Wave Pricing
By: Flaka Ismaili September 7, 2023
It has an employee portal for viewing pay stubs and tax forms (if applicable). If you’re on the Tax Service States plan but prefer to handle payroll tax payments and filings yourself, Wave Payroll will allow you to downgrade your plan. 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. If you need a different accounting software that includes payroll, consider QuickBooks.
- We also check the provider’s customer support and whether it offers unlimited pay runs, multiple pay options, full-service payroll, and tax filing services.
- Gusto is a reliable software, as is Wave, but Gusto features multi-state payroll functions, automatic net-to-gross calculations, and lifetime accounts for employees, which Wave Payroll lacks.
- It also makes state and federal payroll tax payments and files taxes for you and integrates with other software options, including QuickBooks and Xero.
- We were using a million different platforms to do what Wave can do all in one.
SurePayroll is an affordable and straightforward payroll software that offers automatic payroll runs, tax filing, and exceptional customer service. Wave’s payroll software supports paying both employees and independent contractors when you run payroll. The proper tax forms (like the T4 and T4A) are available to be generated by you.
How much does Wave cost?
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. You can even input your new hires’ direct deposit information into its system for future payroll runs, plus your employees can still view their previous pay stubs and tax forms. 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.
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 cloud-based software that helps small businesses run payroll and calculate and file payroll taxes. While it offers a reasonably priced option for small businesses, it is lacking in some features compared to competitors and only offers tax filing services in 14 states.
What Users Think About Wave Payroll
If you use Wave Accounting, you can view even more reports, such as profits and loss, cash flow, sales tax, and account transactions. You may also use filters and choose the data you need to customize the reports you need. In these areas, Wave calculates your tax liability for you, though you still need to submit your tax paperwork manually. Open to sacrificing some features to reduce or eliminate your cost? Wave has helped over 2,000,000 North American small business owners take control of their finances.
Accessibility
There’s also a “Review this payroll” button that can give you a glance of your current payroll and the total payroll amount. If you’re interested in our payroll software, you can start a free 30-day trial when you sign up for Wave. Allow your customers to pay your invoices immediately via credit card, secure bank payment (ACH/EFT), or Apple Pay.
Wave Payroll vs. OnPay
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. The software’s ability to seamlessly scrap value of an asset meaning examples quiz integrate with other Wave products, including accounting and invoicing, is a significant advantage. This connection means businesses can manage multiple financial aspects from a singular platform.
Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. This option works great for businesses that only pay certain staff during part of the year, such as the holiday season or the summer months. At Business.org, our research is meant to offer general product and service recommendations. We don’t guarantee that our suggestions will work best for each individual or business, so consider your unique needs when choosing products and services. Finally, if you use Wave Payroll, you can only access customer service via live chat on weekdays or via email.
Customizable payroll schedules
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). 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.
