Compare Wave Accounting and FreeAgent - Nov 2022

Shlomi Lavi

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

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:

Wave Accounting Vs. FreeAgent

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.

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.

Who is more expensive? Wave Accounting or FreeAgent?

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 Wave Accounting and FreeAgent.

Wave Accounting accurate pricing info is available upon request (they don't share it publicly), however , On a scale between 1 to 10 Wave Accounting is rated 4, which is lower than the average cost of Core Accounting software. FreeAgent price starts at $12 per month , When comparing FreeAgent to its competitors, the software is rated 2 - much lower than the average Core Accounting software cost.

Bottom line: Wave Accounting is more expensive than FreeAgent.

Which software includes more/better features?

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

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

FreeAgent: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Project-Accounting.

Target customer size

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