Looking for a Wave alternative?
In June 2026, Wave moved more businesses onto its free Starter plan, which doesn't include automatic bank imports. Here's what changed, what your options are, and how Spark Books compares.
What changed at Wave
From Wave’s own help centre and pricing page, checked in October 2026.
Two plans since 2024
Wave introduced its free Starter plan and paid Pro plan in Canada on January 29, 2024. Businesses created before then were called Legacy businesses and kept their old features for a time.
June 1, 2026
Legacy businesses that weren't using Wave's payments, payroll or another paid Wave service were moved to the Starter plan. Wave emailed affected businesses on April 30, 2026.
What Starter keeps
Invoices, estimates and bills, the option to accept online payments, manual upload of bank statements, categorizing transactions, reconciling accounts, reports and the mobile app.
What now needs Pro
Bank connections that import transactions automatically, and sharing your business with other users. Wave says it is re-aligning its free plan to its core manual features.
Your options
- Stay on Wave Starter. It’s free. You upload statements and categorize each transaction yourself.
- Upgrade to Wave Pro. As of October 2026 it’s CA$25 a month or CA$250 a year, and it brings back automatic bank imports and categorizing, through Plaid. Wave notes that not every financial institution is supported.
- Switch to Spark Books. Free. You upload statements, as you would on Starter, and Spark sorts each transaction for you, splits out the GST/HST and asks you only about the ones it can’t tell.
Side by side
| Spark Books (free) | Wave Starter (free) | Wave Pro (paid) | |
|---|---|---|---|
| Price | $0, no card | $0 | CA$25 a month or CA$250 a year |
| Getting transactions in | Upload statements (CSV, OFX/QFX/QBO, PDF) | Manually upload bank statements | Auto-import through a bank connection |
| Sorting transactions | AI sorts each one, asks when unsure | You categorize | Auto-merge and categorize |
| GST/HST | Return figures, regular or quick method, with due dates | See Wave's site | See Wave's site |
| Receipts | Photo, read and matched to the transaction | Paid add-on | Unlimited receipt capture |
| Invoices | Yes | Unlimited | Unlimited |
| Someone to do it for you | Spark bookkeeper, $350 a month | Wave Advisors, paid | Wave Advisors, paid |
Wave details are from waveapps.com and Wave’s help centre as of October 2026. Wave’s Canadian receipts add-on was CA$11 a month or CA$96 a year. “See Wave’s site” means we didn’t confirm the detail there, not that it’s missing.
What Spark doesn’t do
Spark doesn’t connect to your bank yet, run payroll, track inventory or connect to other apps. It works out your GST/HST figures, but you or your accountant file them with the CRA. It isn’t available in Quebec yet. Everything it does do is on the Spark Books page.
Questions
- What changed on Wave's free plan?
- On June 1, 2026, Wave moved Legacy businesses that weren't using its payments, payroll or another paid service to the free Starter plan. On Starter you can still upload bank statements, categorize transactions, reconcile and run reports, but importing transactions through a bank connection and adding other users need the paid Pro plan.
- How much is Wave Pro in Canada?
- As of October 2026, Wave's Pro plan is CA$25 a month billed monthly, or CA$250 a year billed annually. Wave says there's no free trial for Pro.
- Is Spark Books a good Wave alternative?
- If what you want is your transactions sorted for you without paying, yes. Spark sorts each transaction into a Canadian chart of accounts with GST/HST split out, and asks you about the ones it can't tell, for free. Like Wave's Starter plan, Spark doesn't connect to your bank yet: you upload statements from your bank's website.
- Does Spark Books connect to my bank?
- Not yet. You download your statements from your bank's website and upload them, which takes a few minutes a month. Spark reads exports from RBC, TD, BMO, Scotiabank, CIBC, National Bank, Tangerine and Amex. Uploading the same statement twice never counts anything twice.
- Can I move my Wave books to Spark?
- Spark's import is built for QuickBooks and Xero exports, so there's no one-click move from Wave. Pick a start date, such as the start of your fiscal year, and upload your statements from that date. Keep your Wave reports for anything before it.
More comparisons
Free software
- Spark BooksEverything Spark Books does, and the two plans.
- Free bookkeeping software in CanadaWhat's actually free, and the catch with each.
- Free accounting software in CanadaWhat it has to do for the CRA, and when you still need an accountant.
- AI bookkeepingWhat it gets right, what it gets wrong, and why Spark asks.
Switching from
- A free QuickBooks alternativeWhat Spark does and doesn't do next to QuickBooks Online.
- A free Xero alternativeHow Spark compares with Xero for a Canadian business.
- A free FreshBooks alternativeFreshBooks' Canadian plans next to Spark Books.
Head to head
- QuickBooks Online vs XeroPlans, prices, GST/HST and payroll in Canada.
- Wave vs QuickBooks OnlineFree with manual work, or paid with a bank feed.
Wave is a trademark of its owner. Spark Finance isn’t affiliated with or endorsed by Wave.
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