Invoice Koi vs Square Invoices
Free is never the whole price.
Square Invoices gives away invoicing with no cap, and the rest of the app is $49 a month for Plus, per location. Invoice Koi is about US$8.33 a month, billed yearly, with every feature on one plan.
Last checked 7 October 2026. US list prices.
On Google Play now. Coming soon to iPhone. Have the app? Open it
Square Invoices or Invoice Koi?
The invoice is free because the payment is not.
Choose Square Invoices if
- You already use Square for taking cards on site and want to keep that setup.
- You want clients to pay by ACH bank transfer as well as by card.
- You already run a Square terminal.
Choose Invoice Koi if
- You are paid mostly by bank transfer and cash, so a card rate is not what you are buying.
- You want receipts, expenses and time in the same app as the invoice.
- You want the whole year's books on the phone rather than in an account.
What Square Invoices is good at
Square Invoices is free and the payments are the best on this list. Tap to Pay on the phone you already have, a link the client opens, contracts and milestone payments, from a company whose entire business is taking payments.
The catch
That is the business. Square charges nothing for the invoice because the card rate is where the money is, and the parts that are not payments are thin: no expense tracking, no receipt scanning, no time tracking.
The ten rows that decide it
Switch between the free plans and the cheapest paid plans.
All 59 features, and the tier each one sits in
A paid tier includes its own free tier, so a mark means available at that price or below. Of the 59, 4 are better here, 4 better in Square Invoices, 14 tied, and 37 neither, or not stated.
| Feature | Invoice Koisubscription | Square Invoicesfree, no invoice cap | Who has it |
|---|---|---|---|
| Documents | |||
| Invoices | ○ | ● | Tied |
| Estimates or quotes | ○ | ● | Tied |
| Clients | ○ | · | Not stated |
| Turn an estimate into an invoice | ○ | ● | Tied |
| Recurring invoices | ○ | ● | Tied |
| Credit notes | ○ | · | Not stated |
| Work orders | – | · | Not stated |
| Change orders | – | · | Not stated |
| Client contracts | – | ● | Them |
| Document or project templates | ○ | ○ | Tied |
| Price book of saved items | ○ | · | Not stated |
| How the document looks | |||
| Your logo on the document | ○ | · | Not stated |
| Your brand or accent color | ○ | · | Not stated |
| Choice of templates | ○ | ○ | Tied |
| Invoices free of vendor branding | ○ | ● | Tied |
| Rename the field labels | ○ | · | Not stated |
| Photos and attachments | ○ | · | Not stated |
| Terms and conditions block | ○ | · | Not stated |
| License and insurance details | – | · | Not stated |
| Your own signature | ○ | · | Not stated |
| Client e-signature | ○ | · | Not stated |
| Getting paid | |||
| Accept card payments | ○ | 3.3% + 30c | Tied |
| Bank transfer or ACH | – | 1%, $1 min | Them |
| Tap to Pay in person | – | 2.6% + 10c | Them |
| Deposits or milestone payments | ○ | ○ | Tied |
| Record partial payments | ○ | · | Not stated |
| Pass processing fees to the client | – | · | Not stated |
| Tips | – | · | Not stated |
| Automatic payment reminders | ○ | · | Not stated |
| Overdue alerts to you | ○ | · | Not stated |
| Know the invoice was opened | – | · | Not stated |
| A link the client opens | ○ | ● | Tied |
| Client statements | ○ | · | Not stated |
| Homeowner financing | – | · | Not stated |
| Lending or capital for you | – | · | Not stated |
| Running the business | |||
| Expense tracking | ○ | – | Invoice Koi |
| Receipt scanning | ○ | – | Invoice Koi |
| Time tracking | ○ | – | Invoice Koi |
| Jobs and job organization | ○ | ● | Tied |
| Schedule visits or a calendar | ○ | · | Not stated |
| Routing or GPS | – | – | Neither |
| Reports | ○ | · | Not stated |
| Export CSV, spreadsheet or PDF | ○ | · | Not stated |
| Accounting sync | – | · | Not stated |
| Bank feed import | – | · | Not stated |
| Barcode scanner | – | · | Not stated |
| Leads or a CRM | – | · | Not stated |
| Track client activity | ○ | · | Not stated |
| Request client reviews | – | · | Not stated |
| A marketing site for you | – | · | Not stated |
| An AI assistant | ○ | · | Not stated |
| Voice note into an invoice | ○ | · | Not stated |
| Read a document and answer on it | ○ | – | Invoice Koi |
| Account and scale | |||
| Mobile app | ○ | ● | Tied |
| Web access | – | ● | Them |
| Sync and backup across devices | ○ | ● | Tied |
| Users on the account | 1 user, crew plans add seats | ● | Tied |
| More than one business | ○ | · | Not stated |
| Priority support | one to two days | · | Not stated |
- ● In the free tier
- ○ In the cheapest paid plan
- ▲ Only on a higher plan
- – Not offered
- · Not stated on their page
- 3 a month Included, but capped or charged at this rate
What is free, and what the subscription buys
Setting up your business and writing drafts is free. Issuing an invoice, estimate or receipt needs a subscription. Eligible new iOS subscribers: two weeks free on annual, one week on weekly. Nothing starts until you confirm the purchase. Without a trial, the displayed price applies immediately.
- Install the app and set up your business
- Add your clients and your price book
- Write drafts of invoices and estimates
- Send unlimited invoices, estimates and receipts
- Cloud storage for every photograph, on any phone
- Unlimited AI scanning of receipts and documents
- AI voice notes into invoices, no daily limit
- Priority support, in one to two working days
US App Store solo prices. Prices and offers vary by country and store. Your local price appears in the app before purchase. Renews automatically until cancelled in your store account settings. Your records stay yours. After expiry, view, export or resend issued records and record or collect outstanding payments. New documents need a subscription or eligible trial, except where existing access is preserved. Existing customers keep their promised core document access.
Switching from Square Invoices
If Square Invoices can export your clients or items as a spreadsheet (CSV), Invoice Koi reads the file, matches the columns by their headings and only ever adds: nothing already on your phone is removed. You can do it before you subscribe.
Common questions
Is Invoice Koi cheaper than Square Invoices?
As checked on 7 October 2026, Square Invoices' free plan allows invoicing with no cap, and its cheapest paid plan is $49 a month for Plus, per location. Invoice Koi is free to set up and draft in, and sending is an annual solo plan at US$99.99 billed yearly (about US$8.33 a month), or a weekly solo plan at US$9.99 billed weekly (US App Store prices). The app shows your local price from the store, with any free trial you are eligible for, before you buy. If Square Invoices' free plan is enough for you, it costs less than any subscription.
What does Square Invoices do that Invoice Koi does not?
Four things, including “Client contracts”, “Bank transfer or ACH” and “Tap to Pay in person”. If one of those is what you need, Square Invoices is the better pick.
Does Invoice Koi take card payments?
Yes. After Stripe setup, Koi can collect card payments online through a payment link. Koi charges 0.35% with a subscription, or 0.7% + $0.10 without one, plus Stripe processing fees. Payments recorded manually have no Koi fee.
Draft first, subscribe to send
Draft free. Subscribe to send unlimited invoices with your own logo and no watermark.
On Google Play now. Coming soon to iPhone. Have the app? Open it
iPhone and iPad, iOS 16.4 or later.
Where these numbers come from
Every Square Invoices cell was read from their own pricing page on 7 September 2026, at US list prices in US dollars. The price was read again on 7 October 2026, after it changed. Square Invoices is read from its published plan comparison. Unlisted features and rates are marked as not stated. Platform fees are separate from processor fees. Report a correction.
Product names and logos belong to their owners. This comparison is not endorsed by or affiliated with Square Invoices.