FreshBooks, Wave and QuickBooks are the three accounting apps Canadian freelancers compare most often, and they suit different stages. Wave is the free starting point, FreshBooks is built around invoicing and client work, and QuickBooks is the fuller accounting system that bookkeepers and accountants use every day. All three bill Canadians in CAD on their Canadian pricing pages, and all three can add GST/HST to invoices once you are registered.
If you have not chosen any tool yet, our free and cheap bookkeeping tools guide starts one step earlier with a spreadsheet layout. For the invoice itself, see how to invoice clients as a Canadian freelancer. This comparison goes deeper on the three paid apps for freelance writers, virtual assistants and other service side hustles.
How do FreshBooks, Wave and QuickBooks compare for Canadian freelancers?
Wave wins on price, FreshBooks on client-facing invoicing, and QuickBooks on accounting depth. Prices below were listed on each company’s Canadian pricing page on October 7, 2026.
| Option | Best for | Pricing | In Canada | Pros | Cons |
|---|---|---|---|---|---|
| Wave | New freelancers who want free invoicing and simple books | Starter $0; Pro $25 CAD/month or $250 CAD/year (source) | Canadian pricing in CAD; card payments 2.9% + $0.60 (Amex 3.4% + $0.60) |
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| FreshBooks | Service freelancers who live in invoices, estimates and time tracking | Lite $26, Plus $42, Premium $72 CAD/month (regular prices; intro offers vary) (source) | Canadian site and CAD plans; Lite sends invoices to 5 clients |
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| QuickBooks Online | Freelancers who want full books, or whose accountant uses QuickBooks | Lite starts at $20/month; other plans see current price (source) | Canadian edition tracks sales tax; Canadian pricing page |
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Prices and features from each company's own pages, checked October 7, 2026. They change often; confirm on the official site before you buy.
FreshBooks’ page also lists add-ons: Advanced Payments at $25 a month and team members at $13 a month per user. Wave lists optional add-ons such as receipt capture and payroll, and its Pro plan waives the $0.60 fixed card fee on the first ten card transactions each month.
Which app is cheapest for a Canadian side hustle in 2026?
Wave Starter is the cheapest because it is $0 and includes unlimited invoices; you only pay card fees when clients pay online. Among the paid plans, QuickBooks Lite and Wave Pro sit near the bottom of the range and FreshBooks Lite’s regular price is $26 CAD a month.
Illustrative example
Assumed numbers, using the listed regular prices above, for one year of software only (no card fees, no promotions):
- Wave Starter: $0.
- Wave Pro billed yearly: $250 CAD.
- FreshBooks Lite at the regular monthly price: $26 × 12 = $312 CAD.
- FreshBooks Plus at the regular monthly price: $42 × 12 = $504 CAD.
This is a teaching sketch, not a quote. FreshBooks and QuickBooks both showed introductory discounts on October 7, 2026, so your first-year cost may be lower and your second-year cost higher. Check the renewal price before you pay.
How do the three handle GST/HST and CRA records?
All three let you add GST/HST to an invoice and track tax collected, which matters once you register. You must register once your taxable sales pass the $30,000 small-supplier threshold over four consecutive calendar quarters (or in a single quarter), or earlier if you choose to. Our GST/HST registration guide covers the steps.
The CRA does not require any particular software. It asks you to keep complete, readable business records that support your income and expenses. Whichever app you choose, set its expense categories to match the lines on Form T2125 so year-end reporting is a copy-paste job. See record-keeping for side hustles for what to keep.
Who should pick FreshBooks, Wave or QuickBooks?
Pick by how you work, not by brand. The rule below follows from the features and prices on each pricing page; it is not a ranking.
| If you… | Lean toward | Why |
|---|---|---|
| Send fewer than a few invoices a month and want $0 | Wave Starter | Unlimited invoices on the free plan |
| Bill by the hour or project and send estimates and proposals | FreshBooks | Invoicing, estimates and time tracking are its focus |
| Have, or plan to hire, a bookkeeper or accountant | QuickBooks Online | The accounting depth accountants expect |
| Want bank feeds without paying much | Wave Pro or QuickBooks Lite | Both are near the low end of paid plans |
| Run a product business with inventory | None of the entry plans; compare higher tiers | Entry plans are built for services |
You may not need any of them yet. A spreadsheet with an income tab, an expense tab and a mileage tab is enough for many side hustles with a few transactions a week.
What mistakes do Canadian freelancers make choosing accounting software?
The common mistakes are paying for features you will not use, and choosing on an introductory price.
- Ignoring the renewal price. Intro offers end; budget for the regular price.
- Hitting client limits. FreshBooks Lite allows invoices to 5 clients; a busy month can push you to Plus.
- Mixing personal and business transactions. Any app is easier with a separate account; see separating business and personal money.
- Turning on online card payments without pricing them in. At 2.9% + $0.60, card fees on small invoices add up.
- Switching mid-year. Moving books between apps in March is painful; switch at year-end.
Which tax rules apply when you use accounting software in Canada?
Software subscriptions you use for your business are generally deductible business expenses on Form T2125, as covered in side hustle expense deductions. The software does not file your taxes for you; you still report side hustle income on T2125.
This is not tax or accounting advice.
Which guides sit next to the FreshBooks vs Wave vs QuickBooks comparison?
Start with free and cheap bookkeeping tools and how to invoice clients. If you plan to keep books for other people, read freelance bookkeeping. For filing season, compare Wealthsimple Tax vs TurboTax vs H&R Block, and for where the money lands, KOHO vs Wealthsimple vs EQ Bank.
What are the common questions?
Is Wave really free in Canada?
Wave's Starter plan was listed at $0 on its pricing page on October 7, 2026, with unlimited estimates, invoices, bills and bookkeeping records. You pay card fees (2.9% + $0.60 per card transaction) only if clients pay online. Wave Pro, which adds bank import and receipt capture, was $25 CAD a month or $250 CAD a year.
How much does FreshBooks cost in Canada?
FreshBooks' Canadian pricing page listed regular prices of $26 CAD a month for Lite, $42 for Plus and $72 for Premium on October 7, 2026, with introductory discounts at the time. Lite sends invoices to 5 clients and Plus to 50.
Is QuickBooks or FreshBooks better for a Canadian freelancer?
FreshBooks suits freelancers whose work is mostly invoices, estimates and time tracking. QuickBooks suits freelancers who want fuller accounting or whose accountant already uses it. Both handle GST/HST on invoices.
Does the CRA require accounting software?
No. The CRA asks for complete, readable records that support your income and expenses, and it does not require any particular software or record book. A well-kept spreadsheet can be enough for a small side hustle.
Can I deduct accounting software on my taxes?
Software you use for your business is generally a deductible business expense on Form T2125. Keep the subscription receipts. This is general information, not tax advice.
Which sources support this guide?
The rules, rates, and platform requirements in this guide are checked against these primary sources. Retail price ranges are labelled as ranges to verify locally, and they are not quotes.
- Wave pricing — Wave Financial
- FreshBooks Canada pricing — FreshBooks
- QuickBooks Online Canada pricing — Intuit QuickBooks Canada
- Business records — Canada Revenue Agency
- When to register for and start charging the GST/HST — Canada Revenue Agency
- Form T2125, Statement of Business or Professional Activities — Canada Revenue Agency