Compare · Last updated 2026-09-08
Claimable vs Wave
Wave's Starter tier is free and its receipt scanning is a paid add-on. A sourced comparison of what each does with the T2125, capital cost allowance and the tax you owe.
Wave describes itself as: Free invoicing and bookkeeping, with paid add-ons. Their site.
| Wave | Claimable | |
|---|---|---|
| Expenses on a numbered T2125 line | Not named on the pricing page, which describes bookkeeping records and categories and names no Canadian tax form.waveapps.com, read 2026-09-08 | Yes, applied at capture, with the 50 percent meals rule and the input tax credit taken on the way in. |
| What you owe today | Not named. No tax-owing calculation appears on the pricing page.waveapps.com, read 2026-09-08 | An estimate of federal and provincial income tax, CPP at the self-employed rate and net GST, for a sole proprietor, as one number that moves the second a receipt lands. |
| Capital cost allowance | Not named on the pricing page.waveapps.com, read 2026-09-08 | Computed: the class, the half-year rule, the undepreciated balance carried forward, and recapture or terminal loss when you dispose of the asset. |
| Receipt scanning | A paid add-on rather than a plan feature: $8 a month on Pro, $11 a month on Starter.waveapps.com, read 2026-09-08 | Included. Scanning is how the ledger gets built, so it is never the upsell. |
| Price | Starter is free. Pro is $25 CAD a month or $250 CAD a year, before the receipt-scanning add-on.waveapps.com, read 2026-09-08 | $249 CAD/yr or $24/mo. 14 days free, no card. |
Which one you should actually buy.
Pick Wave
You mostly need to send invoices and keep a clean set of books, and your return is simple enough that a category list is all you want. Free is a real advantage and Wave's free tier is genuinely usable.
Pick Claimable
You have assets to depreciate, a home office, or a GST/HST return, and you want the arithmetic done rather than the data organised.
What Claimable does not do
- No live bank feed. Receipts and income are captured, not reconciled against a bank connection.
- No double-entry ledger, no payroll, no accounts payable.
- It does not NETFILE. It produces the T2125, the CCA schedule, the GST/HST figures and the receipts behind them; you or your accountant file them.
- The iPhone app is early. Claimable runs in any browser today.
A longer read on this one: Wave Alternatives for Self-Employed Canadians.
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Pricing in this category changes often. Every figure above links to the vendor page it was read from, with the date. Check it before you buy.