⚡ Quick Verdict:
- Pricing: Wave has two plans, a free Starter plan at $0 and a paid Pro plan at $19/month. Hubdoc runs on a single monthly subscription at $12/month.
- Best for: Wave fits small business owners who want free accounting software. Hubdoc fits Xero users and bookkeepers who want to automate document capture.
- Key difference: Wave is full small business accounting software. Hubdoc only collects and reads financial documents, then sends data to your accounting software.
- Our pick: We recommend Wave for most small business users because it runs your books, invoicing, and payments in one free platform.
Wave and Hubdoc both show up when you search for accounting software.
But they are not the same kind of tool.
Wave is free accounting software that runs your whole business.
Hubdoc is a document tool that feeds data to your books.
This Wave review and Hubdoc review will help you pick the right one.
By the end, you will know which tool fits your small business.
Overview
This Wave vs Hubdoc comparison covers pricing, key features, and ease of use.
We also break down who each tool works best for.
Our writers signed up for both and explored them hands-on.
Those notes appear in the “What Our Team Noticed” sections below.
We also pulled details from each company’s documentation and G2 reviews.
What is Wave?
Wave is free accounting software for small business owners.
Wave Accounting supports over 2 million small businesses with money management features.
It helps you send invoices, track expenses, and manage cash flow.
The platform is cloud-based, so you can access it with any internet connection.
Wave makes accounting simple for people without a finance background.
It can even cover basic personal finance, though it targets small business.
Most users pick it for the free version and easy invoicing software.
Wave
Free accounting software with unlimited invoices and expense tracking. Wave runs invoicing, payments, and payroll in one place. Great for freelancers and small business owners.
Wave Pricing
Here is what Wave costs in 2026. Let’s break it down.
| Plan | Price | Best For |
|---|---|---|
| Starter Plan | $0 | Freelancers and new small business owners |
| Pro Plan | $19/month | Owners who want auto import bank transactions and payment reminders |
Pricing verified April 2026.
Free trial: The free Starter plan is permanent. You can test core accounting features at no cost before moving to the paid Pro plan.
Money-back guarantee: Wave does not advertise a refund window. You can cancel the paid plan and drop back to the free plan anytime.
📌 Note: The paid pro plan is $19 per month or $190 annually at a discounted rate. Wave payroll is a separate add-on at $40 per month plus $6 per active employee or independent contractor.
⚠️ Warning: Core accounting is free, but payment processing has additional costs. Expect 2.9% + $0.60 per credit card transaction and 1% for bank payments. Apple Pay is supported on invoices.
Key Benefits of Wave
Here is what makes Wave worth considering:
- Free Starter Plan: The free plan includes unlimited invoices, expense management, and basic financial reports. There is no monthly fee for core accounting.
- Unlimited Users: Wave allows unlimited users for free. You can add your bookkeeper or accountant without extra cost.
- Online Payments: Accept online payments by credit card and bank transfers. Customers can pay invoices fast, even with Apple Pay.
- Recurring Billing: Set up recurring invoices and automated payment reminders. This is handy for retainer clients and subscriptions.
- Payroll And Tax Filing: Wave payroll handles direct deposit and tax filing in select states. It pays employees and contractors from one screen.
- Multiple Companies: Manage multiple companies under one login. This suits owners who run more than one small business.
- Strong Security: Wave uses up to 256-bit TLS encryption and PCI Level 1 compliance. Multi factor authentication adds another layer of account safety.
What Our Team Noticed
Our writer signed up for Wave and spent several days exploring the platform. Here is what stood out from that hands-on time:
Wave Pros & Cons
✅ Pros
- Free Starter plan with unlimited invoices and expense tracking
- Unlimited users free, unlike most paid accounting software
- Clean dashboard showing cash flow, income, and expenses
- Built-in payroll and online payments in one place
❌ Cons
- No built-in time tracking, billable hours, or inventory
- Auto import bank transactions sits behind the paid Pro plan
- Support is limited to a help center and chatbot on the free plan
What is Hubdoc?
Hubdoc is a cloud-based document management tool for bookkeeping.
It captures receipts, bills, and financial documents in one place.
Hubdoc uses OCR to read vendor name, date, total, and tax.
It then sends that data to your online accounting software.
Hubdoc is cloud-based, not self hosted or on premise software.
As of 2026, Hubdoc is owned by Xero and works closely with QuickBooks Online.
Hubdoc
Hubdoc auto-fetches bills and statements, then reads them with OCR. It pushes clean data into Xero and QuickBooks Online. Built for bookkeepers and accountants.
Hubdoc Pricing
Here is what Hubdoc costs in 2026. The pricing is simple.
| Plan | Price | Best For |
|---|---|---|
| Monthly Subscription | $12/month | Standalone users not on a bundled Xero plan |
Pricing verified April 2026.
Free trial: Hubdoc has a 30-day free trial. No credit card is needed to start, so you can test it for a full billing period first.
Money-back guarantee: There is no formal refund policy. You can cancel before the next billing period to avoid further charges.
📌 Note: Many Xero users get Hubdoc free or at a discounted rate, depending on their subscription level. This makes it cost-effective for accountants who already pay for Xero.
⚠️ Warning: Hubdoc is not a full accounting package. You still pay for accounting software like Xero or QuickBooks Online to actually run your business.
Key Benefits of Hubdoc
Here is what makes Hubdoc worth considering:
- Automatic Document Fetching: Hubdoc fetches bills and bank statements from vendors for you. This helps you save time and spend less time on manual data entry.
- Smart Data Extraction: OCR pulls vendor name, date, total, and sales tax from receipts. Real time data flows into your books.
- Centralized Filing: It sorts documents into folders by vendor name. Hubdoc acts like a digital filing cabinet for your records.
- Software Integration: Hubdoc integrates with Xero and QuickBooks Online. It also connects with other business apps and third party apps.
- Audit-Proof Records: It stores original financial documents for audit-proof record-keeping. Your accountant gets a full picture at tax time.
- Mobile Capture: The mobile app lets you snap receipts on the go. Documents upload straight to the cloud.
- User Collaboration: Give your bookkeeper or accountant access to shared documents. Multiple users can manage files together.
What Our Team Noticed
Our writer signed up for Hubdoc and tested its document capture for several days. Here is what stood out from that hands-on time:
Hubdoc Pros & Cons
✅ Pros
- Auto-fetches documents and reads them with OCR
- Deep integration with Xero and QuickBooks Online
- Often free or discounted with a Xero subscription
- Strong document storage for audit-proof records
❌ Cons
- Not a full accounting package on its own
- OCR can make errors that need manual review
- The interface feels outdated and bank feeds can break
Feature Comparison
Ready to dive into a detailed comparison of Wave vs Hubdoc? These tools sit in the same accounting space but do very different jobs.
We will look at ten key features so you can match each tool to your business operations. Keep in mind that Wave runs the books while Hubdoc feeds them documents.
| Feature | Wave | Hubdoc |
|---|---|---|
| Starting Price | $0 free plan | $12/month |
| Free Plan | ✅ | ❌ (30-day trial) |
| Invoicing | ✅ | ❌ |
| Expense Tracking | ✅ | ✅ (capture only) |
| Bank Transactions Sync | ✅ (Pro) | ✅ (fetch docs) |
| Financial Reports | ✅ | ❌ |
| Payroll Processing | ✅ (add-on) | ❌ |
| OCR Data Extraction | Basic receipt scanning | ✅ Advanced |
| Best For | Free small business accounting | Document capture for Xero/QBO |
1. Core Purpose
Wave: Wave is full small business accounting software. It handles invoicing, expense tracking, bank reconciliation, and reports. You can run your business books end to end without a second tool.
Hubdoc: Hubdoc is a document tool, not standalone accounting software. It collects receipts and bills, reads them, and pushes the data to QuickBooks Online or Xero. You still need an accounting platform behind it. Hubdoc helps automate tasks like data entry and document collection.
⚠️ Warning: If you only buy Hubdoc, you cannot run your business with it. It is a feeder for your real accounting software.
2. Invoicing
Wave: Wave allows unlimited invoices on the free plan. You can send customizable invoices, schedule recurring billing, and track open invoices. Automated payment reminders chase late customers for you. You can accept credit card payments and manage accounts receivable from one screen.
Hubdoc: Hubdoc does not create or send invoices. Its invoicing features are limited to reading vendor invoices you receive. To send invoices, you rely on Xero or QuickBooks Online.
3. Expense Tracking and Receipts
Wave: Wave lets you track expenses and capture receipts with the mobile app. Receipt scanning syncs expense data with your books. It covers everyday expense tracking for most small business owners.
Hubdoc: Hubdoc goes deeper on digital receipt capture. It uses OCR to read each document and auto merge the data into your accounting software. This reduces manual entry for high-volume bookkeeping records.
4. Bank Connections and Reconciliation
Wave: Wave connects your bank accounts to pull transactions automatically. The paid pro plan adds auto import bank transactions, which speeds up reconciliation. The free version needs more manual entry. Synced transactions usually appear within one to two business days.
Hubdoc: Hubdoc fetches bank statements and bills directly from vendors. It does not reconcile by itself, but it supplies the source documents your accountant matches against bank transactions. Some users report feeds break and need a manual fix.
5. Financial Reporting
Wave: Wave generates financial reports like balance sheets and income statements. You can filter by date range to see profit and cash flow. Reports are solid for basics but lack advanced budgeting tools.
Hubdoc: Hubdoc does not produce financial reports. Reporting happens inside Xero or QuickBooks Online once Hubdoc has delivered the data. Think of it as the data source, not the report writer.
6. Document Management and Filing
Wave: Wave stores receipts tied to transactions, but it is not a document filing cabinet. You manage files within the accounting flow. There is no deep folder sorting by vendor.
Hubdoc: This is where Hubdoc shines. It auto-files documents into folders by vendor name and keeps original copies for audit-proof record-keeping. Bookkeepers get unlimited bookkeeping records in one tidy place.
7. Payroll and Tax Filing
Wave: Wave offers accounting and payroll in one platform. Wave payroll handles direct deposit and supports payroll processing with W2 and 1099 forms. It gets each active employee or independent contractor paid from one screen. It files taxes in select states.
Hubdoc: Hubdoc has no payroll feature. You cannot run payroll or pay bills from it. Payroll stays with your main accounting software or a separate payroll tool.
8. Integrations
Wave: Wave integrates with fewer outside apps than rivals. Wave integrates well within its own platform, linking invoicing, payments, and payroll. But its third party apps list is shorter than QuickBooks or Xero.
Hubdoc: Hubdoc is built to connect. It links tightly with Xero and QuickBooks Online, reportedly around 89% user satisfaction on integration. It plugs into the wider set of business apps accountants already use.
9. Mobile App
Wave: The Wave mobile app lets you send invoices and track expenses on the go. It keeps the same clean feel as the desktop version. You can manage money from your phone with any internet connection.
Hubdoc: The Hubdoc mobile app focuses on document capture. Snap a receipt and it uploads to the cloud, ready for data extraction. It is simple but does its one job well.
10. Security and Storage
Wave: Wave protects your data with up to 256-bit TLS encryption and PCI Level 1 compliance. Multi factor authentication guards your login. Your financial data lives safely in the cloud, giving peace of mind.
Hubdoc: Hubdoc uses bank-level encryption to store sensitive financial documents. Files stay in secure cloud storage with backup. Security is a core selling point for accountant access and client records.
11. Pricing & Cost
Let’s compare the pricing plans side by side.
| Plan | Wave | Hubdoc |
|---|---|---|
| Free | Starter plan, $0 | ❌ (30-day trial only) |
| Paid | Pro plan, $19/month | $12/month |
| Annual Option | $190/year for Pro | Billed monthly |
| Add-ons | Payroll from $40/month + $6/employee | Often free with Xero |
Wave: Wave wins on upfront cost. The free starter plan covers core accounting with no monthly fee. You only spend money on payment processing, the paid pro plan, or payroll.
Hubdoc: Hubdoc costs $12 per month on its own. But many Xero users pay nothing extra because it comes bundled. Your real cost depends on your subscription level with Xero.
💡 Test Result: Wave’s free plan saves you the most money if you need standalone accounting software. Hubdoc only makes sense if you already pay for Xero or QuickBooks Online.
Different Scenarios
| If You Need… | Choose | Why |
|---|---|---|
| Free accounting software | Wave | Permanent free starter plan |
| Document capture for Xero | Hubdoc | Auto-fetch and OCR |
| Invoicing and payments | Wave | Unlimited invoices, online payments |
| Audit-proof document storage | Hubdoc | Sorts and stores originals |
| Payroll and tax filing | Wave | Built-in payroll add-on |
| Beginner-friendly tool | Wave | Easy for non-accountants |
💰 Your Budget
Wave’s free plan wins for tight budgets. Hubdoc costs $12 per month unless it is bundled with your Xero subscription.
🔌 Your Tech Stack
If you already run Xero or QuickBooks Online, Hubdoc slots right in. If you have no accounting software yet, Wave gives you the full picture in one place.
📝 Your Workflow
High receipt volume favors Hubdoc’s auto merge and data extraction. Simple income and expenses favor Wave’s all-in-one approach.
🎓 Your Experience Level
Wave suits owners with no accounting background. Hubdoc assumes you or your bookkeeper already work inside a bigger accounting system.
🆓 Free Trials and Demos
Wave’s starter plan is free forever, so just sign up and test it. Hubdoc gives a 30-day free trial with no credit card required.
🛟 Support Options
Wave’s support is limited to a help center and chatbot on the free plan. Hubdoc support runs through Xero channels for connected accounts.
Switching Guide
Already using one of these tools? Here is what to expect if you switch.
🔄 Switching from Wave to Hubdoc?
✅ What you’ll gain:
- Automatic fetching of financial documents from vendors
- Stronger OCR data extraction and auto filing by vendor
- Deep links to QuickBooks Online and Xero
❌ What you’ll lose:
- Free invoicing software and unlimited invoices
- Built-in payroll and online payments
- Financial reports and a free platform
📋 How to switch:
- Export your bookkeeping records and receipts from Wave
- Set up Xero or QuickBooks Online as your main books
- Connect Hubdoc and start fetching documents
🔄 Switching from Hubdoc to Wave?
✅ What you’ll gain:
- A free version that runs your full books
- Invoicing, recurring invoices, and accept online payments
- Payroll, direct deposit, and tax filing in one tool
❌ What you’ll lose:
- Automatic document fetching from vendors
- Advanced OCR and audit-proof filing by vendor
- Tight integration with Xero for accountant access
📋 How to switch:
- Download stored documents from Hubdoc
- Create a free Wave account and connect your bank accounts
- Import opening balances and start invoicing
What Our Review Didn’t Cover
This comparison focused on individual users and small business owners. We did not test enterprise setups or deep multi-entity bookkeeping. Our notes are based on the April 2026 versions, so features may have changed since then. If you manage complex inventory, purchase orders, or heavy time tracking needs, your priorities may differ from what we covered here. Neither tool lets you track mileage out of the box.
Final Verdict
| Category | Winner |
|---|---|
| 💰 Pricing | Wave |
| 🚀 Core Features | Wave |
| 📄 Document Capture | Hubdoc |
| 🎯 OCR Accuracy | Hubdoc |
| 👶 Ease of Use | Wave |
| 🔌 Integrations | Hubdoc |
| 🏆 Overall Winner | Wave |
🏆 WINNER: WAVE
Wave wins 4 out of 6 categories.
Best for: Freelancers, solopreneurs, and small business owners who want free accounting software with invoicing and payroll.
Wave and Hubdoc solve two different problems. Wave is a free accounting platform that runs your whole business. Hubdoc is a document tool that feeds data to other accounting software.
Hubdoc is excellent for bookkeepers and Xero users who drown in receipts. Its auto-fetch and OCR save real time at tax time. If document capture is your only pain, it is a strong pick.
But if you need software to actually run your business, Wave is the better choice. It gives small business owners invoicing, payments, payroll, and reports for free. That is why we recommend Wave for most readers comparing these two. This Wave accounting review found it the simplest path to free books.
More of Wave Compared
Here is how Wave stacks up against some of the best accounting software:
Wave wins on: free starter plan, unlimited users at no cost, simpler setup for beginners
QuickBooks wins on: advanced features, deeper third party apps, inventory and project tools
Wave wins on: zero monthly cost, free invoicing software, friendlier for non-accountants
Xero wins on: daily bank feed each business day, richer reporting, more integrations and add-ons
Wave vs FreshBooks
Wave wins on: free version, lower total cost, broader money management features
FreshBooks wins on: built-in time tracking, billable hours, stronger client-facing invoicing features
Wave wins on: truly free plan with no revenue cap, simpler interface, free payroll-ready accounting
Zoho Books wins on: automation workflows, budgeting tools, tighter fit for the wider Zoho stack
More of Hubdoc Compared
Here is how Hubdoc stacks up against other document tools:
Hubdoc wins on: lower price, free bundling with Xero, simple setup for basic capture
Dext wins on: better OCR on complex invoices, multi-line item handling, faster processing of bulk documents
Hubdoc vs AutoEntry
Hubdoc wins on: auto-fetch from vendors, included with Xero plans, audit-proof document storage
AutoEntry wins on: pay-per-credit pricing for low volume, line-item capture, broader software support
Hubdoc vs Expensify
Hubdoc wins on: vendor bill fetching, document filing by vendor, deeper Xero sync
Expensify wins on: employee expense reports, mileage and travel claims, corporate card reconciliation
Hubdoc wins on: dedicated document capture, vendor auto-fetch, tidy filing cabinet for receipts
QuickBooks wins on: full accounting and reporting, payroll, invoicing and a complete books platform
Frequently Asked Questions
Is Wave really free?
Yes. The Starter plan is free with unlimited invoices and expense tracking. You only pay for payment processing, the paid Pro plan, or payroll add-ons.
Is Wave as good as QuickBooks?
For freelancers and simple businesses, yes. QuickBooks Online offers more advanced features and integrations. Wave wins on price and ease of use.
How much does Hubdoc cost?
Hubdoc costs $12 per month as a standalone tool. Many Xero users get it free or at a discounted rate, depending on their subscription level.
What is Hubdoc used for?
Hubdoc captures receipts, bills, and statements, then reads them with OCR. It sends that data to your accounting software and stores documents for audit-proof records.
Is Hubdoc still free with Xero?
Many Xero plans include Hubdoc at no extra cost. Since Xero owns Hubdoc, the bundle depends on your billing period and plan tier.
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