Wave

Actually Free

Wave's accounting software is genuinely free - unlimited invoicing, accounting, receipt scanning, and reporting. No credit card required, no time limits. They monetize through payment processing and payroll services, not the core accounting.

What You Get

Double-entry accounting, bank connections, invoicing, receipt scanning, and financial reports. For a free product, the features are surprisingly comprehensive. It's real accounting software, not a toy.

The Business Model

Wave makes money when you accept payments through them (2.9% + 30 cents) or use their payroll service. The accounting software is the free hook that gets businesses using paid services.

Honest Limitations

No inventory management. Limited integrations compared to QuickBooks. Customer support is minimal on free accounts. If you need more, you'll eventually migrate. But as a starting point or for simple businesses, free is powerful.