.9%
- **Health, Wellness and Fitness:** 2.6%
- **Graphic Design:** 2.6%
- **Consulting:** 2.3%
- **Other:** 51.0%

#### Xero

- **Accounting:** 21.6%
- **Information Technology and Services:** 9.0%
- **Computer Software:** 6.6%
- **Marketing and Advertising:** 5.0%
- **Consulting:** 3.7%
- **Construction:** 3.5%
- **Financial Services:** 3.2%
- **Retail:** 3.0%
- **Health, Wellness and Fitness:** 2.2%
- **Real Estate:** 1.8%
- **Other:** 40.5%

#### FreshBooks

- **Marketing and Advertising:** 17.2%
- **Information Technology and Services:** 6.3%
- **Accounting:** 5.0%
- **Graphic Design:** 4.6%
- **Computer Software:** 4.1%
- **Consulting:** 3.9%
- **Design:** 3.8%
- **Management Consulting:** 3.7%
- **Internet:** 3.5%
- **Construction:** 3.3%
- **Other:** 44.6%

---
## Alternatives

### Alternatives to Wave

- [Zoho Books](https://www.g2.com/products/zoho-books/reviews) — 4.4/5 stars (327 reviews)
- [QuickBooks Desktop Pro](https://www.g2.com/products/quickbooks-desktop-pro/reviews) — 4.3/5 stars (1765 reviews)
- [QuickBooks Online](https://www.g2.com/products/quickbooks-online/reviews) — 4.0/5 stars (3820 reviews)
- [NetSuite](https://www.g2.com/products/netsuite/reviews) — 4.1/5 stars (4767 reviews)
- [GoDaddy Bookkeeping](https://www.g2.com/products/godaddy-bookkeeping/reviews) — 4.1/5 stars (38 reviews)
- [Zoho Invoice](https://www.g2.com/products/zoho-invoice/reviews) — 4.7/5 stars (357 reviews)
- [Square Point of Sale](https://www.g2.com/products/square-point-of-sale/reviews) — 4.6/5 stars (1207 reviews)
- [HoneyBook](https://www.g2.com/products/honeybook/reviews) — 4.4/5 stars (207 reviews)
- [Sage Intacct](https://www.g2.com/products/sage-intacct/reviews) — 4.3/5 stars (4197 reviews)
- [Stripe Billing](https://www.g2.com/products/stripe-billing/reviews) — 4.4/5 stars (141 reviews)

### Alternatives to Xero

- [NetSuite](https://www.g2.com/products/netsuite/reviews) — 4.1/5 stars (4767 reviews)
- [QuickBooks Online](https://www.g2.com/products/quickbooks-online/reviews) — 4.0/5 stars (3820 reviews)
- [Sage Intacct](https://www.g2.com/products/sage-intacct/reviews) — 4.3/5 stars (4197 reviews)
- [QuickBooks Desktop Pro](https://www.g2.com/products/quickbooks-desktop-pro/reviews) — 4.3/5 stars (1765 reviews)
- [Certinia Financial Management Cloud](https://www.g2.com/products/certinia-financial-management-cloud/reviews) — 4.0/5 stars (437 reviews)
- [Zoho Books](https://www.g2.com/products/zoho-books/reviews) — 4.4/5 stars (327 reviews)
- [Acumatica](https://www.g2.com/products/acumatica/reviews) — 4.4/5 stars (2007 reviews)
- [QuickBooks Desktop Enterprise](https://www.g2.com/products/quickbooks-desktop-enterprise/reviews) — 4.3/5 stars (1056 reviews)
- [SAP ECC](https://www.g2.com/products/sap-ecc/reviews) — 4.2/5 stars (941 reviews)
- [TallyPrime](https://www.g2.com/products/tallyprime/reviews) — 4.5/5 stars (295 reviews)

### Alternatives to FreshBooks

- [QuickBooks Desktop Pro](https://www.g2.com/products/quickbooks-desktop-pro/reviews) — 4.3/5 stars (1765 reviews)
- [NetSuite](https://www.g2.com/products/netsuite/reviews) — 4.1/5 stars (4767 reviews)
- [Zoho Books](https://www.g2.com/products/zoho-books/reviews) — 4.4/5 stars (327 reviews)
- [BILL AP/AR](https://www.g2.com/products/bill-ap-ar/reviews) — 4.4/5 stars (1805 reviews)
- [BigTime](https://www.g2.com/products/bigtime/reviews) — 4.5/5 stars (1686 reviews)
- [QuickBooks Desktop Enterprise](https://www.g2.com/products/quickbooks-desktop-enterprise/reviews) — 4.3/5 stars (1056 reviews)
- [BQE CORE](https://www.g2.com/products/core-bqe-software-inc/reviews) — 4.3/5 stars (449 reviews)
- [HoneyBook](https://www.g2.com/products/honeybook/reviews) — 4.4/5 stars (207 reviews)
- [Certinia Financial Management Cloud](https://www.g2.com/products/certinia-financial-management-cloud/reviews) — 4.0/5 stars (437 reviews)
- [Sage Intacct](https://www.g2.com/products/sage-intacct/reviews) — 4.3/5 stars (4197 reviews)

---
## Top Discussions

### Wave

- Title: [Is Wave Accounting really free?](https://www.g2.com/discussions/is-wave-accounting-really-free) — 2 comments
  > **Top comment:** "yes"
- Title: [Is wave a good accounting software?](https://www.g2.com/discussions/is-wave-a-good-accounting-software) — 2 comments
  > **Top comment:** "Yeah. It has most of the features required by a small business. You can request the team if you need anything in particular "
- Title: [What is Wave Software?](https://www.g2.com/discussions/what-is-wave-software) — 2 comments
  > **Top comment:** "Wave software is an easy to use Payroll and Accounting software. You can create invoices, send billings, track expenses, and all normal transactions..."
- Title: [How does Wave Software make money?](https://www.g2.com/discussions/how-does-wave-software-make-money) — 1 comment
  > **Top comment:** "On payments they take a percent just like all payments services. They give the accounting platform away for free because they know at least some people will..."

### Xero

- Title: [What is Xero used for?](https://www.g2.com/discussions/what-is-xero-used-for) — 3 comments
  > **Top comment:** "Accounting, bookkeeping, tax return, payroll, expenses management etc. For small or medium business"
- Title: [Is XERO a good accounting software?](https://www.g2.com/discussions/is-xero-a-good-accounting-software) — 3 comments
  > **Top comment:** "Yep - especially with the upgrade to forecast cash flow"
- Title: [What is Xero software used for?](https://www.g2.com/discussions/what-is-xero-software-used-for) — 3 comments
  > **Top comment:** "Accounting and invoicing needs"
- Title: [Is Xero easy to use?](https://www.g2.com/discussions/is-xero-easy-to-use) — 2 comments, 1 upvote
  > **Top comment:** "Yes, it is easy to use."
- Title: [What are the new features in Xero?](https://www.g2.com/discussions/what-are-the-new-features-in-xero) — 2 comments, 1 upvote
  > **Top comment:** "Do you need reviews on this G2 website too? I have reviewed the website here before. And approved review 100% madniawais189@gmail.com"

### FreshBooks

- Title: [Does FreshBooks support recurring billing?](https://www.g2.com/discussions/does-freshbooks-support-recurring-billing) — 3 comments, 1 upvote *(includes official response)*
  > **Top comment:** "The FreshBooks employee time tracking feature allows employees to log and track time easily to their own time sheet. Account administrators get the final say..."
- Title: [What is the best way to manage deposits against future work as a consultant?](https://www.g2.com/discussions/25036-what-is-the-best-way-to-manage-deposits-against-future-work-as-a-consultant) — 2 comments, 1 upvote
  > **Top comment:** "Hi Mark,

You most likely would benefit from the retainer feature in FB which allows you to track time against a retainer payment...."
- Title: [How do you like using Freshbooks](https://www.g2.com/discussions/24969-how-do-you-like-using-freshbooks) — 2 comments, 1 upvote
  > **Top comment:** "Hi Rodney,

We have used Freshbooks since 2013, and are in no way affiliated with them.

For the most part, our experience overall has been positive,..."
- Title: [What is FreshBooks?](https://www.g2.com/discussions/what-is-freshbooks) — 1 comment
  > **Top comment:** "Freshbooks is an online accounting system for service based businesses and is especially useful for creating invoices and tracking expenses. "
- Title: [What is FreshBooks used for?](https://www.g2.com/discussions/what-is-freshbooks-used-for) — 1 comment, 1 upvote
  > **Top comment:** " "What is FreshBooks used for" is easily answered when you Google - the description that is posted there: The best cloud based small business accounting..."

---
**Source:** [G2.com](https://www.g2.com) | [Comparison Page](https://www.g2.com/compare/wave-vs-xero-vs-freshbooks)