Choose Wave if you
- Run a service business or freelance in the US or Canada
- Do not sell products or track stock
- Want bank transactions imported automatically
- Want many users on one low-priced plan
Side by side · sourced from Wave's own pricing page
Profitbooks Vs Wave Accounting Software
ProfitBooks and Wave are both cloud accounting tools with free plans. Wave suits North American freelancers and service businesses: its Pro plan adds automatic bank feeds and unlimited users. ProfitBooks suits businesses that sell products: it adds stock, purchase orders, warehouses and team roles, with paid plans from $9.95 a month.
1,00,000+ businesses use ProfitBooksFree plan on bothPrices in US dollars
Wave vs ProfitBooks · at a glance
| Wave | ProfitBooks | |
|---|---|---|
| Free plan | Starter, $0 | Startup, $0 |
| Next plan up | Pro, $19 a month | Growth, $20 a month |
| Stock and POs | No module | Built in |
| Warehouses | None | 3 on Growth |
| Bank transactions | Auto-import on Pro | CSV or Excel import |
| Users | Unlimited on Pro | 10 on Growth |
Prices as published on 2 November 2026
📦Stock updatedFrom purchase order PO-0042
🏦Statement importedRules matched 31 of 40 lines
The short version
Which one should you choose?
Neither is better for everyone. The deciding factors are inventory, your team and where you operate.
Choose ProfitBooks if you
- Sell products and need stock counts in your books
- Raise purchase orders or keep stock in more than one place
- Need roles, so staff see only the screens they need
- Work in India, the UAE or another market Wave does not focus on
Feature by feature
ProfitBooks vs Wave, row by row
Filter by what matters to you. Wave facts come from Wave's pricing page and our hands-on comparison guide.
Showing all 11 rows
| Compare | ProfitBooks | Wave |
|---|---|---|
| Free plan | Startup, free forever1 user, 10 invoices a month, 50 customers, 10 products | Starter, $0Invoicing and bookkeeping |
| Paid plans | Essential $9.95, Growth $20, SMB Pro $35 a monthOr $99, $199 and $349 a year | Pro, $19 a monthOr $190 a year |
| Invoices | 10 a month free, 1,000 a year on Essential, 5,000 on Growth, unlimited on SMB Pro | Unlimited on every plan |
| Stock tracking | Yes, on every plan | No inventory moduleProducts and income by item only |
| Purchase orders | Yes, linked to stock | No purchase-order flow |
| Warehouses | 1 free, 3 on Growth, unlimited on SMB Pro | None |
| Users | 1 on Startup and Essential, 10 on Growth, 25 on SMB Pro | Unlimited on Pro |
| Roles and permissions | Role-based access, including a sales roleCustom roles on SMB Pro | Admin, editor and viewer roles on Pro |
| Bank transactions | Import CSV or Excel statements from any bankBank rules categorise matching lines | Auto-import through Plaid on ProNot all banks are supported |
| Sales tax, GST and VAT | Set up the taxes you chargeGST for India and VAT for the UAE built in | Sales tax on invoices and a sales tax report |
| Payroll | On Growth and aboveBuilt for Indian payroll | Paid add-onUS and Canada |
Wave prices and features from waveapps.com/pricing as published on 2 November 2026, and from our Wave vs ProfitBooks guide. Prices exclude sales tax and change from time to time, so check both sites before you buy. ProfitBooks prices: see every plan.
What it costs you
Three businesses, three answers
Monthly prices from each company's pricing page. The point is not the dollar. It is what you get for it.
Solo freelancer
- Wave
- Starter, $0
- ProfitBooks
- Startup, $0, up to 10 invoices a month
A tie. Pick the one you find easier.
Service business, three people
- Wave
- Pro, $19 a month, with bank feeds
- ProfitBooks
- Growth, $20 a month, up to 10 users
Within a dollar. Wave if bank feeds matter most, ProfitBooks if you want roles.
Product business, five people
- Wave
- Pro, $19 a month, plus a separate stock tool
- ProfitBooks
- Growth, $20 a month, inventory and 3 warehouses included
ProfitBooks. Stock in the same books saves a second app.
Chosen after comparing
“After evaluating almost 10 different software, we finally bought ProfitBooks and it turned out to be the best decision for our business.”
Beyond invoicing
What you get with ProfitBooks that Wave leaves out
These are the rows above where ProfitBooks has the answer and Wave does not.
Inventory
Stock on hand, a low stock register, production and wastage, and inventory valuation.
Purchase orders
Order from suppliers, receive the goods and keep stock and payables in step.
Multiple warehouses
Track stock by location and move it between warehouses, with 3 on Growth and unlimited on SMB Pro.
See ProfitBooks before you decide
Invoices, expenses, inventory and reports in one short walkthrough.
Keep comparing
More detail on Wave, and how ProfitBooks compares with other tools.
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
How should I record expenses paid by company credit card?
Treat the card like a small loan account.
1Create a Credit Card account under Unsecured Loans
2Record expenses with the credit card as payment account
3Pay the bill via Make Payment, paying to credit card
Record any interest or late payment penalties separately through Make Payment, as an indirect expense.
Good, that's cleaner.
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 →
Frequently asked questions
What is the difference between ProfitBooks and Wave?
The biggest difference is inventory. ProfitBooks tracks stock, purchase orders and warehouses, and our comparison guide found no inventory module in Wave. Wave's Pro plan adds automatic bank feeds and unlimited users, which suits North American service businesses. ProfitBooks suits businesses that sell products or need roles for a team.
Is Wave Accounting free?
Wave's Starter plan costs $0, according to Wave's pricing page. Its Pro plan is $19 a month or $190 a year and adds automatic bank imports. Card payments carry per-transaction fees on both plans. ProfitBooks also has a free plan, for one user and 10 invoices a month.
Which is cheaper for a small team?
It depends on what you need. For a three-person service business, Wave Pro at $19 a month and ProfitBooks Growth at $20 a month are within a dollar. Wave includes bank feeds at that price. ProfitBooks Growth includes inventory, 3 warehouses, multi-currency and up to 10 users.
Does Wave have inventory management?
Not as a dedicated module. Our comparison guide found you can create products and track income by item in Wave, but there is no stock-quantity tracking, purchase-order flow, warehouse management or inventory valuation report. ProfitBooks includes all of these.
How do bank transactions get into ProfitBooks?
You import your bank statement as a CSV or Excel file from any bank. You map the columns once, and bank rules categorise matching transactions automatically on every import. You then confirm the rest and reconcile the account.
Can I use ProfitBooks in the US or Canada?
Yes. ProfitBooks can be used in any country, and plans outside India are priced in US dollars. You set up the sales taxes you charge, and the Growth plan and above let you invoice in multiple currencies.
How do I switch from Wave to ProfitBooks?
Pick a cut-over date, export your customer, vendor and product lists as spreadsheets, and import them into ProfitBooks. Enter your opening balances and stock counts, then start invoicing. Our support team helps on chat from Monday to Friday.
Try ProfitBooks next to Wave
Open a free account, run a week of your real invoices and stock through it, and compare for yourself.
Try ProfitBooks For Free →Your books could be up to date before the day ends.