Method: Official documentation and pricing checked September 28, 2026. No benchmarks were run. Recommendations are based on documented features and billing, not hands-on results.
Start with the billing workflow you need: quotes, invoices, payment collection and records. A free subscription can remove a software charge, but payment processing and migration still need a budget. There is no evidence here for a fixed annual saving.
Zoho Invoice: an invoicing-focused option
Zoho Invoice is offered as free invoicing software. Its official product page documents branded invoice templates, quotes that can become invoices, project time tracking, billable expenses, payment reminders and a customer portal.
Evaluate it if those features match how your agency bills projects. Create a sample quote and invoice using fictional client data, then review the exported document and the client’s payment experience. Confirm the limits and regional payment integrations for your account before importing live records. This comparison does not claim unlimited customers, users or annual invoices because those allowances were not verified.
Wave: invoices alongside bookkeeping
Wave’s pricing page lists Starter at $0, with unlimited estimates, invoices, bills and bookkeeping records. Online payment acceptance is optional and carries transaction fees. The displayed U.S. Starter card rate is 2.9% plus $0.60, or 3.4% plus $0.60 for Amex.
Pro is listed at $19 USD/month, or $190 USD/year. Those are different billing commitments. Check country eligibility and the features you need before choosing either plan; a free invoice does not imply free card processing or automatic access to every paid automation.
Compare the actual agency workflow
| Requirement | What to verify before migrating |
|---|---|
| Fixed-fee projects | Quote approval and invoice presentation |
| Hourly projects | How time records become invoice lines |
| Reimbursable expenses | How receipts and billable expenses are retained |
| Client payments | Supported methods, fees and account eligibility |
| Records | Export format and access to historical invoices |
| Team access | Roles and the applicable account limits |
For an agency that already has accounting software, first check whether it includes adequate invoicing. Adding another system may create reconciliation work even if the new subscription costs nothing.
Estimate costs with your own numbers
As a simple fee example, one $1,000 card payment at Wave Starter’s displayed 2.9% plus $0.60 rate would incur $29.60 in processing fees, before any other applicable charges. That arithmetic is not a forecast of your account’s fees. Card type, country and payment method matter.
Compare current subscription costs, expected payment fees and the work needed to migrate open invoices. Keep an export of the old records and reconcile outstanding balances before switching. Do not assume a new tool will make clients pay earlier.
Recommendation
Shortlist Zoho Invoice when you want its documented quoting, time and invoicing workflow. Shortlist Wave when its Starter bookkeeping and invoicing features fit your business and region. Use a sample billing cycle to decide; neither recommendation promises a measured time saving or faster collections.
Sources, checked September 28, 2026: Zoho Invoice, Wave pricing.