Your company’s size, budget and operational requirements will determine which of Bill.com and Wave to use for invoicing. Although both platforms have robust invoicing capabilities, they cater to distinct market niches.
Wave targets freelancers and small businesses with a freemium pricing model that includes a free Starter plan and a $9.50 monthly Pro plan. Bill.com is targeted at well-established businesses and charges $45 for Essentials and $79 for Corporate each month. Both charge 2.9% for credit card transactions. However, Bill.com has a flat rate while Wave charges a $0.60 fee per transaction which is waived for the first ten transactions on Pro. Their different target markets are reflected in this pricing disparity.
In addition to CRM integrations with well-known platforms like Salesforce and HubSpot, Bill.com provides a comprehensive feature set for complex businesses including time tracking, multiple accounting software integrations and the ability to create custom reports. Wave has few integrations, mostly through QuickBooks and Zapier and offers basic invoicing and expense tracking but lacks time tracking and project-based billing. Bill.com’s mileage tracking information is less precise than Wave’s which is dependent on an external integration.
Both Wave and Bill.com have mobile apps for iOS and Android that are easy to use. While Bill.com provides a greater range of mobile features, Wave focuses on mobile invoicing and payment management. While neither platform offers round-the-clock assistance, Bill.com offers phone support in addition to email and chat. Wave only offers these services.
Bill.com is made for independent contractors, small, medium-sized businesses and large corporations. Its scalability and limitless storage make it perfect for expanding companies. Wave does not aim for mid-market or enterprise growth but it does support an infinite number of users and clients, serving independent contractors and small businesses.
Wave offers excellent value for basic needs and is perfect for independent contractors and small businesses looking for professional, reasonably priced invoicing. Growing SMBs and businesses that require sophisticated features like time tracking and customized reporting can benefit from Bill.com. The decision between them is based on budget and business complexity with Bill.com emphasizing sound financial management and Wave emphasizing accessibility.
| Bill.com | Wave | |
|---|---|---|
| Core Features | ||
| Custom Templates | Yes | Multiple customizable invoice templates |
| Send Estimates / Quotations | Yes | Yes |
| Recurring Billing Automation | Yes | Yes |
| Expense Tracking | Yes | Yes |
| Time Tracking | Yes | No |
| Mileage Tracking | Limited information available | Yes (via Driversnote integration) |
| Automated Payment Reminders | Yes | Yes |
| Project-Based Billing | Limited information available | No |
| Tax Handling | Yes | Yes (basic tax support) |
| User Permissions / Role Management | Yes | Yes |
| File Uploads | Yes | Yes |
| Pricing and Plans | ||
| Free Plan Availability | Yes | Yes |
| Pricing Range | Essentials: $45/month Team: $55/month Corporate: $79/month Enterprise: Custom pricing |
Starter: $0/month Pro: $9.50/month |
| Trial Period | Yes (14-day free trial) | No (free plan available) |
| User Limits | No specific user limits | Unlimited users |
| Client Limits | No specific client limits | Unlimited clients |
| Storage Limits | Unlimited storage | Yes (via Driversnote integration) |
| Payment Processing Fees | Credit/Debit cards: 2.9% | Starter: 2.9% + $0.60 Pro: 2.9% (first 10 transactions free) Then 2.9% + $0.60 |
| Ease of Use | ||
| User Interface | Simple | Simple |
| Onboarding Experience | Yes | Yes |
| Mobile App Availability | iOS & Android | iOS & Android |
| Mobile App Functionality | Invoicing, time tracking, payment management | Invoicing and payment management |
| Integration | ||
| Payment Gateways Supported | Credit Cards, Debit Cards, PayPal, Wire Transfers, Paper Checks, Virtual Cards |
Credit cards, bank transfers, ACH payments |
| Accounting Software Compatibility | QuickBooks, Xero, NetSuite, Sage, Dynamics, FreshBooks, and more |
QuickBooks, FreshBooks, spreadsheets (export supported) |
| CRM Integration | Salesforce, Zoho, HubSpot, Pipedrive, Zendesk, ServiceNow |
BlueCamroo Various CRMs via Zapier |
| API Availability | Yes | Yes |
| Reporting & Analytics | ||
| Bank Connections | Yes | Yes |
| Pre-Built Financial Reports | Yes | Yes |
| Custom Report Creation | Yes | No |
| Security & Compliance | ||
| Dashboard Metrics | Yes | Yes |
| Data Encryption | Yes | Yes |
| GDPR Compliance | Yes | Yes |
| Backup Options | Automatic | Automatic |
| Customer Support | ||
| Support Channels | Chat, Email, Phone | Email, Chat |
| Help Center / Knowledge Base | Yes | Yes |
| 24/7 Support | No | No |
| Adaptability | ||
| Multi-Currency Support | Yes | Yes |
| Localization | English | English |
| Industry-Specific Customization | Yes | Yes |
| Scalability | Freelancers / SMBs / Enterprises | Freelancers to Small Businesses |
| Read Bill.com Review | Read Wave Review |
