TradeTally vs Wave
Wave is a Canadian free invoicing and accounting tool acquired by H&R Block. Its core appeal is the zero price tag for invoicing and accounting. However, Wave is heavily US/Canada-focused with limited UK tax support, no MTD compliance, and monetises through payment processing fees.
Wave
Free–£0/month
Founded 2010 · Freelancers, micro-businesses (primarily North American)
TradeTally
£12/mo
Built for UK sole trader tradespeople
Feature comparison
| Feature | Wave | TradeTally |
|---|---|---|
| Invoicing | Included | ✓ |
| Quoting | Not included | ✓ |
| Expense tracking | Included | ✓ |
| Receipt scanning | Not included | ✓ |
| SA103F export | Not included | ✓ |
| Mobile app | Included | ✓ |
| MTD compatible | Not included | In progress |
| Bank reconciliation | Included | ✓ |
| Payroll | Not included | ✓ |
| Multi-currency | Not included | ✓ |
| Inventory management | Not included | ✓ |
| Time tracking | Not included | ✓ |
Where Wave wins
- Completely free invoicing and accounting features
- Clean, simple interface for basic needs
- Unlimited invoicing with no client caps
- Good for very early-stage businesses watching costs
Where TradeTally wins
- No UK tax compliance: no SA103F, no MTD
- No receipt scanning for logging expenses on the go
- No mobile-first design for tradespeople working on site
- No trade-specific features or expense categories
- No quoting functionality for providing estimates
FAQs
Is Wave really free?
Wave's invoicing and accounting are free, but they charge 2.9% + 60p per online card payment processed. For a tradesperson invoicing £3,000/month, that is roughly £90/month in fees: far more than TradeTally's £12/month flat price.
Can I use Wave for UK Self Assessment?
Wave has no SA103F export and no MTD compliance. You would need to manually calculate your Self Assessment figures from Wave's reports. TradeTally generates SA103F-ready exports with one click.
Why pay for TradeTally when Wave is free?
Wave lacks UK tax features, receipt scanning, quoting, and mobile-first trade workflows. TradeTally at £12/month saves hours of manual tax preparation and is purpose-built for UK tradespeople: the time saved pays for itself many times over.