Coconut vs Wave: Pricing and Ratings Compared (2026)
Entry prices and free plans as read on each vendor's pricing page, and user ratings as published on review sites, for Coconut and Wave side by side. This page compares data; it is not a hands-on review.
On the data: On the data below, Wave leads on a free plan. We do not name an overall winner for this pair.
Short on time? Here's the quick answer
Based on published vendor pricing and features and on public review data, here's who should pick what:
Coconut
Effortless accounting and tax management for self-employed individuals and landlords.
Best for you if:
- • You want HMRC-recognised and compliant for MTD for Income Tax
Wave
Free accounting, invoicing, and receipt scanning for small businesses
Best for you if:
- • You want a free tier before you commit
| At a Glance | Coconut | Wave |
|---|---|---|
Starts at | From $10.42/mo, billed yearly Essentials plan | Free plan, paid from $19/mo flat, billed monthly Pro plan |
Category | Accounting Invoicing | Accounting Invoicing |
Rating | 4.4/5 Trustpilot 4.3 · G2 5.0 756 reviews | 4.3/5 Capterra 4.4 · G2 4.3 · SourceForge 3.2 2,059 reviews |
Free plan | No | Yes |
Watch out for | No monthly payment option shown on pricing page, only annual. | n/a |
Choose Coconut or Wave?
Choose Coconut if
- You want HMRC-recognised and compliant for MTD for Income Tax
- You want easy to use with both mobile and desktop access
Choose Wave if
- You want a free tier before you commit
- You want core features free
- You want easy to use
In-Depth Analysis
Coconut
Effortless accounting and tax management for self-employed individuals and landlords.
Coconut's pricing is fair, especially for the Essentials tier at $99.99 per year, offering robust accounting features for sole traders.
Watch out
No monthly payment option shown on pricing page, only annual.
Strengths
- Pro: HMRC-recognised and compliant for MTD for Income Tax
- Pro: Easy to use with both mobile and desktop access
- Pro: Secure bank integrations for automated tracking
- Pro: Provides real-time tax estimates to avoid surprises
- Pro: Dedicated support, including ex-HMRC staff, for MTD compliance
Weaknesses
- Con: Primarily focused on UK sole traders and landlords, may not suit other business types or regions
- Con: No free tier, only a 14-day free trial
Key features
Wave
Free accounting, invoicing, and receipt scanning for small businesses
Wave's Starter tier is incredibly generous, offering unlimited invoicing and bookkeeping for free, which is rare in the market.
Strengths
- Pro: Core features free
- Pro: Easy to use
- Pro: Good for startups
Weaknesses
- Con: Limited features
- Con: No inventory management
Key features
Plans and prices: Coconut vs Wave
| Tool | Plans and prices | Source |
|---|---|---|
| Coconut |
| getcoconut.com/pricing read Oct 19, 2026 |
| Wave |
| waveapps.com/pricing read Nov 1, 2026 |
Prices as read on each vendor's own pricing page on the date shown. Plans are listed per tool and are not matched against the other tool's plans: a plan name or price in one column says nothing about the same row in the other. Details on Coconut pricing and Wave pricing.
Key Takeaways
Coconut
- Choose if you want effortless accounting and tax management for self-employed individuals and landlords
Wave
- Has a free plan
What the data shows
On the data below, Wave leads on a free plan. We do not name an overall winner for this pair.
- User ratings are within 0.2 points (4.4/5 from 756 reviews for Coconut, 4.3/5 from 2,059 reviews for Wave).
- Entry prices are not ranked, they are charged on different bases: Coconut $10.42/mo, billed yearly; Wave $19/mo flat, billed monthly.
- Only Wave has a free plan.
Criteria: user rating (only above 20 reviews on both sides, gap of 0.2 or more), entry price (only on the same billing basis), free plan. How we rate
Frequently Asked Questions
How do Coconut and Wave compare in 2026?
On the data below, Wave leads on a free plan. We do not name an overall winner for this pair. User ratings are within 0.2 points (4.4/5 from 756 reviews for Coconut, 4.3/5 from 2,059 reviews for Wave). Entry prices are not ranked, they are charged on different bases: Coconut $10.42/mo, billed yearly; Wave $19/mo flat, billed monthly. Only Wave has a free plan.
What are Coconut and Wave used for?
Coconut: Effortless accounting and tax management for self-employed individuals and landlords. Wave: Free accounting, invoicing, and receipt scanning for small businesses.
What does Coconut cost vs Wave?
Coconut's cheapest paid plan is Essentials at $10.42/mo, billed yearly. Wave's cheapest paid plan is Pro at $19/mo flat, billed monthly; it also has a free plan. Prices read on the vendors' pricing pages, latest check Nov 1, 2026.
What's the main difference between Coconut and Wave?
Coconut's main strength: HMRC-recognised and compliant for MTD for Income Tax. Wave's main strength: core features free.