Straight answer
QuickBooks vs Xero vs Wave: which is cheapest for a small business?
Last checked Nov 3, 2026. Every price comes from the tool's own pricing page.
The short answer
Wave is the cheapest: its Starter plan is free and Pro is $19 a month. QuickBooks Online has a free plan with 1 user and 2 invoices a month, and its paid plans start at $38 a month list price. Xero has no free plan and starts at $27 a month.
QuickBooks and Xero both discount the first 3 months for new customers (QuickBooks Simple Start $19, Xero Early $5.40), then charge the regular price.
All prices were read from each tool's own pricing page on Nov 3, 2026.
Compared, with sources
| Tool | What it does for you | Plans and prices (as shown) | Free plan | Source |
|---|---|---|---|---|
| Wave | Free invoicing, estimates and bookkeeping records for very small businesses; the paid plan adds bank-transaction import and receipt capture. | Starter $0 (card payments 2.9% + $0.60) · Pro $19/mo, or $190 a year | Yes | Pricing page checked Nov 3, 2026 |
| QuickBooks Online | The most widely used small-business accounting app, with AI-assisted categorizing and chat in the paid plans. | Free $0 (1 user, 2 invoices a month) · Simple Start $38/mo list ($19 for the first 3 months) · Essentials $85 · Plus $140 | Yes | Pricing page checked Nov 3, 2026 |
| Xero | Online accounting with bank reconciliation, invoices and bills, and no per-user fees. | Early $27/mo · Growing $59/mo · Established $97/mo (80% off the first 3 months for new US customers) | No | Pricing page checked Nov 3, 2026 |
Order: lowest starting price first. Plans and limits are summarized from each pricing page; open the source for the full list. This is not accounting or tax advice.
Questions people ask
Which is the best accounting software for a very small business, QuickBooks, Xero or Wave?
For the lowest cost, Wave. On Nov 3, 2026 its Starter plan was $0 and its Pro plan was $19 a month. QuickBooks Online has a free plan too, but it allows only 1 user and 2 invoices a month, and its paid plans start at $38 a month list price. Xero has no free plan and starts at $27 a month.
Is there a free version of QuickBooks, Xero or Wave?
Wave Starter is free, and QuickBooks Online has a Free plan with 1 user, 2 invoices a month and 1 bank connection. Xero has no free plan; it offers a limited-time discount for new customers instead.
How much do the paid plans cost?
On Nov 3, 2026 the lowest paid plans were Wave Pro at $19 a month, Xero Early at $27 a month and QuickBooks Simple Start at $38 a month list price. QuickBooks and Xero both show a discount for the first 3 months, then the regular price applies.
Which one is better for a nonprofit?
None of the three pricing pages we read listed a nonprofit plan on Nov 3, 2026, so ask each vendor directly. We cannot give accounting, tax or legal advice, so talk to your bookkeeper or accountant before you pick a system for your books.
How were these prices checked?
Each price was read from the tool's own pricing page on Nov 3, 2026 and is linked in the table. Nothing on this page is sponsored, and the order is not for sale.
Sorted for usefulness, not payment: nothing on this page is sponsored. Prices change, so check the tool's own page before you buy. Nothing here is legal, tax or financial advice. How we check prices
New tools and price changes, once a week
One short email. Every price has its source and the date we checked it. At most one sponsor per issue, marked “Sponsored.”
Free guide: 18 AI tools under $20 a month for a small business, every price sourced and dated. No sign-up needed to read it.