Billvate vs Wave
Both are free invoicing tools, and both make money when you get paid. The difference is what each was built around. Wave is accounting software with invoicing attached: real double-entry books, and it is good at them. Billvate is invoicing built around collections: the reminders, late fees, and deposits that get the invoice paid.
At a glance
Wave pricing and features referenced from waveapps.com as of August 2026.
| Billvate | Wave | |
|---|---|---|
| Free plan | Every feature, unlimited invoices and clients | Starter: unlimited invoices, estimates, and bookkeeping records |
| Automatic payment reminders | Included free, on your schedule, before and after the due date | Automated reminders are a Pro feature |
| Late fee automation | Included free: grace periods, flat or percentage fees, caps, exemptions | Not offered as a built-in automation |
| Deposits and retainers | Deposit requests, retainer accounts, and payment links, free | Not offered as a dedicated feature |
| Accounting | Not offered | Real double-entry bookkeeping, included free |
| Card processing | Standard Stripe fees, plus a 1% Billvate fee on Free (0% on Pro) | 2.9% + $0.60 per card transaction on Starter |
| Paid plan | Pro, $9/month: no branding, 0% Billvate payment fee | Pro, $19/month or $190/year |
Where Wave wins
Accounting. Wave gives you genuine double-entry bookkeeping on its free plan, with bank connections and transaction categorization on Pro. If you want your invoicing tool to also be your books, Wave is the stronger choice, and we say that plainly.
Where Billvate wins
- Collections on the free plan. Automatic reminders are free on Billvate; on Wave they require Pro at $19 a month. Billvate adds late fee automation with grace periods, caps, and exemptions, which Wave does not offer as a built-in automation.
- Deposits and retainers. Request a deposit before work starts, run retainer accounts with running balances, and send payment links for both. This workflow does not exist in Wave.
- Client portal. Your clients see their invoices and history and pay online, free.
- Cheaper paid tier. Billvate Pro is $9 a month against Wave Pro at $19, and it removes our 1% payment fee entirely.