Wave: Small Business Software Wave Financial

wave payroll

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. Merchant Maverick’s ratings are not influenced by affiliate partnerships.

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What you may gain in affordability, you lose in functionality. You technically can process payroll without using software, but this can be risky, especially for employers who don’t have the time or accounting skills to process payroll correctly. Mistakes and errors can lead to hefty tax penalties, which would offset any money saved through DIY payroll processing methods. This is why it’s recommended that small business owners use payroll software instead. Wave is an excellent option for payroll and accounting software for small businesses.

Tax payments and filings

Wave Payroll is a simple payroll solution for small businesses needing basic payroll features, such as direct deposit, deductions, check-printing, and much more. Wave Payroll’s seamless integration with Wave Accounting makes it one of the best payroll software options for businesses in need of a combined accounting and payroll solution. Wave’s tax-service (aka full-service) plan adds automatic payroll tax filing to its list of software tasks. You won’t have to worry about calculating payroll taxes correctly or about filing them on time—Wave Payroll does it for you. However, that’s the only difference between it and Wave’s self-service payroll option.

  1. Its plans, prices, and features are fairly standard, comparable to competitors like SurePayroll and Square Payroll.
  2. Wave Payroll’s security measures are on par with those of banking institutions.
  3. Our partners cannot pay us to guarantee favorable reviews of their products or services.
  4. We totally get it—running payroll for your business can seem like a daunting task, especially when you’ve got so much on your plate.

It’s helping me run my business and not worry about payroll. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation. 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. Businesses that use Wave Payroll are generally happy about their experience.

Tax payments and filing

Refer to our Advertising Disclosure to learn more about how we earn compensation from affiliate partnerships and how we maintain our independent editorial integrity. Wave Payroll doesn’t publish a list of its integrations but does integrate with Google Sheets and Zapier, which functions as a bridge to over 1,000 applications. It also has an open API and, of course, integration with native Wave software. Wave Payroll earned a solid 4.1/5 stars in the review category, as users generally approve of the software. There are currently 13 different reports available, and only two are specific to payroll. However, if you’re already familiar with Wave Accounting, Wave Payroll’s cloud-based system will seem familiar and easy to get used to.

Our payroll software is seamlessly connected with the rest of your Wave account to reduce the time you spend on manual bookkeeping. Deposit payments quickly, reliably, and directly into your employees’ bank accounts. No worries—just check out our list of the year’s best payroll companies for small businesses. Unfortunately, Wave Payroll doesn’t offer a mobile app. (Neither does Wave Accounting, which you can use via a browser only.) Honestly, few payroll companies have solid employer-facing payroll apps — it’s just a shame Wave Payroll isn’t one of them.

wave payroll

Wave Payroll is cloud-based payroll software designed to help small business owners simplify and automate payroll processes while remaining compliant with taxes and deductions. This is an additional service that is only available in the U.S. and Canada. Compared to other payroll software, Wave Payroll offers a very limited feature set, which ultimately drove the software’s feature rating down to a 3.2/5 stars.

All feedback, positive or negative, helps us to improve the way we help small businesses. Enjoy zero annual or late fees, 1.5% cashback on all business purchases, and a flexible credit limit with the Stripe Corporate Card. “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes perpetual inventory method definition aren’t something you have to sweat over the entire calendar year.” Keep compliant and save time by having Wave handle your Canada Revenue Agency tax remittances on your behalf. After November 7, if you use Duo Push when logging in to a Cornell web application, the Duo prompt in your browser will include a three-digit code. Some of the links on our site are from our partners who compensate us.