A Wave invoicing alternative that's built around getting paid.
Wave is free accounting with invoicing inside. PayPolka is $5/month for the part Wave doesn't do: estimates clients sign online, deposit and progress billing against the estimate, and payments through your own Stripe account.
14-day refund for new accounts. Cancel anytime.
PayPolka vs. Wave at a glance
Credit where due: Wave's free Starter plan is real — unlimited invoices and estimates, no card required. If you just need to send the occasional invoice, use it. The comparison gets interesting when billing is how your business runs: staged invoicing, signatures on estimates, a portal your clients can check, and processing through your own Stripe account. Verified as of June 2026:
| PayPolka | Wave | |
|---|---|---|
| Price | $5/mo beta (locked for life), $9/mo standard — one plan | Starter free · Pro $19/mo (frequent intro promos) |
| Estimates & invoices | Unlimited | Unlimited on both plans |
| Online estimate acceptance | Public link, typed signature, timestamp + IP, terms acknowledgment | Estimates, no signature workflow |
| Deposit & progress billing | Deposit, progress, and final invoices tracked against the estimate | — |
| Card processing | Your own Stripe account, Stripe's standard rates, no markup | Wave processes: 2.9% + $0.60 per transaction |
| ACH / bank payments | Via your Stripe account, Stripe's standard ACH pricing | 1% per transaction, $1 minimum |
| Branding, reminders, reports | Included | Pro plan ($19/mo) |
| Client payment portal | Included | — |
| Bookkeeping / accounting | — (billing layer only) | Yes — double-entry, bank imports on Pro |
| Countries | US only | US & Canada |
Wave details from waveapps.com plan pages and payments fee documentation, as of June 2026. Wave is a trademark of its owner; PayPolka is not affiliated with Wave.
When Wave is the better choice
If you want free bookkeeping with invoicing attached — or you're in Canada — Wave wins, full stop. It's a genuinely good free product. Choose PayPolka when the thing you actually need is the estimate-to-paid workflow: a client signing off on the quote, a deposit before you start, progress billing that reconciles, and the money landing in your own Stripe account.
The staged-billing mechanics are on the deposit & progress invoicing page; how acceptance works is on online estimate acceptance.
What the $5 buys you over free
Built for the estimate-to-paid workflow
Wave does estimates and invoices inside an accounting suite. PayPolka is the workflow itself: clients accept estimates online with a typed signature, then you bill a deposit, progress draws, and the final balance — each invoice tracked against the estimate so the math always closes.
Your own Stripe account, no markup
Wave processes payments in-app at 2.9% + $0.60 per card transaction and 1% (minimum $1) per bank payment. PayPolka connects your own Stripe account: Stripe's standard rates, no markup, money settles directly to you — and you can pass the fee through to the client.
Branded invoices and reminders included
Wave puts logo/color branding, automatic late-payment reminders, and financial reports behind its $19/month Pro plan. PayPolka includes branded PDFs, automatic reminders, late fees, and receivables summaries in the one $5/month beta price.
A client portal and Cash App Pay
Every client gets a public portal with their invoices, balances, and payment history, and every invoice can take card, ACH, or Cash App Pay — plus cash and check you record yourself.
An estimate ready for online acceptance — the workflow Wave doesn't have.
Wave vs. PayPolka, answered.
Wave has a free plan — why pay PayPolka $5?
If your budget is zero, use Wave's Starter plan; it's genuinely free and unlimited. PayPolka's $5/month buys the workflow Wave doesn't have: online estimate acceptance with a typed signature, deposit/progress/final invoicing reconciled against the estimate, a client portal, included branding and reminders (Pro-only on Wave, $19/month), and payments through your own Stripe account instead of Wave's processor.
How do the payment fees compare?
Wave's published rates are 2.9% + $0.60 per card transaction and 1% (min $1) per ACH bank payment, processed by Wave, as of June 2026. PayPolka uses your own Stripe account at Stripe's standard published rates with no PayPolka markup, and lets you pass the processing fee through to the client.
What does Wave have that PayPolka doesn't?
Real accounting: double-entry bookkeeping, bank-transaction imports (Pro), receipts (add-on), payroll (add-on), and it's free to start. Wave also serves Canada. PayPolka is US-only and covers the billing layer only — estimates, invoices, payments, receivables, and sales-tax summaries.
Can I bill a deposit from an estimate in PayPolka?
Yes — that's the core of the product. Once the client accepts the estimate online, bill a percentage or fixed deposit, invoice progress as the work moves, and send the final balance in one click. Every stage reconciles against the original estimate.
Does PayPolka do bookkeeping like Wave?
No. PayPolka tracks what you've invoiced, collected, written off, and the sales tax involved — the summaries your accountant actually asks for — but it is not a ledger. If you need full books, pair PayPolka with QuickBooks, Xero, or a spreadsheet your accountant likes.
Is there a free trial?
No — PayPolka is pay-or-no-account at $5/month during beta, with a 14-day refund for new accounts and cancel-anytime. The beta price is locked in for life while you stay subscribed; $9/month applies only to accounts created after beta.
Free is a price. Paid-and-focused is a workflow.
Start for $5/month during beta and lock that rate in for life. Connect your own Stripe account and send your first estimate today.
14-day refund for new accounts. Cancel anytime.