Bonsai vs Wave

Bonsai (often called Hello Bonsai after its domain) is an all-in-one business management app for freelancers, consultants and small client-service agencies. Instead of stitching together a proposal tool, an e-signature service, a time tracker and an invoicing app, Bonsai covers the whole client lifecycle in one place: win the work, sign the contract, deliver the project, bill and get paid.

The product starts with a lightweight CRM and proposal builder, then turns accepted proposals into contracts with legally reviewed templates and built-in e-signatures. Projects, tasks and a time tracker feed directly into invoices, which clients can pay online by card or bank transfer, with automatic reminders and recurring billing for retainers. A client portal collects files, invoices and messages in one branded space, and higher plans add scheduling, expense tracking, basic bookkeeping and team members. Pricing is per user per month across several tiers (Basic, Essentials, Premium and Elite), with discounts for annual billing; invoicing, contracts and the client portal start from Essentials.

Bonsai is best for solo professionals and agencies of a few people who want professional paperwork without administrative overhead. Its breadth means each module is simpler than a specialist: accounting is basic compared with QuickBooks or Xero, and project management is lighter than Asana. HoneyBook is the closest competitor, particularly for creative businesses in the US, while Moxie and Dubsado offer similar bundles with more workflow automation. Larger agencies that need resource planning and utilization reports should look at professional services tools such as Productive or Scoro.

Wave is a small-business financial software company from Toronto that offers free invoicing and accounting, mainly for freelancers, sole proprietors and very small businesses in the United States and Canada. It was acquired by H&R Block in 2019 and makes money from payment processing, payroll and its paid Pro plan rather than charging for basic bookkeeping.

The free Starter plan includes unlimited invoices and estimates, double-entry accounting, connected bank accounts, income and expense tracking and standard reports such as profit and loss, balance sheet and sales tax. Pro adds automatic import and categorisation of bank transactions, receipt capture and automated payment reminders. Online card and bank payments on invoices are charged per transaction, and Wave Payroll is an add-on with automated tax filing in supported US states, priced per month plus a fee per employee. Most features are designed around US and Canadian banks, taxes and payment rails.

Wave fits North American freelancers and micro-businesses that want simple, free books and professional invoices. Outside the US and Canada, payments, payroll and bank connections are largely unavailable, integrations are few, inventory and multi-user workflows are basic, and fast support is a paid feature. QuickBooks Online and Xero are the standard upgrades as a business grows, FreshBooks is stronger for service-based invoicing, and Zoho Books is a good-value option with wider international support.