Wave has become one of the favorite online accounting software choices for small and midsize businesses (SMBs) and enterprises. It is an easy-to-use solution with excellent accounting and invoicing features. But it lacks major capabilities, like project management, time tracking, and integrations.

If your business is growing and scaling up, you’ll need those features. Therefore, we’ve brought you the top 5 best alternatives to Wave online invoicing software.

1. Moon Invoice

When it comes to managing your business operations, especially finances and taxes, freelancers and small business owners have varying needs. Some need a way to send seamless invoices, some want to be tax compliant, and some need detailed insights into their financial operations.

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Moon Invoice was designed exactly to do that. This best alternative for Wave helps you streamline your billing and invoicing operations. It’s a lightweight accounting solution that’s packed with exciting features like billing, invoicing, reporting, tax management, and more.

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When compared with Wave, Moon Invoice is more simple, easy-to-use, and beginner-friendly. It includes all the major features of Wave, along with one added advantage – cost. It also has an intuitive, responsive, and user-friendly mobile app.

Key Features:

  • Invoicing and billing
  • Payment, time tracking, and notifications
  • Insights and reporting
  • Free professional invoice templates
  • Manage multiple businesses

Pricing: MoonInvoice offers a 7-day free trial with all the plans. It has six plans, based on the number of clients, businesses, and users. The Lite Plans starts at $2.50 per month, whereas the Gold Plus plan is priced at $20.83 per month.

2. Zoho Books

Zoho Books has been out for a while, but it hasn’t received much recognition. The software offers almost all the features included in the leading accounting systems on the list like MoonInvoice and Wave. It comes with a robust mobile app, along with excellent customer support.

Zoho Books can be an ideal solution for you if you’re a small business owner. It offers a comprehensive array of features and functionality. It enables you to streamline various financial operations like accounts receivable & payable, banking, inventory management, tax management, and more.

Top alternative to Zoho - Moon Invoice

But Zoho Books has a major drawback when compared with other names on this list. It offers limited integrations. So, you might struggle if you want to link your accounts with your CRM or ERP system. In all, Zoho Books is a great solution for freelancers and small businesses but might not go well with larger companies.

Key Features:

  • Accounts payable and receivable
  • Inventory management
  • Banking
  • Time tracking
  • Contacts and reports

Pricing: Zoho Books offers a 14-day free trial with all plans. It has three plans, based on the number of contacts, users, and automated workflows. The Basic plan is priced at $9 per month, the Standard plan at $19 per month, and the Professional Plan at $29 per month.

3. QuickBooks Online

One of the well-known names in the accounting industry, QuickBooks Online is a comprehensive online invoicing software solution suited for businesses of all sizes. It offers several features ranging from accounting and invoicing to payroll and tax support. It also offers a built-in financing option, along with various integrations.

But here’s the downside. So many features and functionalities at a glance can be overwhelming, especially for freelancers and small business owners. You’ll need a dedicated accountant to work on QuickBooks, which would increase your operational costs. Of course, don’t forget the expensive plans.

QuickBooks Online - Moon Invoice

To conclude, QuickBooks is a great invoice receipt maker software system for large businesses and enterprises. But its comprehensive features may not incline well with freelancers and small business owners.

Key Features:

  • Billing and invoicing
  • Contact management
  • Bank reconciliation
  • Project management
  • Inventory management

Pricing: QuickBooks offers a 30-day free trial on all plans. It has three plans, with advanced plans having more features. The Simple Start plan is priced at $12.50 per month, and the Advanced Plan is priced at $75 per month. There’s also a Freelancer plan priced at $7.50 per month.

4. FreshBooks

FreshBooks is the best alternative for Wave for businesses looking for a full-fledged accounting solution. For years, FreshBooks has been a go-to online invoicing software system for small and midsize companies. It is an easy-to-use, user-friendly solution that comes with incredible customer support.

It also offers an impressive suite of mobile apps. But where FreshBooks really stands out is the integrations it offers. It comes with more than 70 integrations that enable you to create a seamlessly connected business ecosystem.

FreshBooks Alternatives - Moon Invoice

But on the downside, FreshBooks is expensive. It also limits the number of users, and you’ll need to pay $10 per month to add a new user. Hence, FreshBooks might not be a good choice for small businesses looking to alleviate their operational costs.

Key Features:

  • Billing and invoicing
  • Estimates and expenses
  • Project management
  • Accounting and payments
  • Time tracking
  • Reports and analytics

Pricing: FreshBooks offers a 30-day free trial on all plans. It has three plans based on the number of billable clients and team member accounts. The Lite plan is priced at $4.50 per month, the Plus plan at $7.50 per month, and the Premium plan at $15 per month. Additional team members cost $10 per person per month.

5. Invoice Ninja

Invoice Ninja is the best alternative for Wave if you’re looking for an affordable, easy-to-use accounting system. The software comes with over 40 payment gateway integrations, a seamless interface, and excellent customer service.

Invoice Ninja - Moon Invoice

Invoice Ninja is ideal for freelancers and micro-businesses looking for a basic financial management solution. However, it might not be the right pick for SMBs and enterprises as it lacks important features and integrations.

Key Features:

  • Invoicing and estimates
  • Contact management
  • Expense tracking
  • Project management
  • Reports and analytics

Pricing: Invoice Ninja offers a forever free plan. It also offers two paid plans: Pro plan at $10 per month and Enterprise plan at $14 per month.

Conclusion

There’s nothing wrong with Wave. It’s excellent Invoice receipt maker software that allows you to manage your finances for free. But as your business grows, you’ll need a robust system with powerful capabilities. Here’s when you should start looking for Wave alternatives.