Its platform has a robust tax engine that automatically computes federal, state, and local taxes. And, to help ensure that all tax computations are correct, Wave Payroll regularly updates its system with the latest tax tables and regulatory changes. It is not easily accessible I.e wave payroll don’t have an app that work on Andriod and IOS devices. We were actually able to get everything set-up in 4 hours, not missing a beat, employees were paid on time and reporting cash in – cash out doesn’t require a degree from MIT. While Wave Payroll does offer a few customer support options, including email support and chatbot support, they’re not necessarily reliable. We tried to ask a question through the chatbot feature and didn’t receive a helpful response.
- 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.
- With features like tracking and managing vacations, benefits, and overtime accurately and efficiently, this software streamlines the entire process of calculating employee salaries.
- In addition, employees can access their pay stubs securely through the platform’s portal along with tax forms that they may require for filing their own returns.
- Our payroll tax calculator is designed to provide general guidance and estimates, but does not give you exact taxes, payroll or other financial data.
Wave Payroll offers all the basic features necessary to run payroll but not much else. If you have Wave Accounting, automatic journal entries might come in handy. Once payroll has been run, the entry will be posted on the Transactions page on Wave Accounting automatically. Since deductions and benefits will appear as “Uncategorized Expenses,” you may go into Wave Accounting to categorize them. 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.
Final Verdict: Is Wave Payroll Worth It?
It’s packed with many things that I still have to explore when I get the chance. I think everyone should give this software a shot before they decide on moving on to a paid platform. Check out our Gusto review or SurePayroll review for comparable options with stronger payroll features and HR support. Each of these Wave Payroll alternatives offers more support and operates in more states than Wave.
Our payroll tax calculator is designed to provide general guidance and estimates, but does not give you exact taxes, payroll or other financial data. These calculators are not intended to provide tax or legal advice. Please consult your state tax authority for further information regarding state and federal taxes that may be applicable to your business. Businesses in states without tax services pay a cheaper base fee of $20 per month but the same per-employee rate of $6 per month for every employee or independent contractor. Wave’s pricing for its Payroll software is based on the services available in your state and how many employees you pay each month. 1 Payouts are processed in 1-2 business days for credit card payments and 1-7 business days for bank payments.
Can you do payroll on Wave?
For contractors, the process of adding independent contract workers into its system is slightly different. Unlike employees, with online profiles created in its Payroll module, contractor profiles are set up in the Purchases module because Wave considers these workers as vendors. You can check your pay schedules directly in its system and get email notifications about upcoming pay runs. You can even export payroll dates into a calendar app—simply download your Wave pay schedules as an ICS file and then upload it to calendar programs like the Apple Calendar and Google Calendar.
- We even consider the feedback that actual users posted on popular user review sites.
- It also lets you pay international contractors and automatically files and pays payroll taxes in all 50 states.
- If they choose the check option, you’ll have to make sure you have checks for printing; Wave Payroll doesn’t offer a print-and-mail option.
- However, you need to complete Wave Payroll’s tax payment information requirements before you can enjoy this service.
- The bot is generally useless and we have to eventually email for support.
Its pay processing solution, QuickBooks Payroll, comes with unlimited pay runs, fast direct deposits, and access to employee benefits. Read our QuickBooks Payroll review to help you gauge if its features fit your business needs. Wave Payroll is a simple payroll solution for small businesses needing basic payroll features, such as direct deposit, deductions, check-printing, and much more.
They’ll need to do so manually or through a different method so you can later input the information into the software. While Wave Payroll’s features are pretty basic, its employee status option is a great perk. This is particularly true if you have seasonal or occasional employees and independent contractors that you pay sporadically. You can change their status from active to inactive and only run payroll for them when you need to.
Employees and contract workers can set up their profiles and taxes themselves in an employee portal, and they’ll get paid three days after you process payroll if they choose direct deposit. Processing payroll through its platform only takes a few clicks. After you have approved the pay run, Wave Payroll takes three business days to send the payments to your employees’ bank accounts (via direct deposit). I like that it’s completely free and has many easy aspects of adding receipts, reporting, tracking your expenses, bank accounts and more. I compared it with other bookkeeping software and Wave is the best because it’s free and does the same things as other platforms but more.
Wave Payroll Customer Service
This is an additional service that is only available in the U.S. and Canada. If your company is in one of the 14 states where it offers automated tax services, then you get its Tax Service States plan. If not, then you’re under its Self Service States option, in which you handle tax payments and filings yourself. If you need a different accounting software that includes payroll, consider QuickBooks.
It even has a simple employee database that contains your workers’ basic information, salary and tax details, PTO balances, and benefits deductions. Both packages come with the same payroll features, like multiple pay schedules, free direct deposits, paid time off (PTO) accruals, employee self-service tools, and tax payment reminders. Wave Payroll pricing starts at $20/month + $6 per person paid for its self-service payroll plan. If you’re looking for free payroll software, check out our post, The Best Free Payroll Software For Businesses, to see our top free payroll software picks. Wave is an excellent option for payroll and accounting software for small businesses. Wave’s entire mission is to bring robust accounting, payments, and payroll programs to more small businesses.
Payroll pricing
Employees and contractors can log in to the self-service portal where they view pay stubs and access tax forms. They can also update payment details via this tool, as well as create profiles and update personal information. While the software provides just enough features to run payroll, there are so many basic features missing that you’d expect from payroll processing software. When it comes to complying with of the corporation local, state and federal payroll regulations, Wave Payroll lags behind. The software only offers automatic tax filing in 14 states so compliance issues are more likely to pop up if you have to go through the process manually. While Wave Payroll is less robust than other payroll software options, it has all of the tools you need to easily pay your employees and contractors in an accurate, timely fashion.
Wave offers a collection of small business software options, including Wave Payroll, allowing businesses to manage and run payroll easily. However, any business looking to offer healthcare options, a 401(k), or needs to send garnishments will find Wave Payroll lacking. And if you have more than 20 employees, Wave Payroll isn’t your best choice.
Offerings
OnPay Payroll offers features to help small businesses, including paying employees through multiple methods, custom reporting options and free payroll management for multiple-state processing. It also makes state and federal payroll tax payments and files taxes for you and integrates with other software options, including QuickBooks and Xero. The software only has one plan at $40 per month with an additional $6 per month per paid employee. Wave Payroll offers a Limited Access option if you need to temporarily pause your plan. It allows you to continue accessing previous payroll journal entries and generating reports without having to run payroll.
