


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. Explore Wave’s plans and find the right fit.
Pricing:Â Free plan available. Paid plan starts at $19/month.
Key Features:
- Invoicing
- Banking
- Payroll add-on.

Save time with Hubdoc! Users typically save 4 hours a week on data entry. Plus, Hubdoc auto-organizes 99% of docs.
Pricing: It has a free trial. The premium plan starts at $12/month.
Key Features:
- Automated Document Fetching
- Data Extraction
- Direct Accounting Integration
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…

Our Take

Don’t settle for less! Join the over 2 million small businesses that rely on Wave’s powerful, free core accounting features to streamline their finances today.
Key Benefits
Wave’s strengths include:
- A 100% free core accounting plan.
- Serving over 2 million small businesses.
- Easy invoice creation and payment processing.
- No long-term contracts or warranties.
Pricing
- Starter Plan: $0month.
- Pro Plan: $19month.

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…

Key Benefits
Hubdoc’s main strength is its focus on document automation.
- 99% accuracy: Hubdoc uses OCR to ensure data is captured correctly.
- Audit-proof storage: It stores documents securely, so you never lose a file again.
- Saves 10 hours monthly: Users report significant time savings by eliminating manual entry.
- Automated supplier fetching.
- Mobile photo capture.
- Seamless Xero integration.
Pricing
- Hubdoc price: $12/month.

Pros
Cons
Feature Comparison
Selecting the best accounting software is a matter of understanding each platform’s core specialty.
This Wave review and Hubdoc review will evaluate a free accounting software against a powerful document automation tool, guiding small business owners to the right solution for their business operations.
1. Core Purpose and Platform
- Wave Financial is a full small business accounting software solution. Its free platform includes the general ledger, bookkeeping records, and core accounting features. Wave makes managing personal finance simple and is built for the small business owner.
- Hubdoc is a document and data capture service, not an accounting platform. Its key features automate tasks by collecting financial documents and converting them into usable bank transactions. It works as a third party app to help accountant access data for other online accounting systems.
2. Pricing and Subscription
- Wave offers a complete free version (free starter plan), including unlimited invoices and multiple companies management. Wave’s two plans structure offers a paid pro plan for advanced features with optional additional costs for add-ons, making it a very cost-effective choice.
- Hubdoc is often available as free bookkeeping software when bundled with other popular business apps (like Xero), but it is a paid product on its own. The billing period is typically monthly, and its value is measured by the time tracking and save time it provides the bookkeeper.

3. Expense and Data Automation
- Wave helps track expenses by allowing you to connect to bank accounts to auto import bank transactions. Digital receipt capture is available, and the auto merge feature helps reconcile bank transactions with less manual effort.
- Hubdoc is a specialist in document automation. It can automatically file records and bank statements and extract data from them, significantly reducing the time tracking spent on manual data entry for expenses. The mobile app is excellent for receipt scanning receipts on the go.
4. Invoicing and Payments
- Wave Financial’s invoicing software allows you to create and send recurring invoices. You can accept multiple online payments via credit card payments (credit card transaction) and bank payments, with integrated payment processing that includes Apple Pay.
- Hubdoc has no native invoicing features. Its payments functionality is limited to capturing vendor bills and invoices sent to you (accounts payable), which it then pushes to other systems like QuickBooks Online for the accountant to pay bills.
5. Payroll and Time Tracking
- Wave Payroll is an integrated accounting and payroll add-on that enables payroll processing and direct deposit for both active employee and independent contractor paid. Wave does not, however, offer dedicated billable hours or track mileage functionality.
- Hubdoc does not have run payroll or payroll processing capabilities. It is focused on financial documents and does not track employee time or manage sales tax calculations.
6. User Access and Collaboration
- Wave supports unlimited users for free, making it an ideal free platform for collaboration with your accountant or bookkeeper. It also allows you to track expenses for multiple companies from a single account.
- Hubdoc allows you to grant accountant access to clients’ records. This collaborative feature ensures that the accountant or bookkeeper always has the latest files via the internet connection, allowing them to spend less time requesting documents.

7. Financial Analysis and Reporting
- Wave offers essential financial reports and tools to view cash flow and profit from your income and expenses. This allows the small business owner to keep a full picture of their personal finance and business finances.
- Hubdoc does not generate financial reports or offer budgeting tools. It merely collects the raw source records and data so that the connected online accounting system can generate reports and provide real time data.
8. Mobile Functionality and Access
- Both platforms offer a strong mobile app. Wave’s mobile app allows you to create invoices and manage payments on the go. Hubdoc’s app is purely focused on receipt scanning and document upload to the cloud.
- Hubdoc’s cloud-native nature ensures you have access to your documents from anywhere in the world with an internet connection. Wave is also cloud-based, so you can run your business from any mobile device.
9. Automation of Cash Flow and Payments
- Wave products help with cash flow by providing automated payment reminders and recurring billing. Wave integrates its own services seamlessly to simplify the entire process of getting paid and pay bills.
- Hubdoc helps automate the front end of cash flow management by collecting and organizing bank statements and vendor bills. This saves time for the bookkeeping tasks and the back-end process of tax time. The wave accounting review is why many recommend wave as a strong online accounting platform.
What to look for in an Accounting Software?
To find the right financial solution, you must evaluate an accounting platform on five key dimensions that determine its value and fit.
- Scalability: Can the software grow with any of your business?Scalability is crucial, especially when deciding between self hosted and cloud-based solutions. A strong subscription level should support unlimited bookkeeping records and allow you to easily add multiple users. Unlike on premise systems that require purchasing new hardware, cloud platforms allow you to pay for your needs through a tiered structure (such as a free plan to a paid plan), often with a discounted rate for commitment, ensuring your financial system adapts over time.
- Support: What kind of help is available if you have questions?Support quality is paramount for giving peace of mind and simplifying tax filing. Ensure the vendor has a reliable help center and can address issues related to bank transfers and accounts receivable quickly. Look for clear support channels that promise resolution within a few business days.
- Ease of Use: Is it something you and your team can learn quickly? The simplicity of the user interface affects how quickly multiple users can become proficient. The software should make it easy to track expenses and manage money management features. It should also efficiently handle core operations, like automatically importing transactions automatically from your bank, to reduce manual effort.
- Specific Needs: Does it handle the unique things your business does? The system must directly support your core workflows. If you manage sales, it should integrate purchase orders and facilitate accounts receivable. If you have global customers, it should support multiple tax jurisdictions. Features like accept online payments are crucial for modern customers. For advanced users, particularly those integrating with add-ons (like Xero users frequently do), checking API compatibility is essential.
- Security: How safe is your financial data with this software?Security is non-negotiable for bank transfers and managing customers’ payment data. The vendor must protect your information with advanced security measures, such as multi factor authentication. You should be able to segment reporting for a specific date range for security audits and be confident that your tax filing data is secure.
Final Verdict
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: This software focuses on AI-powered financial planning for startups. Its counterpart is for personal finance.
- Wave vs Dext: This is a business tool for capturing receipts and invoices. The other tool tracks personal expenses.
- Wave vs Xero: This is popular online accounting software for small businesses. Its competitor is for personal use.
- Wave vs Synder: This tool syncs e-commerce data with accounting software. Its alternative focuses on personal finance.
- Wave vs Easy Month End: This is a business tool to streamline month-end tasks. Its competitor is for managing personal finances.
- Wave vs Docyt: This uses AI for business bookkeeping and automation. The other uses AI as a personal finance assistant.
- Wave vs Sage: This is a comprehensive business accounting suite. Its competitor is an easier-to-use tool for personal finance.
- Wave vs Zoho Books: This is an online accounting tool for small businesses. Its competitor is for personal use.
- Wave vs Quicken: Both are personal finance tools, but this one offers more in-depth investment tracking. The other is simpler.
- Wave vs Hubdoc: This specializes in document capture for bookkeeping. Its competitor is a personal finance tool.
- Wave vs Expensify: This is a business expense management tool. The other is for personal expense tracking and budgeting.
- Wave vs QuickBooks: This is well-known accounting software for businesses. Its alternative is built for personal finance.
- Wave vs AutoEntry: This is designed to automate data entry for business accounting. Its alternative is a personal finance tool.
- Wave vs FreshBooks: This is accounting software for freelancers and small businesses. Its alternative is for personal finance.
- Wave vs NetSuite: This is a powerful business management suite for large companies. Its competitor is a simple personal finance app.
More of Hubdoc
- Hubdoc vs Puzzle: This software focuses on AI-powered financial planning for startups. Its counterpart is for personal finance.
- Hubdoc vs Dext: This is a business tool for capturing receipts and invoices. The other tool tracks personal expenses.
- Hubdoc vs Xero: This is popular online accounting software for small businesses. Its competitor is for personal use.
- Hubdoc vs Synder: This tool syncs e-commerce data with accounting software. Its alternative focuses on personal finance.
- Hubdoc vs Easy Month End: This is a business tool to streamline month-end tasks. Its competitor is for managing personal finances.
- Hubdoc vs Docyt: This uses AI for business bookkeeping and automation. The other uses AI as a personal finance assistant.
- Hubdoc vs Sage: This is a comprehensive business accounting suite. Its competitor is an easier-to-use tool for personal finance.
- Hubdoc vs Zoho Books: This is an online accounting tool for small businesses. Its competitor is for personal use.
- Hubdoc vs Wave: This provides free accounting software for small businesses. Its counterpart is designed for individuals.
- Hubdoc vs Expensify: This is a business expense management tool. The other is for personal expense tracking and budgeting.
- Hubdoc vs QuickBooks: This is well-known accounting software for businesses. Its alternative is built for personal finance.
- Hubdoc vs AutoEntry: This is designed to automate data entry for business accounting. Its alternative is a personal finance tool.
- Hubdoc vs FreshBooks: This is accounting software for freelancers and small businesses. Its alternative is for personal finance.
- Hubdoc vs NetSuite: This is a powerful business management suite for large companies. Its competitor is a simple personal finance app.
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 Wave vs Hubdoc compare 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.