Wave at a Glance
What it is: Wave offers free accounting with unlimited invoicing and expense tracking, plus a $16/month Pro plan for automatic bank imports and OCR receipts.
Price: Starting at $0/month (as of February 2026)
Best for: New Agents, Budget Conscious, Solo Agents
Top alternative: FreshBooks
Our rating:
Wave Review for Real Estate Agents (2026)
Visit Wave →Quick Stats
| Starting Price | $0/month | $0/(annual) |
|---|---|
| Free Plan | Yes |
| Free Trial | No |
| Best For | New or budget-conscious agents who need real accounting software without monthly subscription costs, with the option to upgrade to Pro for bank auto-import |
| Key Features | Free Accounting (Starter), Unlimited Invoicing, Auto-Import Bank Transactions (Pro), Financial Reports |
| Integrations | PayPal, Shoeboxed |
| Mobile Apps | Web, iOS, Android |
| Founded | 2010 (Toronto, Canada) |
| Pricing Verified | February 13, 2026 |
Overview
Wave is an accounting platform with a genuinely free Starter tier that provides unlimited invoicing, expense tracking, and financial reporting without a subscription fee. For budget-conscious agents or those just starting out, it removes the barrier of monthly software costs while providing legitimate bookkeeping functionality.
However, Wave's pricing model has changed significantly. The free Starter plan no longer includes automatic bank transaction imports -- that feature is now locked behind the $16/month Pro plan, which also adds auto-categorization, OCR receipt scanning, late payment reminders, and priority support. This is a notable shift from Wave's previous "everything free" approach.
Wave is now a subsidiary of H&R Block (acquired for $405M in 2019), which adds financial stability but hasn't yet resulted in deep tax filing integration. The business model combines the freemium accounting tier with payment processing (2.9% + $0.60 per transaction) and payroll services ($35/month + $6/employee). For agents who only need manual expense entry and invoicing, the free tier remains valuable. For those who want bank auto-import, the Pro plan at $16/month is still cheaper than most alternatives.
Key Features
Free Accounting (Starter)
Full double-entry accounting with invoicing, expense tracking, and reports at no cost.
Unlimited Invoicing
Create and send unlimited professional invoices for free on all plans.
Auto-Import Bank Transactions (Pro)
Automatically import and categorize bank transactions via Plaid (Pro plan only).
Financial Reports
Profit/loss, balance sheet, and cash flow reports included free.
OCR Receipt Scanning (Pro)
Digitally capture and extract data from receipts using OCR technology.
Automated Late Payment Reminders (Pro)
Schedule automatic reminders at 3, 7, and 14 days after invoice due date.
Multi-Currency Support
Handle transactions in multiple currencies.
Multiple Users (Pro)
Add accountants or bookkeepers as additional users on Pro plan.
Wave Payments Integration
Accept online payments with automatic reconciliation to invoices.
Recurring Invoices
Automate regular billing for retainer clients.
Pricing Details
Wave uses tiered pricing. Here are the tiers (prices as of February 13, 2026):
- Unlimited invoicing, estimates, and bills
- Manual expense entry and tracking
- Mobile app access
- Unlimited receipt scanning
- Basic accounting and financial reports
- Auto-import bank transactions
- Auto-merge and auto-categorize transactions
- Unlimited receipt OCR technology
- Automated late payment reminders (3, 7, 14 days)
- Multiple user accounts
- Priority customer support
- First 10 payment transactions fee-free per month
- Credit cards: 2.9% + $0.60 per transaction
- Bank payments: 1% ($1 minimum)
- Payments link directly to invoices
- Automatic payment reconciliation
- No monthly fees
- Full payroll service with tax filing
- Direct deposit
- $6 per employee per month additional
- Employee self-service portal
Integrations
Direct Integrations
- PayPal
- Shoeboxed
Automation Platforms
Wave connects via Zapier and Make for hundreds of additional integrations.
Pros and Cons
Pros
- Free Starter tier includes unlimited invoicing and expense tracking
- Full double-entry accounting (not simplified cash basis only)
- Pro plan at $16/month is still cheaper than most paid alternatives
- Backed by H&R Block ($405M acquisition) for long-term stability
- Good enough for many agents' basic bookkeeping needs
Cons
- Bank auto-import now requires $16/month Pro plan (was free)
- No mileage tracking feature on any plan
- Limited integrations compared to FreshBooks or Xero
- Support quality varies; priority support only on Pro
Our Verdict
Wave remains the best free accounting option for agents who need basic invoicing and expense tracking without monthly fees. The catch is that bank auto-import now costs $16/month on the Pro plan. For agents willing to do manual entry, Wave Starter is unbeatable at $0. For those wanting automation, the Pro plan is still cheaper than FreshBooks or QuickBooks.
Featured In
Wave is mentioned in the following guides, kits, and comparisons:
Frequently Asked Questions
Is Wave really still free in 2026?
The Starter plan is free and includes unlimited invoicing, manual expense tracking, receipt scanning, and financial reports. However, automatic bank transaction import now requires the $16/month Pro plan. This is a change from previous years when bank import was free.
What changed with Wave's pricing?
Wave added a $16/month Pro plan that locks auto-import bank transactions, auto-categorization, OCR receipts, late payment reminders, and multi-user access behind a paywall. Payroll also increased from $20/month to $35/month base. The free Starter plan still exists but with manual entry only.
Is Wave good for real estate agents?
Yes, for basic bookkeeping. Wave handles invoicing, expense tracking, and financial reports well. The main gaps are no mileage tracking and no real estate-specific features like commission split tracking. For commission-focused accounting, consider RealtyZam.
Who owns Wave now?
H&R Block acquired Wave for $405 million USD in 2019. Wave operates as a subsidiary and is still based in Toronto, Canada. The H&R Block backing provides financial stability but hasn't yet resulted in deep tax filing integration.
How does Wave make money if it's free?
Wave Payments charges 2.9% + $0.60 per credit card transaction and 1% for bank payments. Wave Payroll costs $35/month plus $6 per employee. The new Pro plan at $16/month is another revenue stream. These services are all optional add-ons.
Should I get Wave Starter or Pro?
If you have a low transaction volume and don't mind manual entry, Starter (free) works fine. If you want automatic bank feeds and auto-categorization to save time, Pro at $16/month ($14.17 annually) is worth it and still cheaper than FreshBooks ($19+) or QuickBooks Solopreneur ($20).
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