Compare FreeAgent and Wave Accounting - Nov 2022

Shlomi LaviShlomi Lavi / Nov 10, 2022

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Bottom Line: Which is Better - FreeAgent or Wave Accounting?

Wave Accounting is more expensive to implement (TCO) than FreeAgent, and Wave Accounting is rated higher (97/100) than FreeAgent (85/100). FreeAgent offers users more features (9) than Wave Accounting (5).

Looking for the right Core Accounting solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:

FreeAgent Vs. Wave Accounting

FreeAgent: FreeAgent launched in 2007, hewn from the frustration that managing company finances was just too damn hard for most small businesses and freelancers. Since then we’ve doggedly stuck to our mantra of demystifying accounting and redefining the relationship people have with their finances.

Wave Accounting: Wave Accounting is an awesome, cloud-based, integrated software and tools for small businesses. So far, that includes Invoicing, Accounting, Payroll, Payments and more, plus Personal Finance Software, too.

Who is more expensive? FreeAgent or Wave Accounting?

The real total cost of ownership (TCO) of Core Accounting software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for FreeAgent and Wave Accounting.

FreeAgent price starts at $12 per month , On a scale between 1 to 10 FreeAgent is rated 2, which is much lower than the average cost of Core Accounting software. Wave Accounting accurate pricing info is available upon request (they don't share it publicly), however , On a scale between 1 to 10 FreeAgent is rated 2, which is much lower than the average cost of Core Accounting software.

Bottom line: Wave Accounting is more expensive than FreeAgent.

Which software includes more/better features?

We've compared FreeAgent Vs. Wave Accounting based on some of the most important and required Core Accounting features.

FreeAgent: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Project-Accounting, Purchase Orders, Tax compliance, Recurring Invoices.

Wave Accounting: Accounts Payable, Accounts Receivable, Balance Sheet, Billing & Invoicing, Tax compliance.

Target customer size

The target market of FreeAgent is Freelancers and small businesses. Wave Accountancy is perfect for small to medium companies with 9 or much less workers.



FreeAgent

ITQlick rating
(4.4/5)

starts at $12 per month

FreeAgent is an accounting software based on the cloud designed for micro businesses and freelancers. The software dashboard brings all finances together into one place, exports your key tax payment and invoice...

Categories: Fixed Asset Management, Recurring Billing, Billing & Invoicing, Budgeting & CPM.

Wave Accounting

ITQlick rating
(4.4/5)

Wave Accounting software is a fully integrated, web-based accounting solution tailored exclusively for small organizations. The software allows the users to access their documents any time from anywhere.

Categories: Accounting & Finance, Core Accounting, Medical Accounting.

Compare specifications

Compare features

FreeAgent: 9 Features

Accounts Payable
Accounts Receivable
Billing & Invoicing
Budgeting & Forecasting
Project-Accounting
Purchase Orders
Tax compliance
Recurring Invoices
Time and Expense Tracking

Wave Accounting: 5 Features

Accounts Payable
Accounts Receivable
Balance Sheet
Billing & Invoicing
Tax compliance
ITQlick rating ITQlick Rating is based on the software score (below) and aggregated online reviews
ITQlick score ITQlick Score is a 1 to 100, the calculation is based on pricing, and functionality Vs. alternative solutions
Pricing score pricing Score is a 1 to 10 (10 is high cost), based on the TCO (cost of licences, customizations, training, hardware when relevant) Vs. alternative solutions
License pricing license pricing (if provided by the software vendor)
Functionality score
Software review
Compare
FreeAgent
ITQlick rating
4.4/5
Score
85/100
Pricing
2.4/10
License pricing
$12 per month
Functionality
24
Compare
Wave Acc...
ITQlick rating
4.4/5
Score
97/100
Pricing
5.6/10
License pricing
Pricing not available
Functionality
8
QuickBoo...
ITQlick rating
4.2/5
Score
99/100
Pricing
5/10
License pricing
$12.50 per month
Functionality
7
Zoho Boo...
ITQlick rating
4.4/5
Score
96/100
Pricing
2.4/10
License pricing
$10 per organizer/month
Functionality
9
FreshBooks
ITQlick rating
4.5/5
Score
95/100
Pricing
2/10
License pricing
$6 per month
Functionality
28

Auditor - Shlomi Lavi

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Shlomi Lavi is an entrepreneur and founder of ITQlick.com. He holds a Bachelor of Science (B.Sc.) in Information Systems Engineering from Ben Gurion University in Israel. Shlomi brings 17 years of global IT and IS management experience as a consultant and implementation expert for small, medium and large-sized (global) companies. Shlomi’s goal is to share the best knowledge and news about information systems so you can make smarter buying decisions for your business.