⚡ Quick Verdict:
- Pricing: Wave has a free starter plan with a Pro plan at $19/month. Quicken plans start at $2.99/month.
- Best for: Wave fits small business owners and freelancers. Quicken fits personal finance and investment tracking.
- Key difference: Wave is free accounting software for invoicing. Quicken is paid personal finance software.
- Our pick: Wave for most small business owners. It handles invoicing and bookkeeping at no upfront cost.
Wave vs Quicken solve two different money problems.
One is small business accounting software. The other is personal finance software.
Wave focuses on invoicing and bookkeeping for small business owners.
Quicken focuses on budgets, bank accounts, and investment accounts for personal use.
Picking the wrong one wastes both money and time.
This Wave review and comparison breaks down both tools so you choose with confidence.
Overview
From the beginning, this Wave accounting review and Quicken review covers pricing, key features, and ease of use.
We also evaluate the details and break down who each tool works best for.
Our writers signed up for both and explored the dashboards firsthand.
Those notes appear in the “What Our Team Noticed” sections below.
By the end, you will know which fits your finances.
What is Wave?
Wave Financial is free accounting software for small business owners.
It supports over 2 million small businesses with money management features across two plans.
The free platform includes unlimited invoices, expense tracking, and basic reports.
Wave is cloud-based, so you reach your data from any device.
It fits freelancers and service-based businesses with no accounting background.
Wave
Wave is free accounting software for freelancers and small businesses. It handles invoicing, expense tracking, and basic financial reports.
Wave Pricing
Here is what Wave costs in 2026. Let us break it down.
| Plan | Price | Best For |
|---|---|---|
| Starter Plan | $0 | Freelancers and solopreneurs |
| Pro Plan | $19/month | Growing small business owners |
Pricing verified May 2026.
Free trial: The Starter plan is free forever. No credit card is needed to sign up.
Money-back guarantee: The free plan carries no risk. Pro is billed monthly or $190 annually.
📌 Note: Wave eliminates monthly fees for core accounting. The paid Pro plan adds the ability to auto import bank transactions and unlimited digital receipt capture, with only minor additional costs.
⚠️ Warning: Wave charges transaction fees for payment processing. Expect 2.9% + $0.60 per credit card transaction and 1% for bank payments.
Key Benefits of Wave
Here is what makes Wave worth considering:
- Free Accounting Core: The free starter plan covers unlimited invoices, expense management, and basic reporting. There are no monthly fees for core bookkeeping records.
- Unlimited Users: Wave allows unlimited users for free, so multiple users can work in one account. You can also manage multiple companies under one account.
- Smart Invoicing: Create recurring invoices and send automated payment reminders. You can accept online payments through Apple Pay and credit card.
- Receipt Scanning: The mobile app captures receipts and syncs expense data. This supports clean digital receipt capture for tax time.
- Payroll Add-On: Wave payroll handles direct deposit so any active employee or independent contractor paid through the system gets funds in two business days. Automated tax filing in 14 states helps, giving peace of mind at tax time.
- Bank Security: Wave uses up to 256-bit TLS encryption and PCI Level 1 compliance. This protects your bank accounts and sensitive data.
What Our Team Noticed
Our writer signed up for Wave and spent several days inside the dashboard. Here is what stood out:
Wave Pros & Cons
✅ Pros
- Free starter plan with unlimited invoices and expense tracking
- Clean, intuitive dashboard that shows cash flow at a glance
- Unlimited users and support for multiple companies
- Double-entry accounting that accountants appreciate
❌ Cons
- Limited customer support on the free version, mostly help center and chatbot
- No built-in time tracking, inventory management, or purchase orders
- Some users report glitches with bank connections and delayed payouts
What is Quicken?
Quicken software is personal finance software for individuals and families.
It started at Intuit, then moved to H.I.G. Capital, and later Aquiline Capital Partners in 2021.
The Quicken brand has served over 20 million customers across four decades and keeps planning for the future.
It connects bank accounts, investment accounts, and credit cards in one place.
Quicken is sold only in the United States and Canada, in English.
Quicken
Quicken is personal finance software for budgeting and investments. It tracks bank accounts, investment accounts, and rental properties.
Quicken Pricing
Here is what Quicken costs in 2026. Quicken uses an annual subscription model.
| Plan | Price | Best For |
|---|---|---|
| Quicken Simplifi | $2.99/month | Mobile budgeting and spending trends |
| Quicken Business & Personal | $3.99/month | Mixed business personal finances |
Pricing verified May 2026.
Free trial: Quicken has no free plan. You can try any plan for 30 days with a money-back guarantee.
Money-back guarantee: Returns are accepted within 30 days of purchase for a full refund.
📌 Note: Simplifi by Quicken starts at $2.99/month when billed annually. Higher Classic tiers like Quicken Deluxe, Quicken Premier, and Quicken Home & Business add deeper tools, and Quicken Business & Personal mixes both. A discounted rate currently applies through Quicken sales promotions. The user interface gives one view of accounts and upcoming bills.
⚠️ Warning: Many users feel the annual subscription is expensive. The subscription is now required to keep bank download functionality working.
Key Benefits of Quicken
Here is what makes Quicken worth considering:
- Full Financial Picture: Quicken connects thousands of bank accounts, investment accounts, and credit cards. It gives you a single source of truth for your money.
- Investment Tracking: Quicken is one of the best tools for monitoring stocks, retirement accounts, and net worth. It supports tax-loss harvesting insights.
- Lifetime Planner: This feature helps you set and adjust savings goals over time. It supports long-term retirement planning.
- Rental Property Tools: Landlords can track security deposits and property maintenance expenses. This suits owners of rental properties.
- Business Invoicing: Quicken Business & Personal offers invoicing with reminders for unpaid invoices. It separates business finances from personal ones.
- Strong Security: Quicken uses 256-bit encryption and multi factor authentication. It partners with FDIC-backed banks when syncing bank accounts.
What Our Team Noticed
Our writer set up Quicken across desktop and the mobile app. Here is what stood out:
Quicken Pros & Cons
✅ Pros
- Deep investment tracking for stocks, retirement, and net worth
- Lifetime Planner for long-term financial goals
- Rental property and tax tools for complex needs
- Available on Windows, Mac, iOS, and Android
❌ Cons
- Steep learning curve that can overwhelm new users
- Users report frequent broken bank connections needing manual updates
- No free version, and the annual subscription feels expensive to many
Feature Comparison
Ready to dive into a detailed comparison of Wave vs Quicken?
We will explore eight key features to help you pick the right platform.
| Feature | Wave | Quicken |
|---|---|---|
| Starting Price | $0 (Free) | $2.99/month |
| Free Plan | ✅ | ❌ |
| Invoicing | ✅ | ✅ (Business) |
| Expense Tracking | ✅ | ✅ |
| Investment Tracking | ❌ | ✅ |
| Payroll Processing | ✅ (Add-on) | ❌ |
| Rental Property Tools | ❌ | ✅ |
| Mobile App | ✅ | ✅ |
| Best For | Small business owners | Personal finance |
1. Invoicing
Wave: Wave makes invoicing simple. You create customizable, unlimited invoices and track payment flows and open invoices. The invoicing software also schedules recurring billing and sends automatic payment reminders to customers.
Quicken: Quicken offers invoicing features inside its Business & Personal tier. You can schedule reminders for unpaid invoices. The invoicing features are basic compared to Wave’s dedicated invoicing tools.
2. Expense Tracking
Wave: Wave handles expense tracking with bank account connections that pull transactions automatically. The mobile receipt capture service lets you scan receipts and sync expense data. This reduces manual entry for small business owners.
Quicken: Quicken provides tools for expense tracking, budgeting, and net worth analysis. You can monitor budgets, check balances, and scan receipts into the app. A spending watchlist flags categories that drift over budget.
3. Bank Connections
Wave: Wave lets you connect bank accounts to sync transactions automatically. Automatic bank transaction imports sit in the paid Pro plan. The auto merge feature helps reconcile records, though some users report glitches with bank syncing.
Quicken: Quicken links transactions across thousands of bank accounts and credit card accounts. It partners with FDIC-backed banks when syncing bank accounts. Users have reported broken bank connections that need constant re-authentication.
⚠️ Warning: Both tools see occasional bank connection issues. Test your main bank before committing to a paid plan or subscription level.
4. Online Payments
Wave: Wave lets you accept online payments directly on invoices. Customers pay by credit card, bank transfer, or Apple Pay. Payment processing carries a fee of 2.9% + $0.60 per credit card transaction and 1% for bank transactions.
Quicken: Quicken focuses on bill tracking and bill pay rather than accepting customer payments. It manages outgoing payments and due dates. It is not built to collect credit card payments from clients.
5. Investment Tracking
Wave: Wave is small business accounting software, not personal finance software. It does not track investment accounts or portfolios. Wave focuses on cash flow, income, and expenses for your business.
Quicken: Quicken shines here. It is considered one of the best tools for monitoring stocks, retirement accounts, and net worth. It records purchase dates and prices and categorizes investment transactions by type.
6. Payroll and Tax Filing
Wave: Wave offers payroll for an added fee. It files taxes and pays any active employee or independent contractor via direct deposit in two business days. Wave provides automated W2 and 1099 tax form generation and tax filing in 14 states.
Quicken: Quicken does not run payroll. Its tax help focuses on personal returns, with deeper schedules in higher Classic tiers. For accounting and payroll in one place, Wave is the stronger fit.
7. Financial Reports
Wave: Wave generates balance sheets and income statements with its double-entry general ledger. The financial reports cover the basics well. It lacks advanced budgeting and forecasting tools for complex businesses.
Quicken: Quicken offers richer reporting for personal finance. You can filter by date range and dig into spending, net worth, and retirement. Users who want superior reporting often pick Quicken for that depth.
8. Mobile App
Wave: The Wave mobile app lets you send invoices and track expenses on the go. It keeps the same ease of use as the desktop version. Receipt scanning works straight from your phone camera.
Quicken: Quicken has companion mobile apps for iOS and Android. Simplifi by Quicken is an app-first tool built for mobile users focused on daily spending trends. You can check balances and scan receipts in the app.
9. Pricing & Cost
Let us compare the pricing plans side by side.
| Plan | Wave | Quicken |
|---|---|---|
| Free | $0 Starter Plan | ❌ No free plan |
| Entry Paid | $19/month Pro | $2.99/month Simplifi |
| Business Tier | $19/month Pro | $3.99/month Business & Personal |
| Payroll Add-On | $40/month + $6 per person | ❌ Not offered |
Wave: Wave wins on upfront cost. The free starter plan covers invoicing and bookkeeping with no subscription. You only pay when you add payroll or accept online payments.
Quicken: Quicken has no free version, but its monthly price is low. Plans start at $2.99/month billed annually. The value sits in personal finance depth, not business accounting features.
Different Scenarios
| If You Need… | Choose | Why |
|---|---|---|
| Free accounting | Wave | Free starter plan, no subscription |
| Invoicing and payroll | Wave | Accounting and payroll in one place |
| Investment tracking | Quicken | Stocks, retirement, net worth |
| Rental property tools | Quicken | Tracks deposits and maintenance |
| Personal budgeting | Quicken | Spending plans and watchlists |
| Beginner-friendly setup | Wave | Cleaner, simpler dashboard |
💰 Your Budget
Wave costs nothing to start. Quicken needs a paid plan, but it stays under $4/month billed annually.
🔌 Your Tech Stack
Wave integrates with payment processing and payroll add-ons. Quicken connects bank accounts and investment accounts for a full financial picture.
📊 Personal vs Business
Wave manages business finances and bookkeeping records. Quicken manages personal finance, with a Business & Personal tier for mixed use.
🎓 Your Experience Level
Wave is built for small business owners with no accounting background. Quicken can feel overwhelming for new users due to its steep learning curve.
🆓 Free Trials and Demos
Wave’s free version lets you test everything with no time limit. Quicken offers a 30-day money-back guarantee instead of a free plan.
🛟 Support Options
Wave’s support is limited on the free version, mostly a help center and chatbot. Quicken offers phone and chat support across its paid plans.
Switching Guide
Already using one of these tools? Here is what to expect if you switch.
🔄 Switching from Wave to Quicken?
✅ What you’ll gain:
- Investment accounts and net worth tracking
- Rental property and personal finance tools
- The Lifetime Planner for retirement goals
❌ What you’ll lose:
- Free accounting with no subscription
- Built-in payroll processing
- The option to accept online payments on invoices
📋 How to switch:
- Export your reports and transactions from Wave
- Buy a Quicken plan and create your account
- Connect your bank accounts and import data manually
🔄 Switching from Quicken to Wave?
✅ What you’ll gain:
- Free accounting software with unlimited invoices
- Unlimited users across multiple companies
- Payroll and online payments for your business
❌ What you’ll lose:
- Investment account tracking
- Rental property management tools
- The Lifetime Planner and personal budgeting depth
📋 How to switch:
- Export your data from Quicken
- Create a free Wave account, no credit card needed
- Connect bank accounts and rebuild your chart of accounts
What Our Review Didn’t Cover
This comparison focused on individuals and small business owners. We did not test enterprise setups or Quicken’s higher Classic Deluxe and Premier tiers in depth. Our notes are based on the May 2026 versions, so features may change. If you manage a large team or complex portfolio, your needs may differ from what we covered here.
Final Verdict
| Category | Winner |
|---|---|
| 💰 Pricing | Wave |
| 🧾 Invoicing | Wave |
| 💼 Payroll | Wave |
| 📈 Investment Tracking | Quicken |
| 🏠 Rental Property Tools | Quicken |
| 👶 Ease of Use | Wave |
| 🏆 Overall Winner | Wave |
🏆 WINNER: WAVE
Wave wins 4 out of 6 categories.
Best for: Freelancers, small business owners, and service-based businesses that need free invoicing and bookkeeping.
Wave and Quicken are two very different products. They just happen to live near each other in the accounting category.
Wave is free accounting software for small business invoicing and payroll. Quicken is paid personal finance software for budgets and investments.
Quicken is excellent if you want one place for personal finance, investment accounts, and rental properties. The depth is hard to match.
However, if you run a business and want free invoicing plus optional payroll, Wave is the better choice for most users. We recommend Wave for small business owners on a budget.
More of Wave Compared
Here is how Wave stacks up against other competitors:
Wave vs QuickBooks
Wave wins on: Free accounting core, unlimited users at no cost, simpler setup for beginners
QuickBooks wins on: Advanced inventory, deeper integrations, broader scalability for growing teams
Wave wins on: Zero monthly fee for core accounting, easier learning curve, free payroll-free bookkeeping
Xero wins on: Stronger inventory tracking, wider app marketplace, more advanced reporting options
Wave wins on: Free plan with no monthly charge, unlimited invoices, multi-company support
FreshBooks wins on: Built-in time tracking, billable hours, stronger project management for agencies
Wave wins on: Free starter tier, no per-user fees, faster onboarding for solo owners
Zoho Books wins on: Workflow automation, tight Zoho suite integration, client portal depth
More of Quicken Compared
Here is how Quicken stacks up against other competitors:
Quicken vs Empower
Quicken wins on: Local desktop control, rental property tools, deeper budget categories
Empower wins on: Free account tracking, slick investment dashboards, no subscription for the basics
Quicken vs Moneydance
Quicken wins on: Larger bank network, Lifetime Planner, four decades of brand history
Moneydance wins on: One-time purchase pricing, cross-platform flexibility, lighter learning curve
Quicken vs Banktivity
Quicken wins on: Windows and Mac coverage, broader investment analysis, established support network
Banktivity wins on: Mac-native design, one-time license option, focused personal budgeting interface
Quicken wins on: Personal finance focus, lower monthly cost, investment and net worth tracking
QuickBooks wins on: Full business accounting, payroll integration, accountant collaboration features
Frequently Asked Questions
Is Wave accounting really free?
Yes. The free starter plan covers unlimited invoices, expense tracking, and basic reports. You only pay for payroll or payment processing as add-on costs.
Is Wave better than QuickBooks?
For free invoicing and simple bookkeeping, Wave is hard to beat. QuickBooks offers more advanced features for larger businesses that need scalability.
How much does Wave cost?
The starter plan is $0. The Pro plan is $19/month or $190 annually. Payroll adds $40/month plus $6 per active employee or contractor.
Is Quicken difficult to learn?
It can be. Quicken is often described as overwhelming for new users due to a steep learning curve. The reporting depth is worth the effort for many.
How much is Quicken a month?
Plans start at $2.99/month for Simplifi, billed annually. Business & Personal is $3.99/month. There is no free plan, but a 30-day money-back guarantee applies.
English 
Spanish 
Chinese 
German 
French 
Arabic 
Russian 
Portuguese 
Japanese 
Korean 
Italian 
Turkish 
Dutch 
Polish 
Indonesian 
Thai 
Vietnamese 