Wave Accounting vs Xero
Side-by-side comparison of features, pricing, and integrations.
Quick Verdict
Wave Accounting offers more features (47 vs 35) and more integrations (30 vs 6). Starting price: Wave Accounting at Free vs Xero at $3.75/mo. Wave Accounting has 39 unique features while Xero has 27 unique features, with 8 features in common.
| Wave Accounting | Xero | |
|---|---|---|
| Category | Accounting Software | Accounting Software |
| Total Features | 47 | 35 |
| AI-Powered Features | 6 | 4 |
| Starting Price | Free | $3.75/mo |
| Pricing Tiers | 3 | 3 |
| Integrations | 30 | 6 |
| Shared Features | 8 | |
| Shared Integrations | 2 | |
| Data Quality | 73% | 80% |
Feature Comparison by Category
AI (0 vs 4)
| Feature | Wave Accounting | Xero |
|---|---|---|
| AI Financial Data Exploration | ||
| AI Task Automation | ||
| AI-Powered Business Questions | ||
| JAX AI Financial Superagent |
Account Management (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Multi-Account Support |
Accounting (0 vs 3)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Bill Management | ||
| Multi-Currency Support | ||
| Paperless Record Keeping |
Analytics (2 vs 2)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Competitor Analysis | ||
| Financial Insights | ||
| KPI and Ratio Analysis | ||
| Trend Analysis |
Automation (0 vs 4)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Automated Invoicing | ||
| Bank Transaction Reconciliation | ||
| Data Capture with Hubdoc | ||
| Invoice Reminders |
Bank Management (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Reconciliation Tools |
Banking Integration (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Bank Connections |
Collaboration (2 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Client Collaboration | ||
| Invoicing for Teams | ||
| Real-time Collaboration |
Collections (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Invoice Reminders |
Customer Management (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Customer Portal |
Data Management (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Data Backup |
Data Quality (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Duplicate Detection |
Expense Management (8 vs 2)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Automated Bank Categorization | ||
| Employee Expense Submission | ||
| Expense Categories | ||
| Expense Policies | ||
| Expense Reimbursement | ||
| Expense Tracking | ||
| Mileage Tracking | ||
| Receipt Scanning | ||
| Vendor Management |
Financial Planning (2 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Budget Planning | ||
| Cash Flow Forecasting |
HR (0 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Leave Management |
Income Management (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Income Tracking |
Integration (1 vs 3)
| Feature | Wave Accounting | Xero |
|---|---|---|
| API Access | ||
| App Store Integration | ||
| Bank Feed Integration | ||
| Data Import from Other Software |
International (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Multi-Currency Support |
Inventory (1 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Inventory Management |
Invoicing (9 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Batch Invoice Processing | ||
| Billable Hours Invoicing | ||
| Estimate Builder | ||
| Invoice Creation | ||
| Invoice Customization | ||
| Invoice Scheduling | ||
| Invoice Templates | ||
| Invoicing Automations | ||
| Recurring Invoices |
Mobile (1 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Mobile App |
Payments (1 vs 2)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Online Bill Payments | ||
| Online Invoice Payments | ||
| Payment Processing |
Payroll (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Payroll Processing |
Project Management (1 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Project Tracking |
Reporting (2 vs 5)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Cash Flow Forecasting | ||
| Custom Reports | ||
| Customizable Reporting | ||
| Financial Health Scorecards | ||
| Financial Reports | ||
| Performance Dashboards | ||
| Real-time Reporting |
Sales (0 vs 1)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Quotes and Estimates |
Security (3 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Audit Trail | ||
| Two-Factor Authentication | ||
| User Permissions |
Support (0 vs 2)
| Feature | Wave Accounting | Xero |
|---|---|---|
| 24/7 Online Support | ||
| 90-Day Onboarding Support |
Tax (0 vs 2)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Sales Tax Management | ||
| W-9 and 1099 Management |
Tax Management (3 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Sales Tax Management | ||
| Tax Estimates | ||
| Tax Form Exports |
Time Tracking (1 vs 0)
| Feature | Wave Accounting | Xero |
|---|---|---|
| Time Tracking |
Unique Features
Only in Wave Accounting (39)
Multi-Account Support
Competitor Analysis
Financial Insights
Reconciliation Tools
Bank Connections
Client Collaboration
Invoicing for Teams
Customer Portal
Data Backup
Duplicate Detection
Automated Bank Categorization
Expense Categories
Expense Policies
Expense Reimbursement
Mileage Tracking
Receipt Scanning
Vendor Management
Budget Planning
Income Tracking
API Access
+ 19 more unique features
Only in Xero (27)
Bill Management
Paperless Record Keeping
AI Financial Data Exploration
AI Task Automation
AI-Powered Business Questions
JAX AI Financial Superagent
KPI and Ratio Analysis
Trend Analysis
Automated Invoicing
Bank Transaction Reconciliation
Data Capture with Hubdoc
Real-time Collaboration
Employee Expense Submission
Leave Management
App Store Integration
Bank Feed Integration
Data Import from Other Software
Online Bill Payments
Online Invoice Payments
Customizable Reporting
+ 7 more unique features
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