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Invoice My Clients vs Wave
Short version: Wave is a free-first accounting and payments suite. Invoice My Clients is invoicing and collections first, with AI bundled into every plan. If you mainly send invoices and chase payment, you may not need Wave's full bookkeeping stack.
At a glance
| Invoice My Clients | Wave | |
|---|---|---|
| Product focus | Invoices, proposals, time tracking, collections, and an AI billing assistant (chat on every plan, voice on Professional and above). | Broader small-business money suite: accounting, invoicing, payments, and payroll in some regions. |
| Typical pricing | Free plan, then flat monthly plans (Starter $15, Professional $29, Business $59). AI message allowances are included on every plan; prepaid packs top you up after the allowance. See our Pricing page. | Starter is $0 for core invoicing and manual bookkeeping. Pro is $19 USD a month ($190 a year) and adds automatic bank imports, unlimited receipt capture, late payment reminders, and more. Payments and payroll are separate. Confirm on Wave's pricing page. |
| AI and automation | AI assistant on every plan, with a monthly message allowance: chat everywhere, voice on Professional and above. Claude or ChatGPT can connect through the MCP server on any plan; API keys for your own tools on Professional and above. | Traditional accounting workflows. Automation such as auto-import of bank transactions and automated late reminders sits on Pro. |
| Bank feeds and collaborators | Not a general ledger product. Connect Stripe for payments; expense logging and document scans depend on the plan. Self-serve plans are a single login; organization seats come with Enterprise. | As of June 1, 2026, automatic bank connections for transaction imports and inviting collaborators (Admins, Editors, Viewers) require Wave Pro. Starter still supports manual bank statement upload and solo use. Sources: the Wave Help Center articles "FAQ: Plans for legacy businesses" and "Invite or remove collaborators from your business", linked below. |
| Getting paid | Stripe payments on invoices (cards, ACH, Apple Pay, Google Pay), charged through our Stripe platform and transferred to your own Stripe account. Processing is pass-through Stripe rates with no markup on self-serve plans. Paid plans send the pay link with the invoice; Free sends the PDF link. | Wave Payments where available; fees differ by plan. Tied to Wave's ecosystem. |
| Often the best fit | Freelancers and service businesses that want fast invoicing, collections, and AI without running a full ledger in the same app. | Founders who want free core bookkeeping plus invoicing, or who will pay for Pro to get bank feeds and multi-user access inside Wave. |
Choose Invoice My Clients when you...
- Want invoicing, proposals, time-to-invoice, and collections in one product, with AI included in the plan price.
- Prefer Stripe-settled payments on your own account rather than a payments product locked to one accounting suite.
- Need advanced invoice mechanics (interest on overdue, bulk invoicing, physical mail for quiet clients) more than general ledger depth.
Wave may be the better starting point when you...
- Need free double-entry bookkeeping, estimates, bills, and reports in Wave's supported regions.
- Plan to stay inside Wave's payments, payroll, and reporting stack.
- Will use Wave Pro for automatic bank feeds, receipt capture, and collaborators.
Features and pricing change over time. Confirm details on each vendor's website before you buy. Invoice My Clients is not affiliated with Wave.
What changed on Wave in June 2026
Wave introduced Starter and Pro in early 2024. On June 1, 2026, Wave migrated many Legacy businesses (accounts created before Starter and Pro launched) onto the free Starter plan if they were not on Wave Payments, payroll, or another paid Wave service.
On Starter you can still create invoices, estimates, and bills, accept online payments (as an option), upload bank statements manually, categorize and reconcile, and use the mobile app.
To keep bank connections for automatic transaction imports or to share the business with collaborators, Wave directs you to upgrade to Pro ($19 USD a month).
Primary sources (read October 5, 2026)
Pricing clarity
Invoice My Clients
- Free: $0, 20 AI messages a month
- Starter: $15, 150 AI messages a month
- Professional: $29, 10,000 AI messages a month, plus included AI document scans
- Business: $59, 25,000 AI messages a month, with a higher scan allowance
- Enterprise: custom price, pooled or custom AI
AI is bundled into every plan as a monthly message allowance. It is not a separate purchase. After you use the monthly allowance, prepaid credit packs top you up and never expire. Annual billing saves about 20%. The full matrix is on our Pricing page.
View pricingWave (summary, verify live)
- Starter: $0, unlimited estimates, invoices, bills, and bookkeeping records; manual bank upload; optional Wave Payments
- Pro: $19 a month or $190 a year, auto-import of bank transactions, auto-merge and categorize, unlimited digital receipts, automated late payment reminders, collaborators
The Wave Advisors bookkeeping service starts higher and is separate. Always re-check Wave's site; promotions and regional CAD pricing differ.
FAQ
FAQ
Quick answers about how these products differ.
Is there a Wave alternative for invoicing?+
Yes. Invoice My Clients has a free plan for invoicing and collections, and a free invoice generator you can try without signing up. It does not replace Wave's full bookkeeping. If you mainly use Wave to send invoices and get paid, it is a lighter option focused on that job.
Is Wave still free after June 2026?+
Starter remains $0 for core invoicing and manual bookkeeping. Automatic bank feeds for transaction imports and collaborator access require Pro, per Wave's own help articles linked on this page. Confirm current details on Wave's site.
Does Invoice My Clients include AI, or is AI an add-on?+
AI is included on every plan as a monthly message allowance: chat on every plan, voice on Professional and above. Higher plans get larger allowances and a stronger model. Extra messages are sold as prepaid packs after the allowance, not as a separate subscription you need to unlock AI.
How does pricing compare?+
Compare our Pricing page with Wave's pricing page. Treat any third-party number as something to verify. Processing fees (Stripe or Wave Payments) are separate from the software subscription price.
Can I switch from Wave later?+
Yes. Export your data from Wave periodically. Many businesses outgrow a first tool; pick the stack that matches how you actually work next.
Does Invoice My Clients replace Wave for accounting?+
No. Wave leads with bookkeeping and a money suite. Invoice My Clients leads with invoice lifecycle, client experience, and AI-assisted billing. Keep an accountant or a ledger product if you need full books.
Who supports tax filing?+
Neither product replaces your accountant. Use software to organize; use professionals to file.
Is Wave available everywhere?+
Wave targets specific countries; services like Wave Payments vary by region. Check Wave's site for your location.
Try Invoice My Clients
Create professional invoices, track time, and use the AI assistant included on your plan.