You sell products, not just hours
Stock counts live in a spreadsheet next to your books, and they never quite match.
With ProfitBooks: every invoice and purchase moves stock, so on-hand numbers and inventory value stay current.
Free plan · inventory included · priced in US dollars
FREE Wave Accounting Alternative
ProfitBooks is free accounting software and a Wave Accounting alternative for small businesses that sell products. Like Wave, it has a free plan for invoices, expenses and reports. Unlike Wave, it tracks stock, purchase orders and warehouses. You can also give each team member a role that fits their job.
1,00,000+ businesses use ProfitBooksUsed in 100+ countriesFree plan, no time limit
Inventory · Stock on hand
MMaple Street SupplyMain warehouse · 3 locations
| Item | On hand | Status |
|---|---|---|
| Ceramic mug, 12 oz | 142 | In stock |
| Linen tote bag | 18 | Low stock |
| Gift box set | 0 | Reorder |
PO-0042 sent to Harbor Ceramics60 gift box sets
Sample data for illustration
📦Goods receivedStock updated from PO-0041
🧾Invoice paidStock and books in sync
When it is time to look around
Three signs your business has outgrown Wave
Wave is a good free tool for invoicing and simple bookkeeping. These are the points where small businesses start looking for something else.
You reorder from suppliers every week
Purchase orders go out by email, and nobody can see what is on order.
With ProfitBooks: raise a purchase order, then record the goods and the bill when they arrive.
Your team is growing
A new salesperson needs to send invoices, but should not see the bank balance.
With ProfitBooks: give each person a role, including a sales-only role, so they see only their screens.
A two-minute check
Do you need more than Wave?
Tick what is true for your business. If Wave already covers it, the checker says so.
Verdict
Tick what applies to you
The verdict updates as you go.
Want the full picture? See ProfitBooks and Wave side by side.
Inventory, built in
Stock that moves with every invoice and purchase
Our Wave comparison found no stock quantities, purchase orders or warehouses in Wave. In ProfitBooks they are part of the books.
From purchase order to sale, in one place
Send a purchase order, receive the goods and the stock goes up. Invoice a customer and it goes down. Record raw material used in production, finished goods and wastage when you make what you sell.
- Purchase orders and sales orders
- Multiple warehouses and stock transfers
- Production, consumption and wastage
- Low stock, stock summary and valuation reports
Purchase order · PO-0042
HHarbor CeramicsSupplier · Net 30
Gift box set × 60$1,320.00
Ceramic mug, 12 oz × 120$780.00
Total$2,100.00
Stock updatedReady for the supplier bill
Free, with no time limit
What the free plan gives a Wave user
The Startup plan is free forever for one user: 10 invoices a month, 50 customers and 10 products.
Invoices and estimates
Professional templates, estimates you turn into invoices, and payments recorded against each one.
Stock in one warehouse
Up to 10 products with quantities, so you can try inventory on real items before you upgrade.
Expenses and reports
Track running costs by category and see basic financial reports, including P&L and Balance Sheet.
Moving from Wave in four steps
Most businesses switch at the start of a month, so the opening balances are clean.
📤ExportCustomers, vendors, items
📥ImportSpreadsheets into ProfitBooks
⚖️OpenBalances and stock counts
🧾InvoiceFrom day one
See ProfitBooks in action
Sales, expenses, inventory and reports in one short walkthrough.
Still deciding? Compare in detail.
Side-by-side pages and guides for Wave users.
Your success is our success.
We only win when you do. From the day you sign up, real people and practical resources are on your side.
Real peoplenot bots
3 languagesin-app chat
Mon–Fri5 days a week
RK
Rohan from ProfitBooksSupport · usually replies in minutes
Can I import my bank statement instead of typing transactions?
Yes, export a CSV from your bank and upload it.
1Go to Banking → Bank Reconciliation → Import New Statement
2Pick the date range and bank account
3Select your bank's format, or Others for CSV
4Select the file and click Upload
Download the sample CSV first and check the date format, otherwise the import will fail.
Uploading it now.
Type your question…➤
Start free. Upgrade when you grow.
Every new account starts with a free 15-day SMB Pro trial, then moves to the free Startup plan unless you upgrade.
Startup
For trying it out or very small volumes
$0forever
Start free
- 1 user
- 10 invoices a month
- 10 journal vouchers a month
- Basic financial reports
- 1 warehouse
Essential
For solopreneurs
$99per year
Start free trial
- 1 user
- 1,000 invoices a year
- Invoice reminders and signature
- WhatsApp integration add-on
Growth
For growing teams and service firms
$199per year
Start free trial
- Everything in Essential, plus
- 10 users
- 5,000 invoices a year
- Payroll and multi-currency
- 3 warehouses
SMB Pro
For established businesses
$349per year
Start free trial
- Everything in Growth, plus
- 25 users with custom roles
- Unlimited invoices
- Unlimited warehouses
- Projects and auditor access
Prices in US dollars. Pay by card, American Express or PayPal. Compare every feature →
Used by 100,000+ businesses
What customers say about ProfitBooks on Capterra.
“Very convenient to make customer invoices and apply taxes as needed.”
“An application to manage the company's money.”
“This is the best software so far that I have encountered for use by small commissaries.”
Frequently asked questions
Is there a free alternative to Wave Accounting?
Yes. ProfitBooks has a free Startup plan with no time limit, for one user, 10 invoices a month, 50 customers and 10 products. It includes invoicing, expenses, stock in one warehouse and basic financial reports. Paid plans add more users, invoices and warehouses when you need them.
Does ProfitBooks track inventory?
Yes. ProfitBooks tracks stock from purchase order to sale, across multiple warehouses, including production and wastage. Our Wave comparison guide found no dedicated inventory module in Wave, so product businesses on Wave usually keep stock counts in a separate spreadsheet or app.
Is ProfitBooks better than Wave for a service business?
Not always. Our comparison guide calls Wave a strong option for North American freelancers and service businesses that do not need inventory, especially if automatic bank feeds matter to you. ProfitBooks is the better fit when you sell products, track stock or need roles for a growing team.
Can I use ProfitBooks in the US, Canada or elsewhere?
Yes. ProfitBooks can be used in any country, and plans outside India are priced in US dollars. You set up the taxes that apply to your business, and the Growth plan and above let you invoice in multiple currencies.
How do I move my data from Wave to ProfitBooks?
Pick a cut-over date and export your customer, vendor and product lists as spreadsheets. Import them into ProfitBooks, enter your opening balances and stock counts, and start invoicing. Our support team can help on chat from Monday to Friday.
How do bank transactions get into ProfitBooks?
You import your bank statement as a CSV or Excel file. You map the columns once, and bank rules categorise matching transactions automatically on every import. You then confirm the rest and reconcile the account.
How do I pay for a paid plan?
Paid plans are billed in US dollars, monthly or yearly, and yearly billing costs less. You can pay by card, American Express or PayPal, and you can cancel a paid subscription at any time.
Keep the free plan. Add the stock.
Start on ProfitBooks free today, with invoices, expenses and inventory in the same books.
Try ProfitBooks For Free →Your books could be up to date before the day ends.