Lexware vs Wave
Last updated October 2026
Looking for a European alternative to Wave? Here's how Lexware compares, on EU hosting, GDPR and what it does.
Our pick for a European buyer: Lexware. We weight data residency, GDPR and EU jurisdiction above everything else — that is the constraint this directory exists to solve.
What it is
German accounting and invoicing with DATEV integration
Free accounting, invoicing, and receipt scanning for small businesses.
Headquarters
🇩🇪 DE
🇨🇦 CA · 2010
EU data residency
Yes, for all customers
Not offered
DSGVO / GDPR
Yes
Yes
Certifications
No
No
Price from
€7.90/mo
$16/mo
Free plan
No
Yes
Open Source
No
No
Integrations
Super, HubSpot, Integrately, Pipey
Shopify, Etsy, PayPal, Stripe, Square +1
Where each one wins
Lexware
Wave
Strengths
- +User-friendly interface for non-accountants
- +Free plan covers essential features
- +Good mobile app experience
- +Reliable customer support
Limitations
- −Limited advanced accounting features
- −No EU data residency
- −Payroll only available in certain regions
- −Ads in free plan
Data residency & compliance
Lexware
Wave
EU data residency
Yes, for all customers
Not offered
Transfer mechanism
Not required — data stays in the EU
not established
Certifications
No
No
Pricing
Lexware
- Starter €7.90/month per monthBasic invoicing · Expense tracking · Limited integrations
Pricing may vary based on features and user count. Free trial available.
Wave
- Free Free ForeverUnlimited invoices and estimates · Unlimited expense tracking · Unlimited receipt scanning
- Pro $16 MonthlyAll Free features · Unlimited credit card and bank connections · Automated expense categorization
- Payroll $40 MonthlyFull-service payroll · Tax calculations and filings · Direct deposit
- Advisors On request MonthlyAccess to bookkeeping and accounting coaches · On-demand support · Customized advice
Payroll and Advisors plans require a base fee plus an additional per-employee or per-contractor fee.
Features
Lexware
- Invoicing & Billing
- Automated invoice creation, Customizable invoice templates, Recurring invoices, Multi-currency support
- Expense Management
- Receipt scanning with OCR, Automated category suggestion, Expense tracking, Digital receipt storage
- Accounting & Reporting
- Double-entry accounting, Financial reports, Balance sheets, Profit & loss statements
- Integrations & Automation
- API access for custom integrations, Automated workflows, Third-party app connections
Wave
- Accounting
- Track income and expenses, Manage multiple businesses, Generate financial reports, Bank reconciliation
- Invoicing
- Create and send professional invoices, Automate recurring invoices, Track invoice status, Accept credit card payments
- Receipts
- Scan and upload receipts, Match receipts to transactions, Store receipts digitally, Export receipt data
- Payroll
- Calculate payroll taxes, Direct deposit for employees, Generate pay stubs, Track employee hours