Wave vs 15Five

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 →

15Five

15Five is a continuous performance management platform focused on weekly check-ins, OKRs, and employee engagement. It helps managers stay connected with their teams through structured feedback and recognition tools. 15Five is popular with remote and distributed teams that need async communication tools.

Paid 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

• ✓Simple and intuitive weekly check-in format that drives adoption
• ✓Strong OKR and goal-setting tools
• ✓Excellent manager training and coaching resources
• ✓Good engagement survey tools with benchmarking

Cons

• ✗Limited HR functionality beyond performance and engagement
• ✗No payroll or benefits administration
• ✗Reporting could be more advanced for data-driven HR teams

Best For

Solopreneurs and very small businesses wanting free accounting and invoicing software

Best For

Companies focused on employee engagement and performance