Best Wave Alternative for Australian Businesses
Reviewed by the Invoicemonk editorial team
Wave is free — but its payment processing doesn't work in Australia, and it lacks ATO compliance. Here's what to use instead.
Why Wave Falls Short in Australia
Wave is excellent free invoicing software for US and Canadian businesses. But for Australian businesses, it has critical gaps:
- No payment processing — Wave's payments are US/Canada only. Australian clients can't pay via Wave.
- No ATO compliance — no ABN fields, no automatic GST at 10%, no BAS support.
- No Peppol e-invoicing — required for government suppliers in Australia.
- No multi-currency defaults — AUD alongside USD/GBP/EUR requires manual setup.
What Australian Businesses Actually Need
Australian invoicing software must handle:
- ABN display — mandatory on all tax invoices to avoid 47% withholding
- GST at 10% — auto-calculated and displayed as a separate line
- Peppol e-invoicing — for government contracts and increasingly B2B
- Multi-currency — AUD, USD, GBP, EUR for international billing
Our Recommendation: Invoicemonk
Best Wave Alternative for AustraliaInvoicemonk matches Wave's free pricing while adding everything Australian businesses need: ABN fields, 10% GST auto-calculation, Peppol e-invoicing readiness, and multi-currency support including AUD.
Why Switch from Wave
- ATO-compliant ABN & GST fields
- 10% GST auto-calculated for AUD
- Peppol e-invoicing support
- Multi-currency (AUD + international)
- Free —
Wave vs Invoicemonk
- ✗ Wave: No AU payments → ✓ Invoicemonk: Multi-currency invoicing
- ✗ Wave: No ABN fields → ✓ Invoicemonk: ABN built in
- ✗ Wave: No GST default → ✓ Invoicemonk: 10% auto-applied
- ✗ Wave: No Peppol → ✓ Invoicemonk: Peppol-ready
Ready to switch?
Get started with Invoicemonk Pro from $15/month. Upgrade, downgrade, or cancel anytime.
Pros and cons of each option
Each tool with its "best for" label, price, and the honest trade-offs.
Invoicemonk
Pro $15/moBest Wave alternative for Australian small businesses
Pros
- ATO-compliant GST invoicing with ABN fields
- Invoice in AUD and client currencies
- Unlimited invoices and clients
- Receipt scanning included
Cons
- —No time tracking
- —No payroll
- —Free plan capped at 3 invoices/month
Xero
From $20/moBest for Australian businesses that need payroll and STP
Pros
- Strong bank reconciliation
- Payroll in several countries
- Large advisor network
Cons
- —Invoice limits on the entry plan
- —Higher entry price
- —Accounting-first learning curve
Zoho Books
From $15/moBest for Australian teams inside Zoho
Pros
- Time tracking included
- Workflow automation
- Deep Zoho integrations
Cons
- —Customer caps on lower tiers
- —Per-seat pricing
- —Busier interface
Wave
Free tierOnly suitable if you invoice US or Canadian clients
Pros
- Free invoicing and accounting
- Receipt capture included
- Quick to set up
Cons
- —Payments and multi-currency limited to the US and Canada
- —No e-invoicing mandate coverage
- —Limited support on the free tier
Frequently Asked Questions
Why is Wave not ideal for Australian businesses?
Wave's payment processing doesn't work in Australia, there are no ATO compliance features, no ABN fields, and no 10% GST defaults for AUD. Australian businesses need invoicing software with local tax compliance built in.
What is the best Wave alternative for Australia?
Invoicemonk is the best free Wave alternative for Australian businesses. It matches Wave's free pricing while adding ATO-compliant fields (ABN, GST at 10%), Peppol e-invoicing support, and multi-currency for international clients.
How does Invoicemonk price compare for Australian businesses?
Invoicemonk Pro starts at $15/month with unlimited invoices, 10% GST calculation, ABN fields, multi-currency support, and expense tracking. Cancel anytime.
Ready to switch?
Get started with Invoicemonk Pro from $15/month. Upgrade, downgrade, or cancel anytime.
E-invoicing mandates supported
Invoicemonk is built for the 18 live e-invoicing mandates worldwide — coverage general invoicing tools don't offer.
18 mandates live across 5 regions:
Fatoorah Phase 2, Fatoorah Phase 1, MyInvois e-Invoicing, GST e-Invoicing (IRN + QR), Peppol BIS Billing 3.0 (B2B and B2G), FIRS Merchant-Buyer Solution (MBS) e-Invoicing, Making Tax Digital for VAT, eTIMS (Electronic Tax Invoice Management System), Certified Invoicing System (E-VAT), EIS, SARS Tax Invoice Requirements (VAT Act s.20) + e-Filing VAT201, Fiscalisation Data Management System (FDMS), VAT Act tax invoice requirements + SRC e-Filing, NF-e (Nota Fiscal Eletrônica) and NFS-e (services), Invoice Processing Platform (IPP), CRA GST/HST tax invoice + Peppol BIS Billing Canada, FatturaPA via Sistema di Interscambio (clearance), SAF-T BG reporting + B2G Peppol BIS Billing 3.0 and planned domestic e-invoicing.
ATO-Compliant Invoicing — Free
Switch from Wave to Invoicemonk. Same free price, but with GST, ABN, and Peppol support.
Get started with Invoicemonk