This is an additional service that is only available in the U.S. and Canada. Wave Payroll is easy to use, with simple menus for setting up and running payroll. And, because it doesn’t have a lot of extra HR functionalities, the interface is straightforward, and features are easy to find. While it only handles payroll tax payments and filings in 14 states, it provides the necessary information for filing in the other 36.

Every time a payroll run is approved, the applicable bookkeeping information is logged in to Wave Accounting. The gross payroll amount is recorded in the expense category of your Account Mapping and included in the Profit and Loss report, as is the amount of taxes you owe as an employer. It even provides automated tax payment and filing services, including year-end reporting, but only in 14 states.

There is no way to set an invoice total and have Wave calculate the tax portion as a percentage. This is not a problem for businesses that deal in wholesale transactions that are not subject to sales tax, but is problematic for retail businesses whose pricing includes GST. Payroll by Wave does not have a separate section for payroll reports. There’s only one (Payroll Wage & Tax Report), and it’s found in the list of more-standard accounting reports.

How much does Wave cost?

Also, 24/7 customer service is available on the platform to answer your queries. QuickBooks Payroll tops out the services we tested, at $80 per month, plus $4 per month per employee. Payroll by Wave’s monthly base price goes up to $35 if you’re in one of the six states that offers a payroll tax-filing service. This is roughly the same cost as Gusto (Starting at $6 Per User Per Month at Gusto) , our Editors’ Choice, which offers more tools and superior usability in every area.

Links to the site’s features are displayed in a left vertical toolbar. Half are devoted to Wave’s bookkeeping tools (Sales, Purchases, and so on). Click the Payroll link, and a new menu of options appears (Run Payroll, Employees, Timesheets).

• There’s an automated tax filing option if you live and pay workers in specific states; otherwise, you’ll have some paperwork to do.
• Check out our Gusto review or SurePayroll review for comparable options with stronger payroll features and HR support.
• It’s worth noting that you don’t pay for every contractor every month.
• Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
• You still have to pay the $40 base fee per month (plus the per-employee costs) even if you opt not to get the provider’s automated tax filing services.

Its user interface is gorgeous and focuses on point-and-click simplicity. Customers in the other 36 states are consigned to Wave Payroll’s self-service package by default and must handle payroll taxes by themselves. Wave Payroll’s partnership with Next Insurance allows you to provide workers’ compensation insurance in all US states. You can sign up directly from Wave Payroll—go to “Payroll,” then “Run Payroll,” and click “Get Insured” to create your profile.

The 8 Best International Payroll Services for 2023

Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay. Allow your customers to pay your invoices immediately via credit card, secure bank payment (ACH/EFT), or Apple Pay. Create beautiful, free invoices that reflect your business branding. Automate overdue reminders, set up recurring bills, and add notes or terms of service with ease.

The dashboard is a good place to look if you’re looking for a quick summary of your payroll function. It includes upcoming start and end pay dates, a “Things to do” list and easy access to payroll setup. There’s also a “Review this payroll” button that can give you a glance of your current payroll and the total payroll amount. In addition, Wave Payroll seamlessly integrates with Wave Accounting, which is great news if your business is using the accounting app and familiar with it. Wave Payroll can automatically track and post payroll expenses to Wave Accounting.

The platform focuses on keeping people paid with few bells and whistles. If you’d rather not deal with payroll, HR, hiring and offboarding on your own, a professional employer organization like Justworks can do it for you. While Justworks is a good deal more expensive than Wave Payroll, it’s definitely more fully featured and saves busy business owners a great amount of time. For small-business owners focused on merely keeping people paid, Wave is a great choice.

Wave Payroll’s two pricing packages, Tax Service States and Self Service States, respectively offer full-service and self-service payroll. Wave Payroll’s simple, low-cost features may be basic but they’re well-suited for small businesses needing an affordable all-in-one accounting and payroll solution. If you decide to resume pay processing, simply go to Wave Payroll’s billing menu to activate your subscription and immediately start using the software’s payroll tools.

How Wave Payroll works

This includes the Direct Deposit module, Automated Payroll Tax Services, and an Employee Self-Service portal. Unique industry-specific features, such as tip reporting for hospitality businesses, also come in handy with Wave Payroll. The software easily integrates with other vital business systems, especially other Wave products like Wave Accounting, for a cohesive business management experience.

It also has an open API and, of course, integration with native Wave software. For example, if you cancel your Wave Payroll plan in September, you should reactivate your subscription the following January to generate year-end tax reports. Wave Payroll’s monthly billing cycle starts on the first day of every month. If you unpause your subscription in the middle of the billing cycle, then you’ll be charged a prorated amount. Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption.

Its full-service model is a definite rival of Intuit QuickBooks, but Wave offers a more modern and basic interface at a cheaper price point. There are very few up-to-date Wave Payroll reviews online, as of this writing. Those who left feedback on third-party review sites (like G2 and Capterra) raved about its user-friendly interface and generally easy setup process. They also appreciate its affordable plans and seamless integration with Wave Accounting. The seamless integration between Wave’s payroll and accounting products makes updating general ledgers easy for you or your accountant.

Wave Payroll alternatives

Choosing Wave Payroll opens up a world of benefits for businesses. The software simplifies the payroll process, reducing the risks of errors or omissions and ensuring smoother operations in general. It promotes compliance with tax regulations, eliminates the need for manual taxation calculations, thereby saving time and reducing the possibility of costly penalties. Utilizing Wave Payroll can result in a significant reduction in labor costs, considerably streamlining company processes and promoting productivity.

Unlike all other competitors, Wave doesn’t let you enter employer contributions or deduct a percentage of employee pay for a retirement plan. Here, too, you can establish after-tax deductions—union dues, garnishments, and so on. There are several comparably priced payroll applications on the market today that offer full-service payroll processing and include a lot more features and functions than Wave Payroll offers.

However, if you’re in one of the 36 unlucky states that don’t have full-service payroll available through Wave Payroll, you might want to seriously look elsewhere. Wave Payroll also offers PTO tracking and the ability to print payroll checks in-house. Workers’ compensation insurance is included in the application. Wave Payroll is an excellent choice for small businesses needing a simple, beginner-friendly solution.

3 Ways to Write a Receipt isn’t just beautiful for small-business owners — it also offers a rich experience for staff members. Wave Payroll doesn’t include HR features, and its onboarding features are limited to new hire self-guided onboarding. Simply add your new hire’s email address, and they’ll be sent an onboarding checklist to complete.

Wave Payroll lets businesses manage payroll, employee deductions and taxes all in one platform. Employers can run payroll for employees and contractors, connect their accounts with Wave Accounting and let Wave file their payroll taxes for them in some states. It also provides employees with a portal to access and update their information. Wave payroll is a software used by small/medium scale business owners to pay the wages of their workers or contractors.

Good for basic payroll needs

When you’re finished with that employee, click the arrow to the right to see a full accounting of that payday—something like a pay stub. You can upload files (contracts and other forms); establish a direct deposit connection by entering routing and account numbers; and choose an employee status. On this last page, you can also start the process of “offboarding” an employee (resignations or dismissals) or place them on leave. You’ll have to enter Contractors as Vendors; more on that later. The software’s ability to seamlessly integrate with other Wave products, including accounting and invoicing, is a significant advantage.