FreshBooks vs Wave for Canadian freelancers and sole props

Canadian freelancers get told to “just use FreshBooks” or “Wave is free, why would you pay?” Those are different products. Wave Starter is a real $0 ledger and invoice tool. FreshBooks is a paid invoicing product that grew accounting features — and it caps how many clients you can bill on the cheap plan.

This is a Canada-only head-to-head of FreshBooks and Wave. FreshBooks and Wave prices re-checked on public Canadian/vendor pages, 6 September 2026. Buttons are official marketing URLs, not affiliate trackers. I have not closed two practice files side by side for NorthOffice.

Who this comparison is for

• Sole props and freelancers who invoice in CAD and may need GST/HST on the invoice.
• People choosing a first tool, not replacing a bookkeeper’s QuickBooks file — that three-way is FreshBooks vs QuickBooks vs Xero.
• Anyone who was told Wave is “completely free” including receipts, bank feeds, and card processing. It is not.

Snapshot (public pages, 6 September 2026)

Wave — free invoices, paid everything around them

Starter is $0 for unlimited estimates, invoices, bills, and bookkeeping records. That is why it belongs in every honest Canadian freelancer roundup. Source: https://www.waveapps.com/pricing.

Pro is $25 CAD/month billed monthly, or $250 CAD/year. The same page also shows US$19/month on the same public pricing page (USD display beside CAD). Budget the CAD line if you are in Canada; do not paste the US$19 figure onto a CAD spreadsheet. Wave’s pricing footnotes: prices do not include applicable tax. Confirm GST/HST on the Pro bill at checkout.

Receipts: $11/month or $96/year on Starter (add-on). Digital receipt capture listed as included on Pro in the public feature compare. If the reason you would pay FreshBooks is “I photograph every lunch,” compare Wave Pro ($25 CAD/month) to FreshBooks Plus ($42 CAD/month) — not Wave Starter to FreshBooks Lite. Wider receipt field (QBO, Hubdoc, Dext, Expensify): expense and receipt tracking for Canadian sole props. Billable hours and timer-to-invoice tools: time tracking for Canadian freelancers.

Card fees are not part of “free invoicing.” 2.9% + $0.60 (Visa/Mastercard); 3.4% + $0.60 Amex on Starter. Interac e-Transfer still lives at the bank for most Smithville sole props; mark the invoice paid. Do not confuse that with Interac debit at a café till — that is the payment-processor and POS guides.

FreshBooks — you pay for chasing money

Regular Canadian prices on freshbooks.com/en-ca/pricing (6 September 2026): Lite $26 CAD/month, Plus $42 CAD/month, Premium $72 CAD/month. The page was also showing 90% off for three months. Budget the “was” price. Source: https://www.freshbooks.com/en-ca/pricing.

Lite is five billable clients. That is the trap. A freelancer with six regulars is already on Plus. Lite still includes estimates, invoices, tax-time reports, and the published payment methods (cards, Apple Pay, Google Pay, PAD, buy now pay later). Late reminders, deposits, and a client portal are why people leave Wave Starter — confirm those boxes on the live compare for the tier you are buying.

Receipt scanning and accountant access are listed from Plus. PaymentEvolution payroll has no public self-serve CAD price. Team members are $13 CAD/month per person. Advanced Payments is $25 CAD/month.

GST/HST is the same honesty as Wave: you set the rate, you file. Register first: how to register for GST/HST in Canada. Ontario walkthrough: how to invoice GST/HST in Ontario.

What must be on the invoice either way

CRA’s input-tax-credit information rules scale with the amount. Under $100, $100–$499.99, and $500+ need different fields — registration number, tax shown, buyer name, description, payment terms. Official chart: CRA ITC information requirements. Neither app will refuse a non-compliant PDF. You still set the template. Wider tool list: invoicing software for Canadian freelancers.

When to leave this two-product fight

If a bookkeeper already lives in QuickBooks or Xero, invoice from that ledger. Paying FreshBooks and QBO is waste. The Canada-only three-way, including payroll reality: FreshBooks vs QuickBooks vs Xero. The wider ledger field including Sage: best accounting software in Canada.

A practical pick

1. New sole prop, few invoices, e-Transfer, no staff: Wave Starter.
2. Same person, but receipts and bank feeds are the pain: Wave Pro at $25 CAD/month, not FreshBooks Lite.
3. Unpaid invoices are the business and you have five or fewer clients: FreshBooks Lite, then Plus the week you add a sixth.
4. Bookkeeper already in QBO or Xero: do not start here — use the accounting guides.
5. Need 13% Ontario HST on the PDF: either tool, then the Ontario how-to.