Wave and Bonsai are two different software platforms for business management and invoicing that target small businesses and freelancers. They have different pricing structures and feature specializations for various business scenarios.
Bonsai and Wave approach pricing differently. Wave provides a free Starter plan with an unlimited number of users and clients while Bonsai operates on a premium model with no free options. With prices ranging from Basic to Elite, they are more expensive than Wave which offers a free trial.
Features for invoicing such as expense tracking, estimates and customizable templates are available on both platforms. While Wave provides mileage tracking via Driversnote integration, Bonsai offers time tracking and project-based billing integrated into the system. Basic tax processing and automated payment reminders are supported by both but Bonsai provides more extensive tax capabilities.
Bonsai provides businesses with exceptional branding flexibility by providing hundreds of customizable invoice templates. For professional document management and team collaboration, Wave provides a variety of editable templates that support file uploads and user permissions.
In contrast to Bonsai’s Basic, Essentials and Premium plans which only support three users each, Wave’s free plan allows for unlimited user management.
In addition to standard Stripe fees for Bonsai, Wave charges 2.9% + $0.60 for Starter users and 2.9% + $0 for Pro users. In comparison to Bonsai’s restricted options, Wave provides more payment flexibility, API access and Zapier connectivity.
Wave has pre-built financial reports and bank connections. Bonsai offers better reporting with custom report creation. This gives businesses more flexibility to analyze and make decisions.
Both platforms provide email and chat support, core invoicing features and iOS and Android mobile apps but neither offers round-the-clock assistance.
Wave and Bonsai are both good platforms for small businesses and freelancers but Wave’s unlimited user access allows for better team growth accommodations.
Bonsai is more expensive but offers project management, time tracking and customization for service businesses. Wave’s free plan is good for freelancers with a small budget and basic invoicing needs.
| Bonsai | Wave | |
|---|---|---|
| Core Features | ||
| Custom Templates | Hundreds of customizable invoice templates | Multiple customizable invoice templates available |
| Send Estimates/Quotations | Yes | Yes |
| Recurring Billing Automation | Yes | Yes |
| Expense Tracking | Yes | Yes |
| Time Tracking | Yes | No |
| Mileage Tracking | Yes | Yes, available through Driversnote integration |
| Automated Payment Reminders | Yes (reminder button available) | Yes |
| Project-Based Billing | Yes | No |
| Tax Handling | Yes | Yes (basic tax support) |
| User Permissions/Role Management | Yes | Yes |
| File Uploads | Yes | Yes |
| Pricing and Plans | ||
| Free Plan Availability | No (7-day free trial only) | Yes |
| Pricing Range | Basic: $15/month Essentials: $25/month Premium: $39/month Elite: $59/month |
Starter: $0/month Pro: $16/month |
| Trial Period | 7 days full unlimited access | No trial (free plan available) |
| User Limits | Basic: 1 user Essentials: 1 user Premium: 1 user Elite: 3 users |
Unlimited |
| Client Limits | Unlimited clients & projects | Unlimited |
| Storage Limits | Not specified | Yes (via Driversnote integration) |
| Payment Processing Fees | Stripe fees apply | Starter: 2.9% + $0.60 Pro: 2.9% + $0 (first 10), then 2.9% + $0.60 |
| Ease of Use | ||
| User Interface | Simple to Moderate | Simple |
| Onboarding Experience | Yes | Yes |
| Mobile App Availability | Both | Available for iOS and Android |
| Mobile App Functionality | Yes | Invoicing and payment management |
| Integration | ||
| Payment Gateways Supported | Stripe Payments Company | Credit card, bank transfer, ACH payments |
| Accounting Software Compatibility | QuickBooks, Xero others | QuickBooks, FreshBooks, spreadsheets, export capabilities for other software |
| CRM Integration | Limited CRM integrations | BlueCamroo, various CRMs via Zapier, API available for custom integrations |
| 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 | FDIC pass-through deposit insurance eligible | Yes |
| GDPR Compliance | Yes | Yes |
| Backup Options | Automatic | Automatic |
| Customer Support | ||
| Support Channels | Chat/Email | Email, Chat |
| Help Center/Knowledge Base | Yes | Yes |
| 24/7 Support | No | No |
| Adaptability | ||
| Multi-Currency Support | Yes | Yes |
| Localization | Limited languages | English |
| Industry-Specific Customization | Yes (freelancers, contractors) | Yes |
| Scalability | Freelancers and small businesses | Freelancers to Small Businesses |
| Read Bonsai Review | Read Wave Review |
