QuickBooks Online vs Wave vs Xero

Written head to head: QuickBooks Online vs Xero · Wave vs QuickBooks Online, with when to choose each side.

Compared on	QuickBooks Online Free plan · from $38/mo VisitRemove	Wave Free plan · from $15.83/mo VisitRemove	Xero From $27/mo VisitRemove
What it is	Intuit's cloud accounting for US small businesses, from a free tier to plans with AI bookkeeping	Free invoicing and double-entry bookkeeping for small businesses, with a $19 Pro plan for bank sync	Cloud accounting with three US plans, no per-user fees, Gusto payroll and the JAX AI assistant
Free plan	1 user, no accountant access, up to 2 invoices a month (unlimited if you qualify for and enable QuickBooks Payments), the top 3 reports (profit and loss, balance sheet, account quick report), 1 bank connection, chat support. No credit card required. Mobile app access and third-party integrations are not available on Free.	Starter: unlimited estimates, invoices, bills and bookkeeping records; mobile invoicing; optional online payments at 2.9% + $0.60 per card transaction (3.4% + $0.60 for Amex). No automatic bank import or auto-categorisation; receipt capture is an $8/month add-on; collaborators limited to payroll manager or Block Advisors tax pro access.	No
Cheapest paid plan	$38/mo (Simple Start)QuickBooks Online pricing	$15.83/mo billed annually (Pro)Wave pricing	$27/mo (Early)Xero pricing
What it covers	1 user plus access for 2 accountants. Promotion: 50% off ($19/month) for the first 3 months. No annual contract; the pricing page shows no annual price.	Per business; $190 billed yearly. Card fees drop to 2.9% + $0 on the first 10 transactions each month. Canadian price CA$25/month or CA$250/year.	Per organization, no per-user licence fees; send quotes and 20 invoices, enter 5 bills; auto-reconcile is a $5/month add-on. Promotion: 90% off ($2.70/month) for the first 6 months for new US customers, until 2 November 2026.
Free trial	30-day free trial, shown alongside the 50%-off offer on the pricing page	None stated	One month free on any Xero plan
Platforms	Web, iOS, Android	Web, iOS, Android	Web
Integrations (vendor's figure)	800+ integrations	Not stated	Integrate with 1000+ apps
Open source	No	No	No
Good for	US small businesses that want accounting, invoicing and payroll from one vendor Sole owners starting on a free plan with a few invoices a month Growing teams that need inventory, project profitability and up to 25 users	Freelancers and sole owners who want free invoicing and bookkeeping Small businesses in the US or Canada that invoice often on a small budget Owners who want a bookkeeper to keep the books for them	Small businesses that want several people in the books without per-user fees Businesses that work closely with an accountant or bookkeeper Companies that bill or pay in foreign currencies
Watch out for	Free plan: 1 user, 2 invoices a month unless QuickBooks Payments is enabled, 1 bank connection, no mobile app or third-party integrations User caps: 1 on Simple Start, 3 on Essentials, 5 on Plus, 25 on Advanced Inventory, budgets and project profitability need Plus ($140/mo); workflow automation and custom permissions need Advanced ($340/mo)	Automatic bank imports and transaction categorisation need the Pro plan Receipt capture costs $8 a month on the free plan Its pages do not describe AI features, multi-currency or inventory tracking	Early caps you at 20 invoices and 5 bills, and auto-reconcile costs $5 a month extra Multi-currency, projects and expense claims need Established ($97/mo) Payroll costs $36 a month plus $6 per person through Gusto
Made by	Intuit Inc.	Wave Financial Inc.	Xero Limited

Entry prices are the cheapest paid plan, as each vendor publishes it; “What it covers” says what that price is per (a user, a channel, a brand, a number of contacts). The sources are listed on each tool's page.

Every tool in accounting and invoicing software is on its category page, with the written head-to-heads on Compare.