How we make this list: we compare pricing pages, product documentation and public user reviews. Ratings come from G2, Capterra or Trustpilot, with the date we checked them.
Key takeaways
- QuickBooks and Xero are the default replacements, with the largest ecosystems and accountant networks.
- Zoho Books is the best free-tier option, with a genuinely free plan for solopreneurs and micro businesses.
- Akaunting is the free open-source option, with self-hosted software and no limits on invoices.
- FreeAgent suits UK businesses with Making Tax Digital compliance, while Sage Intacct targets larger, scaling teams.
- Bench is different from the rest: a done-for-you bookkeeping service with a dedicated human bookkeeper, not just software.
Quick comparison
| Tool | Best for | Starting price | Free plan |
|---|
 QuickBooks | All-round accounting | See website | See website |
 Xero | Growing small businesses | $27/month | See website |
 FreshBooks | Invoicing and services | See website | See website |
 Zoho Books | Free tier value | Free | Yes |
 FreeAgent | UK small businesses | £33/month | 30-day trial |
 Sage | Scaling finance teams | See website | See website |
 Akaunting | Free open source | Free | Yes |
 Bench | Done-for-you bookkeeping | $199/month | See website |
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
The best Wave accounting alternatives
Starting priceSee website
Free planSee website
QuickBooks calls itself smart tools for better business, and its homepage shows the breadth: cleaner books, faster payments, and confident decisions, with Intuit Intelligence automating recurring tasks, drafting invoices, and sending payment reminders. Its platform covers accounting, marketing, customer hub, sales, expenses, payroll, team management, project management, inventory, and sales tax.
For Wave users who want the most capable, most widely supported replacement, QuickBooks is the default, and accountants almost universally know it. The trade-off is cost and complexity: Wave was free, while QuickBooks charges monthly, so compare tiers against your actual transaction volume before committing.
What we like- Trusted by 10 million businesses worldwide
- Covers accounting, payroll, inventory, sales tax, and lending in one platform
- 800-plus integrations and Intuit Intelligence automation
Watch out for- Pricing is tiered and can climb with add-ons
- US-centric features and support
#2Xero
Best for: Growing small businesses4.4/5 on
G2 (1,832 reviews, checked Oct 2026)
Visit xero.com
Starting price$27/month
Free planSee website
Xero describes itself as accounting software for small businesses, built for the way US businesses work, with an AI assistant called JAX handling routine tasks and answering business questions. Its homepage lists clear tiers: Early at $27 per month after a $2.70 introductory rate for 6 months, Growing at $59 after $5.90, and Established at $97 after $9.70, with features scaling from 20 invoices and 5 bills on Early to multi-currency, projects, and 180-day cash flow forecasts on Established.
For growing businesses that want clean design and strong bank reconciliation, Xero is the best QuickBooks rival, with a gentler learning curve. Watch the introductory pricing: rates rise significantly after 6 months, so budget on the full rate.
What we like- Used by 5 million customers worldwide
- Early plan at $27 per month after an introductory period
- AI assistant JAX, smart document capture, and free standard ACH bill payments
Watch out for- Payroll and advanced features cost extra on higher tiers
- Introductory pricing rises after 6 months
Starting priceSee website
Free planSee website
FreshBooks calls itself invoice and accounting software for small businesses, and its homepage highlights the service-business focus: free onboarding support with a specialist, invoicing and expense tracking built around getting paid faster, and claims of saving up to 553 hours per year. Its AppStore offers 100-plus integrations, from Zapier and Gusto to Square and HubSpot.
For freelancers and service businesses whose main job is invoicing and getting paid, FreshBooks is the friendliest Wave replacement, with less accounting complexity than QuickBooks. Businesses needing deep inventory or multi-entity accounting should choose a fuller platform instead.
What we like- Built for service businesses with invoicing, expense tracking, and faster payments
- 500,000-plus small businesses served
- 100-plus app integrations and free onboarding support
Watch out for- Homepage is thin on pricing detail, so quotes require a pricing page visit
- Full accounting depth trails QuickBooks and Xero
#4Zoho Books
Best for: Free tier value4.4/5 on
G2 (329 reviews, checked Oct 2026)
Visit zoho.com
Starting priceFree
Free planYes
Zoho Books calls itself powerful accounting software for your business, and its homepage makes the value case clearly: a free tier at $0 per organization per month billed annually for solopreneurs, Standard at $15, Professional at $40, Premium at $60, Elite at $120, and Ultimate at $240. Its features span receivables, payables, inventory, projects, and reports, with AI in accounting through Zia, multi-currency support, and free migration from other accounting solutions.
For Wave users seeking a free or low-cost replacement, Zoho Books is the best pick, since its free tier covers genuine small-business needs rather than just a trial. Note that prices are exclusive of local taxes, and the free tier suits micro businesses rather than larger teams.
What we like- Free plan for solopreneurs and micro businesses
- Standard from $15 per month billed annually
- AI assistant Zia, multi-currency, inventory, projects, and free migration from other tools
Watch out for- Zoho ecosystem lock-in grows with usage
- Advanced features require higher tiers up to $240 per month
Starting price£33/month
Free plan30-day trial
FreeAgent describes itself as accounting software for every small business, and its homepage leads with UK compliance: Making Tax Digital done, Self Assessment done, VAT done, with up-to-date tax calculations and a clear view of what is due and when. Its pricing is straightforward: £33 per month billed monthly, or £165 per year billed annually, both currently 50 percent off for the first six months or year, with prices excluding 20 percent VAT.
For UK freelancers and small businesses, FreeAgent is the best Wave replacement, since its HMRC integration removes tax filing friction that US tools cannot match. US businesses should skip it in favor of QuickBooks, Xero, or Zoho Books.
What we like- HMRC-recognised end-to-end solution for Making Tax Digital for Income Tax
- VAT and Self Assessment filing directly to HMRC
- 30-day free trial and free accounts for NatWest, RBS, Ulster Bank, and Mettle customers
Watch out for- UK-focused, so US businesses should choose a US-centric tool
- Pricing in pounds with 20 percent VAT excluded
Starting priceSee website
Free planSee website
Sage describes its high-performance finance software as helping finance teams confidently drive growth with AI automation, insights, and connected workflows. Its homepage centers Sage Intacct, which automates up to 90 percent of manual tasks, offers up to 5X payback in as little as 6 months, and provides built-in audit trails and controls, with finance AI agents automating tasks and surfacing insights.
For businesses outgrowing Wave and small-business tools, Sage Intacct is the scaling pick, with multi-entity accounting and real-time visibility. Small businesses will find its enterprise positioning and unclear small-business pricing a mismatch, so it fits teams already approaching mid-market scale.
What we like- High-performance finance software with AI automation and connected workflows
- Sage Intacct closes up to 90 percent faster with multi-entity accounting
- Trusted by 30,000-plus scaling and midsized teams
Watch out for- Homepage focuses on Sage Intacct for larger teams, so small-business pricing is unclear
- Enterprise-oriented and quote-led
Starting priceFree
Free planYes
Akaunting calls itself free accounting software for small businesses, and its homepage is refreshingly direct: the Standard plan of the on-premise, self-hosted version is free in price and freedom, with source code available. Its features cover payments, invoices, expenses, cash flow, transaction categories, and online access from any device, with a global user base across 100-plus countries.
For Wave users who want a truly free replacement with no subscription, Akaunting is the best open-source pick, and its invoice volume claims show real-world use at scale. The cost is self-hosting: installation, updates, backups, and security are your team's job, unlike cloud tools that handle operations for you.
What we like- Completely free self-hosted Standard plan with source code available
- 300,000-plus users across 100-plus countries
- 10 million-plus invoices sent with no limits
- Translated into 50-plus languages
Watch out for- Self-hosted setup and maintenance fall on your team
- Fewer integrations and less accountant support than commercial tools
#8Bench
Best for: Done-for-you bookkeeping4.2/5 on
G2 (77 reviews, checked Oct 2026)
Visit bench.co
Starting price$199/month
Free planSee website
Bench describes itself as online bookkeeping done for you, and its homepage explains the model: a dedicated bookkeeper does your books, simple software keeps financials at your fingertips, and you get monthly books, year-end financials, and taxes. Its pricing is transparent: Bookkeeping Light from $199 per month for businesses up to $250,000 in revenue, Bookkeeping from $399, and Bookkeeping plus Tax from $649, all 100 percent tax-deductible, with annual plans saving 20 percent.
For Wave users who never wanted to do bookkeeping themselves, Bench is the best alternative, replacing software plus effort with a human service. Owners who enjoy hands-on control or have very low transaction volumes will find DIY tools cheaper, but busy owners will value the time returned.
What we like- Dedicated human bookkeeper does your books monthly
- Year-end tax-ready financials and tax filing options
- Trusted by 35,000-plus business owners with 1,000-plus five-star Trustpilot reviews
Watch out for- Service, not just software, so it costs more than DIY tools
- Less hands-on control for owners who like doing their own books
How we chose
We compared accounting tools on vendor homepages, weighing pricing transparency, free tiers, invoicing and expense features, tax compliance, inventory and payroll depth, and ecosystem support. We favored tools with live homepages and current offerings, and we included both software and a done-for-you service because Wave buyers range from DIY freelancers to owners who want bookkeeping handled. Note that this article compares software features and prices, not financial advice: consult an accountant for tax and business structure decisions.
What to check before you commit
Start with your transaction volume and tax needs. Freelancers with few invoices can use Zoho Books free tier or Akaunting, while growing businesses need Xero or QuickBooks tiers matched to invoice and bill counts. UK businesses should prioritize FreeAgent's HMRC compliance, and US businesses should confirm sales tax and 1099 support.
Next, test bank reconciliation and invoicing on your real accounts. Connect your bank, import a month of transactions, and send a test invoice before migrating, since reconciliation quality varies more than marketing suggests. Include your accountant in the trial, since their familiarity with the tool affects year-end costs.
Finally, price the full year, not the introductory rate. Xero's rates rise after 6 months, FreeAgent's discount ends after 6 or 12 months, and Bench's annual plans save 20 percent. Model your second-year cost, including payroll, inventory, and multi-currency add-ons, before signing.
Frequently asked questions
What is the best Wave Accounting alternative overall?
QuickBooks for the largest ecosystem, Xero for growing businesses, and Zoho Books for free-tier value. For a truly free open-source option, Akaunting leads, while Bench leads for done-for-you bookkeeping.
Is there a free Wave alternative?
Yes. Zoho Books offers a free plan for solopreneurs and micro businesses, and Akaunting is free and open source for self-hosting. Both cover invoicing, expenses, and reports without a subscription.
Which alternative is best for UK businesses?
FreeAgent, with HMRC-recognised Making Tax Digital compliance, VAT and Self Assessment filing, and free accounts for NatWest, RBS, Ulster Bank, and Mettle customers. Its pricing is in pounds and excludes 20 percent VAT.
Which alternative is best for freelancers?
FreshBooks for service-based invoicing and getting paid faster, or Zoho Books free tier for the lowest cost. Both suit low-volume freelancers better than enterprise tools such as Sage Intacct.
Does Bench replace accounting software?
Bench includes software plus a dedicated bookkeeper who does your books monthly, so it replaces both the tool and the effort. It also works inside your existing QuickBooks account if you prefer to keep your current system.
Which alternative handles inventory?
QuickBooks, Xero on Established tier, Zoho Books on Professional and above, and Sage Intacct all handle inventory. Akaunting covers basic inventory tracking, while FreshBooks and Bench focus more on invoicing and bookkeeping.
Sources we checked (8)
- https://quickbooks.intuit.com
- https://www.xero.com
- https://www.freshbooks.com
- https://www.zoho.com/books/
- https://freeagent.com
- https://www.sage.com
- https://akaunting.com
- https://bench.co
Is your product missing or out of date?
We review this list regularly. Vendors can request a listing, send updated pricing or ask about featured placement.
Shihab Mia · Founder, Rankite
Shihab has 5+ years in B2B and SaaS SEO. He writes Rankite's software buying guides from pricing pages, documentation and public user reviews. More about Shihab.