Karchu vs Wave
Wave is a free accounting tool aimed at freelancers and micro-businesses, funded by paid payments and payroll add-ons. Karchu is a paid, focused bank statement analyzer. If you need free invoicing and light bookkeeping, Wave is a solid starting point. If you're drowning in statement files and need repeatable categorization, Karchu is the faster path.
Feature comparison
| Feature | Karchu | Wave |
|---|---|---|
| PDF bank statement import | Yes | No |
| OCR for scanned statements | Yes | No |
| CSV import | Yes | Yes |
| Live bank feeds | No | Yes |
| Rule-based categorization | Yes | Partial |
| Invoicing | No | Yes |
| Team workspaces | Yes | No |
| Multi-organization | Yes | Yes |
| Starting price | Free trial, then $9/mo | Free (paid add-ons) |
| Best for | Statement analysis | Solo invoicing + light books |
When Wave is the better fit
- You mainly need free invoicing and basic bookkeeping as a solo operator.
- You want ACH or card payments processed from the same tool.
- Your transaction volume is low and you don't need advanced categorization.
When Karchu is the better fit
- You have PDF or scanned statements Wave can't parse.
- You need consistent categorization across dozens or hundreds of statements.
- You want a shared workspace with roles for teammates or your accountant.
- You run multiple organizations and want to keep the books cleanly separated.
Frequently asked
Is Wave really free?
The core bookkeeping and invoicing features are free; payments processing, payroll, and premium support are paid add-ons.
Can I move data from Wave to Karchu?
Yes. Export your transactions from Wave as CSV and upload them into Karchu - the parser handles common export formats.
Does Wave support PDF bank statements?
Not natively. Most Wave users convert PDFs to CSV using a third-party tool first - a job Karchu does end to end.
Which is better for a growing team?
Karchu. Wave's workspace model is single-user oriented; Karchu supports multiple members with granular roles.
Popular bank statement analyzers
Bring a real statement to see how Karchu handles it. These bank pages walk through export steps and quirks for the most searched banks in this comparison's market.
- Chase statement analyzer
Export and analyze Chase PDF, CSV, and Excel statements.
- Wells Fargo statement analyzer
Export and analyze Wells Fargo PDF, CSV, and Excel statements.
- Bank of America statement analyzer
Export and analyze Bank of America PDF, CSV, and Excel statements.
- Citibank statement analyzer
Export and analyze Citibank PDF, CSV, and Excel statements.
- Capital One statement analyzer
Export and analyze Capital One PDF, CSV, and Excel statements.
- TD Bank statement analyzer
Export and analyze TD Bank PDF, CSV, and Excel statements.
See Karchu on your own statement
30-day free trial. No credit card. Upload a CSV, Excel, or PDF and get categorized results in minutes.