The Verdict
Wave is free, making it attractive for bootstrappers and businesses needing full accounting features. But "free" comes with trade-offs: payment processing fees are higher than industry average, the interface is cluttered with accounting features you might not need, and you'll see upsells for payroll and other services.
BillMe is paid ($12/month), but it's laser-focused on making invoicing fast and simple. No accounting bloat, no ads, lower payment processing fees, and you can create and send an invoice in under 2 minutes. If you just need invoicing (not full bookkeeping), BillMe is the better choice.
Bottom line: Wave if you need free accounting + invoicing and don't mind the complexity. BillMe if you want simple, focused invoicing without distractions.
Head-to-Head Feature Comparison
| Feature | BillMe | Wave |
|---|---|---|
| Pricing | $12/month | Free (with higher payment fees) |
| Invoice creation speed | ✓ Under 2 minutes | 3-5 minutes (accounting UI) |
| Recurring invoices | ✓ Automated | ✓ Automated |
| Payment reminders | ✓ Automatic | ✓ Manual reminders |
| Payment processing fees | 2.9% + 30¢ (Stripe standard) | 2.9% + 60¢ (higher per-transaction) |
| ACH/bank transfer fees | 0.8% (capped at $5) | 1% (capped at $10) |
| Custom branding | ✓ Logo, colors, fonts | ✓ Logo only |
| Client portal | ✓ View, approve, pay | Basic payment page |
| Estimates/quotes | ✓ Convert to invoice | ✓ Convert to invoice |
| Full accounting (P&L, balance sheet) | ✗ Invoicing only | ✓ Complete accounting |
| Receipt scanning | ✗ | ✓ Mobile app |
| Ads in software | ✗ Ad-free | Upsells for payroll, coaching |
| Support | Email + live chat | Email only (slower response) |
| Mobile app | ✓ iOS & Android | ✓ iOS & Android |
Pricing Breakdown
Wave
- Unlimited invoices
- Receipt scanning
- Full accounting features
- 2.9% + 60¢ credit card fee
- 1% ACH fee (max $10)
- Ads/upsells in UI
- Email support only
BillMe
- Unlimited invoices
- Recurring billing
- Auto payment reminders
- 2.9% + 30¢ credit card fee
- 0.8% ACH fee (max $5)
- Ad-free experience
- Priority support
- Custom branding
Real cost comparison: If you process $5,000/month via ACH, Wave charges $50/month in fees while BillMe charges $12 subscription + $40 in fees = $52 total. Almost identical cost, but BillMe is faster and cleaner.
BillMe Pros & Cons
Pros
- Dead-simple interface—create invoices in under 2 minutes
- Focused on invoicing only, no accounting bloat
- Lower payment processing fees (especially ACH)
- Ad-free, no upsells
- Better customer support (live chat)
- Full custom branding (colors, fonts, logos)
- Client portal for approvals and payments
Cons
- Costs $12/month (not free)
- No full accounting features (P&L, balance sheet)
- No receipt scanning
- No payroll integration
- Fewer integrations than Wave
Wave Pros & Cons
Pros
- Completely free software (no subscription cost)
- Full accounting features (P&L, balance sheet, expense tracking)
- Receipt scanning via mobile app
- Bank connection for automatic transaction import
- Payroll add-on available
- Good for businesses needing full bookkeeping
Cons
- Higher payment processing fees (60¢ vs 30¢ per transaction)
- Slower invoice creation (cluttered with accounting features)
- Ads and upsells throughout the interface
- Email-only support with slow response times
- Basic branding (logo only, no color/font customization)
- No client portal for approvals
- Manual payment reminders only
Which Should You Choose?
Decision Helper
Choose BillMe if:
- You only need invoicing (not full accounting)
- You value speed and simplicity over free software
- You process payments and want lower ACH fees
- You want an ad-free, focused tool
- You need automatic payment reminders
- You want a client portal for approvals
- You're willing to pay $12/month to save hours of time
Choose Wave if:
- You need full accounting features (P&L, expenses, etc.)
- Budget is tight and free software is essential
- You're comfortable with slower invoice creation
- You want receipt scanning via mobile app
- You need payroll features (Wave Payroll add-on)
- You don't mind ads and upsells in the UI
- You already use Wave for accounting
The Real Question: Do You Need Accounting?
Wave is free accounting software that includes invoicing. BillMe is focused invoicing software(no accounting). If you're a freelancer or very small business that doesn't need P&L reports, expense categorization, or balance sheets, BillMe will save you time every single day.
If you do need full accounting, Wave is a solid free option—but be prepared for higher payment fees and a slower, more cluttered interface. Many users start with Wave for "free" but switch to BillMe once they realize they're paying more in processing fees and wasting time navigating accounting features they never use.
Migration from Wave to BillMe
Switching is simple: export your client list from Wave (CSV), import into BillMe, and start creating invoices. Your old Wave invoices stay accessible in Wave for records, and you can forward-link clients to your new BillMe payment portal. Most users complete the switch in under 30 minutes.
Final Recommendation
For most freelancers and small businesses that just need invoicing: BillMe is the better choice. It's faster, cleaner, has better support, and the $12/month cost is offset by lower payment fees and time savings.
For businesses that need full accounting + invoicing: Wave is a great free option, especially if you're bootstrapping. Just be aware of the higher payment fees and slower workflow.