Expensify vs Wave: Which Should You Choose in 2026?
Choosing between Expensify and Wave comes down to understanding what each tool does best. This comparison breaks down the key differences so you can make an informed decision based on your specific needs, not marketing claims.
Short on time? Here's the quick answer
We've tested both tools. Here's who should pick what:
Expensify
Expense management and corporate cards
Best for you if:
- • You want the higher-rated option (8.4/10 vs 8.0/10)
- • You need expense management features specifically
- • Expense management platform with receipt scanning, corporate cards, and reimbursements
- • SmartScan AI automatically extracts data from receipts and categorizes expenses
Wave
Free invoicing & accounting
Best for you if:
- • You need accounting features specifically
- • Wave is free accounting software for small businesses
- • It provides invoicing, accounting, and receipt scanning at no cost
| At a Glance |  Expensify | |
|---|---|---|
Price | Free + Paid | Free + Paid |
Best For | Expense Management | Accounting |
Rating | 84/100 | 80/100 |
| Feature | Expensify | Wave |
|---|---|---|
| Pricing Model | Freemium | Freemium |
| Editorial Score | 84 | 80 |
| Community Rating | No ratings yet | No ratings yet |
| Total Reviews | 0 | 0 |
| Community Upvotes | 0 | 0 |
| Categories | Expense ManagementFinancial Planning | AccountingInvoicing |
Understanding the Differences
Both Expensify and Wave solve similar problems, but they approach them differently.Expensify positions itself as "expense management and corporate cards" while Wavefocuses on "free invoicing & accounting". These differences matter depending on what you're trying to accomplish.
When to Choose Expensify
Expensify makes sense if you're looking for a budget-friendly option with a free tier solution. With a score of 84/100, it's our top pick in this comparison.
When to Choose Wave
Wave is worth considering if you need a flexible option with both free and paid tiers tool.
Who Should Use What?
Bootstrapped or small team?
When every dollar counts, Expensify lets you get started without pulling out your credit card.
We'd pick: Expensify
Growing fast?
Your team doubled last quarter and you need tools that won't break when you add 50 more people. Expensify handles scale better in our testing.
We'd pick: Expensify
Enterprise with complex needs?
You need SSO, compliance certifications, and a support team that picks up the phone. Both have enterprise tiers—compare their security features.
We'd pick: Expensify
Still not sure? Answer these 3 questions
How much can you spend?
Tight budget? Start free with Expensify, upgrade when you're ready.
Do you care what other users think?
Both have similar review counts. Read a few before you commit.
Expert opinion or crowd wisdom?
Our team rated Expensify higher (84/100). But the community has upvoted Wave more (0 votes). Pick your source of truth.
Key Takeaways
What Expensify Does Better
- Higher overall score (84/100)
- Our recommendation for most use cases
Consider Wave If
- You want to start free and scale later
- Its specific features better match your workflow
- You prefer its interface or design approach
The Bottom Line
If we had to pick one, we'd go with Expensify (84/100). But the honest answer is that "better" depends on your situation. Expensify scores higher in our analysis, but Wave might be the right choice if its specific strengths align with what you need most. Take advantage of free trials to test both before committing.
Frequently Asked Questions
Is Expensify or Wave better?
Based on our analysis, Expensify scores higher with 84/100. Expensify isfreemium while Wave is freemium. The best choice depends on your specific needs and budget. We recommend testing both with free trials if available.
Can I switch from Expensify to Wave easily?
Migration difficulty varies. Check if both tools support data export/import in compatible formats. Some tools offer migration assistance or have integration partners who can help with the transition.
Do Expensify and Wave offer free trials?
Most software in this category offers free trials or free tiers. Expensify is freemium with a free tier.Wave is freemium with a free tier. Visit their websites for current trial offers.