Bonsai
Bonsai provides invoicing software with automated billing, payments, and reporti...
Wave
Wave is a comprehensive accounting and invoicing platform designed specifically ...
Bonsai vs Wave: Which Is Better in 2026?
Comprehensive comparison of Bonsai and Wave covering features, pricing, pros & cons, and our expert verdict to help you make the right choice for your business.
Bonsai vs Wave: Overview
Choosing between Bonsai and Wave is a common dilemma for invoicing users. Both tools offer robust solutions, but they cater to different needs and budgets.
Bonsai starts at $15/monthly, while Wave also has a free option and begins at $16/monthly. But pricing is just one factor—let's dive into features, use cases, and which tool fits your specific needs.
Bonsai is best known for streamlines invoicing by automating generation from projects, reducing billing time up to 75%, whereas Wave stands out for completely free core accounting and invoicing features. In this detailed comparison, we'll analyze both tools across pricing, features, ease of use, and ideal use cases.
Quick Overview
Bonsai
- Best for: Freelancers and consultants needing quick proposals, contracts, and invoicing, Creative and marketing agencies managing campaigns and retainers
- Starting price: $15/mo
- Category: invoicing
- Founded:
Wave
- Best for: Small business owners starting out with limited budgets, Freelancers needing basic invoicing and expense tracking
- Starting price: Free
- Category: invoicing
- Founded: 2010
Feature Comparison
Side-by-side feature comparison to help you understand the key differences between Bonsai and Wave.
| Feature | Bo Bonsai | W Wave |
|---|---|---|
| Unlimited invoices | Premium plan only | |
| Online payments | All plans with processing fees | |
| Automated reminders | All plans | |
| Branded invoice templates | Hundreds of customizable templates | |
| Recurring billing | Premium plan for retainers and subscriptions | |
| Multi-currency support | Premium plan with auto-conversion | |
| Multi-tax rate support | All plans | |
| Time and expense billing | Integrated with projects | |
| QuickBooks Online sync | Two-way invoice sync | |
| Financial reporting | Detailed reporting in Premium | |
| Mobile app | On-the-go invoicing | |
| Tax categorization | Expense tracking and deductibles | |
| Client portal | All plans | |
| Unlimited Invoicing | Create and send unlimited invoices on all plans | |
| Online Payment Processing | 2.9% + $0.60 per credit card transaction | |
| Bank Transaction Import | Pro plan only - automatic import and categorization | |
| Receipt Scanning | Basic on Starter, unlimited on Pro | |
| Multi-Currency Support | Handle international transactions and invoices | |
| Mobile App | iOS and Android apps for on-the-go management | |
| Financial Reports | Profit & loss, cash flow, and tax reports | |
| Recurring Invoices | Automate regular billing cycles | |
| Customer Management | Track customer information and payment history | |
| Tax Preparation Ready | Organize books and reports for tax season |
Features Deep Dive
Both Bonsai and Wave offer core invoicing functionality, but their feature sets differ in key areas.
Shared features: Multi-currency support, Mobile app.
Bonsai unique strengths: Unlimited invoices, Online payments, Automated reminders. This makes it ideal for freelancers and consultants needing quick proposals, contracts, and invoicing.
Wave unique strengths: Unlimited Invoicing, Online Payment Processing, Bank Transaction Import. This makes it better suited for small business owners starting out with limited budgets.
Bonsai offers 13 core features with 5 integrations, while Wave provides 10 features and 8 integrations.
Our Verdict
After extensive testing and analysis, Bonsai edges out as the winner in this comparison. While both tools excel in their respective areas, Bonsai offers more features for the price. Wave remains a strong alternative, especially for users who prioritize small business owners starting out with limited budgets.
Bonsai
Best for Freelancers and consultants needing quick proposals, contracts, and invoicing and Creative and marketing agencies managing campaigns and retainers. Streamlines invoicing by automating generation from projects, reducing billing time up to 75%.
Try BonsaiWave
Best for Small business owners starting out with limited budgets and Freelancers needing basic invoicing and expense tracking. Completely free core accounting and invoicing features.
Try WavePros & Cons
Bonsai Pros & Cons
Pros
- Streamlines invoicing by automating generation from projects, reducing billing time up to 75%
- Easy-to-use interface ideal for freelancers and small businesses
- Professional branded invoices build client trust
- All-in-one platform consolidates projects, clients, and billing
- Mobile app for on-the-go invoicing
- Trusted by 500,000+ businesses with strong templates
- Tax categorization and deductible expense tracking
Cons
- Lacks client-facing project visibility with no task progress login for clients
- Requires project creation before some invoicing processes
- Payment processing fees add to overall costs
- Some features like bank sync delayed to 2026
- Limited advanced accounting beyond basics
Wave Pros & Cons
Pros
- Completely free core accounting and invoicing features
- User-friendly interface designed for non-accountants
- Strong mobile app for on-the-go management
- Automatic bank synchronization with major financial institutions
- No setup or monthly fees for basic functionality
Cons
- Payment processing fees are higher than some competitors
- Limited integrations compared to premium accounting software
- Advanced features require paid upgrades
- Customer support primarily through chat, no phone support
Pricing Comparison
Compare the pricing plans and see which tool offers better value for your budget.
💰 Prices last verified: March 9, 2026
Bonsai
subscription- Core invoicing
- Proposals
- Contracts
- Everything in Essentials
- Advanced client management
- Project management
Wave
freemium- Unlimited invoices
- Basic accounting
- Receipt scanning
- All Starter features
- Auto-import bank transactions
- Auto-categorize transactions
- Payroll processing
- Tax filing
- Direct deposits
- Dedicated bookkeeper
- Monthly financial statements
- Expert support
Pricing Comparison Analysis
Bonsai Pricing: Paid plans start at $15/monthly. 2 plans available: Essentials, Premium.
Wave Pricing: Free tier available. Paid plans start at $16/monthly. 4 plans available: Starter, Pro, Wave Payroll, Wave Advisors.
Verdict: Bonsai is more affordable at the entry level. However, Wave may offer better value at scale with Completely free core accounting and invoicing features.
For budget-conscious teams, Bonsai is the clear winner. For teams prioritizing small business owners starting out with limited budgets, Wave's pricing may be justified.
Which Tool Is Best For You?
Choose Bonsai if you need:
- Freelancers and consultants needing quick proposals, contracts, and invoicing
- Creative and marketing agencies managing campaigns and retainers
- Software teams tracking billable hours and projects
- Small businesses streamlining operations
- Streamlines invoicing by automating generation from projects, reducing billing time up to 75%
- Easy-to-use interface ideal for freelancers and small businesses
Choose Wave if you need:
- Small business owners starting out with limited budgets
- Freelancers needing basic invoicing and expense tracking
- Solopreneurs managing simple financial operations
- Contractors requiring professional invoice creation
- Completely free core accounting and invoicing features
- User-friendly interface designed for non-accountants
Final Verdict
Choose Bonsai if: You need freelancers and consultants needing quick proposals, contracts, and invoicing or creative and marketing agencies managing campaigns and retainers. It excels at streamlines invoicing by automating generation from projects, reducing billing time up to 75% and easy-to-use interface ideal for freelancers and small businesses.
Choose Wave if: You prioritize small business owners starting out with limited budgets or freelancers needing basic invoicing and expense tracking. It's particularly strong for completely free core accounting and invoicing features and user-friendly interface designed for non-accountants.
Overall: Bonsai has a slight edge with a 4.3/5 rating from our analysis.
Both tools are solid choices in the invoicing space. Your decision should ultimately depend on your specific requirements, team size, and budget.
Related to Bonsai vs Wave
Bonsai vs Wave FAQ
What are the main differences between Bonsai and Wave?
Bonsai focuses on freelancers and consultants needing quick proposals, contracts, and invoicing with streamlines invoicing by automating generation from projects, reducing billing time up to 75%, while Wave excels at small business owners starting out with limited budgets with completely free core accounting and invoicing features. Key differences include pricing structure, feature depth, and target user base.
Is Bonsai or Wave better for small businesses?
Wave offers a free tier which is great for small businesses starting out. For small businesses with limited budgets, consider starting with the tool that offers Bonsai's lower starting price of $15/month.
What is the pricing difference between Bonsai and Wave?
Bonsai starts at $15/month, while Wave starts at $16/month with a free tier available. Both offer multiple pricing tiers with different feature sets.
Can Bonsai integrate with Wave?
While direct integration may vary, both Bonsai and Wave support third-party integrations through platforms like Zapier. Bonsai integrates with QuickBooks Online, Credit card payment gateways, ACH payments, while Wave works with PayPal, Stripe, Shopify.
Which tool is easier to use, Bonsai or Wave?
Based on user reviews, Bonsai generally receives higher marks for ease of use with a 4.3 rating. However, ease of use can depend on your specific needs and technical background. Bonsai is known for easy-to-use interface ideal for freelancers and small businesses.
Does Bonsai or Wave offer better customer support?
Both Bonsai and Wave provide customer support, with options varying by plan tier. Bonsai offers support through standard support channels. Check each tool's specific plan for support details.
What are the pros of Bonsai compared to Wave?
Bonsai's main advantages include: Streamlines invoicing by automating generation from projects, reducing billing time up to 75%, Easy-to-use interface ideal for freelancers and small businesses, Professional branded invoices build client trust. Compared to Wave, it's particularly strong for freelancers and consultants needing quick proposals, contracts, and invoicing.
What are the cons of Bonsai compared to Wave?
Bonsai's potential drawbacks include: Lacks client-facing project visibility with no task progress login for clients, Requires project creation before some invoicing processes. Wave may be a better choice if these limitations affect your use case.
Should I switch from Bonsai to Wave or vice versa?
Consider switching if your current tool doesn't meet your needs. Key factors include: current pain points, migration complexity, team training, and total cost of ownership. Use our ROI calculator to estimate the potential impact of switching.
Which tool is best for invoicing in 2026?
In 2026, Bonsai leads in this comparison with a 4.3 rating. However, the best choice depends on your specific requirements. Bonsai excels for freelancers and consultants needing quick proposals, contracts, and invoicing, while Wave is ideal for small business owners starting out with limited budgets.