Wave Financial: Financial Software for Small Businesses

wave accounting payroll

And luckily, these other tools are similarly user-friendly and visually stunning. The platform doesn’t offer various subscription “tiers.” Instead, everyone gets the same features included — except for automated tax filings. That perk, which determines your final price, depends on where in the U.S. your employees work. Quickly create and send unlimited invoices, look like a pro with customizable templates, and get paid fast with online payments.

Negative Wave Payroll Reviews & Complaints

Any connections between you, your bank accounts, and Wave are protected by 256-bit SSL encryption. Our (non-judgmental) team of bookkeeping, accounting, and payroll experts is standing by to coach you—or do the work for you. Catering primarily to midsize and large enterprises, Paychex offers a level of sophistication and customization that might be overkill for smaller businesses but is perfect for larger ones. Perhaps Wave’s limited functions are too underwhelming for you, or maybe you need international support in Europe or elsewhere. If so, there are other payroll competitors for you to consider.

The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Wave payroll earned a low 2.9/5 star rating in the ease of use category, as the software can be tedious to set up, lacks many integrations, and doesn’t offer any white glove set up options. Our partners cannot pay us to guarantee favorable reviews of their products or services. Wave Payroll also offers PTO tracking and the ability to print payroll checks in-house. Workers’ compensation insurance is included in the application.

wave accounting payroll

Plans to makeyour plans happen.

It’s always available, and it’s backed up for extra peace of mind. Your employees can log into Wave securely to access their pay stubs and T4s, and manage their contact and banking information. Employees can easily pull detailed pay stubs and tax documentation. They can also update their contact information, tax withholdings and other information.

Wave Payroll stands out with its simplified dashboard and intuitive design. This beautiful approach is invaluable for small-business owners who might not be payroll experts. The point-and-click interface is structured so that even novices can dish what is an average ledger out paychecks stress-free.

QuickBooks

  1. Employees can easily pull detailed pay stubs and tax documentation.
  2. However, any business looking to offer healthcare options, a 401(k), or that needs to send garnishments will find Wave Payroll lacking.
  3. The most basic plan, Simple Start, costs $30 per month, and the top-tier Advanced plan costs $200 per month, which is a sizable investment if you’re running a business on a tight budget.
  4. Bank data connections are read-only and use 256-bit encryption.

We provide different levels of support, depending on the plan and/or the add-on features you choose. Upon processing your first payroll, you can use Wave Payroll for up to 30 days, commitment-free. At any time, you can activate to start your billing cycle and gain access to items like tax filing and approving payrolls beyond the current month.

We also look for the presence of client and employee portals, benefits administration, PTO and time management tools, and many more vital features. More specifically, Wave Payments pricing starts at 2.9% + $0.60 per credit card transaction and 1% per transaction for AHC payments. If your business needs tax, bookkeeping, or accounting advisory services, Wave Advisor will provide them at a starting price of $149/month.

However, any business looking to offer healthcare options, a 401(k), or that needs to send garnishments will find Wave Payroll lacking. And if you have more than 20 employees, Wave Payroll isn’t your best choice. Wave Payroll earned a solid 4.1/5 stars in the review category, as users generally approve of the software. 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 what is standard costing in simple words an onboarding checklist to complete. There are currently 13 different reports available, and only two are specific to payroll.

While these abilities are the norm, Wave’s gorgeous interface will impress your staff. In turn, this positive experience can improve morale and give a more professional image to your business, which can help reduce employee turnover. Wave Payroll isn’t just beautiful for small-business owners — it also offers a rich experience for staff members. If you’re interested in our payroll software, you can start a free 30-day trial when you sign up for Wave. Create beautiful invoices that reflect your business branding.

Rippling is the first way for businesses to manage all of their HR, IT, and Finance — payroll, benefits, computers, apps, corporate cards, expenses, and more — in one unified workforce platform. By connecting every business system to one source of truth for employee data, businesses payment processing can automate all of the manual work they normally need to do to make employee changes. But beyond the aesthetic visuals, this small-business payroll software is limited. Its lack of support outside the United States and Canada is a dealbreaker for global organizations. Plus, there are no advanced capabilities such as performance management.