Wave is a free accounting and invoicing platform built for small businesses — it offers real double-entry accounting, bank connections, invoicing, and (as a paid add-on) payroll and payment processing. It's genuinely free for the core accounting and invoicing tools, funded by optional paid add-ons like payment processing and payroll, and it requires a free account with your business and banking details connected.
Ledgerline is a much smaller tool — it doesn't do double-entry bookkeeping or bank syncing at all. What it offers instead is a no-account, browser-only way to generate invoices, quotes, receipts, and contracts, plus expense, mileage, and time tracking, without ever connecting a bank account or creating a login. If you want real accounting — reconciled books, a general ledger, bank feeds — Wave is the better and still-free choice. If you just want to send a clean invoice in two minutes without an account and without your bank details touching a third party, that's where Ledgerline fits.
| Feature | Ledgerline | Wave |
|---|---|---|
| Cost | Free (paid Pro tier optional) | Free (paid add-ons for payments/payroll) |
| Account required | No — runs in your browser | Yes, free account |
| Bank account connection | Not supported | Yes, required for accounting features |
| Double-entry accounting | No | Yes |
| Invoices & quotes | Yes | Yes |
| Contracts | Yes, basic generator | No |
| Rate & tax calculators | Yes, several | No |
| Mileage tracking | Yes | No |
| Data storage | Local to your browser | Cloud account |
| Payroll | No | Paid add-on |
Ledgerline fits freelancers who want fast, clean paperwork without setting up an account or linking a bank — invoices, a contract, an expense log, done. If you need real bookkeeping, reconciled transactions, or bank feeds, Wave is a genuinely strong free tool and the better choice for that job.