{"id":27181,"date":"2026-03-06T18:44:26","date_gmt":"2026-03-06T18:44:26","guid":{"rendered":"https:\/\/envoice.eu\/?p=27181"},"modified":"2026-03-06T18:44:26","modified_gmt":"2026-03-06T18:44:26","slug":"wave-vs-xero","status":"publish","type":"post","link":"https:\/\/envoice.eu\/en\/blog\/wave-vs-xero\/","title":{"rendered":"Wave vs Xero: Which one is right for small businesses?"},"content":{"rendered":"<p><i><span style=\"font-weight: 400;\">Produced by our content partners and reviewed by<\/span><\/i><a href=\"https:\/\/envoice.eu\/en\/about-us\/\"><i><span style=\"font-weight: 400;\"> Envoice\u2019s internal experts<\/span><\/i><\/a><i><span style=\"font-weight: 400;\"> to ensure it reflects real accounting workflows and accurate product usage.<\/span><\/i><\/p>\n<p><span style=\"font-weight: 400;\">Big-name platforms (like QuickBooks Online and Sage) dominate the choices when it comes to small and medium enterprises. But what if you don\u2019t need such sophisticated features, or the pricing that comes with it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For small businesses and the self-employed, there are lighter options available on the market. Some even have free versions that give you access to a good range of features. Others charge a lower fee for smaller businesses and provide the option of scaling without losing all your data. In this guide, we look into two such options, Wave and Xero.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Quick Overview<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Wave and Xero are accounting software for small businesses, freelancers, consultants, contractors, and solopreneurs. Wave is a specialized platform aimed at self-employeds, while Xero focuses on small and medium enterprises.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Table of Contents<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Feature-comparison\"><span style=\"font-weight: 400;\">Wave vs Xero: Feature comparison<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Pros-and-Cons\"><span style=\"font-weight: 400;\">Pros and Cons: Wave vs Xero<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#faq\"><span style=\"font-weight: 400;\">FAQs<\/span><\/a><\/li>\n<\/ul>\n<h2 id=\"Feature-comparison\"><span style=\"font-weight: 400;\">Wave vs Xero: Feature comparison<\/span><\/h2>\n<table style=\"width: 100%; border-collapse: collapse; table-layout: fixed; font-family: Arial,Helvetica,sans-serif; font-size: 14px; line-height: 1.3; border: 1px solid #000;\">\n<colgroup>\n<col style=\"width: 33%;\" \/>\n<col style=\"width: 33%;\" \/>\n<col style=\"width: 34%;\" \/> <\/colgroup>\n<tbody>\n<tr>\n<td style=\"border: 1px solid #000; padding: 8px 12px; font-weight: bold;\">General information<\/td>\n<td style=\"border: 1px solid #000; padding: 8px 12px; font-weight: bold;\"><b>Wave Accounting Software<\/b><\/td>\n<td style=\"border: 1px solid #000; padding: 8px 12px; font-weight: bold;\"><b>Xero Accounting Software<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\">Who uses it?<\/p>\n<p>&nbsp;<\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Freelancers, solopreneurs, consultants, independent contractors, very small businesses (1-9 employees), service businesses.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Small and medium enterprises<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\">Which industry can use it?<\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Creative services, retail, consulting, real estate, fitness and wellness experts, IT services.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Construction, retail, manufacturing, IT, healthcare, services-based businesses, hospitality, and agriculture.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px; vertical-align: top;\"><span style=\"font-weight: 400;\">How much does it cost?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 0; vertical-align: top;\">\n<table style=\"width: 100%; border-collapse: collapse; table-layout: fixed;\">\n<tbody>\n<tr>\n<td style=\"padding: 10px 12px; border-bottom: 1px solid #000;\"><span style=\"font-weight: 400;\">Starter &#8211; $0 (Free plan)<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px;\"><span style=\"font-weight: 400;\">Pro Plan &#8211; $19 pm<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td style=\"border: 1px solid #000; padding: 0; vertical-align: top;\">\n<table style=\"width: 100%; border-collapse: collapse; table-layout: fixed;\">\n<tbody>\n<tr>\n<td style=\"padding: 10px 12px; border-bottom: 1px solid #000;\"><span style=\"font-weight: 400;\">Early &#8211; $25 <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px; border-bottom: 1px solid #000;\"><span style=\"font-weight: 400;\">Growing &#8211; $55<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px;\"><span style=\"font-weight: 400;\">Established &#8211; $90<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Is there a free trial?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Free starter plan, cancel whenever you want.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">One month free. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Can I get a discounted rate?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">None advertised.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Xero often offers discounted rates for 3-6 months. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px; vertical-align: top;\"><span style=\"font-weight: 400;\">How many users can be added?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 0; vertical-align: top;\">\n<table style=\"width: 100%; border-collapse: collapse; table-layout: fixed;\">\n<tbody>\n<tr>\n<td style=\"padding: 10px 12px; border-bottom: 1px solid #000;\"><span style=\"font-weight: 400;\">Starter &#8211; 1 <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"padding: 10px 12px;\"><span style=\"font-weight: 400;\">Pro plan &#8211; Unlimited Wave users allowed.<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td style=\"border: 1px solid #000; padding: 0; vertical-align: top;\">\n<table style=\"width: 100%; border-collapse: collapse; table-layout: fixed;\">\n<tbody>\n<tr>\n<td style=\"padding: 10px 12px;\"><span style=\"font-weight: 400;\">Unlimited users<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<p><!-- Remaining rows kept (styled) --><\/p>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Is there any customer support?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><a href=\"https:\/\/support.waveapps.com\/hc\/en-us\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Wave support<\/span><\/a><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><a href=\"https:\/\/central.xero.com\/0\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Xero Central<\/span><\/a><span style=\"font-weight: 400;\">, JAX &#8211; AI Agent<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">What do others think of this product?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><a href=\"https:\/\/www.g2.com\/products\/wave\/reviews?\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">4.3\/5.0<\/span><\/a><span style=\"font-weight: 400;\"> (G2)<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><a href=\"https:\/\/www.forbes.com\/advisor\/business\/software\/best-accounting-software\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">4.1\/5.0<\/span><\/a><span style=\"font-weight: 400;\"> (Forbes)<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">How quickly can I use this software?<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Guided set up and easy user interface, quick adaptation<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Easy setup, small learning curve.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 6px 12px; font-weight: bold;\" colspan=\"3\"><b>Core Accounting Features<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Bookkeeping<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Create unlimited bookkeeping entries.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Fully fledged accounting solution helping you run your business and providing automated bookkeeping features. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Invoicing<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Customize invoicing features. Send professional invoices with a logo. Drop-and-drag editing. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Advanced invoicing features, bulk invoicing, quote-to-invoice invoicing process workflow, recurring invoices, payment reminders, and unlimited invoices. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Sales tax features<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Automatically calculates sales tax for invoices. Two methods used: Inclusive or exclusive of tax. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Automatic calculation of sales tax for all states and regions.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Expense tracking<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Keep track of all expenses in one place.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Full expense tracking with categorization <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Capture and organize receipts<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Paid option. Capture and organize receipts using your phone. Unlimited receipt scanning. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Scan and autosync receipts with the mobile apps. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Payments<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Accept online payments with Pro-plan and automate late payment reminders. Subject to identity verification and credit review. Receive bank deposits, credit card or Apple payments.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Create payment links or one-click payment buttons when creating invoices. Set up recurring payments. Accept online payments including credit card payments, debit card, ACH Debit, Apple Pay, and Google Pay.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Bill management<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Manage and track bills in one place. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Track, pay and manage bills directly with the comprehensive bill management and accounts payable function. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Bank reconciliation<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">With pro-plan import, merge and categorize bank transactions.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Link all bank accounts, and transactions are automatically brought into the software and reconciled.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Bank feed connections<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">With pro-plan create unlimited bank and credit card connections. Bank connections are read-only for higher security.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Connect unlimited bank accounts and credit cards. Up-to-date bank balances and transactions for review. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Estimates and deposits<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Create estimates from customizable templates, request a deposit on the estimate. Full estimate visibility. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Create, send, and track professional estimates. Convert estimates to invoices with one click, and receive deposits from estimates.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Reports<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Basic reporting features and financial statements.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Tailor the content and layouts of your reports to show the metrics that matter most to your business.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Cash flow management<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Month-on-month comparison of cash flow. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Full cash flow visibility month-on-month and YTD.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Tax season help<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Dashboard organizes income, expenses, and payments for easy tax submissions.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Streamlines tax compliance, e-file 1099 forms, and pay taxes with third-party apps.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 6px 12px; font-weight: bold;\" colspan=\"3\"><b>Advanced Features<\/b><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Mobile app functionality<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Mobile app allowing invoice creation, data sync and snap receipts. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">The mobile app allows you to create invoices, scan receipts, review expenses, approve categorization, and have full visibility over cash flow trends. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Time tracking<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">No time or project tracking available.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Full project lifecycle. Time, profitability, costs, quotes to invoices, and track billable clients.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Inventory management<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Not available.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\">Automatically track your items so you know when to reorder, breeze through your digital billing, and connect apps for extra tools.<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Payroll services<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Paid add-on.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Full payroll function with Gusto integration. <\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Tax payments<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Payroll add-on only. <\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Connect Xero to third-party apps for tax payments.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Third-party apps<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Through a Zapier integration, there are 1000+, but very few direct integrations.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Integration with over 1000 apps expands the uses of the basic accounting software.<\/span><\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Multiple currencies<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Yes. Enter the manual conversion rate on invoices.<\/span><\/td>\n<td style=\"border: 1px solid #000; padding: 10px 12px;\"><span style=\"font-weight: 400;\">Support for currencies in 160+ countries. <\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>&nbsp;<\/p>\n<p><b><i>The missing ingredient in Xero<\/i><\/b><span style=\"font-weight: 400;\">. Xero\u2019s software has many impressive features, but it doesn\u2019t have a comprehensive built-in multi-step approval workflow for expenses and invoices. Give Xero this functionality through the <\/span><a href=\"https:\/\/envoice.eu\/\"><span style=\"font-weight: 400;\">Envoice<\/span><\/a><span style=\"font-weight: 400;\"> add-on.\u00a0 With Envoice, you can assign user access rights, set up approvers, and implement one-click approvals. The end result: No more bottlenecks in your financial workflow. <\/span><a href=\"https:\/\/app.envoice.eu\/desktop\/user\/register?_gl=1*52bmr8*_up*MQ..*_ga*MTI5NDg2MjY3OC4xNzcyNDY1MjI2*_ga_JEQBVXMSF3*czE3NzI0NjUyMjUkbzEkZzAkdDE3NzI0NjUyMjUkajYwJGwwJGgxMDQ3OTE2MDI3\"><span style=\"font-weight: 400;\">Add Envoice now<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2 id=\"Pros-and-Cons\"><span style=\"font-weight: 400;\">Why use Wave or Xero as your accounting software?<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">For business owners, bringing your financial processes online with accounting software is an important decision. Most businesses dislike the thought of starting with one platform and then having to move onto another, and another, because they can\u2019t find the right fit. Let\u2019s shortcut that frustration now by looking at why you should use Wave or Xero.\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Wave<\/span><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-27184 aligncenter\" src=\"https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-02.jpg\" alt=\"Wave invoicing dashboard for small business accounting software.\" width=\"800\" height=\"533\" srcset=\"https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-02.jpg 800w, https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-02-300x200.jpg 300w, https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-02-768x512.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/h3>\n<p><span style=\"font-weight: 400;\">For a platform that offers a pretty decent free tier, Wave offers a high-quality, easy-to-use platform that most people can get excited about. By all standards, it is much cheaper than the nearest competitor. Its interface is not the only thing about Wave that\u2019s sophisticated; it also has excellent features.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re coming from another platform, Wave has an easy-to-understand guide for importing your information, and even helps you switch from spreadsheets to the system with bulk importing. You can assign user rights to as many users as you need so that your accountant or bookkeeper can work on your finances in real-time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wave has been around since 2010, helping over 5.9 million small business owners with their finances. Further support is offered to SBO through Wave Advisors, where you can find bookkeeping services (if you need help), and accounting coaching (if you want to learn how to do your own books).\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Xero<\/span><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-27185 aligncenter\" src=\"https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-03.jpg\" alt=\"Xero online invoicing dashboard for small business accounting.\" width=\"800\" height=\"533\" srcset=\"https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-03.jpg 800w, https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-03-300x200.jpg 300w, https:\/\/envoice.eu\/wp-content\/uploads\/2026\/03\/wave-vs-xero-03-768x512.jpg 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/h3>\n<p><span style=\"font-weight: 400;\">Xero has been making subtle changes to its platform over the years that are yielding big results. Currently, the platform compares with the likes of QuickBooks and Sage for small and medium enterprises, making it one of the most popular accounting software around the world.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re a freelancer or contractor, you could use Xero, but it will cost you much more than Wave. There will also be a lot of unnecessary features that you don\u2019t need to use. But if you\u2019re a small business with your eye on great things, then start with Xero now and let it scale with your business. You get real-time updates to your financial information, giving you the power to manage your cash flow day-by-day. This helps you make better financial decisions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Xero helps you save time with its automation features, such as immediate categorization, receipt scanning, bank recons, and pay now buttons that get you paid faster. This means you cut down on manual data entry, and you don\u2019t have to spend hours tracking outstanding payments.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In a nutshell, Xero is a money-saver, time-saver, and provides every business owner with the peace of mind that comes from organized finances. The only thing missing is approval workflows, and if you really want to save time, you can\u2019t miss out on this feature. Luckily, one easy integration with <\/span><i><span style=\"font-weight: 400;\">Envoice<\/span><\/i><span style=\"font-weight: 400;\"> will provide you with this function, and you\u2019ll never look back. <\/span><a href=\"https:\/\/envoice.eu\/en\/features\/approvals\/?_gl=1*1e4wdw5*_up*MQ..*_ga*MTI0ODQ5MTUwNC4xNzcyNDY1ODA4*_ga_JEQBVXMSF3*czE3NzI0Njg4OTYkbzIkZzEkdDE3NzI0Njg5MTEkajQ1JGwwJGgxNzAwNjI3NjE2\"><span style=\"font-weight: 400;\">Learn more about approval workflows with Envoice<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/p>\n<h2 id=\"Conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">In this guide for small businesses, we looked into Xero vs Wave and which one is right for your business. Both of these accounting software have strong basic bookkeeping features, and will help you streamline your books so that you can present professional and up-to-date financials at tax time.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wave is better suited to freelancers, contractors, and consultants, while Xero is better suited to small and medium enterprises that need automation and advanced features such as project tracking and inventory management.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Wave is comparable with <\/span><a href=\"https:\/\/envoice.eu\/en\/blog\/freshbooks-vs-xero\/?_gl=1*111xbuc*_up*MQ..*_ga*MTAwNzg0NzI5LjE3NzI0NjU2NTM.*_ga_JEQBVXMSF3*czE3NzI0NjU2NTMkbzEkZzAkdDE3NzI0NjU2NTMkajYwJGwwJGgxNzkxOTMzNjg.\"><span style=\"font-weight: 400;\">FreshBooks<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/envoice.eu\/en\/blog\/freeagent-vs-quickbooks\/?_gl=1*111xbuc*_up*MQ..*_ga*MTAwNzg0NzI5LjE3NzI0NjU2NTM.*_ga_JEQBVXMSF3*czE3NzI0NjU2NTMkbzEkZzAkdDE3NzI0NjU2NTMkajYwJGwwJGgxNzkxOTMzNjg.\"><span style=\"font-weight: 400;\">FreeAgent<\/span><\/a><span style=\"font-weight: 400;\">, and Expensify. Xero is comparable to <\/span><a href=\"https:\/\/envoice.eu\/en\/blog\/benefits-of-quickbooks\/?_gl=1*s31voh*_up*MQ..*_ga*MTI0ODQ5MTUwNC4xNzcyNDY1ODA4*_ga_JEQBVXMSF3*czE3NzI0NjU4MDgkbzEkZzAkdDE3NzI0NjU4MDgkajYwJGwwJGgxMDMyMDMxNjI0\"><span style=\"font-weight: 400;\">QuickBooks<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/envoice.eu\/en\/blog\/xero-vs-sage\/?_gl=1*10tutn8*_up*MQ..*_ga*MTM3MjQ2NTg3OC4xNzcyNDY1Nzc1*_ga_JEQBVXMSF3*czE3NzI0NjU3NzUkbzEkZzAkdDE3NzI0NjU3NzUkajYwJGwwJGgxMDYxNzc2MTEw\"><span style=\"font-weight: 400;\">Sage<\/span><\/a><span style=\"font-weight: 400;\">, and Zoho Books.\u00a0<\/span><\/p>\n<h2 id=\"faq\"><span style=\"font-weight: 400;\">FAQs: Wave vs Xero<\/span><\/h2>\n<h3><span style=\"font-weight: 400;\">1. How is Wave different from Xero?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Wave and Xero are both bookkeeping software, but Wave is aimed at businesses with 1-9 employees, solopreneurs, consultants, and contractors. Wave is ideal for any business requiring free accounting software. Xero is aimed at small and medium enterprises, and is a more robust accounting solution that includes inventory tracking and payroll. Xero also offers fixed assets management, which Wave does not.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">2. Which one is cheaper, Wave or Xero?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">For small business accounting, Wave is cheaper. The platform offers a free software plan, allowing you to do basic bookkeeping and a paid plan. The paid plan is significantly cheaper than Xero\u2019s first-tier paid plan. Wave is cheaper because it doesn\u2019t have the robust features that Xero offers. Xero goes beyond the basic features to include inventory features, custom reports, and the ability to create purchase orders.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">3. Which software is better for freelancers, Wave or Xero?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Freelancers can use either Wave or Xero. However, if a freelancer is looking for a good free-tier software that tracks income and expenses, produces basic reports, and has a mobile app, then Wave is more than sufficient. Freelancers can upgrade their Wave plan to get access to more advanced features, such as payment processing.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">4. Can I use Wave for my bookkeeping?<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Yes, Wave can be used for bookkeeping. It is designed for small businesses and self-employed individuals such as freelancers, solopreneurs, consultants, and independent contractors. It has the ability to produce custom invoices, track income and expenses, manage cash flow, and has a user-friendly interface that guides you through the bookkeeping stages. At tax time you can draw financial statements to complete your tax return.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Produced by our content partners and reviewed by Envoice\u2019s internal experts to ensure it reflects real accounting workflows and accurate product usage. Big-name platforms (like QuickBooks Online and Sage) dominate the choices when it comes to small and medium enterprises. But what if you don\u2019t need such sophisticated features, or the pricing that comes with [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":27187,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[138,139],"tags":[],"class_list":["post-27181","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-accounting-software","category-xero"],"acf":[],"_links":{"self":[{"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/posts\/27181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/comments?post=27181"}],"version-history":[{"count":3,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/posts\/27181\/revisions"}],"predecessor-version":[{"id":27186,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/posts\/27181\/revisions\/27186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/media\/27187"}],"wp:attachment":[{"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/media?parent=27181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/categories?post=27181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/envoice.eu\/en\/wp-json\/wp\/v2\/tags?post=27181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}