Deputy vs Wave: The Accounting & Finance Buyer's Guide for 2026
Thinking of switching from Deputy to Wave (or vice versa)? This comparison covers features, costs, and migration considerations to help mid-market Australian businesses make an informed decision.
Feature Comparison
Side-by-side feature ratings for Deputy and Wave.
| Feature | Deputy | Wave | Notes |
|---|---|---|---|
| Invoicing | Both Deputy and Wave offer comparable invoicing capabilities. | ||
| Expense tracking | When it comes to expense tracking, Deputy pulls clearly ahead of Wave — a factor worth weighing if this capability is important to your team. | ||
| Bank reconciliation | For Hospitality & Tourism that rely on strong bank reconciliation, Wave is the more capable option in our assessment. | ||
| Payroll | When it comes to payroll, Deputy pulls clearly ahead of Wave — a factor worth weighing if this capability is important to your team. | ||
| Tax reporting and BAS | For tax reporting and bas, both platforms deliver a similar experience — neither has a clear advantage. | ||
| Multi-currency support | For multi-currency support, both platforms deliver a similar experience — neither has a clear advantage. | ||
| Inventory management | For Hospitality & Tourism that rely on strong inventory management, Deputy is the more capable option in our assessment. | ||
| Project accounting | Wave significantly outperforms Deputy on project accounting, making it the stronger choice for businesses that prioritise this area. | ||
| Budgeting and forecasting | For Hospitality & Tourism that rely on strong budgeting and forecasting, Wave is the more capable option in our assessment. | ||
| API and integrations | Wave has a notable advantage in api and integrations. | ||
| Ease of setup | Deputy has a notable advantage in ease of setup. | ||
| Value for money | Deputy has a notable advantage in value for money. |
Invoicing
Deputy
Wave
Both Deputy and Wave offer comparable invoicing capabilities.
Expense tracking
Deputy
Wave
When it comes to expense tracking, Deputy pulls clearly ahead of Wave — a factor worth weighing if this capability is important to your team.
Bank reconciliation
Deputy
Wave
For Hospitality & Tourism that rely on strong bank reconciliation, Wave is the more capable option in our assessment.
Payroll
Deputy
Wave
When it comes to payroll, Deputy pulls clearly ahead of Wave — a factor worth weighing if this capability is important to your team.
Tax reporting and BAS
Deputy
Wave
For tax reporting and bas, both platforms deliver a similar experience — neither has a clear advantage.
Multi-currency support
Deputy
Wave
For multi-currency support, both platforms deliver a similar experience — neither has a clear advantage.
Inventory management
Deputy
Wave
For Hospitality & Tourism that rely on strong inventory management, Deputy is the more capable option in our assessment.
Project accounting
Deputy
Wave
Wave significantly outperforms Deputy on project accounting, making it the stronger choice for businesses that prioritise this area.
Budgeting and forecasting
Deputy
Wave
For Hospitality & Tourism that rely on strong budgeting and forecasting, Wave is the more capable option in our assessment.
API and integrations
Deputy
Wave
Wave has a notable advantage in api and integrations.
Ease of setup
Deputy
Wave
Deputy has a notable advantage in ease of setup.
Value for money
Deputy
Wave
Deputy has a notable advantage in value for money.
Pricing Comparison
General pricing information for each platform.
Deputy
From ~$6/user/month
Pricing is indicative only and subject to change. We recommend contacting the vendor for a tailored quote based on your Australian business needs.
Wave
Free for invoicing and accounting
Prices shown are approximate and may differ based on your plan, team size, and billing cycle. Verify directly with the vendor for current AUD rates.
Pros & Cons
An honest look at the strengths and limitations of each platform.
Deputy
Pros
- Regular platform updates and improvements
- Extensive integration ecosystem with 30+ connectors
- Australian tax compliance built in
- Streamlines BAS and financial reporting
- Solid feature set for its price point
Cons
- Add-on costs for advanced features
- Bank feed reliability varies by institution
- May not suit every workflow without customisation
- Support response times vary by plan tier
Wave
Pros
- Regular platform updates and improvements
- Solid feature set for its price point
- Mobile-friendly interface
- Australian tax compliance built in
- Extensive integration ecosystem with 30+ connectors
Cons
- May require accounting knowledge to configure properly
- Add-on costs for advanced features
- Bank feed reliability varies by institution
- Onboarding documentation could be more comprehensive
Best For
Which tool suits which use case.
Choose Deputy if you need
- ✓ Teams needing extensive third-party integrations
- ✓ Real-time data sync across platforms
- ✓ Financial reporting
- ✓ Hospitality & Tourism businesses
- ✓ Moderate data needs (employees, shifts)
Choose Wave if you need
- ✓ Teams needing extensive third-party integrations
- ✓ Education organisations
- ✓ Financial reporting
- ✓ Professional Services businesses
- ✓ Complex data models (invoices, customers, payments and more)
Expert Verdict
Our Harvard-educated consultants' take on this comparison.
Clever Ops Recommendation
After comparing Deputy and Wave across dozens of implementations, we have found that the best choice always comes down to context. Your industry, team size, existing tools, and growth plans all play a role. Clever Ops provides vendor-neutral guidance — we do not earn commissions from either platform — so our recommendation is always based on what will work best for your business.
Migration Notes
What to know about switching between Deputy and Wave.
Migrating Between Deputy and Wave
Clever Ops takes a low-risk approach to migrating between Deputy and Wave. We run both systems in parallel during the transition, transferring your core data in stages and verifying data at each step. Your team continues working in the existing system until the new one is fully validated. The process typically takes 4-8 weeks, followed by 3 months of hands-on support.
Deputy vs Wave FAQ
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