Struggling to keep your business finances neat and tidy?
Many small business owners face the headache of managing receipts, invoices, and bank statements.
Imagine a world where your financial documents organize themselves.
This is where tools like Wave vs Hubdoc step in.
Let’s dive in and find out, so you can make a smart choice and get back to what you do best.
Overview
We put Wave and Hubdoc through real-world tests.
We tried them with different businesses.
This helped us see how each one works.
Now, we can share what we found to help you compare them easily.
Over 4 million small businesses trust Wave to manage their finances.
Pricing: Free plan available. Paid plan starts at $16/month.
Key Features:
- Unlimited Invoicing
- Expense Tracking
- Basic Reporting
Save time with Hubdoc! Users typically save 4 hours a week.
Pricing: It has a free trial. The premium plan starts at $12/month.
Key Features:
- Budgeting
- Bill Pay
- Investment Tracking
What is Wave?
Okay, let’s talk about Wave.
Think of it like a helpful friend for your business money.
It lets you do things like send invoices and track what money comes in and goes out.
It can help you see the big picture of your business finances.
Also, explore our favorite Wave alternatives…
Over 4 million small businesses trust Wave to manage their finances. See why 88% of users report saving an average of 5 hours per month on bookkeeping with Wave.
Key Benefits
Wave stands out with:
- A 100% free basic accounting plan.
- Easy to use interface for beginners.
- Seamless integration with its payroll add-on.
- Over 2 million small businesses use it.
Pricing
Free: $0
Pro Plan: $16
Pros
Cons
What is Hubdoc?
Okay, let’s talk about Hubdoc.
Think of it like a helpful assistant for your papers.
It grabs your bills and statements from different places online.
Then, it keeps them all organized in one spot.
Pretty neat, right?
Also, explore our favorite Hubdoc alternatives…
Join the over 10,000 businesses already streamlining their finances with Hubdoc. Discover how Hubdoc can help you today!
Key Benefits
Hubdoc shines when it comes to getting your documents in order. Here are some of its best features:
- It can automatically fetch documents from over 800 different banks, suppliers, and online services.
- You can easily upload documents by taking a picture with your phone or sending an email.
- It helps you say goodbye to manual data entry by pulling key information from your documents.
- Hubdoc works smoothly with popular accounting software like Xero and QuickBooks Online.
- It keeps all your important financial documents securely stored in the cloud.
Pricing
- Annually Subscription: $12/month
Pros
Cons
Feature Comparison
Let’s look closely at what both Wave and Hubdoc offer.
We’ll break down their features side by side.
This will help you see their differences clearly.
1. Receipt Management
Hubdoc is a pro at getting your receipts.
You can snap a picture with your phone, email them, or even link it to places you shop.
It pulls out key info like the date and amount.
Wave also lets you upload receipts, but it’s not as advanced at grabbing details automatically.
2. Bank Connections
Both tools can connect to your bank accounts.
This helps them pull in your transactions.
Hubdoc is very good at fetching bank statements automatically.
Wave also connects, but you might need to manually upload some statements at times.
3. Data Extraction
This is where Hubdoc really shines.
It uses smart technology to read your receipts and invoices.
It takes out all the important numbers and words.
Wave does some of this, but Hubdoc is usually more accurate and faster at it.
4. Integration with Accounting Software
Hubdoc works best with Xero.
It’s owned by Xero, so they fit together perfectly.
You can send documents straight from Hubdoc to Xero.
Wave has its own built-in accounting system.
It doesn’t connect as smoothly with other big accounting programs like QuickBooks or Xero.
5. Bill Management
Hubdoc helps you get your bills and organize them.
It can even push them into your accounting software for payment.
Wave lets you record bills you need to pay, but it’s more about tracking them within its own system.
6. User Interface
Hubdoc’s look is clean and focused on documents.
It’s pretty easy to find what you need.
Wave’s look is also clear, but it’s designed for full accounting, so there are more menus.
Both are simple enough to learn.
7. Mobile App Capabilities
Both Wave and Hubdoc offer mobile apps.
Hubdoc’s app is great for quickly snapping photos of receipts and uploading documents on the go.
What to look for when choosing an Accounting Software?
Here are some extra things to think about:
- Scalability: Can the software grow with your business?
- Support: What kind of help is available if you have questions?
- Ease of Use: Is it something you and your team can learn quickly?
- Specific Needs: Does it handle the unique things your business does?
- Security: How safe is your financial data with this software?
Final Verdict (Our Pick)
Which one wins: Wave or Hubdoc?
If you need a full, free accounting system, choose Wave.
It offers invoicing and basic expense tracking.
It’s great for small businesses.
But if you struggle with receipts and bank statements, pick Hubdoc.
It’s very smart. It grabs details automatically.
We tested both tools. We saw them work in real businesses.
Choose Wave for all your accounting.
Pick Hubdoc for document help. Your business will be happier.
More of Wave
- Wave vs Puzzle IO: Puzzle IO shines with its AI-powered smart categorization and predictive invoicing for modern accounting.
- Wave vs Dext: Dext excels at automated data capture from receipts and invoices, streamlining expense management.
- Wave vs Xero: Xero offers strong cloud-based accounting, emphasizing cash flow management and multi-currency support.
- Wave vs Synder: Synder specializes in e-commerce accounting, seamlessly syncing data from various online sales platforms.
- Wave vs Docyt: Docyt provides AI-driven bookkeeping and workflow automation, aiming for a fast month-end close.
- Wave vs Zoho Books: Zoho Books provides a broad accounting solution with strong invoicing, expense tracking, and inventory management.
- Wave vs Quicken: Quicken is primarily for personal finance, offering budgeting, investment tracking, and basic invoicing for freelancers.
- Wave vs Expensify: Expensify is a leader in expense reporting, featuring smart receipt scanning and automated reimbursements.
- Wave vs QuickBooks: QuickBooks is a comprehensive accounting software with robust features for all business sizes, including payroll and inventory.
- Wave vs AutoEntry: AutoEntry excels at automated data extraction from receipts and invoices and integrates with major accounting platforms.
- Wave vs FreshBooks: FreshBooks is optimized for service-based businesses, with strong invoicing, time tracking, and project management.
- Wave vs NetSuite: NetSuite is a full ERP solution that offers extensive financial management, CRM, and supply chain capabilities for larger businesses.
More of Hubdoc
- Hubdoc vs Puzzle IO: Puzzle IO uses AI for smart categorization and real-time financial insights, beyond just document collection.
- Hubdoc vs Dext: Dext offers broader data capture sources and advanced customization for complex expense reporting.
- Hubdoc vs Xero: Xero is a full cloud accounting system, often bundling Hubdoc for document management.
- Hubdoc vs Synder: Synder specializes in automated transaction syncing, especially for e-commerce, not primary document capture.
- Hubdoc vs Docyt: Docyt uses AI to automate end-to-end bookkeeping and financial workflows, a broader accounting solution.
- Hubdoc vs RefreshMe: RefreshMe focuses on personal financial tracking and automated bank reconciliation, not business document capture.
- Hubdoc vs Sage: Sage provides comprehensive accounting software with document management add-ons.
- Hubdoc vs Quicken: Quicken is for personal finance and budgeting, with limited business document management.
- Hubdoc vs Expensify: Expensify excels at expense reporting and mileage tracking for employee reimbursements.
- Hubdoc vs QuickBooks: QuickBooks is a leading accounting platform that integrates with tools for document attachment.
- Hubdoc vs AutoEntry: AutoEntry offers similar automated data capture from bills and receipts with high accuracy.
- Hubdoc vs FreshBooks: FreshBooks is designed for service-based businesses, focusing on invoicing and basic expense tracking.
- Hubdoc vs NetSuite: NetSuite is a comprehensive ERP system, with integrated document management as part of a larger suite.
Frequently Asked Questions
Is Wave really free for users?
Yes, Wave offers its core accounting, invoicing, and receipt tracking features for free. They make money from paid services like payroll and credit card processing. This makes Wave a great option for freelancers and small businesses on a budget.
How does Hubdoc compare vs Wave for document collection?
Hubdoc specializes in automated document collection and data extraction. It’s superior for gathering receipts, bills, and bank statements automatically. Wave also allows receipt uploads, but Hubdoc’s smart capture is more robust for high-volume document management.
Can Hubdoc integrate with accounting software other than Xero?
While Hubdoc is owned by Xero and integrates seamlessly, it also offers connections to other platforms. You can export data to other accounting software, but its deepest functionality and automation are typically realized when paired with Xero.
Is Hubdoc better for bank reconciliation?
Hubdoc helps a lot with bank reconciliation by automatically fetching bank statements and extracting transaction data. This pre-populates information, making the reconciliation process smoother and faster in your accounting software like Xero or FreshBooks, or even Zoho Books.
How do you make money from these comparisons?
Our aim is to offer objective reviews. We may earn a referral fee when you visit a vendor or provider through our links. This does not impact our research or methodology, ensuring our reviews are authentic and unbiased to help you choose the best tool.
