Wave is simple and free to start — great for basic invoicing. But its free tier is limited, the Pro plan, payments and payroll are paid, and it does no tax automation: no real-time set-aside, no CCA, no T2125. LQID keeps things simple and adds real Canadian tax — HST, income tax and CPP set aside the moment you're paid.
Wave is easy and free to start. LQID adds the Canadian tax automation Wave leaves out — at every tier.
| LQID | Wave | |
|---|---|---|
| Real-time tax set-aside (Safe-to-Spend) | Yes | No |
| CCA / depreciation | Real CCA — class, AII, T2125 | None |
| Tax forms (T2125, T776 rental, T5) | Built in | No |
| Canadian tax native (HST, CPP, all provinces) | Yes | Basic sales tax |
| Installment forecast & year-end projection | Yes | No |
| Pricing | Flat plans + free trial | Free starter tier, paid to scale |
| Dead-simple invoicing & expenses | Yes | Yes |
Comparison reflects LQID's tax-first focus vs Wave's tiered bookkeeping. Wave is a trademark of its owner; LQID is not affiliated.
Wave nails the basics and is an easy, low-cost way to start. LQID stays just as simple but does the Canadian tax work Wave never touches — at any tier.
Wave records your income and reports it — but never tells you how much of it is really yours. LQID strips HST, income tax and CPP off each deposit and shows your Safe-to-Spend right now.
Only LQIDWave has no depreciation or capital-asset module at all, and no T2125/T776/T5. LQID does real CCA (class, AII, half-year, disposals) and generates your Canadian tax forms.
Depreciation + forms built inInstead of a year-end surprise, LQID forecasts your quarterly installments and projects your year-end position as you go — so nothing sneaks up on you.
Looks aheadIts free starter tier is about as simple as accounting gets — an easy, low-cost way to begin. If basic invoicing and expenses are all you need for now, Wave is a fine start, and we'll say so.
Real-time tax set-aside, real CCA and Canadian tax forms, and knowing what's actually yours every day.
Import your data from Wave with the built-in CSV importers and keep going — free to start, no card.
Because Wave stops at bookkeeping. If you want your HST, income tax and CPP set aside in real time, plus real CCA and the T2125/T776/T5 forms, that's what LQID adds.
No — Wave has no capital-asset or depreciation feature. LQID does real Capital Cost Allowance (class, AII, half-year, disposals) right in your books.
Wave has a free starter tier for basic accounting, but the Pro plan, payments and payroll are paid — so costs climb as you scale. LQID is paid but built tax-first, and you can try the free tax tools without signing up.
Yes — import your income and expenses with the built-in CSV importers and pick up where you left off.
Free to start, no card. Import from Wave in minutes — or try the free tools first.
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