FreeAgent vs Wave: Complete Comparison 2026
An in-depth comparison of features, pricing, and user experience to help you make the right choice.
FreeAgent
8.0(2,800 reviews)
UK cloud accounting built for freelancers and micro-businesses. Free for NatWest/RBS business account holders.
Wave
8.0(5,600 reviews)
Free accounting software for small businesses with invoicing, receipts, and financial reporting.
Quick Comparison
| Aspect | FreeAgent | Wave |
|---|---|---|
| Best For | UK freelancers and sole traders | Bootstrapped startups and new businesses |
| Pricing Model | Subscription | Freemium |
| Starting Price | $19/mo | Free |
| Deployment | cloud | cloud |
| Platforms | WEB, IOS, ANDROID | WEB, IOS, ANDROID |
| Rating | 8.0/10 | 8.0/10 |
Pros & Cons
FreeAgent
Pros
- UK tax compliance is exceptional - Self Assessment, VAT, Corporation Tax all handled
- Free for NatWest, RBS, and Ulster Bank business customers
- Built-in time tracking that connects directly to invoicing
- Multi-currency support handles international client billing well
- Interface is genuinely easy to learn for non-accountants
Cons
- You'll outgrow it if your team passes 10 people
- No purchase order or inventory management system
- Reporting is basic compared to Xero or QuickBooks
- Limited usefulness outside the UK due to tax specificity
- No payroll for employees beyond director payroll
Wave
Pros
- Core accounting is genuinely free
- Full double-entry accounting
- No artificial limitations or trials
- Good for cash-strapped startups
Cons
- No inventory management
- Limited integrations
- Basic customer support
- May outgrow it as you scale
Pricing Comparison
| Product | Pricing Model | Starting Price |
|---|---|---|
| FreeAgent | subscription | $19/mo |
| Wave | freemium | Free0 |
Our Verdict
Choose FreeAgent if...
UK freelancers and sole traders
Choose Wave if...
Bootstrapped startups and new businesses
Still Not Sure?
Explore more alternatives or read in-depth reviews to make your decision.