# Xero vs Wave: Features and Cost Comparison 2026 | Capterra > Xero vs Wave: Which accounting tool is right for you? Dive into our detailed comparison of their features, costs, and user experience to make your decision. Source: https://www.capterra.com/compare/120109-178021/Xero-vs-Wave-Apps --- # Xero vs Wave Features and Cost Comparison Last updated April 15th, 2026 Provider data verified by our Software Research team, and reviews moderated by our Reviews Verification team.[Learn more](https://www.capterra.com/our-story/) Your comparison: XeroWave2/4 selected [Xero](https://www.capterra.com/p/120109/Xero/)[4.4 (3290)](https://www.capterra.com/p/120109/Xero/reviews/) [Wave](https://www.capterra.com/p/178021/Wave-Apps/)[4.4 (1720)](https://www.capterra.com/p/178021/Wave-Apps/reviews/) [## Xero](https://www.capterra.com/p/120109/Xero/)[4.4 (3290)](https://www.capterra.com/p/120109/Xero/reviews/) [## Wave](https://www.capterra.com/p/178021/Wave-Apps/)[4.4 (1720)](https://www.capterra.com/p/178021/Wave-Apps/reviews/) Starting Price $25.00/month Starting Price $25.00/month Value-for-Money 4.2 Functionality 4.3 Ease of Use 4.4 Customer Service 4 Starting Price $19.00/month Starting Price $19.00/month Value-for-Money 4.6 Functionality 4.2 Ease of Use 4.4 Customer Service 4 Reviews Sentiment Based on [3,290 reviews](https://www.capterra.com/p/120109/Xero/reviews/) Positive 2,891 Neutral 239 Negative 160 Positive 2,891 Neutral 239 Negative 160 Reviews Sentiment Based on [1,720 reviews](https://www.capterra.com/p/178021/Wave-Apps/reviews/) Positive 1,503 Neutral 107 Negative 110 Positive 1,503 Neutral 107 Negative 110 Best for (according to reviews) - **Business size**: Small businesses account for 73% of reviews (2,344), reflecting high usage rates among this segment compared to midsize and enterprise organizations. - **Industry**: Accounting, IT services, and marketing/advertising collectively represent 27% of reviews, indicating broad adoption across professional service sectors. - **Use cases**: Accounting (68%), billing/invoicing (46%), and financial reporting (31%) are primary functions, highlighting Xero’s focus on core financial management tasks. Best for (according to reviews) - **Business size**: Small businesses account for 1,331 reviews (78%), suggesting strong market traction in this segment. - **Industry**: Marketing and advertising (11%), accounting (6%), and IT services (5%) together represent 22% of reviews, indicating diverse industry adoption. - **Use cases**: Billing and invoicing (62%), accounting (50%), and financial reporting (19%) are the main applications, highlighting core financial management needs. ## Send this comparison chart to my inbox ### Fill out the form and we'll send a list of the top-rated software based on real user reviews directly to your inbox. ## Reviewer verdict Xero Xero users find it best for businesses needing comprehensive and customizable accounting features, appreciating its extensive financial reporting, automation, and real-time data tracking. Reviewers highlight its suitability for small businesses that require multi-user access, customizable invoicing, and integrations with tools like PayPal and Stripe. However, they mention that the pricing structure can be a drawback for smaller operations, especially when factoring in add-ons. Wave Wave users consider it ideal for small businesses and startups seeking a cost-effective, easy-to-use accounting solution. They value its free core features, straightforward invoicing, and simple financial reporting, noting that it covers essential needs without complexity. Reviewers appreciate the PayPal integration for international payments, but they mention limitations in customization, reporting depth, and bank integration reliability. ## Connect with a Capterra advisor for a free 15-minute consultation Get a personalized software list aligned to your business needs with guidance from our expert advisors. Our team has helped 1 million+ businesses like yours find options that fit their needs. ## Features comparison In the accounting market, Xero and Wave both offer a range of features, and comparing them goes beyond just looking at price. Understanding which functionalities align with your specific requirements can help maximize value and eliminate unnecessary spending. Below is a breakdown of the most critical aspects to consider. \[[1](#source-item-1)\] Key features rated by users Features selected based on 36,417 reviews from Accounting users. about the Fit Score methodology. Fit Score methodology To calculate the Fit Score, our proprietary methodology factors in the following: - The importance level for each feature. By default, this is determined by user reviews. They can rate a feature Critical, High, Low, or Not Used. - Feedback from real users on how the product performs for each key feature, derived from verified user reviews and ratings. Please note: - To calculate the Fit Score, the number of reviews for those features and the actual rating carry the same weight. You might see that, in some cases, even though the ratings are the same, we still determine a winner because it had more reviews. - If the Fit Score is not shown for a specific product, that only means there are currently not enough relevant data points to develop a meaningful score. It does not indicate that the product should be excluded from further evaluation. Xero 83%Fit High performer Feature ratings Financial Reporting 4.4 General Ledger 4.4 Bank Reconciliation 4.5 Billing & Invoicing 4.6 Wave 80%Fit Feature ratings Financial Reporting 4.4 General Ledger 4.2 Bank Reconciliation 4.3 Billing & Invoicing 4.6 Financial Reporting 4.4 (486) 4.4 (248) Xero users appreciate the extensive financial reporting capabilities, noting the ability to generate various types of reports, including balance sheets, income statements, and budget variance analysis. They value the customizable reports and real-time tracking features, which they say help in making informed business decisions. However, some users mention difficulties in finding specific financial information without running detailed reports. Wave users, on the other hand, find the financial reporting features easy to use and sufficient for small businesses. They appreciate the ability to filter reports and the user-friendly interface, though some mention the lack of customization options. Overall, users find Xero's financial reporting comprehensive and customizable, while they value Wave for its simplicity and ease of use. General Ledger 4.4 (469) 4.2 (166) Xero users find the general ledger feature comprehensive and user-friendly, appreciating its transparency, accuracy, and real-time updates. They value the ability to customize and filter reports, as well as the automation of transactions. However, some users mention a need for better guidance on using different options. Wave users appreciate the ease of use and automatic recording of expenses and income in the general ledger. They find it suitable for small businesses, though some mention it can be oversimplified for more complex needs. In summary, users value Xero's detailed and customizable general ledger, while they find Wave's general ledger easy to use and suitable for basic accounting needs. Bank Reconciliation 4.5 (579) 4.3 (209) Xero users highlight the bank reconciliation feature as critical, appreciating its automation, smart suggestions, and ease of use. They value the ability to link live bank feeds and the detailed reporting of reconciled transactions. However, some users report occasional issues with bank feed connections. Wave users find the bank reconciliation feature simple and effective, noting its accuracy and ease of use. They appreciate the ability to sync bank statements, though some mention issues with maintaining direct connections to banks. Overall, users find Xero's bank reconciliation feature robust and time-saving, while they value Wave for its simplicity and effectiveness. Billing & Invoicing 4.6 (633) 4.6 (310) Xero users appreciate the billing and invoicing features, noting the ease of creating and customizing invoices, setting up recurring invoices, and tracking payments. They value the automation and integration capabilities, which they say improve cash flow and financial management. However, some users mention a preference for the old invoicing system. Wave users find the billing and invoicing features easy to use and suitable for small businesses. They appreciate the ability to create professional invoices, send reminders, and accept online payments. Some users mention limitations in canceling recurring invoices. In general, users find Xero's billing and invoicing comprehensive and customizable, while they value Wave for its simplicity and user-friendliness. ## Pricing comparison ### Starting prices Xero $25.00 Flat Rate (Per Month) Free Trial Free Version [View pricing plans](https://www.capterra.com/p/120109/Xero/pricing/) Wave $19.00 Flat Rate (Per Month) Free Trial Free Version [View pricing plans](https://www.capterra.com/p/178021/Wave-Apps/pricing/) ### Value-for-money analysis 4.2 (3290) 4.6 (1720) Comparing reviews of both Xero and Wave reveals how users perceive both products' value for money: Xero reviewers say it offers comprehensive features and flexible pricing plans, and Wave reviewers highlight its free tier and affordability for small businesses. Reviewers find that Xero provides good value for money, citing its extensive features, multi-currency support, and continuous updates. They appreciate the flexibility of its pricing plans, which allow businesses to scale and customize their subscriptions. However, some users note that the costs can add up quickly with add-ons and that the pricing may be high for small businesses or startups. As for Wave, reviewers appreciate its free version, which they say is sufficient for basic accounting needs and offers a range of essential features. They find it particularly beneficial for small businesses and startups due to its cost-effectiveness. Nonetheless, some users mention that advanced features require paid subscriptions, and customer support can be limited unless additional services are purchased. ## Integrations Popular Integrations Compare available integrations between Xero and Wave. ### PayPal Xero Wave ### Shoeboxed Xero Wave ### Zapier Xero Wave ### ActiveCollab Xero Wave ### Gmail Xero Wave ### ApprovalMax Xero Wave ### Microsoft Outlook Xero Wave ### Capsule Xero Wave Total Integrations 144 PayPal Users mention that integrating PayPal with Xero simplifies financial reporting and payment tracking, noting that it automates transaction imports and facilitates easier invoice payments through PayPal links. Stripe Reviewers say that integrating Stripe with Xero streamlines online payment processing, citing that it allows for automatic reconciliation of transactions and simplifies invoicing and fee management. QuickBooks Online Users report that integrating QuickBooks Online with Xero helps in tracking expenses and budgeting, noting that it offers complementary features for global enterprise management. 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[Stripe](https://www.capterra.com/p/123889/Stripe/) - [SugarCRM](https://www.capterra.com/p/231638/SugarCRM/) - [Synchroteam](https://www.capterra.com/p/129634/Synchroteam/) - [Tabology EPOS](https://www.capterra.com/p/154530/BarTab/) - [Tallie](https://www.capterra.com/p/140782/Tallie/) - [Tidy](https://www.capterra.com/p/165462/Tidy/) - [Time Tracker](https://www.capterra.com/p/122309/eBillity-Time-Tracker/) - [TimeCamp](https://www.capterra.com/p/129847/TimeCamp/) - [Timely](https://www.capterra.com/p/142756/Timely/) - [Total Synergy](https://www.capterra.com/p/23086/Synergy-AEC/) - [Tradify](https://www.capterra.com/p/152413/Tradify/) - [Trigger](https://www.capterra.com/p/161804/Trigger/) - [Unleashed](https://www.capterra.com/p/126644/Unleashed/) - [Veeqo](https://www.capterra.com/p/150907/Veeqo/) - [vWorkApp](https://www.capterra.com/p/118760/vWorkApp/) - [webexpenses](https://www.capterra.com/p/140646/webexpenses/) - [WooCommerce](https://www.capterra.com/p/225601/WooCommerce/) - [Workato](https://www.capterra.com/p/148729/Workato/) - [WORKetc](https://www.capterra.com/p/118331/WORKetc/) - [WorkflowMax](https://www.capterra.com/p/226306/WorkflowMax/) - [XEDI Web EDI](https://www.capterra.com/p/165849/Web-EDI/) - [Zahara](https://www.capterra.com/p/152469/Zahara/) - [Zapier](https://www.capterra.com/p/130182/Zapier/) - [Zendesk Sell](https://www.capterra.com/p/199865/Zendesk-Sell/) - [ZENOTI](https://www.capterra.com/p/131057/ZENOTI/) - [Zoho Analytics](https://www.capterra.com/p/129749/Zoho-Analytics/) - [Zoho Books](https://www.capterra.com/p/163115/Zoho-Books/) - [Zoho CRM](https://www.capterra.com/p/155928/Zoho-CRM/) Total Integrations 6 PayPal Users report that they integrate PayPal with Wave to receive payments from international clients, track transactions without logging into PayPal, and simplify accounting and financial management. Wave Integrations (6) - [Gmail](https://www.capterra.com/p/202338/Gmail/) - [Google Sheets](https://www.capterra.com/p/169718/Google-Sheets/) - [Microsoft Outlook](https://www.capterra.com/p/227138/Microsoft-Outlook/) - [PayPal](https://www.capterra.com/p/207944/PayPal/) - [Shoeboxed](https://www.capterra.com/p/222840/Shoeboxed/) - [Zapier](https://www.capterra.com/p/130182/Zapier/) For each product, we show you the most common integrations according to our user reviews and analyze themes in what reviewers say to highlight what you need to know. ## How does the user experience compare on Xero vs Wave? ### Overall rating 4.4 (3290) 4.4 (1720) ### User interface Xero Wave ### Customer service and support Xero Email/Help Desk FAQs/Forum Knowledge Base Phone Support 24/7 (Live rep) Chat Wave Email/Help Desk FAQs/Forum Knowledge Base Phone Support 24/7 (Live rep) Chat ## What users say about the pros and cons of Xero vs Wave Xero and Wave are two options for accounting software users to meet their business needs. Both products have been reviewed on Capterra. Check out what real users say about Xero vs Wave to find the best fit for you. Users appreciate Xero for its comprehensive accounting software, noting its automation of repetitive tasks and real-time financial data. They also value its invoicing capabilities, highlighting the ease of creating professional invoices and converting quotes. Additionally, Xero is praised for its suitability for small businesses, allowing multiple users and providing robust financial management. At the same time, Wave users commend its invoicing features, particularly the customization options and ease of use. They also find Wave's accounting software beneficial, especially its free core features and automation. Wave is also favored by small business owners for its cost-effectiveness and simplicity. As for the cons, Xero users mention its pricing structure as a significant drawback, citing high costs for small businesses and frequent price increases. They also find reporting and bank integration challenging, noting limited customization and frequent integration issues. Meanwhile, Wave users highlight problems with bank account integration, mentioning inaccuracies and disconnections. They also express dissatisfaction with payment processing delays and limited financial reporting capabilities, indicating a need for more customization and detailed reports. \[[2](#source-item-2)\] Pros Xero NC Nikki C permit technicianConstruction, 2 - 10 employeesUsed the software for: More than 2 years. “What I like most about Xero is its clean, easy-to-use interface and automation features, especially bank reconciliation and invoicing, which save time and make managing finances much more straightforward.“ April 27, 2026 NC Nikki C permit technicianConstruction, 2 - 10 employeesUsed the software for: More than 2 years. “It’s an easy-to-use platform that simplifies accounting tasks like invoicing, bank reconciliation, and expense tracking with strong automation features.“ April 27, 2026 Wave Ron W Property Management, Development and InvestmentReal Estate, 2 - 10 employeesUsed the software for: 1-2 years. “Love the free version but it’s super basic and limited but upgrading to paid version is very expensive when using it for more than 1 business and offers inadequate features to do the job vis-a-vis other competitors in the market. If … WAVE would add AI, connectivity to banks and credit cards, and features to operate multiple businesses in the paid subscription I’d use it.“ December 7, 2025 Amber M OwnerDesign, Self-employedUsed the software for: 1-2 years. “The option to create recurring invoices has been amazing, as well as the reports I can pull at the end of each year.“ March 24, 2026 Cons Xero DT Danielle T AP, AR, PayrollMechanical or Industrial Engineering, 11 - 50 employeesUsed the software for: More than 2 years. “When you have more than one entity i find that you cant look at two company files at the same time one kick s the other one out and then it crashed TAHT is sooooo annoying as i have to have atleast 2 entitoies open everye day“ March 4, 2026 BN Bill N Senior Financial AccountantAccounting, 501 - 1,000 employeesUsed the software for: 1-2 years. “Reporting and workflows aren’t very flexible like some other larger ERP systems, which can be frustrating especially as our company grew in size and required more advanced and granular reporting.“ April 19, 2026 Wave KW Kristyne W Travel AdvisorHospitality, Self-employedUsed the software for: 1-2 years. “I tried to set up a way to send invoices and receive payments through Wave, but even after I was approved, they removed my access due to a blanket assumption around travel agencies. “ February 24, 2026 Edgar R EngineerAccounting, Self-employedUsed the software for: 1-2 years. “Payment processing fees are a bit high, and customer support is limited if you don't pay for a plan.“ January 9, 2026 * * * Sources 1. Our research team identified features from vendor websites based on their analysis of what users find valuable or expect from accounting software. This list is not exhaustive. For additional features, refer to the vendor’s website. 2. Review excerpts are passages extracted from longer reviews written by verified reviewers. We obtain these excerpts by applying an algorithm that considers factors including, but not limited to, length, topic coverage, and thematic relevance. Excerpts are evaluated for positive or negative sentiment and receive a sentiment score. They represent user opinion and do not represent the views of, nor constitute, an endorsement by Capterra or its affiliates. Excerpts are not edited for clarity or grammar. * * * Need Help Deciding Between Xero and Wave? Talk to a Capterra advisor for free and get results within 15 minutes. 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