I prefer this over Xero only because it’s free and easy to use on both mobile and desktop. Wave Payroll It’s packed with many things that I still have to explore when I get the chance.
- The reports are composed of line items rather than graphs, but this is still a helpful and simple layout of company financials.
- You’ll get more bang for your buck with one of our top payroll software choices instead.
- No worries—just check out our list of the year’s best payroll companies for small businesses.
- Wave offers a payroll guarantee for accuracy, so if there are any errors on Wave’s end, it may pay a portion or all of a penalty incurred because of an inaccuracy.
- Each of these Wave Payroll alternatives offers more support and operates in more states than Wave.
- Our partners cannot pay us to guarantee favorable reviews of their products or services.
Many or all of the products here are from our partners that pay us a commission. But our editorial integrity ensures our experts’ opinions aren’t influenced by compensation. Compensation may impact the order of which offers appear on page, but our editorial opinions and ratings are not influenced by compensation. Wave is very similar to FreshBooks, another user-friendly and modern accounting software. It also competes with Xero and QuickBooks, though it’s less nuanced than those tools. If you use H&R Block to file your taxes, you can import information from Wave to make tax filing more straightforward. Pricing varies depending on your business type and you can choose to file taxes yourself or have a Wave tax advisor assist with filing.
Compared to bigger-name competitors, Wave Payroll is lacking in some features. For example, it doesn’t allow employers to purchase or manage benefit plans through Wave and doesn’t offer tools to help with managing garnishments.
Wave Payroll is a highly intuitive payroll software add-on to Wave’s free accounting system. Best suited for small businesses, it lets you pay employees and contractors, offers workers’ compensation insurance, and has an employee portal.
Compare Payroll Software
- It’s easy to set up and you don’t need a lot of technical know-how to run payroll with it.
- Primary features include invoicing, accounting, online payments, lending and receipts.
- We also recommend it if you’re uncertain whether you’d need the payroll service in the upcoming months.
- Wave Payroll lets you temporarily pause your payroll subscription and you can always resume it when you need it again with ease.
- Wave Payroll is committed to providing accurate tax calculation services.
- You can also click on the Review this Payroll button to take a look at your current payroll, with the total payroll amount displayed prominently.
Higher-priced plans include greater automation, payment management, inventory and time tracking, and analytics features. Wave’s pricing for its Payroll software is based on the services available in your state and how many employees you pay each month. Our newest integration, Wave Payroll, is now live, further extending our Canadian provider coverage. Finch can now connect you to over 170 HRIS and payroll systems, giving you access to the employment data necessary to create the integrated experiences your customers are looking for. 1) When your bank account is connected and it tracks your transactions, it double records the money collected from jobs.
Wave Payroll is a cloud-based payroll solution for small businesses. Primary features include invoicing, accounting, online payments, lending and receipts. It allows users to create recurring bills, send automatic payment reminders, bookkeeping, share invoice status, create customer statements and accepts credit card payments.
The setup process is completed in easy-to-follow steps, but you only have the option to choose one payroll schedule, which includes weekly, bi-weekly, semi-monthly, and monthly options. This is because all payroll-related expenses incurred in Wave Payroll will automatically post in your Wave Accounting general ledger (G/L). Wave Payroll also includes an easy setup process and offers some nice features, including an employee access feature. During our testing, we found Wave to be extremely easy to use compared with tools like QuickBooks and Zoho Books, though also less advanced as well. We also noted that the application offers a ton of step-by-step self-help options within the dashboard, which will help those who are newer to accounting software tools. This payroll service is an excellent option for a single business owner, household, or other small businesses that work inside one state. It’s also a more affordable option, so if you’re operating on a limited budget, you should consider SurePayroll.
Wave Payroll HR Features
That’s why a payroll software like Wave’s can help ease the burden of doing payroll on your own. We’ve also crafted a guide to small business payroll to help you navigate the process. Our payroll software is seamlessly connected with the rest of your Wave account to reduce the time you spend on manual bookkeeping. 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.
Both packages come with the same payroll features like multiple pay schedules, free direct deposits, and tax payment reminders. In our expert review, https://www.wave-accounting.net/ scored a modest 2.88 out of 5. The system is easy to explore and master, plus it is cost-effective for businesses located in states where it offers tax filings and payments. However, it didn’t score well for the payroll features criterion because of its location limitations. Also, its HR tools are only limited to its self-serve employee access portal; it files new hire reports in 14 states only. Wave’s payroll features aren’t as strong as those from competitors like Gusto.
There are separate options for adding salary, vacation details, tax details, benefits and deductions, direct deposit, and bank details. After originally offering just accounting software, the company has introduced Wave Payroll, Wave Payments, Wave Invoicing, and Wave Advisors over the last 10 years. After being acquired by H&R Block in 2019, Wave launched Wave Money, a full-service business bank account.