Wave Accounting Review

Name: Wave Accounting
Brand: Wave Accounting
Availability: InStock

Free double-entry accounting for solo agents — the $19/mo Pro tier adds automatic bank imports, branded invoices, and receipt capture.

Starting at Free / $19/mo (Pro)

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Wave Accounting Pros

Starter plan is permanently free with no revenue cap or time limit — unlimited invoices and bookkeeping records at no cost.
Pro plan ($19/mo) undercuts QuickBooks Simple Start ($35/mo) and FreshBooks Lite ($22/mo) for comparable core features.
Full double-entry bookkeeping with P&L, balance sheet, and sales tax reporting built in on all plans.
Data export available at any time on any plan with no lock-in or export fees.

Wave Accounting Cons

No commission calculation, trust/escrow accounting, or real estate-specific workflows — agents must manually construct RE-specific reports.
Automatic bank import requires the $19/mo Pro plan; Starter forces manual transaction entry, which is slow for active agents.
Free plan is limited to one user with email-only support and Wave branding printed on all client invoices.
No built-in mileage tracking — agents must pair Wave with a separate app like MileIQ or Everlance.

Product Overview

Wave Accounting offers a genuinely free starting tier with unlimited invoicing, double-entry bookkeeping, and P&L reporting, making it the go-to alternative to QuickBooks Online or FreshBooks for cost-conscious solo agents. The $19/month Pro plan unlocks automatic bank-transaction imports via Plaid, branded invoice templates, and receipt capture. Wave lacks any real estate-specific functionality: no commission calculation, no trust/escrow ledger, no mileage tracker, and no native integrations with CRMs like Follow Up Boss or transaction platforms like dotloop. Payroll is an expensive add-on ($40/month plus $6 per person), free-plan support is self-serve only, and reconciliation bugs — including duplicate bank imports — are a recurring complaint in user reviews. Best suited for newly licensed solo agents tracking basic income and expenses; teams or brokerage back offices should look at AccountTECH or Loft47 instead.