# HelloBooks vs Wave

> Last updated: 2026-05-16
> Canonical HTML: https://hellobooks.ai/compare/hellobooks-vs-wave

Wave's pitch is "free accounting." HelloBooks has a permanent Free plan too — 154 features, 3 users — and on Pro at $9.99/mo adds AI categorization, bill OCR, multi-currency without per-transaction fees, and a public MCP server for AI agents.

## Side-by-side

| Feature | HelloBooks | Wave |
|---------|-----------|------|
| Free tier | Permanent, 154 features, 3 users | Free for accounting + invoicing |
| Paid tier | Pro $9.99/mo | Pro $16/mo |
| AI automation | Categorization, OCR, anomaly detection | None |
| Payment processing | Stripe / Razorpay / PayPal — your account | Wave Payments (2.9% + 60¢) |
| Bank feeds | 11,000+ US banks via Plaid | US + Canada bank feeds |
| Multi-currency | Included on all plans | USD-first; FX is manual |
| Mobile receipts | Built-in OCR | Receipt scanning (separate Wave Receipts) |
| Payroll | Integration roadmap (Gusto WIP) | Wave Payroll add-on (US, Canada) |
| Inventory | Full inventory + 3-way matching | None |
| Multi-entity | Native | Separate Wave accounts |

## Key differences

**AI vs no AI.** Wave's "free" is genuinely free for basic invoicing and accounting, but does no AI. HelloBooks Free Plan also gives 500 AI categorizations / month + OCR receipts.

**Currency.** Wave is USD-first; multi-currency requires workarounds. HelloBooks ships multi-currency on every plan with auto FX gain/loss.

**Payment processing.** Wave monetizes through its payment processor (2.9% + 60¢). HelloBooks lets you bring your own — Stripe, Razorpay, PayPal — so margins go where you decide.

**Inventory and accounting depth.** Wave is intentionally light. HelloBooks ships inventory, 3-way PO matching, multi-entity consolidation, custom dimensions — features for businesses growing past "5 invoices a month."

## Choose HelloBooks if you

- Want AI automation even on the free plan.
- Need multi-currency without manual hacks.
- Want to bring your own payment processor.
- Plan to grow past Wave's accounting depth (inventory, multi-entity).

## Choose Wave if you

- Are a true micro-business with only basic invoicing needs.
- Use Wave Payments / Payroll and want one bundle.
- Value free over depth.

## Migration

CSV import from Wave into HelloBooks. Transactions, customers, invoices transfer cleanly. Wave doesn't expose a direct API for bulk migration.

Canonical HTML: https://hellobooks.ai/compare/hellobooks-vs-wave