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Wave Alternative Canada

Wave is free for invoices.
Your T2125 needs more.

Wave is a good free invoicing and bookkeeping tool. SnapBooks is built for one job: getting a Canadian sole proprietor's receipts, trips, invoices, and GST/HST into T2125 shape. Here is an honest look at where each one wins.

Start free - no credit card

15 receipts free · $69/yr after

What a year costs if you scan receipts

SnapBooks Solo
$69
Receipts, KM logbook, invoices
Wave Starter + receipts
$96
Free plan plus the receipts add-on
Wave Pro
$250
Adds bank import, billed yearly

All prices in CAD, before tax. If you only send invoices and never scan receipts, Wave Starter at $0 is the cheapest option. Wave figures are from its pricing page in October 2026; check waveapps.com for current prices.

Feature
SnapBooks
Wave
Price
Free plan, or $69/yr CAD
Starter $0, Pro $250/yr CAD
Receipt scanning
✓ Included in Solo
Starter: $96/yr add-on. Pro: included
Invoicing & estimates
✓
✓
Recurring invoices
✓ Pro ($99/yr)
✓
KM logbook
✓
Not listed
T2125 vehicle deduction (actuals, CCA)
✓ Calculated
Not listed
T2125 line mappings in export
✓ Excel and PDF
Not listed
GST/HST return lines (regular or Quick Method)
✓
Not listed
Bank import
CSV upload
✓ Pro (via Plaid)
Card payments on invoices
Not yet
✓ Fee per transaction
Mobile app
Web app on your phone
✓
Payroll
No
Add-on, from $25/mo

Wave details come from its pricing page in October 2026. “Not listed” means that page does not mention the feature, not that Wave cannot do it. Check waveapps.com for current details.

SnapBooks fits if you

  • File a T2125 as a sole proprietor
  • Drive for work and want the vehicle deduction worked out for you
  • Scan receipts and want them sorted into T2125 lines
  • Need your GST/HST return lines (regular or Quick Method)
  • Want to hand your accountant one clean export

Wave fits better if you

  • Only need free invoicing
  • Want bank transactions imported automatically (Pro)
  • Want clients to pay invoices by card today
  • Run payroll or have other people on the account
  • Keep full double-entry books for an incorporated business
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The deduction most Wave users work out by hand

If you drive for work, your vehicle is often your biggest T2125 deduction. SnapBooks keeps a CRA-style logbook, takes your odometer readings, and applies your business-use % to every vehicle cost, including depreciation (CCA) and the CRA cap on loan interest. Fuel and repair receipts count automatically.

Can I switch from Wave?

There is no one-click move of your Wave data, but you can bring in past transactions with a bank CSV upload. A simple way to switch:

  1. Pick a start date, such as the first day of a quarter or the new year.
  2. Add your active clients in SnapBooks.
  3. Record receipts, trips, and invoices in SnapBooks from that date.
  4. Keep your Wave account so you can look up and export earlier years.

Common questions

Is Wave free in Canada?
Wave's Starter plan is $0 and includes unlimited invoices, estimates, and bookkeeping records. Receipt capture is an add-on on Starter ($11 a month or $96 a year), and card payments have per-transaction fees. Wave Pro is $250 CAD a year billed annually and adds bank import and unlimited receipts. Prices are from Wave's pricing page in October 2026; check waveapps.com for current details.
Is SnapBooks cheaper than Wave?
It depends on what you need. If you only send invoices, Wave Starter is free and SnapBooks is not the cheaper choice. If you also scan receipts, Wave Starter plus its receipts add-on is $96 a year, and Wave Pro is $250 a year, while SnapBooks Solo is $69 a year with receipt scanning, the KM logbook, and invoicing included.
Does Wave calculate the T2125 vehicle deduction?
Wave's pricing page does not list mileage tracking or a vehicle deduction calculation. SnapBooks has a KM logbook that works out your business-use % from odometer readings and applies it to insurance, loan interest (capped at the CRA limit), fuel, maintenance, registration, and capital cost allowance, the way T2125 Chart A asks for it.
Does SnapBooks have bank feeds like Wave Pro?
Not a live connection. Wave Pro pulls bank transactions automatically through Plaid. In SnapBooks you download a CSV from your bank (TD, RBC, CIBC, BMO, Scotiabank, Tangerine, KOHO and others) and upload it: you review each line, and anything already in your books is caught so it isn't counted twice. If a live bank connection matters most to you, Wave Pro may suit you better.
Can I accept card payments on invoices?
Wave lets you accept card payments on invoices for a per-transaction fee. SnapBooks does not take card payments on invoices yet; you can add your e-Transfer details to every invoice instead.
Who is SnapBooks for?
Canadian sole proprietors who file a T2125 on their personal return: freelancers, tradespeople, and rideshare and delivery drivers. SnapBooks does not support incorporated businesses, payroll, or teams. It is a record-keeping tool and does not file your tax return.
Can I try SnapBooks before paying?
Yes. The free plan includes 15 receipts a month, the KM logbook, and 3 invoices a month, with no credit card required.

Try it alongside Wave

Start free. No credit card. 15 receipts, the KM logbook, and 3 invoices a month included.

Try SnapBooks free

See full pricing · FreshBooks comparison · QuickBooks comparison

Sources and further reading

Tax rules change. Check canada.ca for the current rules before you file.

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