Compare
Tallyfinch vs Wave
Wave offers free online accounting with paid add-ons and payment processing. Tallyfinch is a desktop app you buy once, with your books in a file you own.
| What | Tallyfinch | Wave |
|---|---|---|
| Price | $99 once, then $5 a month for updates. | Starter: $0. Pro: US$19/month (C$25/month) billed monthly, or US$190/year (C$250/year) billed annually. Wave Advisors (bookkeeping service) is listed as "Starting at $149/month" and "Starting at $199/month". |
| Where your data is kept | In a file on your own computer. Nothing is stored on our servers. | Cloud: Wave's tools are web-based, and "Your accounting data is stored on servers that have strict physical access protocols." Data is encrypted in transit with up to 256-bit TLS; the page names no hosting provider. |
| Devices | Mac and Windows. One user on one computer. | Web browser ("Wave's tools are web-based"), plus a mobile app on iOS (App Store) and Android (Google Play). |
| Getting your transactions in | Imports bank statements and reconciles them. No automatic bank feed. | Yes, on the Pro Plan: "Wave partners with Plaid", and "Automatic bank transaction imports are part of Wave's Pro Plan." The connection is read-only. |
| If you stop paying | The app keeps working and your books stay yours. You stop getting updates. | After cancelling a Pro or Receipts subscription, "you will have access to Pro or Receipts Plan features until the end of your initial subscription period." The article does not say what happens to data. |
| What it leaves out or adds | Not included: Payroll, sales tax filing, inventory costing, several users, cloud access and a mobile app. It is built for simple books. | Advertised strengths: Card processing on Starter is 2.9% + $0.60 per transaction (3.4% + $0.60 for Amex); Pro gets 2.9% + $0 on the first ten transactions each month.; Receipt capture is an add-on on Starter at $11/month or $96/year.; Pro allows up to four user roles and removes Wave branding from invoice footers.. |
Wave details from its own pages, checked 2026-10-31: source 1, source 2, source 3, source 4, source 5. Prices and features change, so confirm on their site. Wave is a trademark of its owner; we are not affiliated with it.
Choose Wave if
You want free online accounting, card payments on your invoices, access from a phone, or automatic bank imports on Wave's paid plan.
Choose Tallyfinch if
You want your books on your own computer instead of a company's servers, with no payment-processing account tied to your invoices.
FAQ
Questions about switching
What is the main difference between Tallyfinch and Wave?
Wave offers free online accounting with paid add-ons and payment processing. Tallyfinch is a desktop app you buy once, with your books in a file you own.
Wave is free. Why pay for Tallyfinch?
If Wave's free plan does what you need, it may be the better fit. Tallyfinch is for people who want their books in a file they own and control.
Can customers pay invoices online with Tallyfinch?
No. Tallyfinch makes and tracks invoices; customers pay you however you already take payments.
Who should choose Wave?
Choose Wave if you want free online accounting, card payments on your invoices, access from a phone, or automatic bank imports on Wave's paid plan.
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