Disclosure: QuickBooks pays LedgerLogic when you sign up through our link, at no cost to you; Wave pays us nothing. Each pick follows the business described.
Should a Canadian small business use QuickBooks or Wave?
Wave Starter is still $0, but automatic bank imports now need Wave Pro at $25 a month. QuickBooks Online includes bank feeds on every plan, adds bills, multiple currencies, inventory and more users as you grow, and through our link EasyStart is $168 for year one against $250 for Wave Pro. Wave stays the pick for a tiny business happy to enter transactions by hand.
At a Glance
Wave and QuickBooks Online are the two accounting apps Canadian small businesses most often weigh against each other, and for most of the last decade the answer was simple: Wave was free. It is still free to start, but bank imports now sit on its paid Pro plan, and that changes the arithmetic. Below: what each costs in Canada, what you get, and when to switch.
QuickBooks or Wave: which should you pick?
- Wave Starter ($0) fits a side business or new sole proprietor sending a few invoices a month who is happy to enter transactions by hand.
- Wave Pro ($25 a month) adds automatic bank imports and receipt capture, for a one-person business that wants the books mostly automatic at the lowest price.
- QuickBooks Online fits once you pay bills, invoice in US dollars, track inventory, need more than one user, or want your accountant working in the same file. Through our link, EasyStart costs less than Wave Pro in year one.
How do QuickBooks and Wave compare in Canada?
| Wave | QuickBooks Online | |
|---|---|---|
| Free plan | Starter, $0 | None; 30-day free trial |
| Paid plans (CAD a month) | Pro $25, or $250 a year | EasyStart $30, Essentials $70, Plus $110, Advanced $220 |
| Automatic bank imports | Pro only | Every plan |
| Receipt capture | Pro, or $11 a month add-on on Starter | Every plan |
| Bill management | Bills on every plan | Essentials and up |
| Inventory | Not on the pricing page | Plus and up |
| Users | See Wave's plan comparison | 1, 3, 5 or 25 by plan, plus your accountant |
| Card payments | 2.9% + $0.60 (Amex 3.4% + $0.60) | Through QuickBooks Payments; bank payments 1% |
| Payroll | Add-on from $25 a month | Core $30 + $5 per employee |
| New-customer offer | None listed | 80% off for 8 months through our link |
Read at waveapps.com/pricing and quickbooks.intuit.com/ca on 31 October 2026, before tax.
What do QuickBooks and Wave cost over a year?
| Setup | Year one | Year two |
|---|---|---|
| Wave Starter | $0, plus card fees | $0 |
| Wave Pro, billed annually | $250 | $250 |
| Wave Pro, billed monthly | $300 | $300 |
| QuickBooks EasyStart, through our link | $168 | $360 |
| QuickBooks Essentials, through our link | $392 | $840 |
CAD before tax. QuickBooks figures use the partner offer, 80% off for 8 months, then list price.
So the honest version: with bank feeds, QuickBooks costs less than Wave Pro in year one through our link and about $110 more from year two on EasyStart. What the extra buys is accountant access on every plan, Sales Tax AI, and a path to bills, multiple currencies, inventory and more users without changing software. Every QuickBooks price is broken down in our QuickBooks Online pricing guide.
Get 80% off QuickBooks Online for 8 months
EasyStart is $6 a month for the first 8 months through our partner link, with bank feeds and access for your accountant. New QuickBooks customers, no code.
Where Wave wins
- A real $0 plan. Unlimited invoices, estimates, bills and bookkeeping records on Starter, with no time limit.
- Lower ongoing cost for one person. Wave Pro at $250 a year undercuts every QuickBooks plan from year two.
- Payroll from $25 a month, in the same login.
- Cheaper card fees on Pro for small volumes: the first ten card payments each month are 2.9% with no fixed fee.
Where QuickBooks wins
- Bank feeds on every plan, including the cheapest, with automatic categorization.
- Room to grow: bill management and multiple currencies on Essentials, inventory and project profitability on Plus, up to 25 users on Advanced.
- Your accountant in the file on every plan, in software widely used by Canadian bookkeepers.
- A first-year discount: 80% off for 8 months through our link, EasyStart at $6 a month.
How do you switch from Wave to QuickBooks?
- Pick a clean date, the first day of a month and ideally your fiscal year, so one system holds each period.
- Export from Wave: customer and vendor lists, open invoices and bills, and a trial balance at the switch date.
- Set up QuickBooks: chart of accounts, GST/HST, PST or QST rates, and the bank feed. Buy through the partner link before starting any trial if you want the 8-month offer.
- Enter opening balances from the Wave trial balance, then re-create open invoices and bills so receivables and payables match.
- Reconcile the first month in QuickBooks against the bank statement before you cancel Wave, and keep Wave's reports for your records.
If your accountant prefers Xero, the same steps apply; see Xero vs QuickBooks for Canada. Get 80% off QuickBooks for 8 months.
Frequently Asked Questions
Is Wave still free in Canada?
Is QuickBooks or Wave cheaper in Canada?
Should I switch from Wave to QuickBooks?
Does Wave do payroll in Canada?
Which handles GST/HST better, QuickBooks or Wave?
Can my accountant work in Wave or QuickBooks?
Sebastien ProstCPA, Ex-CRA
Licensed CPA with 10+ years of experience, including work with the Canada Revenue Agency. Founder of LedgerLogic, a cloud accounting firm serving Canadian SMEs. Xero Certified Advisor.
