The honest one-line answer
If you want your invoicing and your books in one place under a login, use Wave; the free tier is real. If you want an invoice in the next two minutes with no account at all, that is this site.
Side by side
| What | InvoiceTools | Wave |
|---|
| Price | Free, every tool | Starter plan free with unlimited invoices; Pro was $19 a month when checked |
| Account needed | No. Optional account adds saved clients and sending | Yes, and new signups are US and Canada only |
| Invoice limit | None | None on either plan |
| Watermark | Never | Wave branding on Starter documents; removing it is a Pro feature |
| Accounting and reports | No, invoicing and calculators only | Yes, real double entry bookkeeping free |
| Card payments built in | No. Add your own payment link | Yes, card and bank payments with per transaction fees |
| Recurring billing | Recurring invoice generator writes the documents; no auto charging | Yes, recurring invoices with automatic card charging |
| Where your data lives | In your browser unless you open an account | In your Wave account |
| Templates | 102 designs plus Word, Excel and PDF downloads | A small set of invoice themes |
| Works outside the US and Canada | Yes, anywhere the browser goes | New accounts limited to the US and Canada |
Compared on 29 August 2026. Wave plan facts from waveapps.com pricing, checked against multiple current sources: their current pricing has the live numbers.
Where Wave is the better pick
Credit where due: Wave is the most generous free accounting product in North America. Unlimited invoices, estimates and real double entry books on the free Starter plan, card and bank payments built in, recurring invoices that charge the card automatically, and payroll as an add-on. If you are in the US or Canada and want the books and the invoicing under one login, use Wave; you will not regret it.
Where this site fits
This site wins on the first two minutes and on staying out of your way: no account, no onboarding, no country restriction, no branding on your documents, and nothing you type leaves the browser. The free invoice generator loads your trade’s line items with real starting prices, the Template Studio holds 102 designs, and the payment links tool composes a pay link from the processor you already use rather than routing money through anyone.
Also weighing up Invoice Simple? The honest Invoice Simple comparison is one page over.