Comparison

R2Sheet vs Wave

Wave is a Toronto-built free accounting platform (invoicing + receipts + books) acquired by H&R Block in 2019. Starter is free; Pro is $16 USD/mo.

Wave is full Canadian accounting (free for basic users); R2Sheet is purpose-built receipt capture into a Google Sheet you own. They're often complementary — many users do invoicing in Wave and receipt scanning in R2Sheet.

Side-by-side comparison

FeatureR2SheetWave
PriceFree 30/mo, $4.99 CAD/mo unlimitedFree Starter, $16 USD/mo Pro
AI receipt extraction✓Google Gemini 2.5 Vision (modern)Legacy OCR (recent complaints in App Store)
Output✓Live Google Sheet (you own)Wave UI / CSV export
T2125 line auto-mapping✓Yes, every category mappedNo (P&L generation; manual T2125 derivation)
HST trackingPer-receipt extraction + ITC calc✓Full HST collection + remittance reports
InvoicingNo✓Yes (free)
Bank reconciliationNo✓Yes (Pro)
Multi-user workspaces✓Yes (multi-employee per business)Limited
Country focusCanada-firstToronto-built; full HST
Recent product trajectory✓Active developmentDe-prioritizing freelancers (per recent reviews)

Choose R2Sheet if...

  • ✓You only need receipts (not invoicing or full books)
  • ✓You want a Google Sheet you own
  • ✓You want T2125 line numbers auto-mapped
  • ✓You have multiple employees uploading
  • ✓You're willing to pay $4.99/mo for modern AI extraction

Choose Wave if...

  • ✓You need invoicing for clients
  • ✓You want full HST collection + remittance reports
  • ✓You want everything free (basic Starter tier)
  • ✓You don't need T2125-line precision

Bottom line

Use both. Wave for the parts Wave does well (invoicing, full books, free); R2Sheet for the receipt-capture-to-Sheet flow Wave doesn't focus on. Total cost: still cheaper than Dext or QBO EasyStart, with better receipt capture than Wave's aging OCR.

Try R2Sheet free — 30 receipts/month, no credit card

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