ProfitBooks vs Wave (2026): which should you pick?

Pick ProfitBooks if

• Fits if you invoice under 1,000 times a year and want GST or VAT handled
• Works for traders who need stock tracked across warehouses

Look elsewhere if

• Tight if you stay free, with 10 invoices a month and 50 customers
• Watch out: Essential caps at 1,000 invoices a year and Growth at 5,000
• Pricey if you need payroll or multi-currency, which start on Growth at $20 a month
• Watch out: unlimited invoices and warehouses are SMB Pro at $35 a month
• Watch out: WhatsApp is an add-on on Essential, and India shows separate rupee prices

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

ProfitBooks

• Prices exclude GST in India; the rupee prices are separate, such as ₹2,499 a year for Essential.
• Essential and Growth cap invoices per year (1,000 and 5,000); SMB Pro is unlimited.
• Payroll starts on Growth, and WhatsApp integration is an add-on on Essential.
• The free plan caps customers at 50, per the pricing FAQ.

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.

ProfitBooks

GST and VAT invoicing

Applies GST for India and VAT for the UAE and other countries, and picks CGST/SGST or IGST from the place of supply.

Inventory and warehouses

Stock tracking with one warehouse on Startup and Essential, three on Growth and unlimited on SMB Pro.

Bank reconciliation

Bank rules match transactions automatically, and the site lists reconciliation among the core features.

Reports and tax data

More than 45 financial reports, plus GSTR1 and GSTR3B on paid plans.

Accountant access

A CA or accountant can log in read-only, and SMB Pro adds an auditor access feature.

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.

ProfitBooks

• Startup$0

  1 user, 10 invoices and 10 journal vouchers a month, basic reports, 1 warehouse.

• Essential$9.95

  per month, billed monthly

  1 user and 1,000 invoices a year, GSTR1 and GSTR3B, invoice reminders and signature. $99 if paid yearly.

• Growth$20

  per month, billed monthly

  10 users, 5,000 invoices a year, payroll, multicurrency and 3 warehouses. $199 if paid yearly.

• SMB Pro$35

  per month, billed monthly

  25 users with custom roles, unlimited invoices and warehouses, projects and auditor access. $349 if paid yearly.

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.

ProfitBooks

• Annual discount

  Yearly billing costs less than monthly

  Yearly prices are $99, $199 and $349 for Essential, Growth and SMB Pro; the FAQ says SMB Pro yearly billing is 10 months for 12.

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.