Wave vs FreshBooks vs Invoice Ninja: Which Invoicing Software Wins for Freelancers?

Managing invoices shouldn’t eat up your creative time. You need software that gets you paid faster without draining your wallet. Wave, FreshBooks, and Invoice Ninja each claim to be the best choice for freelancers, but which one actually delivers?

This comparison breaks down the features, pricing, and real-world performance of these three platforms. You’ll discover which tool matches your freelance workflow, how much you’ll actually spend, and what features matter most when clients are waiting for invoices.

Quick Facts Comparison

Feature	Wave	FreshBooks	Invoice Ninja
Starting Price	Free	$19/month	Free
Best For	Budget-conscious freelancers	Growing service businesses	Tech-savvy solopreneurs
Free Plan	Yes (unlimited)	30-day trial only	Yes (up to 20 clients)
Client Limit	Unlimited	5-50 (plan dependent)	20 (free), unlimited (paid)
Payment Processing	2.9% + $0.60 per card	2.9% + $0.30 per card	Via third-party gateways
Time Tracking	No	Yes (all plans)	Yes (paid plans)
Mobile App	Yes	Yes	Yes
Customer Support	Email only (paid users)	Phone & email	Email & community

Detailed Features Breakdown

Feature	Wave	FreshBooks	Invoice Ninja
Unlimited Invoices	✓	✓	✓
Recurring Billing	✓	✓	✓
Expense Tracking	✓	✓	✓
Project Management	✗	✓	✓ (paid)
Automatic Reminders	✓	✓	✓
Custom Branding	✓	✓	✓ (paid)
Multiple Currencies	✓	✓	✓
Bank Reconciliation	✓ (Pro)	✓	✗
Payroll Integration	✓ ($40/month)	✓ ($40/month)	✗
Open Source	✗	✗	✓

Wave: The Budget Champion

Wave delivers completely free invoicing with zero monthly fees. The platform targets freelancers and small business owners who need solid invoicing without spending a dime.

You get unlimited invoices, unlimited clients, and basic accounting features at no cost. The interface stays clean and straightforward, making it easy to send professional invoices in minutes.

Key Strengths:

• Zero monthly subscription fees
• Unlimited invoices and clients on free plan
• Built-in accounting and expense tracking
• Automatic payment reminders
• Bank account integration (Pro plan)
• Receipt scanning via mobile app

Notable Limitations:

• No time tracking features
• Limited customer support for free users
• Basic reporting compared to competitors
• Transaction fees apply for payments (1% ACH, 2.9% + $0.60 cards)
• Fewer customization options

Pricing Structure:

Wave keeps things simple. The Starter plan costs nothing forever. The Pro plan runs $16 per month (billed monthly) or $170 annually, adding automatic bank imports, multiple user access, and reduced transaction fees on the first ten monthly transactions.

Payment processing adds 1% for ACH bank transfers and 2.9% + $0.60 for credit card payments. Payroll costs extra at $40 monthly plus $4-6 per employee depending on your state.

Best Use Cases:

Wave works brilliantly for solopreneurs, new freelancers, and microbusinesses that invoice regularly but can’t justify software expenses. If you need basic invoicing with accounting features and your client base stays under 50, Wave handles the job without costing you monthly fees.

FreshBooks: The Feature Powerhouse

FreshBooks packs serious functionality into a user-friendly platform. The software targets freelancers and small businesses ready to invest in professional-grade tools.

You get time tracking, project management, expense categorization, and advanced reporting alongside invoicing. The platform automates tedious tasks like late payment reminders and recurring invoices.

Key Strengths:

• Integrated time tracking across all plans
• Project profitability analysis
• Automated late fees
• Client portal for easy communication
• Receipt capture via mobile app
• Excellent customer support (phone and email)
• Advanced reporting and analytics
• Proposal and estimate creation

Notable Limitations:

• No free plan (30-day trial only)
• Client limits on lower tiers (5 on Lite, 50 on Plus)
• Additional cost per team member ($11/month)
• Pricier than competitors
• Some users report recent feature removals

Pricing Structure:

FreshBooks currently offers 70% off the first four months for new customers. Regular pricing starts at $21 monthly for the Lite plan (5 clients), $38 monthly for Plus (50 clients), $65 monthly for Premium (unlimited clients), and custom pricing for Select (enterprise features).

Annual billing saves you 10% on all plans. Each additional team member costs $11 monthly across all tiers. Payment processing runs 2.9% + $0.30 per transaction for credit cards.

Best Use Cases:

FreshBooks shines for established freelancers and growing service businesses that bill by the hour. If you manage multiple projects, need detailed reporting, or want comprehensive client management, the investment pays off through time savings and professional presentation.

Invoice Ninja: The Customization King

Invoice Ninja brings open-source flexibility to invoicing software. The platform attracts tech-savvy freelancers and developers who value customization and control.

You can self-host the software or use the cloud version. The free plan supports up to 20 clients with unlimited invoicing, while paid tiers unlock advanced features and remove client restrictions.

Key Strengths:

• Free plan with real functionality (20 clients)
• Open-source and self-hostable
• Highly customizable invoice templates
• 45+ payment gateway integrations
• Project and task management
• Vendor tracking and purchase orders
• Multi-language and multi-currency support
• Affordable paid plans ($10-14/month)

Notable Limitations:

• Customer support gets mixed reviews
• Steeper learning curve for beginners
• Some features require technical knowledge
• Only one user on free and Pro plans
• No built-in payment processing
• Interface feels less polished than competitors

Pricing Structure:

Invoice Ninja offers a forever-free plan for up to 20 clients with one user. The Ninja Pro plan costs $10 monthly or $100 annually (unlimited clients, one user). The Enterprise plan starts at $14 monthly or $140 annually for 1-2 users, with pricing increasing based on team size.

You’ll need to arrange payment processing through third-party gateways like Stripe, PayPal, or Square. These charge their own transaction fees (typically 2.9% + $0.30 for cards).

Best Use Cases:

Invoice Ninja fits freelancers with under 20 regular clients who want free software with depth. Developers and technical users love the self-hosting option and customization possibilities. If you need specific workflows or want to avoid vendor lock-in, Invoice Ninja delivers flexibility.

Wave vs FreshBooks: Direct Comparison

FreshBooks costs significantly more but adds time tracking, project management, and superior customer support. Wave gives you accounting features that FreshBooks charges extra for through add-ons.

The choice depends on your invoicing volume and feature needs. Wave works better for simple invoicing with basic accounting. FreshBooks excels when you bill hourly, manage multiple projects, or need responsive support.

Client limits matter too. Wave never restricts your client count, while FreshBooks caps you at 5 or 50 clients depending on your plan tier.

Wave vs Invoice Ninja: Free Plan Showdown

Both platforms offer legitimate free plans, but Wave allows unlimited clients while Invoice Ninja stops at 20. Wave includes accounting features out of the box. Invoice Ninja provides more customization and payment gateway options.

Wave wins for pure simplicity and client volume. Invoice Ninja takes the lead if you want deeper customization or need specific integrations with your existing tools.

FreshBooks vs Invoice Ninja: Premium Features Face-Off

FreshBooks delivers polish and comprehensive features. The platform includes everything in one ecosystem with minimal setup. Invoice Ninja costs less but requires more technical comfort and separate payment processor accounts.

FreshBooks offers better support and more intuitive interfaces. Invoice Ninja provides flexibility and lower long-term costs for technical users who can handle the setup complexity.

Which Software Should You Choose?

Choose Wave if you:

• Need completely free invoicing
• Invoice regularly but simply
• Want basic accounting included
• Manage unlimited clients
• Don’t need time tracking
• Prefer simple, straightforward software

Choose FreshBooks if you:

• Bill clients by the hour
• Manage multiple ongoing projects
• Need comprehensive reporting
• Want excellent customer support
• Can afford monthly software costs
• Value polish and ease of use

Choose Invoice Ninja if you:

• Work with fewer than 20 regular clients
• Have technical skills or want to learn
• Need specific customizations
• Prefer open-source solutions
• Want to self-host your data
• Like affordable paid upgrades

Getting Started Tips

Start with free trials or free plans before committing. Wave and Invoice Ninja let you test drive at no cost. FreshBooks offers 30 days to explore all features.

Import your existing client data carefully. All three platforms support CSV imports, but check field mapping before uploading hundreds of contacts.

Connect one payment gateway initially. You can add more options later as you understand your client payment preferences.

Set up invoice templates immediately. Configure your branding, payment terms, and standard line items during setup so you’re ready when the first client project arrives.

Frequently Asked Questions

Can I switch between these platforms easily?

Yes, all three platforms support data export and import. You can move your client lists, products, and services through CSV files. Historical invoices may require manual recreation depending on the platforms involved.

Do these tools work for international clients?

Absolutely. Wave, FreshBooks, and Invoice Ninja all support multiple currencies and international payment processing. Invoice Ninja even allows you to set different languages per client, showing French clients their portal in French and Spanish clients in Spanish.

Which platform offers the best mobile experience?

FreshBooks delivers the most robust mobile app with receipt scanning, mileage tracking, and full invoicing capabilities. Wave offers solid mobile invoicing with receipt capture. Invoice Ninja provides basic mobile access but focuses more on desktop functionality.

Can I accept credit card payments through all three?

Yes, but the setup differs. Wave and FreshBooks include integrated payment processing (with transaction fees). Invoice Ninja requires you to connect third-party gateways like Stripe or PayPal separately.

What happens if I exceed the client limit?

Wave has no client limit ever. FreshBooks requires you to upgrade your plan when you exceed your tier’s limit. Invoice Ninja’s free plan stops working properly after 20 clients, pushing you to upgrade to Pro for unlimited access.

Final Verdict

Your ideal invoicing software depends entirely on your specific freelance situation. Wave wins on price and simplicity. FreshBooks dominates on features and support. Invoice Ninja offers the best customization and flexibility.

Most freelancers should start with Wave’s free plan or Invoice Ninja’s free tier to test basic functionality. As your business grows and your needs expand, FreshBooks becomes worth the investment through time savings and professional capabilities.

The best approach? Try the free options first. When you’re billing enough clients monthly that software fees become negligible compared to your revenue, upgrade to FreshBooks for the full feature set. Your invoicing needs will evolve with your business, and these platforms grow alongside you.