Wave vs Zoho Invoice: Which Free Invoicing Tool Wins?

At a glance

Compare	WaveStarter: $0; Pro: US$19/month	Zoho InvoiceFree; usage limits apply
Best starting point	Invoicing plus bookkeeping	Invoicing-focused workflow
Business location	US and Canada; US territories excluded	Check local edition and payment gateways
Subscription	Starter $0; Pro US$19/month or US$190/year	No subscription fee for Invoice
Automation costs	Bank imports included with Pro	Recurring invoices and reminders listed
Usage limits	Unlimited invoices and bookkeeping records	Check Settings > Usage Stats

How we compared: This is a research-based comparison of official pricing and product documentation checked on September 7, 2026. Recommendations are our editorial judgment. Examples below are hypothetical. This article contains no affiliate links.

01Start with your location and the job you need done

If you work alone, choosing an invoicing app usually starts with a simple problem: you have finished the work and need to get paid. But sending an invoice and keeping a complete set of business records are different jobs. Decide whether you want one system to cover both before comparing subscription prices.

Wave is available for businesses in the United States and Canada; US territories are not supported. That rules it out as our recommendation for a new UK- or Australia-based business. A client living overseas is a different question from where your own business is located. Wave also says the business currency cannot be changed after setup. Wave account requirements

For a UK or Australian reader, start by checking Zoho Invoice’s local offering and supported payment gateways, or compare locally supported accounting products. We do not treat a configurable tax field as proof that software satisfies every local reporting requirement.

Before you buyWave Starter vs Pro for a Solo BusinessWave Starter or Pro: bank import, receipts, reminders and card fees.See the plans →

02What is free, and what costs extra?

Wave lists free invoicing and bookkeeping under Starter. Pro adds automatic bank imports, receipt capture and other automation. Receipt scanning also appears as a separate paid add-on, which is worth comparing if that is the only extra feature you need. Wave plans and features

Zoho Invoice lists recurring invoices, payment reminders, time and expense tracking, and a customer portal in its free product. It is not the same product as Zoho Books. When comparing an accounting workflow, do not assume an invoicing app supplies all the reports your bookkeeper needs. Zoho Invoice features

For example, a designer who already keeps accounts elsewhere may only need invoice creation and payment tracking. A consultant keeping business finances in a spreadsheet should first list the reports they need at month-end. Choosing the smaller tool saves effort only if it covers the actual job.

03Will you hit Zoho Invoice’s limits?

Do not budget around a universal promise of 500 invoices, two users and three projects. Zoho’s current invoice-limit FAQ directs users to Settings > Usage Stats for their organization’s allowance and says limits are updated annually. The allowance resets based on the organization’s creation date. This is more useful than assuming every regional account has identical limits. Zoho’s invoice-limit guidance

Before moving your records, check invoices, users and projects separately. Four clients receiving one invoice a month would mean 48 invoices a year in a hypothetical steady workload. The same four clients could generate more if you invoice deposits, milestones or separate jobs. Count how you actually bill rather than relying on client count alone.

Neither a free plan nor the absence of a paid Invoice tier guarantees that pricing or limits will never change. Keep an export and review your allowance as volume grows.

04A small-business cost example

The following is a US-dollar illustration for four domestic, non-Amex card payments of US$500 each per month. It excludes refunds, disputes, international cards, currency conversion and taxes. It is not a quote for a Canadian account.

The rate comes from Wave’s pricing page. Its Pro discount removes the fixed card fee for the first ten eligible transactions per monthly subscription period, not the percentage fee. At four such payments, that saves US$2.40; it does not by itself justify a US$19 subscription. Evaluate Pro for the work its automation removes as well.

For Zoho Invoice, get the actual rate from the gateway available to your business. Calculate subscription + payment volume × percentage fee + payment count × fixed fee + other charges. Bank payments are not universally free either: distinguish a transfer received directly in your bank account from a payment processed inside an app.

05Try the same invoice workflow before moving clients

Use dummy information or an invoice addressed to yourself. Do not send test invoices or payment requests to real clients.

1. Create one customer and a two-line invoice, including a discount or tax field only if relevant to your work.
2. Preview the PDF and the customer’s payment screen on a phone. Check the business name, due date and instructions.
3. Set up a recurring invoice or reminder, if needed. Identify whether the required feature is available on your intended plan.
4. Record a partial payment and inspect the remaining balance.
5. Find the invoice and transaction export. Check that you can reconcile totals outside the app.

The useful result is a list of missing steps, not an overall “ease of use” score. If a necessary step needs a paid plan, add that cost before deciding.

06When neither option is enough

If you need inventory accounting, a particular tax-filing integration or consolidated reporting across businesses, build a separate shortlist around those requirements. Adding another invoicing tool will not resolve a gap in your accounting process.

For an accountant handoff, ask for the exact reports and access role required. An additional user in an invoicing app is not automatically equivalent to access to full bookkeeping records. If you are already using a paid accounting product, check its invoicing features before duplicating your customer records elsewhere.

07Frequently asked questions

Is “free” just a trial?

The reviewed pages offer a free product or plan rather than only a time-limited trial. Payment services and optional upgrades can still cost money. Keep the subscription and transaction-fee questions separate.

Should I move all my historical invoices immediately?

Start with a sample import and reconcile customer names, invoice numbers and balances. Keep the original export and PDFs. Move active work only once you know how credits, partial payments and outstanding invoices will be represented.

Which would we shortlist first?

For an eligible US or Canadian business needing bookkeeping alongside invoices, start with Wave. For an invoicing-focused business, start with Zoho Invoice after checking its local payment options and account allowance. If broader accounting is the real requirement, also read our FreshBooks vs QuickBooks Online comparison.

Read next

Before you buyWave Starter vs Pro for a Solo BusinessWave Starter or Pro: bank import, receipts, reminders and card fees.See the plans →

Before you buyZoho Invoice Free Plan Limits for Solo UseWhat the free Zoho Invoice plan covers and when to move to accounting software.See the plans →

The big pictureInvoicing and Bookkeeping Tools for One PersonEvery invoicing and bookkeeping guide for one person, from first setup to choosing a plan.