Comparison guide
Handl vs Wave: When Free Isn't Actually Free Enough
Wave is genuinely free for invoicing and accounting — and for a lot of early-stage freelancers, that's enough. But free tools come with trade-offs, and the main one with Wave is that it's built for simple bookkeeping, not for running project-based creative or technical work. Handl is a paid tool, starting at $29/month, and it's built specifically for agencies and freelancers who manage projects, proposals, milestones, and clients who sometimes go quiet when a payment is due. This comparison breaks down where each tool actually makes sense.
Written by Darren Clark — Founder of Handl — 20+ years building software and running agencies
Last updated 11 June 2026
Quick verdict
Wave is the right call if you need free, simple invoicing and basic accounting and your work isn't project-complex. Handl is the right call the moment you're managing milestones, proposals, scope changes, or you're tired of chasing payments manually.
Side by side
How they stack up
Handl
Best for: Project-based freelancers and agencies who want automated payment collection, milestone billing, and a proper client-facing workflow.
Wave
Free
payments 2.9% + $0.60 per transaction
Best for: Early-stage freelancers and solo operators who need free invoicing and basic double-entry accounting with minimal complexity.
- Unlimited invoicing (free)
- Basic accounting included
- Receipt scanning
- Payment processing built-in
- Simple bank connections
- No monthly subscription
Feature by feature
Handl vs Wave: feature comparison
| Feature | Handl | Wave |
|---|---|---|
| Milestone-based billing | ✅ | ❌ |
| Automated payment reminders | ✅ | ⚠️ Basic manual reminders only |
| AI-native (not bolt-on) | ✅ | ❌ |
| Client portal | ✅ | ❌ |
| Quote / proposal builder | ✅ | ⚠️ Basic estimates only |
| Digital signatures | ✅ | ❌ |
| Change order management | ✅ | ❌ |
| Revenue forecasting | ✅ | ❌ |
| PM tool integrations (Jira, Asana, Monday) | ✅ | ❌ |
| Xero / MYOB integration | ✅ | ❌ |
| Time tracking integrations | ✅ | ❌ |
| Multi-currency | ✅ | ⚠️ Limited multi-currency support |
| Project health scoring (AI) | ✅ | ❌ |
| Free trial | ✅ 7-day free trial | ✅ Free forever (core features) |
| Starting price | From $29/mo | Free |
| Per-seat pricing | ❌ Plan tiers — Agency $199/mo = unlimited users | ❌ Free, transaction fees on payments |
A closer look at Wave
Wave launched in 2010 as a genuinely free accounting and invoicing platform, and it's held that position ever since. The business model is transaction-based — Wave makes money when you take payments through their platform (2.9% + 60c for credit cards, 1% for bank transfers). For businesses that invoice occasionally or run low volumes, it can be a very cost-effective setup.
The accounting side is legitimately solid. Wave does proper double-entry bookkeeping, expense tracking, and basic reporting. It's more accounting software than invoicing tool, and that accounting foundation is worth acknowledging — it's not a toy.
Where Wave runs into limits for project-based work: there's no concept of project milestones, no client portal, no proposal or quote builder, no digital signatures, no change order management, and no PM tool integrations. Payment reminders are basic and manual. There's no AI layer anywhere in the product. It was built to solve bookkeeping — it was never designed to manage the full financial ops workflow of an agency handling multiple projects with complex deliverables and clients spread across time zones.
For freelancers doing simple, one-off work — a logo, a website page, an hourly consulting gig — Wave is a perfectly reasonable choice and the free price is hard to argue with. The moment your work gets more complex, the gaps start to show.
Wave was acquired by H&R Block in 2019, and development has been steady but not notably accelerating into agency-specific features. It remains a bookkeeping-first product.
Strengths
What are our strengths?
- Milestone billing. Wave has no concept of project phases. If your invoice is tied to a deliverable rather than a date, Handl handles it — Wave doesn't.
- AI-driven payment reminders. Handl tracks what's overdue and sends reminders automatically, adjusting timing based on client behaviour. Wave's reminders are manual and basic.
- Client portal. Clients get a dedicated space to view proposals, invoices, and project status. Wave has no equivalent — clients just receive email PDFs.
- Proposal builder with digital signatures. Send a quote, get it signed in the same flow. No PDFs, no DocuSign add-ons, no email chains.
- Change order management. When a client asks for something extra, you can log it, price it, and get written approval without leaving Handl. Wave has no concept of scope management.
- PM tool integrations. Jira, Asana, Monday.com — Handl connects to your existing workflow. Wave connects to nothing relevant to project work.
- Revenue forecasting and project health scoring. Know whether your pipeline is healthy before it becomes a problem. Wave's reporting is limited to backward-looking accounting data.
- Xero and MYOB integration. Push your billing data to your accounting software of choice — Handl and Wave can coexist if you want free accounting with proper agency billing.
- It's free. For basic invoicing and accounting, you genuinely pay nothing. That matters when you're starting out or testing the waters.
- Double-entry accounting. Wave's bookkeeping foundation is solid. Proper chart of accounts, balance sheets, profit and loss — real accounting, not just invoice tracking.
- Expense tracking. Connect your bank account, categorise transactions, track what's coming in and going out. Useful for keeping a full financial picture.
- Simple to learn. The interface is clean and there's not much to configure. You can be up and sending invoices in under 10 minutes.
- Bank reconciliation. Wave connects to your bank and helps you match transactions. Saves time at tax season.
- No monthly commitment. Because it's free, there's no contract, no trial expiry, no pressure to decide. You just... use it.
Which one is for you?
When to choose each tool
Handl makes sense the moment your work involves more than a simple hourly invoice. If you're writing proposals, breaking projects into milestones, dealing with clients who expand scope mid-project, or spending mental energy chasing late payments — from $29 a month, it's almost certainly worth it.
The payment reminder automation alone changes the dynamic. When clients know the system follows up automatically, they tend to pay faster. You stop being the person who has to send the third awkward email. That shift in dynamic is hard to put a dollar value on, but anyone who's been there knows what it's worth.
Handl also integrates with Xero and MYOB, so you don't have to give up proper accounting. Use Handl for billing and client-facing work, push the data to your accounting software of choice — that combination is actually stronger than either tool alone.
Wave is the honest choice if you're just getting started and cash is tight, or if your work is genuinely simple — fixed-price or hourly projects without much back-and-forth with clients. It's also worth considering if you need a full double-entry accounting system and aren't ready to pay for Xero or MYOB alongside a billing tool. The free price is real and the bookkeeping is solid.
Frequently asked questions
Can I migrate my data from FreshBooks to Handl?
Yes — you can import your client list, outstanding invoices, and project data. Our onboarding team can help walk you through the process during your free trial.
Does Handl replace my accounting software (Xero, MYOB)?
No. Handl is a billing and client management layer that sits on top of your existing accounting software. It integrates with Xero and MYOB so your books stay in sync.
Is Handl only for agencies?
Handl is designed for project-based businesses — agencies, consultancies, and freelancers who bill by milestone, phase, or deliverable rather than purely by the hour.
What happens after the 14-day trial?
You'll be prompted to choose a plan. If you decide not to continue, your data is retained for 30 days in case you change your mind. No credit card is taken during the trial.
Do my clients need to pay for access to the portal?
No. Client portal access is free and unlimited — it's included in your $29/month plan.
The verdict
Wave is a good free tool for a specific problem — basic invoicing and bookkeeping for simple service businesses. It does that job honestly and without trying to oversell itself.
But if you're an agency or freelancer managing projects with milestones, proposals, scope changes, and clients who occasionally go quiet at invoice time — Wave will leave you doing a lot of manual work that shouldn't be manual.
Handl is the tool that fills that gap. It's not accounting software — it's the billing and client ops layer that sits on top of your accounting software. Use them together if you want: Handl for the client-facing workflow and payment automation, Xero or MYOB for your books.
From $29 a month with a 7-day free trial, it's a low-risk test. If you're spending more time chasing money than making it, that's the sign.
Try Handl free at handl.works.
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