1v1 Pricing Showdown
Wave vs Xero
Side-by-side pricing breakdown for Accounting Software decision-makers
Prices in USD, verified from the United States. Regional pricing may vary.
When choosing between Wave and Xero for your accounting software stack, the right answer depends on three things: your budget, the specific features you actually use day-to-day, and your tolerance for renewal-price increases. Below we lay out the prices each vendor advertises today (verified against their live pricing pages), the plan limits that decide whether they'll fit your team, and the features that differ between them.
Wave starts at $19/mo; Xero starts at $25/mo. The cheaper headline price isn't always the cheaper total cost — renewal pricing, per-user fees, and overage charges can shift the math. Use the plan-by-plan tables below to model your actual spend.
Feature Comparison
| Feature | | |
|---|---|---|
| invoicing | Yes | Yes |
| bank feeds | Pro only | Yes |
| payroll | Paid add-on | Third-party |
| inventory | No | Premium |
| receipt scanning | Pro only | — |
| mobile app | Yes | Yes |
| unlimited users | Yes | Yes |
| multi currency | — | Standard+ |
| integrations | — | 1000 |
Affiliate links — you pay the same price
Dive Deeper
About the accounting software category
Accounting software pricing in 2026 ranges from free (Wave Starter, Zoho Books Free) to $275/mo (QuickBooks Advanced). The market has split into three tiers: budget tools for freelancers (Wave at $0-19/mo, Zoho Books at $0-15/mo), mid-range platforms for growing businesses (FreshBooks at $23-70/mo, Xero at $20-80/mo), and the QuickBooks premium tier ($38-275/mo) that dominates through ecosystem lock-in. Xero's April 2026 price restructure dropped prices across the board and introduced a 90% off promo — Starter at $2/mo for six months is the most aggressive intro discount in the category. Meanwhile, QuickBooks continues to run near-permanent 50% off promos that mask the real long-term cost.
How to choose between accounting software options
Your accountant's preference matters more than features. If they use QuickBooks, switching to Xero to save $816/year creates friction at tax time that costs real money. After that, three factors determine your best fit. First, user count: Xero includes unlimited users on every plan, while QuickBooks caps at 1-25 depending on tier and FreshBooks charges $11/mo per additional team member. A 5-person team on Xero Standard pays $47/mo total. On QuickBooks Plus, it's $115/mo and you're capped at 5 users. Second, feature needs: payroll is built into QuickBooks but requires third-party tools on Xero and Zoho; inventory tracking starts at $40/mo on Zoho, $80/mo on Xero, and $115/mo on QuickBooks. Third, your invoicing volume: Xero's Starter plan caps at 20 invoices/month, which most businesses outgrow in weeks.
Building Your Business Stack?
Decision-makers comparing tools often need more than one category. Here are related comparisons:
Frequently Asked Questions
- Is Wave cheaper than Xero?
- Wave is cheaper starting at $19/mo. Wave starts at $19/mo and Xero at $25/mo.
- Does Wave or Xero offer a free plan?
- Wave offers a free plan.
- Which is better, Wave or Xero?
- Xero scores 8.5/10 compared to Wave's 8/10 in our analysis. Xero ranks higher on features and value, but Wave may suit specific use cases — see the feature comparison above.
- Is Wave cheaper than Xero for a team of 5?
- For a team of 5, Wave costs $19/mo (flat rate) and Xero costs $25/mo (flat rate). Wave is the cheaper option at this team size.
- Are there other accounting software alternatives besides Wave and Xero?
- Yes. Our [Accounting Software pricing comparison](/pricing/accounting-software/) page covers all major providers with daily-verified prices. You can also see the [cheapest accounting software](/pricing/accounting-software/cheapest/) for budget-focused options.