HoneyBook vs Wave Invoicing
An honest side-by-side comparison of two of our top invoicing & billing picks — pricing, strengths, weaknesses, and who each one is really for.
HoneyBook
Ranked #2 of 21 in this directory
All-in-one clientflow platform — proposals, contracts, invoices, and payments
Wave Invoicing
Ranked #3 of 21 in this directory
100% free invoicing with unlimited invoices and clients
Our pick: HoneyBook. Our editors rank HoneyBook higher overall in Invoicing & Billing — but Wave Invoicing can be the better fit depending on your budget and use case below. How we review
Compare the details
| HoneyBook | Wave Invoicing | |
|---|---|---|
| Pricing model | Paid | Free |
| Starting price | See website | Free |
| Category | Client Portals | Invoicing Software |
| Editorial rank | #2 of 21 | #3 of 21 |
Strengths
HoneyBook
- ✓Unified proposals + contracts + invoices in one document
- ✓Beautiful, modern templates that impress clients
- ✓Automation for follow-ups, reminders, and workflows
- ✓Flat monthly pricing regardless of revenue volume
- ✓Built-in scheduling and project tracking
Wave Invoicing
- ✓Genuinely free — no monthly fee, no client limits
- ✓Professional invoice templates with customization
- ✓Online payment acceptance (cards and bank transfers)
- ✓Recurring invoicing for subscription-style billing
- ✓Built-in accounting syncs with invoices automatically
Watch out for
HoneyBook
- !Not suitable for product-based businesses
- !Limited accounting and financial reporting
- !Payment processing fees are on top of subscription
- !Can be too opinionated for some workflows
Wave Invoicing
- !Limited customization compared to paid platforms
- !Customer support is limited on free plan
- !No time tracking or project features
- !Payment processing fees (2.9% + $0.60 for cards)
Best use cases
HoneyBook
- →Wedding photographer managing client bookings end-to-end
- →Event planner combining proposals and contracts
- →Design studio automating the client intake process
Wave Invoicing
- →Solopreneur needing free professional invoicing
- →Side business that can't justify a monthly subscription
- →Freelancer wanting invoicing tied to free accounting
About each tool
HoneyBook
HoneyBook combines proposals, contracts, invoicing, online payments, scheduling, and project management in one platform for service businesses. The smart file feature lets you combine a proposal, contract, and invoice into a single interactive document that clients can review, sign, and pay in one flow. HoneyBook excels for creative professionals — photographers, event planners, designers, and consultants who manage client relationships from inquiry to payment. Pricing is flat: $8/month Starter, $16/month Essentials, $33/month Premium.
Wave Invoicing
Wave offers completely free invoicing — unlimited invoices, unlimited clients, no monthly fee. You can create professional invoices, set up recurring billing, accept online payments (with processing fees), and track what's been paid. Wave monetizes through payment processing and payroll add-ons, keeping invoicing genuinely free. It's the best option for solopreneurs and micro-businesses that need simple invoicing without a subscription.
Still deciding? Browse all 21 options with honest pros, cons, and pricing.
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