QuickBooks Self-Employed and Wave are two of the most widely used accounting tools for freelancers. They're different products designed for different needs — here's our honest comparison.
The Short Answer
- •Choose QuickBooks Self-Employed if you want built-in quarterly tax tracking, automatic mileage logging, and a direct connection to TurboTax for filing.
- •Choose Wave if you want zero monthly cost and solid double-entry accounting without the tax-specific features.
Pricing Comparison
Wave: Free for core features (accounting, invoicing, expense tracking). Wave earns revenue from optional payment processing and payroll features.
QuickBooks Self-Employed: $15/month for the base plan. The Tax Bundle (including TurboTax filing) is $25/month.
If you're just starting out and every dollar counts, Wave's free plan is hard to beat.
Tax Features: QuickBooks Wins Clearly
The biggest differentiator is tax prep:
- •QuickBooks automatically estimates your quarterly taxes based on your income and expenses
- •It sends due date reminders before each quarterly deadline
- •It exports directly to TurboTax for tax season
- •It tracks mileage automatically via the mobile app
Wave does none of these things natively. You can export reports and use them with a separate tax filing tool, but there's no integrated quarterly estimate or mileage tracker.
Invoicing: Roughly Equal
Both tools offer solid invoicing. Wave's invoicing is clean and capable — you can send customized invoices, set up recurring invoices, and accept payments. QuickBooks invoicing is functional but less polished.
If client invoicing is your primary need, consider FreshBooks, which beats both tools in this area.
Ease of Use: Both Are Good
Both tools are designed for non-accountants. QuickBooks has a slightly cleaner mobile app. Wave's web interface is straightforward and doesn't overwhelm beginners.
Our Verdict
Use Wave if you're starting out and want to keep costs at zero.
Use QuickBooks Self-Employed if quarterly taxes, mileage tracking, and seamless TurboTax integration are worth $15/month to you. For most full-time freelancers, they are.
See our full QuickBooks Self-Employed review and Wave review for more details.