Comparison
AllMy Ledger vs Wave
Wave is free, but free has limits. If you've been hitting Wave's walls (limited reports, cloud-only, features moving behind a paywall), AllMy Ledger gives you everything at one price with no compromises.
What's happening with Wave?
Wave was acquired by H&R Block in 2019. Since then, features that were once free, like automatic bank imports, have moved to Wave Pro at $16/month. The free tier keeps shrinking.
Wave is also cloud-only. Your financial data lives on their servers. If Wave changes their terms, raises prices, or shuts down, your data goes with it.
With AllMy Ledger you pay once, get everything, and keep your data on your own machine. No ads or upsells.
3-year cost comparison
AllMy Ledger
$149 $199
Software only — works forever
(or $247$297 with optional $49/yr service contract)
Wave Pro
$576
$16/month × 36 months
Free tier: limited features, ads
Feature comparison
| AllMy Ledger | Wave | |
|---|---|---|
| Pricing | $149 once $199 once | Free / $16/mo Pro |
| Platform & Data | ||
| Desktop app | ✓ | ✗ |
| Works offline | ✓ | ✗ |
| Data on your computer | ✓ | ✗ |
| Windows | ✓ | Web only |
| macOS | ✓ | Web only |
| Linux | ✓ | ✗ |
| Accounting | ||
| Double-entry bookkeeping | ✓ | Limited |
| Cash + accrual toggle | ✓ | ✗ |
| Simple Mode (plain language) | ✓ | ✗ |
| Invoicing | ✓ | ✓ |
| Estimates & quotes | ✓ | ✓ |
| Credit memos & vendor credits | ✓ | ✗ |
| Email invoices from app | ✓ | ✓ |
| Multi-currency | ✓ | ✓ |
| Period locking | ✓ | ✗ |
| Recurring transactions | ✓ | ✗ |
| Bank reconciliation | ✓ | ✓ |
| Split transactions | ✓ | ✗ |
| Reports & Tax | ||
| Number of reports | 12 | 8 |
| Profit & Loss | ✓ | ✓ |
| Balance Sheet | ✓ | ✓ |
| Cash Flow Statement | ✓ | ✗ |
| Schedule C tax report | ✓ | ✗ |
| 1099 contractor tracking | ✓ | ✗ |
| W-9/W-8 form management | ✓ | ✗ |
| Customer statements | ✓ | ✗ |
| AR/AP aging reports | ✓ | ✗ |
| Export as PDF/CSV/XLSX | ✓ | CSV/PDF |
| Other | ||
| File attachments | ✓ | ✗ |
| Auto-backup | ✓ | Cloud |
Why choose AllMy Ledger over Wave
Schedule C tax report
Map accounts to Schedule C tax lines and generate the report at tax time. Wave doesn't have this.
12 professional reports
P&L, Balance Sheet, Cash Flow Statement, AR/AP Aging, 1099 Summary, and more. Wave only offers 8 basic reports.
All features included
No free-vs-Pro split. Every feature works from day one, and nothing gets moved behind a paywall later.
Your data, your computer
Your books stay on your machine. No cloud dependency, no third-party access to your financial data.
Works without internet
Wave needs an internet connection for everything. AllMy Ledger works anywhere: airplane, cabin, bad Wi-Fi.
No corporate owner surprises
Wave is owned by H&R Block and features keep moving to paid tiers. AllMy Ledger's price and features are locked in when you buy.
When Wave makes more sense
Wave is the better pick if you need one of these:
Zero budget: If you can't spend on a one-time purchase right now, Wave's free tier covers the basics. Expect to hit limits as you grow.
Online payments: Wave accepts credit card and bank payments through invoices. AllMy doesn't process payments yet.
Direct bank feeds: Wave Pro ($16/month) connects to your bank directly. AllMy imports OFX/QFX files manually.
Payroll: Wave has payroll as a paid add-on. AllMy doesn't do payroll.
Done with Wave's limits?
More reports, offline access, and data privacy. $149 through April 30, then $199.$199 once. All features included.
7-day trial · No credit card · Windows, macOS & Linux