Hands-on tested · Updated 2026
Completely free - no payment needed.
Where it falls short
No major shortcomings identified in our testing.
Free small business accounting with invoicing and receipt scanning
From registration to actual use - step by step
Visit Wave's website and sign up with email or Google account. Wave is free financial software especially suited for freelancers and small businesses, offering accounting, invoicing, and receipt scanning with no monthly fees or limits.
Go to Sign UpWave monetizes through payment processing (credit card 2.9% + $0.30, ACH 1%) and payroll services; accounting features are permanently free with no hidden charges.
In "Settings", fill in business type (Sole Proprietor, LLC, Corporation, etc.), tax ID, and accounting method (Cash/Accrual). Wave auto-generates the corresponding chart of accounts, with manual addition of custom accounts available.
Accounting method cannot be changed once set with historical transactions. New businesses should choose Cash for simplicity; Accrual is mandatory for $5M+ annual revenue.
Create invoices in "Sales → Invoices" with customizable logo, colors, and terms. Enable "Accept Credit Cards" so customers can pay directly from the invoice email; funds arrive in 1-2 business days.
Enable "Recurring Invoices" for long-term clients to auto-send periodic invoices; combined with "Auto-Pay", this reduces 80% of receivables collection effort.
Use the Wave mobile app to photograph and upload receipts; OCR auto-extracts amount, date, merchant, and category. Generate P&L, Cash Flow, Sales Tax and other reports at month-end in "Reports", with free Excel/PDF export.
Confirm categories in the app immediately after scanning to avoid month-end backlog. Wave learns your categorization habits with improving accuracy over time.
💡 Wave is a software tool, not an AI model. To experience its full features, please visit the official website. You can also add it to your workflow below.
Wave is a free tool. Visit the official website for detailed pricing.
View pricing →| Tool | Rating | Pricing | Best For |
|---|---|---|---|
| Wave ★ | 4.3/5 | Free | Finance |
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