MYOB wins on more features overall (7 vs 6, 6 tied). Below is the full feature-by-feature breakdown.
| Feature | MYOB | Wave |
|---|---|---|
| Free plan |
✗ No
30-day trial only
|
✓ Yes
|
| Entry paid plan |
— Paid add-on
AU$29/mo Lite, AU$60/mo Pro
|
✓ Yes
Pro Plan US$16/mo (about AU$25)
|
| Download PDF without signup |
✗ No
|
✗ No
Requires signup to generate invoices
|
| Feature | MYOB | Wave |
|---|---|---|
| Unlimited invoices |
— Limited
Lite plan caps at 20 invoices/quotes per month
|
✓ Yes
|
| Custom logo & branding |
✓ Yes
|
✓ Yes
|
| Recurring invoices |
— Paid add-on
Pro plan only
|
✓ Yes
|
| Email invoices to clients |
✓ Yes
|
✓ Yes
|
| Multi-currency |
— Paid add-on
AccountRight Premier only
|
✓ Yes
|
| Client management |
✓ Yes
|
✓ Yes
|
| Feature | MYOB | Wave |
|---|---|---|
| ATO-compliant GST invoices |
✓ Yes
|
— Limited
No automatic ATO Tax Invoice wording
|
| ABN field built in |
✓ Yes
|
✗ No
Manual workaround needed
|
| Australian-focused support |
✓ Yes
Australia-based phone support
|
✗ No
No AU-based support
|
| Feature | MYOB | Wave |
|---|---|---|
| Bank reconciliation |
✓ Yes
|
— Limited
AU bank feeds are limited
|
| Expense tracking |
✓ Yes
|
✓ Yes
|
| Payroll |
✓ Yes
STP Phase 2 compliant
|
✗ No
US/Canada only
|
| Inventory tracking |
✓ Yes
|
✗ No
|
| Feature | MYOB | Wave |
|---|---|---|
| Stripe payments |
✓ Yes
|
— Limited
Wave Payments only — no direct Stripe integration
|
| Mobile app |
✓ Yes
|
✓ Yes
|
| Feature | MYOB | Wave |
|---|---|---|
| Setup time |
✗ No
Hours-to-days — guided setup wizard
|
— Limited
~10 min signup + business setup
|
Neither tool fits your invoicing-only workflow? Try InvoiceSonic — free for unlimited ATO-compliant tax invoices, no signup required.
Create a free invoice now →MYOB starts at AU$29/mo (Lite); Wave starts at Free (Pro Plan US$16/mo). MYOB offers 30-day free trial. Wave offers free forever.
For ATO-compliant GST: MYOB = yes, Wave = limited. For native ABN field: MYOB = yes, Wave = no. If you operate in Australia and either tool falls short here, InvoiceSonic handles both natively — and it's free.
Most freelancers want fast invoicing without paying for full accounting. Between these two, MYOB wins more categories overall. But if you're a freelancer who just wants ATO-compliant tax invoices for free, InvoiceSonic is purpose-built for that workflow.
Both MYOB and Wave let you export client lists and invoice history (usually as CSV). Migration takes an afternoon for most small businesses. If you're considering switching anyway, it might be worth evaluating InvoiceSonic as a free alternative for invoicing while keeping your accountant's tool of choice for bookkeeping.
Both tools are accounting-first platforms; their invoicing modules are a subset of what they do. If invoicing is your only need, a free dedicated invoice generator like InvoiceSonic is usually faster, cheaper, and more focused — without paying for bookkeeping, payroll, or inventory features you won't use.
Yes — InvoiceSonic is free for unlimited Australian-compliant invoices with no signup required for PDF download. You can run it alongside or instead of paid accounting platforms.