BalanceMCP and Wave
This page is written by BalanceMCP, about BalanceMCP and a competitor. Every claim about Wave comes from Wave's own pricing page, read on the date below. Everything about BalanceMCP comes from its source code.
Wave is invoicing-first accounting software with a conventional interface and a free tier. BalanceMCP is a double-entry ledger with no interface, operated by an AI assistant. Neither free tier imports bank transactions automatically. If you need to send invoices, Wave is the answer and this comparison is short.
Wave is the product most people mean when they say free accounting software, and it earned that position honestly: real double-entry books, unlimited invoicing, and no charge for the basics.
One thing changed in 2026 that makes this comparison worth writing. Wave moved automatic bank transaction import to its Pro plan, so the free tier now requires manual entry — the same position BalanceMCP is in. That removes the difference that used to make this an easy decision, and leaves a more interesting one about how you want to work.
The honest summary is that these products are aimed at different jobs. Wave is built for someone who invoices customers and wants a screen to work in. BalanceMCP is built for someone who already talks to an AI assistant all day and would rather it kept the books than click through a ledger. If you invoice, stop reading — Wave, or something like it, is your answer.
Side by side
| Dimension | BalanceMCP | Wave |
|---|---|---|
| Starting cost | Free | Free (Starter plan) [1] |
| Paid tier | $9/month planned, not yet purchasable | $19/month (Pro) [1] |
| Bank transactions on the free tier | Imported by hand | Imported by hand — auto-import is a Pro feature [1] |
| Bank transactions on the paid tier | Planned, not built | Auto-imported and auto-categorized [1] |
| Interface | None. An AI assistant calls tools over MCP | Web app and mobile app |
| Invoicing | None | Unlimited invoices and estimates, on the free tier [1] |
| Payment processing | None | Optional, 2.9% + $0.60 per card transaction on Starter [1] |
| Double-entry ledger | Yes, with invariants enforced by database triggers | Yes |
| AI assistant integration | The entire interface | Not an MCP server as of the date below [1] |
| Personal and business books | Both, unlimited, with separate charts | Business-focused |
| Export | Full CSV of transactions, journal and chart of accounts | Reports and data export available |
| Bookkeeping service | None | Wave Advisors, from $149/month [1] |
Choose Wave if
- You invoice customers. Wave does unlimited invoicing on its free plan and BalanceMCP does none at all.
- You want to take card payments against those invoices.
- You want an app you can open on your phone and look at.
- You want the option of paying a person to do your books, which Wave sells and BalanceMCP does not.
- You do not use an AI assistant, or do not want your bookkeeping to depend on one.
- You want automatic bank feeds and are willing to pay for them today — Wave Pro has them and BalanceMCP has not built them.
Choose BalanceMCP if
- You already work with Claude or ChatGPT daily and would rather ask questions than navigate a ledger.
- You keep both personal and business books and do not want two products.
- You care that corrections are reversals on the record rather than edits, and that every action is logged.
- You want every report free, with no tier above you.
Sources
- Wave pricing — read 2026-08-09
Pricing and features change without notice. Anything above that matters to your decision is worth checking against the source before you rely on it.
Common questions
- Is Wave still free?
- Yes. The Starter plan is $0 and includes unlimited invoices, estimates, bills and bookkeeping records. What moved to the paid Pro plan is automatic bank transaction import and receipt capture.
- Which is cheaper?
- Both are free at the entry point. Wave's paid tier is $19 a month and exists today; BalanceMCP's planned tier is $9 a month and cannot be bought yet. Comparing paid tiers is not meaningful until ours exists.
- Can I use both?
- Nothing stops you, but keeping two sets of books in two places is how books stop agreeing with each other. Pick the one whose job matches yours.
- Does Wave work with ChatGPT or Claude?
- Not through MCP, as of the date on this page. Wave is used through its own web and mobile apps.
Last checked 2026-08-09.