Invoice Generator vs Wave (2026): which should you pick?
As of Nov 13, 2026, Invoice Generator grades higher than Wave: 3.2 against 2.4 out of 4.0.
Checked Nov 9, 2026 and Nov 13, 2026 · graded Oct 17, 2026 and Nov 13, 2026 by ToolGPA
Invoice Generator grades higher on value for money, the free plan and ease of use. They get the same grade on features and platforms.
Price, platforms and features side by side. The table says where each price was read and when.
Invoice Generator
Free browser invoice maker that exports PDFs, with an API
Wave
Free invoicing and bookkeeping for US and Canadian small businesses
Which one is for you
Pick Invoice Generator if
- Fits if you need one invoice as a PDF and don't want an account
- Works for developers who want to generate invoice PDFs from code
Look elsewhere if
- Not for you if you need bookkeeping, since there's no ledger, bank feeds or tax reports
- Watch out: without an account your invoices sit in your browser's local storage, and clearing it deletes them
- Watch out: the pages we read state no fee for card or bank payments, so check the payment screen
- Skip it if you want a phone app, because it is web only
Pick Wave if
- Fits if you're a sole trader in the US or Canada who mostly sends invoices
- Works for owners who'd pay Wave's own bookkeepers, from $149 a month, to keep the books
Look elsewhere if
- Not for you if your business is outside the US or Canada
- Skip it if you bill by the hour, as there's no time tracking, projects or inventory on the listing
- Tight if you stay free, since every bank transaction is typed in by hand and card fees are 2.9% plus $0.60
- Watch out: live chat and email support need Pro or a paid add-on, and run weekdays 9 AM to 4:45 PM Eastern only
- Pricey if you add payroll, at $40 a month in the US plus $6 per employee and per contractor paid
How we grade them
| 3.2GPAInvoice GeneratorVery good | 2.4GPAWaveFair | |
|---|---|---|
| Value for money | AFree with no stated caps: unlimited invoices and other documents, and the PDF download needs no account. | CPro is $19 a month, or $190 a year, between the cheaper quarter of accounting tools at $15 and the middle at $23. It buys bank feeds, receipt capture, late reminders and lower card fees, at a price in the middle of the range. |
| Free plan and trial | AFree outright. An account is needed only to send invoices and take payments, and the pages we read name no cap. | BStarter is free with unlimited invoices, estimates, bills and bookkeeping records, plus a dashboard and reports. One person could live on that. The catch is typing in bank transactions by hand, because bank feeds need Pro. |
| Features | CA template editor, PDF download, sending, payments and an API. It makes invoices fully, which is a smaller job than accounting: no ledger, bank feeds, expenses or tax reports. | CInvoices, online payments, bookkeeping, bank feeds, receipt scanning and payroll as an add-on. The basics are there, but the listing shows no time tracking, projects or inventory, and Wave serves only US and Canadian businesses. |
| Ease of use | BNo rating on record, but nothing to set up: open the page and fill in the template. | C4.37 from 6,664 App Store ratings, below most accounting apps here. Live chat and email support come only with Pro or a paid add-on, on weekdays. |
| Platforms and integrations | BWeb only, but with an API and links for ChatGPT, Claude, Perplexity and Gemini. No phone or desktop app. | BWeb, iPhone and Android, with connections to Amazon, Etsy, eBay, Google Sheets, Capsule CRM and Make. Most third-party integrations need Pro, and there's no desktop app. |
| Best for | a free invoice PDF with no account | free invoicing and books in the US or Canada |
The GPA is the average of the five grades: an A is 4 points, an F is none. The full reasons are on each tool's page: Invoice Generator and Wave. How we grade
Price against what you get
Invoice Generator has no paid plan and scores 2.7 out of 4 on features, ease of use and platforms. Wave starts at $19 a month and scores 2.3.
Invoice Generator scores higher and starts $19 a month lower. Of the other accounting and invoicing tools on the chart, none scores higher than Invoice Generator for less, and 16 score higher than Wave for less.
Features, ease of use and platforms, averaged
What paid plans start at, a month (each step along is roughly double) →
- The best score at each price
- Has a free plan
- No free plan
Where they differ
- Invoice Generator also covers templates and quotes and estimates.
- Wave also covers reports, bookkeeping, expense tracking and payroll.
At a glance
| Invoice Generator | Wave | |
|---|---|---|
| Pricing | Free | Free plan |
| Starts at | Free | $19 per month, billed monthly |
| Free plan | Everything on the site is free: the invoice editor and PDF download with no account, and unlimited use with no stated caps. | Starter plan: unlimited estimates, invoices, bills and bookkeeping records, a dashboard and reports, and invoicing in the mobile app. Bank transactions are entered by hand. |
| Free trial | None listed | None listed |
| Web | ||
| iOS | ||
| Android | ||
| Made by | Invoice-Generator.com | Wave Financial Inc. |
| Price read from | invoice-generator.com | waveapps.com |
| Checked | Nov 13, 2026 | Nov 9, 2026 |
Worth knowing
Invoice Generator
- It is an invoice maker, not bookkeeping: it has no ledger, bank feeds, expense tracking or tax reports.
- Without an account, downloaded invoices live only in the browser's local storage; clearing it deletes them.
- The pages read do not state any fee for card or bank payments; check the payment screen before relying on it.
Wave
- Wave describes itself as serving businesses in the US and Canada, and its pricing page shows prices only in US and Canadian dollars.
- Payroll costs $40 a month in the US plus $6 per active employee and $6 per contractor paid (Canada: $25 CAD base).
- Bank feeds, automatic reminders and most third-party integrations need Pro; Starter has no bank import.
- Live chat and email support come only with Pro or a paid add-on, Monday to Friday, 9 AM to 4:45 PM Eastern.
Key features
Invoice Generator
- Template editor
- Fill in a template that closely matches the printed invoice, choose from a long list of currencies, and add tax, shipping and discounts.
- PDF download without an account
- Invoices can be made and downloaded without signing up; they are kept in the browser's local storage.
- Send and get paid
- With an account, invoices are emailed to clients and can be paid by bank account or card; invoices are stored in the cloud.
- Other document types
- Separate generators make receipts, quotes, estimates, credit notes, purchase orders, timesheets, packing slips and more.
- Developer API
- A documented API creates invoice PDFs and UBL e-invoices from code, with an API key made in a free account.
- AI assistant links
- ChatGPT, Claude and other assistants can open a prefilled invoice from a chat, or create one in an account through MCP.
Wave
- Invoices and estimates
- Unlimited invoices and estimates on the free plan. Pro removes Wave branding, adds reusable message templates and sends automatic late payment reminders.
- Online payments
- Customers pay invoices by card or bank payment once online payments are approved; deposits can be collected through estimates.
- Bookkeeping and bank feeds
- Unlimited bookkeeping records on every plan. Pro imports bank transactions through Plaid, then merges and categorizes them.
- Receipt capture
- Receipts uploaded from the mobile app, desktop or email become records by OCR. Included in Pro, or $8 a month on Starter.
- Wave Payroll
- Pays employees and contractors, with tax filing in all 50 US states and CRA remittances in Canada. A separate add-on.
- Wave Advisors
- Wave's in-house bookkeepers can keep the books for you or coach you to do them yourself, from $149 a month.
Plans
Invoice Generator
Free$0
Unlimited invoices and other documents; an account is needed only to send invoices, store them online or get an API key.
Wave
Starter$0
Unlimited invoices, estimates, bills and records. Card payments cost 2.9% plus $0.60 each, and bank transactions are not imported automatically.
Pro$19
per month, billed monthly
Bank feeds with auto-categorizing, unlimited receipt capture, late payment reminders, more users and card fees of 2.9% with no fixed fee on the first 10 a month.
Wave Advisors$149
per month and up
Pro features plus a dedicated bookkeeper who keeps the books and prepares monthly financial statements. Mobile receipts are not included.
Ways to pay less
Invoice Generator
No public discounts listed.
Wave
- Annual discount
Save $38 with annual Pro billing
Pro costs $190 a year when billed annually, against $228 for twelve monthly payments of $19.
- Other savings
Half off Pro for the first 3 months
New Pro subscribers paying monthly on Wave's website pay $9.50 a month for the first three months, saving $28.50, then the listed $19 a month.
- Other savings
Black Friday: Wave Advisors from $134 a month
Bookkeeping plans bought from November 2 to November 30, 2026 start at $134 a month instead of $149, with up to 25% off two-year plans and $30 to $40 off coaching sessions.
Common questions
Which is cheaper, Invoice Generator or Wave?
As of Nov 13, 2026, Invoice Generator is cheaper to start with: it is free, against $19 a month for Wave. Invoice Generator is free, and Wave starts at $19 per month, billed monthly.
Which has a free plan, Invoice Generator or Wave?
As of Nov 13, 2026, both Invoice Generator and Wave have a free plan.
Which platforms do Invoice Generator and Wave run on?
As of Nov 13, 2026, only Wave lists iOS and Android apps. Both list a web app. A platform missing from a listing is one its maker's pages did not mention.
More comparisons
How this page was made
- The verdict at the top follows a fixed rule. When both tools are in the same category and either is in our top three for it, the verdict follows that ranking: the higher-placed tool is our pick. The top three weigh who each tool suits as well as its grades, so a pick can go against the GPA. Otherwise the page does not pick one and says which grades higher: the higher GPA first; on a tie, the one with a free plan, then the one that starts cheaper in dollars a month, counted the same way for both; if they are still level, what the choice depends on.
- The grades are our own, from each tool’s review or report card. The GPA is their average.
- Prices, plans and platforms come from each tool’s listing. The table above says where each price was read and when.
- The differences and the answers to the questions are worked out from those listings.