Wave vs Teamwork

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 →

Teamwork

Teamwork is a project management platform built specifically for client-facing teams and agencies. It includes built-in time tracking, invoicing, and client portals that make it ideal for professional services businesses managing multiple client projects simultaneously. Teamwork helps agencies deliver projects on time and on budget while keeping clients informed.

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

• ✓Built specifically for agencies and client-facing teams
• ✓Built-in time tracking and invoicing saves money on separate tools
• ✓Client portal keeps clients informed without giving full system access
• ✓Strong resource and budget management features

Cons

• ✗Less suitable for internal team project management
• ✗Interface feels less modern than competitors
• ✗Some key features only on higher paid tiers
• ✗Can be complex to set up for new users

Best For

Solopreneurs and very small businesses wanting free accounting and invoicing software

Best For

Agencies and professional services firms managing multiple client projects