Quick Overview
- 1#1: Wave - Free invoicing, accounting, and payment processing software designed for small businesses and freelancers.
- 2#2: Zoho Invoice - Affordable invoicing tool with automation, multi-currency support, and integration with Zoho ecosystem for small teams.
- 3#3: Invoice Ninja - Open-source invoicing platform with self-hosting option, customizable templates, and low-cost hosted plans.
- 4#4: ZipBooks - Free plan for unlimited invoicing with time tracking, expense management, and basic bookkeeping features.
- 5#5: Square Invoices - Free invoice creation and sending with integrated payment processing and no monthly fees.
- 6#6: Stripe Invoicing - Flexible invoicing and billing solution with subscription support and pay-per-use pricing.
- 7#7: PayPal Invoicing - Simple, free invoicing tool integrated with PayPal payments for quick online billing.
- 8#8: Crater - Free open-source invoicing app for freelancers with client management and payment tracking.
- 9#9: Akaunting - Free self-hosted accounting software featuring invoicing, expenses, and financial reporting.
- 10#10: Invoice Simple - Mobile-first invoicing app with free tier for creating and sending professional invoices quickly.
We ranked tools based on features like automation, integration flexibility, and scalability, alongside usability, technical quality, and overall value, ensuring each entry delivers practical, cost-efficient performance for businesses of all sizes.
Comparison Table
Affordable invoicing software is essential for small business efficiency, and this comparison breaks down tools like Wave, Zoho Invoice, and Invoice Ninja, outlining features, pricing, and suitability to help readers find the best fit. Explore key differences and standout benefits of each option, from free basics to premium add-ons, to make informed decisions tailored to your business needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | Wave Free invoicing, accounting, and payment processing software designed for small businesses and freelancers. | specialized | 9.6/10 | 9.2/10 | 9.7/10 | 10/10 |
| 2 | Zoho Invoice Affordable invoicing tool with automation, multi-currency support, and integration with Zoho ecosystem for small teams. | specialized | 9.2/10 | 9.0/10 | 9.4/10 | 9.8/10 |
| 3 | Invoice Ninja Open-source invoicing platform with self-hosting option, customizable templates, and low-cost hosted plans. | specialized | 8.7/10 | 9.1/10 | 8.4/10 | 9.5/10 |
| 4 | ZipBooks Free plan for unlimited invoicing with time tracking, expense management, and basic bookkeeping features. | specialized | 8.6/10 | 8.3/10 | 9.2/10 | 9.6/10 |
| 5 | Square Invoices Free invoice creation and sending with integrated payment processing and no monthly fees. | specialized | 8.7/10 | 8.2/10 | 9.5/10 | 9.8/10 |
| 6 | Stripe Invoicing Flexible invoicing and billing solution with subscription support and pay-per-use pricing. | specialized | 8.2/10 | 8.5/10 | 8.0/10 | 9.2/10 |
| 7 | PayPal Invoicing Simple, free invoicing tool integrated with PayPal payments for quick online billing. | specialized | 7.8/10 | 7.2/10 | 8.5/10 | 9.2/10 |
| 8 | Crater Free open-source invoicing app for freelancers with client management and payment tracking. | specialized | 7.8/10 | 7.5/10 | 8.0/10 | 9.2/10 |
| 9 | Akaunting Free self-hosted accounting software featuring invoicing, expenses, and financial reporting. | specialized | 8.2/10 | 8.5/10 | 7.0/10 | 9.8/10 |
| 10 | Invoice Simple Mobile-first invoicing app with free tier for creating and sending professional invoices quickly. | specialized | 7.6/10 | 7.1/10 | 9.2/10 | 8.9/10 |
Free invoicing, accounting, and payment processing software designed for small businesses and freelancers.
Affordable invoicing tool with automation, multi-currency support, and integration with Zoho ecosystem for small teams.
Open-source invoicing platform with self-hosting option, customizable templates, and low-cost hosted plans.
Free plan for unlimited invoicing with time tracking, expense management, and basic bookkeeping features.
Free invoice creation and sending with integrated payment processing and no monthly fees.
Flexible invoicing and billing solution with subscription support and pay-per-use pricing.
Simple, free invoicing tool integrated with PayPal payments for quick online billing.
Free open-source invoicing app for freelancers with client management and payment tracking.
Free self-hosted accounting software featuring invoicing, expenses, and financial reporting.
Mobile-first invoicing app with free tier for creating and sending professional invoices quickly.
Wave
specializedFree invoicing, accounting, and payment processing software designed for small businesses and freelancers.
100% free unlimited invoicing with professional templates and payment tracking—no hidden costs or subscription required for core use.
Wave is a free cloud-based accounting software designed for small businesses and freelancers, offering unlimited invoicing, accounting, and receipt management. It allows users to create customizable, professional invoices, send them via email, and track payments in real-time. Additional features include automated reminders, recurring billing, and integration with payment processors for easy collections.
Pros
- Completely free core invoicing with no limits on invoices or customers
- Intuitive interface with mobile app support for on-the-go management
- Seamless payment integration and automated reminders to speed up collections
Cons
- Transaction fees apply for credit card payments (2.9% + 30¢)
- Limited advanced reporting compared to paid enterprise tools
- Payroll and advanced features restricted to US/Canada users
Best For
Freelancers, solopreneurs, and small businesses seeking a no-cost, user-friendly invoicing solution without sacrificing professionalism.
Pricing
Free for invoicing, accounting, and receipts; payments at 2.9% + 30¢ per credit card transaction (lower for bank transfers); payroll from $20/month + $6/employee.
Zoho Invoice
specializedAffordable invoicing tool with automation, multi-currency support, and integration with Zoho ecosystem for small teams.
Integrated time tracking and project billing on the free plan
Zoho Invoice is a cloud-based invoicing tool from Zoho that enables small businesses and freelancers to create, send, and track professional invoices, estimates, and payment reminders. It includes features like time tracking, expense management, client portals, and integrations with payment gateways such as Stripe and PayPal. With a generous free plan and scalable paid options, it's designed for cost-effective billing automation without compromising on essential functionality.
Pros
- Generous free plan with unlimited invoices for up to 3 clients
- Built-in time tracking, projects, and multi-currency support
- Excellent mobile app and seamless payment integrations
Cons
- Free plan limits clients to 3 and lacks advanced reporting
- Customer support primarily ticket-based on free tier
- Full potential requires Zoho ecosystem familiarity
Best For
Freelancers and micro-businesses seeking a free or low-cost invoicing solution with growth potential.
Pricing
Free forever plan (up to 3 clients); paid plans start at $9/month (billed annually) for more clients and features.
Invoice Ninja
specializedOpen-source invoicing platform with self-hosting option, customizable templates, and low-cost hosted plans.
Fully open-source self-hosting for unlimited use at zero software cost
Invoice Ninja is an open-source invoicing software tailored for freelancers, small businesses, and agencies to create, send, and manage professional invoices, quotes, and payments. It offers a self-hosted version that's completely free with unlimited usage, alongside affordable hosted plans that include features like recurring billing, expense tracking, time logging, and multi-currency support. The platform emphasizes automation, customization, and integrations with payment gateways like Stripe, PayPal, and QuickBooks.
Pros
- Completely free self-hosted option with unlimited invoices and clients
- Robust feature set including payments, expenses, and project management
- Extensive customization for invoices and strong integrations
Cons
- Self-hosting requires server setup and technical maintenance
- Free hosted plan limited to 50 clients
- Interface can feel dated compared to modern competitors
Best For
Freelancers and small businesses seeking a powerful, no-cost or low-cost invoicing tool with full control over data and hosting.
Pricing
Self-hosted: Free forever; Hosted: Free (50 clients), Pro $10/mo (unlimited clients), Enterprise $30/mo (advanced features).
ZipBooks
specializedFree plan for unlimited invoicing with time tracking, expense management, and basic bookkeeping features.
Free unlimited invoicing with payment processing and automated reminders
ZipBooks is a cloud-based accounting platform tailored for small businesses, emphasizing fast and professional invoicing, time tracking, and automated bookkeeping. It enables users to create customizable invoices, accept online payments via multiple gateways, and track billable hours seamlessly. With a free forever plan offering unlimited invoicing, it's a strong contender in the cheap invoicing software category, though higher tiers unlock advanced features like bank reconciliation and detailed reporting.
Pros
- Free plan with unlimited invoices and payments processing
- Intuitive drag-and-drop invoice builder
- Integrated time tracking for billable hours
Cons
- Limited advanced reporting and analytics in free tier
- No built-in inventory or project management tools
- Customer support primarily email-based on lower plans
Best For
Freelancers and very small service-based businesses needing simple, cost-free invoicing with basic bookkeeping.
Pricing
Free forever plan; Smarter plan at $17/mo (billed annually); Sophisticated at $37/mo (billed annually).
Square Invoices
specializedFree invoice creation and sending with integrated payment processing and no monthly fees.
Zero monthly fees with instant payment deposits (for eligible accounts)
Square Invoices is a free invoicing tool from Square that enables small businesses to create, customize, send, and track professional invoices via web or mobile app. It supports online payments, recurring billing, reminders, and integrates seamlessly with Square's POS and payment processing systems. Designed for simplicity, it handles everything from one-off services to ongoing client billing without monthly fees.
Pros
- Free unlimited invoicing with no monthly subscription
- Built-in payment processing for quick collections
- Intuitive mobile app for on-the-go invoicing
Cons
- Transaction fees (2.9% + 30¢ per card payment)
- Limited advanced customization and reporting
- Less ideal for complex enterprise needs
Best For
Freelancers and small businesses seeking dead-simple, no-cost invoicing with easy payment integration.
Pricing
Free for unlimited invoices; processing fees only (2.9% + 30¢ for card, 1% for ACH, up to $7.50).
Stripe Invoicing
specializedFlexible invoicing and billing solution with subscription support and pay-per-use pricing.
Direct payment links on invoices with support for 100+ payment methods and automatic reconciliation.
Stripe Invoicing is a free tool integrated into the Stripe payment platform that enables users to create, customize, send, and track professional invoices online. It supports one-time and recurring billing, automatic payment reminders, and seamless collection via credit cards, ACH, and other methods. Designed for businesses already using Stripe, it streamlines invoicing without monthly fees, charging only standard transaction fees upon payment.
Pros
- No monthly subscription fees, only pay per transaction
- Seamless integration with Stripe payments for instant collections
- Automation for reminders, recurring invoices, and tracking
Cons
- Transaction fees (e.g., 2.9% + $0.30 per card payment) add up for high volume
- Limited standalone features without a Stripe account
- Less customization than dedicated invoicing apps like FreshBooks
Best For
Freelancers and small online businesses already using Stripe who need simple, low-cost invoicing tied to payments.
Pricing
Free to use; standard Stripe processing fees apply (e.g., 2.9% + $0.30 per successful US card charge).
PayPal Invoicing
specializedSimple, free invoicing tool integrated with PayPal payments for quick online billing.
Direct PayPal payment gateway allowing clients to pay instantly via credit card, PayPal balance, or bank without needing their own PayPal account
PayPal Invoicing is a free tool integrated into PayPal accounts that enables users to create, customize, send, and track professional invoices online. It supports one-time and recurring billing, payment reminders, and multi-currency options for global transactions. Ideal for quick invoicing without upfront costs, it processes payments securely through PayPal's ecosystem.
Pros
- Free to create and send unlimited invoices
- Seamless integration with PayPal payments for instant processing
- Mobile app support for on-the-go invoicing and tracking
Cons
- Transaction fees apply (e.g., 2.99% + $0.49 per invoice payment)
- Limited advanced features like inventory tracking or detailed reporting
- Customization options are basic compared to dedicated invoicing software
Best For
Freelancers and small businesses already using PayPal who need simple, no-cost invoicing with built-in payment collection.
Pricing
Free for invoicing; standard PayPal fees apply to received payments (2.99% + $0.49 for domestic invoices).
Crater
specializedFree open-source invoicing app for freelancers with client management and payment tracking.
100% free and open-source with no usage limits or hidden fees
Crater is a 100% free, open-source invoicing software designed for small businesses and freelancers to create professional invoices, manage customers, track payments, and handle expenses without any subscription costs. It offers features like recurring invoices, multi-currency support, inventory management, and detailed reports, all accessible via a modern web interface. Self-hosted on your own server, it prioritizes data privacy and unlimited usage with no feature restrictions.
Pros
- Completely free with unlimited invoices, customers, and payments
- Open-source and fully customizable
- Modern, intuitive React-based interface
Cons
- Requires self-hosting and technical setup (e.g., server management)
- Limited integrations with third-party tools like payment gateways
- No native mobile app or official cloud hosting option
Best For
Tech-savvy freelancers and small businesses seeking a free, self-hosted invoicing solution with full data control.
Pricing
Free (open-source, self-hosted); optional paid support or cloud hosting via partners.
Akaunting
specializedFree self-hosted accounting software featuring invoicing, expenses, and financial reporting.
100% open-source self-hosting for unlimited, private invoicing without vendor lock-in
Akaunting is a free, open-source accounting software tailored for small businesses and freelancers, offering comprehensive invoicing, expense tracking, bill management, and financial reporting. It supports multi-company setups, multiple currencies, and banking integrations, all self-hosted on your own server for full data control. The modular app system allows extensive customization without additional costs.
Pros
- Completely free with no usage limits or hidden fees
- Highly customizable via open-source modules and apps
- Strong privacy through self-hosting and multi-company support
Cons
- Self-hosting requires technical setup (PHP, MySQL server)
- Community-based support lacks premium responsiveness
- User interface feels somewhat dated compared to modern SaaS tools
Best For
Tech-savvy small businesses and freelancers seeking a no-cost, customizable invoicing solution with full data ownership.
Pricing
Free self-hosted forever; optional cloud hosting from $6/month.
Invoice Simple
specializedMobile-first invoicing app with free tier for creating and sending professional invoices quickly.
Mobile receipt scanning for effortless expense logging and categorization
Invoice Simple is a straightforward mobile and web-based invoicing app tailored for freelancers and small businesses to create professional invoices, estimates, and receipts quickly. It offers customizable templates, payment collection via Stripe or PayPal, and basic expense tracking with receipt scanning. The free tier makes it particularly appealing for budget-conscious users, though premium plans unlock unlimited usage and advanced tools.
Pros
- Generous free plan with core invoicing functionality
- Highly intuitive interface, especially on mobile
- Fast invoice creation and sharing via email/SMS
Cons
- Free version includes ads and limits on invoices/expenses
- Lacks advanced features like time tracking or inventory
- No deep integrations with accounting software
Best For
Solo freelancers and micro-businesses seeking dead-simple, low-cost invoicing without bells and whistles.
Pricing
Free plan (limited invoices, ads); Pro: $9.99/month or $79.99/year (unlimited invoices, no ads); additional premium features via one-time purchases.
Conclusion
The reviewed tools offer a range of affordable solutions, from free plans to flexible paid options, catering to diverse needs. Wave stands out as the top choice, excelling with its comprehensive free invoicing, accounting, and payment processing features for small businesses and freelancers. Zoho Invoice and Invoice Ninja are strong alternatives, with Zoho offering automation and ecosystem integration, and Invoice Ninja providing customization and self-hosting flexibility.
Take the first step toward efficient invoicing by exploring Wave—its user-friendly design and all-in-one capabilities make it a top pick for streamlining your billing process.
Tools Reviewed
All tools were independently evaluated for this comparison