Wave vs Employment Hero

Wave

Wave is a free accounting and invoicing platform designed for small businesses, freelancers, and solopreneurs. It offers genuinely free accounting, invoicing, and receipt scanning with no subscription fee. Wave makes money through payment processing and payroll add-ons. It is one of the best free accounting tools available for very small businesses with simple needs.

Freemium pricing · Get Pricing →

Employment Hero

Employment Hero is an all-in-one HR, payroll, and benefits platform with a strong presence in Australia and New Zealand. It offers a free HR plan alongside paid payroll and benefits modules, making it accessible for businesses at any stage. Employment Hero also operates a job marketplace called Swag for employees.

Freemium pricing · Get Pricing →

Pros

• ✓Genuinely free accounting and invoicing — no subscription required
• ✓Clean and easy to use interface
• ✓Good enough for most very small businesses and freelancers
• ✓Receipt scanning and bank connections included free

Cons

• ✗Limited features compared to paid alternatives
• ✗Customer support is minimal on the free plan
• ✗Not suitable for growing businesses with complex needs
• ✗Payroll and payment processing add-ons can add up in cost

Pros

• ✓Free HR plan available with core employee management features
• ✓Strong compliance tools for Australian and NZ employment law
• ✓All-in-one platform covering HR, payroll, and benefits
• ✓Employee benefits marketplace with discounts and perks

Cons

• ✗Payroll module costs extra and is best suited for AU/NZ companies
• ✗Limited support and compliance coverage outside Australia and New Zealand
• ✗Some users report the platform can feel complex to navigate

Best For

Solopreneurs and very small businesses wanting free accounting and invoicing software

Best For

Australian and NZ businesses needing full HR suite