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Wave vs Xero: Pricing Comparison 2026

Side-by-side pricing comparison of Wave and Xero. See all plans, features, and costs at a glance.

Bottom line: Xero starts at $15/mo, making it $1/mo cheaper than Wave ($16/mo). Wave offers a free plan.

Last updated: April 17, 2026

Data compiled by Arthur Jacquemin
Updated April 17, 2026
Try Wave freeAffiliateTry Xero freeAffiliatePrice updated todayPrice updated today

Wave vs Xero: Quick Pricing Facts

FeatureWaveXero
Starting Price$16/mo$15/mo
Number of Plans23
Free TierYesNo
Pricing Modelfreemiumper-seat
Annual DiscountUp to 11%N/A

Xero is the more affordable option, starting at $15/mo compared to Wave's $16/mo. Both are Accounting tools with 5 combined pricing plans and 20 features compared. At comparable tiers, the monthly price difference is $26.

Wave stands out with a free plan for getting started. Wave uses freemium pricing while Xero uses per-seat pricing, which may affect your total cost at scale.

Review the detailed tier-by-tier comparison above to see exactly which features are included at each price point and find the best fit for your Accounting needs.

Pricing Plans
Wave
Wave
Try it freeAffiliate
Xero
Xero
Try it freeAffiliate
Tier 1
Starter
$0/monthCheapest
Includes
  • Unlimited invoicing
  • Unlimited estimates
  • Basic accounting
  • Income & expense tracking
Start with Starter
Starter
$15/month
$180 / year
Includes
  • Unlimited users
  • 20 invoices/month
  • 5 bills/month
  • Bank reconciliation
Start with Starter
Tier 2
ProPopular
$16/monthCheapest
$170 / year(save $22)
Includes
  • Auto-import bank transactions
  • Auto-categorization
  • Receipt scanning
  • Unlimited users
Start with Pro
StandardPopular
$42/month
$504 / year
Includes
  • Unlimited users
  • Unlimited invoices & bills
  • Bulk reconcile
  • Short-term cash flow
Start with Standard
Tier 3
—
Premium
$78/monthCheapest
$936 / year
Includes
  • Unlimited users
  • Multi-currency
  • Project tracking
  • Expense claims
Start with Premium

← Swipe to compare plans →

Wave

Free accounting and invoicing software for small businesses, with paid add-ons for payroll and payments

View all Wave plans

Xero

Cloud-based accounting platform with unlimited users on every plan, designed for small businesses and accountants

View all Xero plans

Which Should You Choose?

Choose Wave if:

  • •You need a free plan with Unlimited invoicing, Unlimited estimates—Wave offers no-cost access with no credit card required
  • •Annual billing savings matter to your budget—Wave offers up to 11% off with annual commitment
  • •You prioritize Wave's user experience and interface over price (both tools are similarly priced)

Choose Xero if:

  • •You want lower per-user costs—Xero starts at $15/mo, saving $1/mo compared to Wave at $16/mo
  • •You need 3 pricing tiers for flexible team sizing—more options mean less overpaying for features you don't need
  • •You want more features built-in—Xero offers 4 additional features across its plans

Wave offers a free plan [1], eliminating the cost barrier for evaluation, while Xero requires paid subscription from the start. This gives Wave a significant advantage for teams with budget constraints or extended trial periods. Once you outgrow Wave's free tier, upgrading to a paid plan at approximately $16/mo provides substantial additional functionality. Compare this pricing path against Xero's tiering starting at $15/mo to assess total cost of ownership over 12 months. Wave's 2 tiers provide flexibility at different budgets, while Xero's 3 tiers structure may force you into higher-cost plans than necessary for your use case. If evaluation cost matters to your decision, Wave is the obvious starting point with zero financial commitment. Use the free tier to validate core functionality before committing to paid plans from either tool.

Best choice: Wave

Try Wave free

Best choice: Xero

Try Xero free
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Frequently Asked Questions: Wave vs Xero

Which is cheaper, Wave or Xero?
As of April 2026, Xero starts at a lower price point. Wave starts at $16/mo while Xero starts at $15/mo. However, the best value depends on the features you need at each tier.
How many pricing plans does Wave have vs Xero?
Wave offers 2 pricing plans, while Xero offers 3 plans. More plans typically means more flexibility to match your exact needs and budget.
Does Wave or Xero offer a free plan?
Wave offers a free plan, while Xero does not. If budget is a concern, Wave lets you get started at no cost.
Can I save money by paying annually for Wave or Xero?
Wave offers up to 11% off on the Pro plan with annual billing. Xero does not currently advertise annual discounts.
What is the most popular Wave plan?
The Pro plan is Wave's most popular tier, priced at $16/mo. Key features include Auto-import bank transactions, Auto-categorization, Receipt scanning.
What is the most popular Xero plan?
The Standard plan is Xero's most popular tier, priced at $42/mo. Key features include Unlimited users, Unlimited invoices & bills, Bulk reconcile.
What pricing models do Wave and Xero use?
Wave uses a freemium pricing model, while Xero uses per-seat pricing. The right model depends on your team size and usage patterns.

Sources

  1. Wave Official Pricing— Vendor pricing page
  2. Xero Official Pricing— Vendor pricing page

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