QuickBooks Online wins on more features overall (7 vs 6, 6 tied). Below is the full feature-by-feature breakdown.
| Feature | QuickBooks Online | Wave |
|---|---|---|
| Free plan |
✗ No
30-day trial only
|
✓ Yes
|
| Entry paid plan |
— Paid add-on
AU$33/mo Simple Start, AU$49/mo Essentials
|
✓ Yes
Pro Plan US$16/mo (about AU$25)
|
| Download PDF without signup |
✗ No
|
✗ No
Requires signup to generate invoices
|
| Feature | QuickBooks Online | Wave |
|---|---|---|
| Unlimited invoices |
— Limited
Simple Start caps at 20 invoices/month
|
✓ Yes
|
| Custom logo & branding |
✓ Yes
|
✓ Yes
|
| Recurring invoices |
— Paid add-on
Essentials plan and above
|
✓ Yes
|
| Email invoices to clients |
✓ Yes
|
✓ Yes
|
| Multi-currency |
— Paid add-on
Plus plan only
|
✓ Yes
|
| Client management |
✓ Yes
|
✓ Yes
|
| Feature | QuickBooks Online | 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 |
— Limited
US-headquartered, AU support via partner network
|
✗ No
No AU-based support
|
| Feature | QuickBooks Online | Wave |
|---|---|---|
| Bank reconciliation |
✓ Yes
|
— Limited
AU bank feeds are limited
|
| Expense tracking |
✓ Yes
|
✓ Yes
|
| Payroll |
— Paid add-on
+AU$5/mo per employee
|
✗ No
US/Canada only
|
| Inventory tracking |
— Paid add-on
Plus plan only
|
✗ No
|
| Feature | QuickBooks Online | Wave |
|---|---|---|
| Stripe payments |
✓ Yes
|
— Limited
Wave Payments only — no direct Stripe integration
|
| Mobile app |
✓ Yes
|
✓ Yes
|
| Feature | QuickBooks Online | Wave |
|---|---|---|
| Setup time |
✗ No
30+ minute guided setup
|
— 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 →QuickBooks Online starts at AU$33/mo (Simple Start); Wave starts at Free (Pro Plan US$16/mo). QuickBooks Online offers 30-day free trial. Wave offers free forever.
For ATO-compliant GST: QuickBooks Online = yes, Wave = limited. For native ABN field: QuickBooks Online = 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, QuickBooks Online 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 QuickBooks Online 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.