Is Wave still free in 2026?

Wave Starter remains free — unlimited invoices, basic bookkeeping, mobile app, read-only bank connection. However, Wave Pro at $16–19/month is required for bank reconciliation and auto-import, which most consultants past the first 20 invoices per year will want. The free tier is real and useful, but Wave is no longer fully free for operators who need reconciliation.

Is FreshBooks worth it for a solo consultant?

FreshBooks Plus at $33–43/month is worth it for solo consultants who bill hourly, run monthly retainers, or need recurring billing automation. The time-tracking-to-invoice flow and recurring billing justifies the price over Wave. FreshBooks Lite at $19/month has a hard 5-client cap that limits its usefulness for most solos.

What is the cheapest invoicing software for consultants?

Wave Starter at $0/month is the cheapest option for consultants sending under 20 invoices per year with no time tracking or recurring billing needs. The 2.9% + $0.60 payment processing fee is the actual cost. For consultants in an all-in-one platform (HoneyBook, Copilot, 17hats), the invoicing is already paid for.

Does Wave have time tracking?

No. Wave does not have native time tracking at any tier. If you bill hourly or need to track project time and convert it to invoices, FreshBooks is the correct choice.

Compare · Billing Layer · Brief 20

FreshBooks vs Wave
for Solo Consultants.

This is a stage-of-business decision, not a feature comparison. Wave is the right answer for solos still in setup mode — and it's no longer fully free. FreshBooks is the right answer when you've hit a ceiling on Wave and need time tracking, recurring billing, or a tighter proposal-to-invoice loop. Updated May 2026 with verified pricing.

Updated: May 2026 · 15 min read · Pricing verified

The pricing reality in 2026

Wave changed. Many consultants are working from outdated assumptions.

Wave's free tier remains real and useful — Wave Starter sends unlimited invoices at $0/month. But the 2023+ changes mean most consultants past the first 20 invoices per year will need Wave Pro at $16–19/month for bank reconciliation and auto-import. Meanwhile, FreshBooks Lite at $19/month has a hard 5-client cap that catches most consultants off guard. The honest comparison is Wave Pro ($16–19) vs FreshBooks Plus ($33–43).

Plan	Wave	FreshBooks
Free / entry	Wave Starter — $0. Unlimited invoices, basic bookkeeping, mobile app, read-only bank connection.	Lite — $19/mo. 5 billable client cap. Unlimited invoices within that cap.
Standard paid	Wave Pro — $16–19/mo. Bank reconciliation, auto-import, advanced reports, priority support. First 10 transactions/mo at 2.9%+$0 (no per-transaction fee).	Plus — $33–43/mo. 50 billable clients, proposals with e-sign, recurring billing, double-entry accounting.
Time tracking	✗ None at any tier	✓ Native, converts to invoice line items in one click
Recurring billing	Limited — basic repeat invoices only	✓ Full retainer support, auto-charge on stored card (with consent)
Payment processing	2.9% + $0.60 (Starter); 2.9% + $0 on first 10/mo (Pro)	2.9% + $0.60 credit; 1% ACH bank payment
Realistic solo monthly cost	$0 (Starter) or $16–19 (Pro)	$19 (Lite, 5 clients) or $33–43 (Plus)

The plain-language read

The honest bracket for most solos comparing these two tools is Wave Pro ($16–19) vs FreshBooks Plus ($33–43). FreshBooks costs roughly double. The question is whether time tracking, recurring billing, and the proposal-to-invoice flow justify the price delta for your practice model.

What each tool does well

Five strengths each — and where each one falls short.

Wave's five strengths

Best at: low-overhead, clean invoicing at any scale

✓Genuinely usable free tier — unlimited invoices at $0
✓Fast setup — invoice-ready in under 10 minutes
✓Basic bookkeeping built in — P&L reports, receipt capture
✓Wave Pro discounted processing — first 10/mo at 2.9%+$0
✓Clean mobile app for invoicing on the go

Where Wave falls short

✗No time tracking at any tier
✗Weak recurring billing for retainer clients
✗No proposal templates or e-signature flow
✗Thinner integration ecosystem than FreshBooks

FreshBooks's five strengths

Best at: time billing, recurring retainers, proposal flow

✓Time tracking native — track → invoice in one click
✓Recurring billing — auto-charge on stored card (with consent)
✓Proposals + e-sign + invoice in one flow (Plus)
✓Mature ecosystem — HubSpot, Pipedrive, Stripe, Square, Bench
✓Light client portal — clients view invoices, pay outstanding balances

Where FreshBooks falls short

✗Lite caps at 5 billable clients — a hard wall
✗No free tier — 30-day trial only
✗Add-on creep — team seats, advanced payments, payroll all stack
✗Double-entry accounting paywalled to Plus ($33–43/mo)

The decision framework

Four questions in order.

Do you bill hourly or have any time-based billing?

Yes → FreshBooks. Wave has no time tracking. This is a hard disqualifier. The time-tracking-to-invoice flow in FreshBooks is the single biggest workflow win in the billing layer for hourly consultants. No → Q2.

Do you have monthly retainer clients needing recurring billing?

Yes → FreshBooks Plus. Wave's recurring billing is too limited for serious retainer management. Auto-charge on stored card, retainer-friendly. No → Q3.

Do you send more than ~20 invoices per year and need reconciliation?

Yes → Wave Pro ($16–19) or FreshBooks Lite ($19). Roughly cost-equivalent. Choose Wave Pro if under 5 active billable clients. FreshBooks Lite if more (but beware the 5-client cap on Lite). Under 20 invoices per year → Wave Starter ($0), indefinitely. No → stay on Wave Starter.

Are you using an accountant who needs clean double-entry reports?

Yes, and they want QuickBooks-style reports → FreshBooks Plus. Wave Pro's reporting is solid but not double-entry. If your CPA is comfortable with whatever you export → either is fine at this stage.

Where invoicing fits in your OS

The billing closure layer. Wired correctly, it isn't a manual step.

The billing layer closes the loop from acquisition to paid. Wired with Make or Zapier, it shouldn't require any manual trigger — the deal winning in your CRM fires the invoice, and the invoice paid fires the onboarding sequence. The tool choice matters far less than this wiring.

Trigger

Automation fires

Deal → Won (CRM)

Make creates draft invoice in Wave or FreshBooks with project name and amount

Invoice sent

HubSpot/Pipedrive deal note updated: "Invoice sent [date]"

Invoice paid

CRM deal marked "Paid" → onboarding sequence fires → Notion workspace created

14-day overdue

Make fires polite follow-up email via Kit/ActiveCampaign + HubSpot task

For the wiring: Make vs Zapier → · For the CRM layer: Pipedrive Review → or Notion CRM Setup →

Recommended configurations

Five archetypes with specific picks.

Early-stage · under 10 invoices/yr · no retainers

Wave Starter ($0/mo)

Indefinitely. No caps, no time pressure. The 2.9% + $0.60 processing fee is the real cost per transaction — identical to Stripe direct.

Retainer model · monthly recurring clients

FreshBooks Plus ($33–43/mo)

Auto-charge on stored card, recurring invoice automation, 50-client cap (ample). The time-savings on monthly billing alone covers the subscription cost by month two.

Hourly biller · time-to-invoice workflow matters

FreshBooks Plus ($33–43/mo)

The single clearest FreshBooks use case. Track time by project → convert to invoice line items in one click. No workaround in Wave for this workflow.

Fixed-fee, project-based · 20+ invoices/yr

Wave Pro ($16–19/mo)

Bank reconciliation, clean reports, auto-import. Half the price of FreshBooks Plus. The right answer when time tracking isn't needed and the budget is a genuine constraint.

Already on HoneyBook / Copilot / 17hats / SuiteDash

Neither — use the invoicing built into your platform.

Adding a second invoicing tool creates reconciliation friction. Your all-in-one already handles billing. The only reason to override this is if the built-in invoicing has a specific capability gap your practice needs. See HoneyBook vs Copilot vs 17hats →