If you invoice a handful of clients a month, the real question is not which tool has the most features. It is which one is free or cheap at your size, and which one chases late payers for you. This comparison looks at four common options: FreshBooks, Wave, Zoho Invoice and Invoice Ninja.
All figures come from each vendor's own pricing or help pages, checked on October 20, 2026, and linked at the end. This is a research-based comparison, not a hands-on test, so we focus on what the vendors publish: price, limits and which features sit on which plan.
The short answer
| Tool | Free option | Paid plans from | Automatic late reminders |
|---|---|---|---|
| FreshBooks | Free trial only (promo pricing shown) | $23/month (Lite) | Yes, on Lite |
| Wave | Free invoicing and accounting | $19/month (Pro) | Pro only |
| Zoho Invoice | Free, described as "forever free" | Not needed for core use | Yes, listed as included |
| Invoice Ninja | Free, up to 5 clients | $14/month (Pro) | Pro only |
FreshBooks
FreshBooks
Most completePolished invoicing and accounting, but priced by billable clients.
- Lite
- $23/month, 5 billable clients
- Plus
- $43/month, 50 billable clients
- Premium
- $70/month, unlimited clients
- Extra users
- $11/month each
FreshBooks sells on three plans, and the main limit is the number of billable clients: 5, 50, or unlimited. Lite already includes recurring invoices, late fees and reminders, expense and time tracking. The page also shows a promotional 80% discount for the first four months, so check what the standard price is once the promotion ends.
What works
- Late fees and reminders included from the cheapest plan
- Time tracking, expenses and mileage in the same product
What to watch
- Lite caps you at 5 billable clients
- Extra team members cost $11/month each
Wave
Wave
Best for low budgetsFree accounting and invoicing; Pro adds automation.
- Invoicing and accounting
- Free
- Pro plan
- $19/month or $190/year (USD)
- Card fees on Pro
- 2.9% for Visa and Mastercard (first 10 transactions a month)
Wave's page says its accounting and invoicing features carry no subscription. Pro adds automatic bank imports, receipt capture, multiple users, recurring invoices and automated late-payment reminders. Online payment processing is an optional paid add-on, so you pay fees when a client pays by card, not a subscription.
What works
- Free tier covers basic invoicing and accounting
- Annual Pro works out cheaper than monthly
What to watch
- Automatic late reminders and recurring invoices need Pro
- Payment processing has per-transaction fees
Zoho Invoice
Zoho Invoice
Cheapest to startFree invoicing with reminders, with no stated invoice limit.
- Price
- Free
- Payment reminders
- Included
- Time tracking and billing
- Included
Zoho describes Zoho Invoice as free forever, with credit notes, automated payment reminders, expense recording, a customer portal and time logging for billing. The help page we read does not state limits on invoices, users or clients, so confirm those in the product before you rely on it. It works well on its own and fits especially if you may later move to other Zoho apps.
What works
- Reminders and time billing at no cost
- No limits stated on the page we read
What to watch
- Limits were not stated, so check before committing
- Less polished brand and ecosystem than the paid options
Invoice Ninja
Invoice Ninja
Best for developersOpen-source roots, a free tier, and a REST API.
- Free
- $0, up to 5 clients
- Ninja Pro
- $14/month or $140/year, unlimited clients
- Late-payment reminders
- Pro and above
The free plan covers unlimited invoicing, recurring invoices, expense tracking and a client portal, but only for up to five clients. Pro removes the client limit and adds automatic late-payment reminders, custom designs and the REST API. The pricing page links to a self-hosting option but gives no price for it.
What works
- Free tier includes recurring invoices
- API and Zapier, Make and n8n connections
What to watch
- Free tier stops at 5 clients
- Automatic reminders require Pro
Which one should you choose?
- Pick Zoho Invoice if you want free invoicing with automatic reminders and have few special needs.
- Pick Wave if you also want free bookkeeping, and you are willing to upgrade to Pro when you need automation.
- Pick FreshBooks if you want one tool for invoicing, time and accounting reports, and you are happy to pay per month.
- Pick Invoice Ninja if you are comfortable with technical tools or want an API.
How we compared
We read each vendor's published pricing and help pages on October 20, 2026. We did not run hands-on tests of every product, so this article says nothing about speed, design or support quality. Promotional prices change often, so confirm on the vendor site.
Frequently asked questions
Can I send professional invoices for free?
Yes. Zoho Invoice, Wave and Invoice Ninja all publish a free tier. Check limits: Invoice Ninja's free plan stops at 5 clients, and Wave's reminders and recurring invoices sit on Pro.
Do I need accounting software or just invoicing software?
If you only send invoices and keep a spreadsheet for expenses, invoicing software is enough. If you need to reconcile bank transactions or file taxes yourself, look at the bookkeeping options in our bookkeeping software comparison.
How do I chase late payments automatically?
See our guide to automating invoice reminders.