Wave vs. QuickBooks: What Accounting Tool is Best for Your Business in 2025?

We know that business keeps you on the move, and keeping your finances sorted can be a chore. When you are comparing Wave accounting vs QuickBooks, you are dealing with two pieces of software that simplify your finances but do it in different ways. Wave is free and simple, while QuickBooks is more expensive but has more capabilities. Both can account for you but which one is appropriate for you? 

This blog simplifies Wave accounting vs QuickBooks accounting so that you can make the smart choice for your hotel, restaurant, or small business in 2025. Let's get into it.

What Are Wave and QuickBooks?

Wave accounting vs QuickBooks, what's the story? Wave is an all-free, cloud-based program aimed at small business owners, freelancers, or start-ups that want to keep it affordable and easy. QuickBooks is a paid program with enhanced functionalities, suited to businesses that need extra muscle, like tracking inventory or enhanced reports.

Wave's like a plain, solid car, it takes you where you're headed without extras. QuickBooks is more like a tricked-out SUV, with bells and whistles but a little extra expense. Both track your money around, pay bills, and keep track of your accounts and savings, but they're geared to different kinds of businesses.

Following Your Money Around

Both Wave and QuickBooks are excellent at following your money around. You can track revenue, like hotel room bookings or restaurant meals, and spending, like food and supplies or utilities. Wave's dashboard is extremely clear and easy to scan, with a straightforward view of what's going in and out. QuickBooks splits things down further, which is helpful if you have to break down every single penny.

Wave pulls in bank transactions automatically and is great for small shops or freelancers. QuickBooks does this too but adds extras like tracking project costs or inventory, which helps if you’re a bigger business, like a hotel with multiple revenue streams.

How They Compare

This chart illustrates the key differences. Take a look at it to determine what will fit your budget and requirements.

Handling Finances the Easy Way

Fees like sales-related aspects on hotel bookings or payroll for employees can be annoying, but the two programs help. Wave keeps tabs on sales automatically and is best suited for small companies, making filing simple. QuickBooks does more, where it can help file and monitor payroll for workers or tipped employees.

QuickBooks will be able to handle tips and complex laws better, and Wave's easy tracking will be enough for smaller businesses. Both are compliant, but QuickBooks is stronger for businesses with more complex needs.

Saving Time with Automation

Wave Accounting and QuickBooks save you time by automating repetitive things. They can send bills, follow up on payments, and import bank transactions so you don't have to manually type them out. Wave's free version does it for basic needs, like sending bills for a small bed-and-breakfast. 

QuickBooks does more, like creating rules to automatically categorize transactions or logging employee hours. If you’re a freelancer or small business, Wave’s automation is enough to keep things smooth. For bigger businesses, like a hotel with a restaurant, QuickBooks’ extra automation, like managing payroll, makes life easier.

Access Your Books Anywhere

Both allow you to see your money on your phone or laptop, which is a nice touch when you're running around a restaurant or hotel. Wave's app is simple, where you can send invoices or photograph receipts from the road.

QuickBooks' app is more advanced, with features like tracking employee time or processing card payments in person, which is helpful for businesses that have employees or face-to-face sales. For a single owner, Wave's app is adequate. If you've got a bigger staff, as at a hotel, QuickBooks' app gives more remote control.

Who They're Best For

Wave is best for freelancers, small businesses, or startups with limited budgets. Wave's free version offers basics like invoicing and sales tracking, making it a convenient choice for a small hotel or restaurant. QuickBooks suits growing businesses that need more advanced features like inventory management or detailed accountant and his reports.

Wave's limitless users are perfect for small teams. You can add your accountant or workers at no cost. QuickBooks has limited users (1-25, depending on your plan), which is a pain for bigger teams but no problem for most small businesses.

What to Consider

This chart helps you choose what is right for your business.

Growing with Your Business

If your company is expanding, QuickBooks does a better job of keeping pace. Its plans include rich features like inventory for foodstuffs or renovation project tracking, without the need for add-ons. Wave's free plan is wonderful for start-ups, but its paid Pro plan ($16/month) still falls short of some of the power in QuickBooks, such as rich inventory for accounting for restaurants.

Wave is applicable for growing businesses with payroll add-ons, but you'll need to turn to third-party apps for advanced needs. QuickBooks has more built-in tools, making it simpler to grow without needing to shift systems.

Working with Your Accountant

Both Wave and QuickBooks make it easy to share books with an accountant. Wave's unlimited number of users makes it easy for your accountant to jump in gratis, a great plus for new companies. QuickBooks is a favorite among accountants, so it's easier to find someone who is experienced with it. You can share access with your team or accountant, but pricier plans pay more for more users.

If you're handling books yourself, Wave's simplicity in setup works best for newbies. QuickBooks is more powerful and although it can be daunting at first, it's great when you get to know it.

Keeping Your Money Safe

Your personal financial information is private, and both tools protect it. Wave uses bank-grade security to protect information like sales-related documents or payroll data. QuickBooks also offers extra protection, like assigning specific user rights, which is great for bigger businesses with many employees. In 2025, when cyberattacks are all around you, both give your mind some peace of mind.

No matter if you're a small business or an inn, you can trust Wave and QuickBooks with your details. All you have to do is make sure you have secure passwords and ensure access to your books.

Related Resource

• How QuickBooks Online Accounting Software Helps You Stay Tax-Ready Year-Round
• Guide to Select From Top 10 CPA Firms in the US for Your Business in 2025
• How Chicago CPA Firms Continue to Succeed in Business

Wave accounting vs QuickBooks boils down to the size of your company and what you need. Wave's simple, free edition is ideal for freelancers or tiny companies, cost-saving while working on such necessities as bookkeeping services or handling payroll stuff. 

QuickBooks is pricier but offers strong tools for expanding companies, such as companies that require accounting or payroll-related handling. Both will make your company succeed in 2025, The Fino Partners believes. Do a free trial of Wave or 30 days of QuickBooks, get a feel for what works for you, and pick the tool that is most suited to your objectives.