OCTIS vs Xero vs QuickBooks vs Wave for Canadian small businesses
Canadian dollar prices per month, users, GST/HST and what costs extra.
Last checked · 4 sources
Otty's short answer
Wave is the cheapest: C$0 for core bookkeeping and C$25 per month for Pro. Xero costs C$25, C$60 or C$80 per month with no per-user fee. QuickBooks lists C$20 to C$220 per month, with 1 to 25 users by plan. Pick Wave for a solo owner, Xero for a growing team, QuickBooks if your accountant already uses it.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | Xero | QuickBooks Online | Wave |
|---|---|---|---|---|
| Entry plan, regular price | 10–30% below your current bill (terms apply) | C$25 per month (Starter) | C$20 per month (Lite) | C$0 (Starter) |
| Mid and upper plans | Not published | C$60 and C$80 per month | C$30, C$110, C$220 per month | Pro C$25 per month |
| Intro offer | Lowest Price Guarantee and 30-day money-back guarantee, terms apply | 80% off, first 3 months | 90% off, first 6 months | None on page now |
| Users | Your whole team | No per-user fee | 1 to 25 by plan | Per business, not per owner |
| Invoices on entry plan | Invoices and bills handled for you | Quotes and 20 invoices | Not stated | Unlimited |
| Multi-currency | Multi-currency business account via licensed partners | Premium only | Plus and Advanced | Not stated on page |
| GST/HST tracking | No VAT/GST in Hong Kong | Not stated on page | Yes, sales tax included | Not stated on page |
| Payroll | Handled by OCTIS accountants | Not in plans, add-on | Not in price table | Add-on, from C$25 or C$40 per month |
| Card payments | Collecting payments via licensed partners | Not stated on page | Not stated on page | 2.9% + C$0.60 each |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you want bookkeeping, CRM and workflow automation in one workspace, with a Hong Kong company run from anywhere.
Xero
Choose Xero if you have several staff or advisers logging in and want no per-user fee. Budget extra for payroll.
QuickBooks Online
Choose QuickBooks if your accountant works in it and you need CRA-ready GST/HST tracking on a plan with several users.
Wave
Choose Wave if you are a solo owner with simple, low-volume books and do not need multi-currency.
What the table does not show
Read the regular price, not the promotion
QuickBooks shows C$2 to C$22 per month on its Canada page, but that is 90% off for six months. The listed regular prices are C$20, C$30, C$110 and C$220. Xero's C$5 start price is 80% off for three months, then C$25. Wave has no such discount on its page today. Compare the regular column, because that is what you pay in year one after the offer ends.
GST/HST and the CRA
You must register for GST/HST once taxable sales go over C$30,000 in a single quarter or over four quarters, per the Canada Revenue Agency. QuickBooks states its plans track sales tax so you can file with the CRA. Xero and Wave pages we read did not state it, so check the tax settings before you commit. Registered businesses can claim input tax credits on the subscription.
Payroll and card fees are separate
None of the three includes payroll in the headline price. Xero lists payroll usage charges in its FAQ. Wave payroll is an add-on priced from C$25 or C$40 per month (the page does not say which applies to which plan), and online card payments cost 2.9% plus C$0.60 each, with identity and credit checks. Add these before you compare totals, since a business with staff may pay more than the plan price.
Where OCTIS fits
OCTIS does not sell accounting software or work in Canada. If you run a Malaysian or Hong Kong company with a Canadian subsidiary, you still need the home company's books, tax and audit coordination done. OCTIS can reconcile the subsidiary's statements, from any of these tools, into your group figures. Ask about 10 to 30% off your current bill.
Frequently asked questions
Is Xero or QuickBooks better in Canada?
Xero has no per-user fee and lists C$25, C$60 and C$80 per month. QuickBooks lists C$20 to C$220 with 1 to 25 users and states GST/HST tracking. Choose on team size and which one your accountant uses.
Is Wave still free in Canada?
Wave's Starter plan is C$0 for invoices, estimates, bills and bookkeeping records. Pro is C$25 per month billed monthly. Card payments, payroll and receipts are paid add-ons.
Which accounting software handles GST/HST?
QuickBooks states on its Canada pricing page that plans track sales tax for CRA filing. For Xero and Wave, confirm tax settings in a trial. The CRA rule is the same either way: register above C$30,000 of taxable sales.
Which has multi-currency for a Canadian exporter?
Xero offers it on Premium only (C$80 per month). QuickBooks includes it on Plus (C$110 listed) and Advanced. Wave's page did not state it.
Sources
Checked on the date above. Links open the provider's or regulator's own page.