Wave alternative
Billy vs. Wave: what is "free" actually worth?
Wave is North America's best-known free accounting tool: unlimited invoices on the Starter plan, monetized through payment processing fees (2.9% + $0.60 per card payment, 1% ACH) and the Pro plan ($19/month).
Two things to know first. One: on the free plan you cannot send invoices from Wave — per the vendor that requires Pro, enabled online payments or payroll; otherwise you download a PDF and deliver it yourself. Two: Wave discontinued support outside the US and Canada and explicitly refers users elsewhere to a different provider.
Why freelancers pick Billy over Wave
In software, "free" usually means you are part of the business model. Billy flips that — you pay a little and get an assistant that works.
- Invoice from an AI prompt — Wave markets no AI feature at all
- Send invoices from the tool itself — not possible on Wave's free plan
- Usable in Germany and Austria at all — Wave serves the US and Canada only
- US-, German- and Austrian-compliant invoices (§14 UStG, §11 öUStG, small business, reverse charge)
- Transparent flat price instead of fees per payment
Billy vs. Wave at a glance
| Billy | Wave | |
|---|---|---|
| AI & automation | ||
| Create an invoice from an AI prompt | Yescore feature | No |
| Has an AI assistant at all | Yes | Nomarkets no AI features |
| Automatic payment reminders | Yesfrom the entry plan | Partiallyneeds Pro or online payments; no automatic late fees |
| AI receipt capture (OCR) | Nodeliberately not | Yes |
| Design & interface | ||
| Ready-made invoice designs | Yeswith live preview | Partially3 designs; font tied to the design |
| Custom branding | Yeslogo, colors, layout | Partiallylogo & color; no custom font |
| International & compliance | ||
| Available in Germany & Austria | Yes | NoUS & Canada only |
| Germany & Austria (§14 UStG / §11 öUStG) | Yespreconfigured | No |
| Invoices in German | Yes | NoEnglish only, vendor says permanently |
| Limits & price | ||
| Send invoices from the tool itself | Yes | Partiallynot possible on the free plan — PDF/link only |
| No fee per payment | Yessubscription, not commission | No2.9% + $0.60 per card, 1% ACH |
| Entry price (net/month) | from €9 | Starter $0; Pro $19 ($190/year) |
Wave pricing and feature claims per the vendor, verified on July 31, 2026. Prices net; subject to change.
When Wave is the better choice
To be fair: for US or Canadian freelancers who want to process card payments through Wave anyway and need simple free bookkeeping, Wave is hard to beat. Billy is not an accounting tool — it wins at invoicing, design and dunning.
See all Wave alternatives