Wave is a capable general accounting product with a free Starter plan. Accountly is a paid, narrower product organized around the Canadian sole proprietor’s T2125 workflow. The better fit depends mainly on whether you need bank feeds and full accounting or direct tax-category organization and built-in mileage.
Last reviewed: September 20, 2026. Confirm current features and pricing before purchasing.
Wave’s current Canadian plans
Wave’s official pricing page lists:
- Starter: $0, including unlimited estimates, invoices, bills, and bookkeeping records.
- Pro: $25 CAD monthly or $250 CAD annually per business, including automatic bank imports, transaction merging and categorization, receipt capture, and payment-reminder automation.
- Receipts add-on: $11 CAD monthly or $96 CAD annually for Starter users who want receipt scanning without Pro.
Wave does not advertise native mileage tracking, but it offers a Driversnote integration. Calling Wave’s mileage support simply “No” is therefore too broad.
Feature comparison
| Feature | Wave | Accountly |
|---|---|---|
| Starting price | Starter is $0 | $8 CAD/month billed annually |
| Paid plan | Pro is $25 CAD/month | One paid plan after a 30-day trial |
| Bank feeds | Pro | No |
| Receipt scanning | Pro or paid add-on | Included |
| Invoicing | Yes | Yes |
| Mileage | Driversnote integration | Built-in automatic mobile tracking |
| T2125 categories | General chart of accounts | Built in |
| Payroll | Paid Wave service | No |
| Accountant access | Available | Invite an accountant |
Choose Wave when
- A free accounting and invoicing plan is the priority.
- You want conventional bookkeeping records and financial statements.
- You need automatic bank imports and are willing to pay for Pro.
- You use payroll or other Wave services.
Choose Accountly when
- You want income and expenses organized directly into T2125 categories.
- Built-in background mileage tracking matters.
- Receipt capture and accountant access should be included in one plan.
- You can work without bank feeds or payroll.
Accountly records GST/HST amounts and prepares reports, but it does not determine the registration date, file a GST/HST return, or send a threshold alert.
See Accountly’s receipt capture, mileage tracking, and T2125 reports. If those features matter more than bank feeds, start the 30-day trial.
Frequently asked questions
Is Wave still free in Canada?
Yes. Wave Starter is $0. Automatic bank imports, automatic transaction categorization, and included receipt scanning are Pro features.
How much is Wave Pro in Canada?
Wave currently lists Pro at $25 CAD monthly or $250 CAD annually per business, before applicable taxes and temporary promotions.
Does Wave track mileage?
Wave offers a Driversnote integration rather than advertising native mileage tracking. Accountly includes mileage tracking in its own mobile app.
Does Wave produce a T2125?
Wave provides accounting reports. Its official feature list does not advertise direct T2125-category output, so users or their accountants may need to map the accounts when preparing the return.
Does Accountly connect to banks?
No. Wave Pro is the stronger choice when automatic bank imports and reconciliation are required.
The information in this guide is for general informational purposes only and is not intended as accounting, tax, business, or legal advice. Accountly does not provide professional services or act as your accountant, tax advisor, or lawyer. No client relationship is created by your use of this material. Always seek advice from qualified professionals who understand your particular circumstances before acting on any information contained herein.