Wave Payroll Review

For this one-time fee, you receive 120 minutes with a Wave expert who teaches you bookkeeping. Wave can also help you set up your account, migrate your data from another accounting platform and review your Wave account for errors. QuickBooks is more comprehensive and can grow with your business, but there is no free version. Wave Payroll is $35/month + $6 per employee/contractor in full-service tax states, and $20/month + $6 employee/contractor in self-service states. If you don’t need lots of technical accounting solutions besides accounting and payroll, Wave Accounting with the Payroll add-on is your best choice. With QuickBooks, you can take advantage of advanced reporting, inventory management, mileage tracking and so much more. That said, most small businesses will have less need for the features at a higher price point.

No one wants to waste time trying to figure out any software, no matter how important it is to your business. Both FreshBooks and Wave are great accounting systems for a solopreneur or a micro-business. However, its wide range of plans means it’s also an excellent fit for a growing business.

When To Choose Wave

You can click links to download your payroll data in CSV, PDF, or QuickBooks format; print checks; or preview the next payroll. Save the record and add any additional workers, then click Continue Setup, which takes you back to the main setup page, where the Manage Employees link opens your Employees page. Click on an employee in the list to open his or her complete data record. Paying contractors through Wave Payroll costs $4 per contractor paid per month, in addition to your payroll base fee. You will not be charged the $4 fee on months you do not pay contractors.

The base fee of this service is $15 per month + as many times $4 per month as the number of employees you have. However, if you have more than 11 but less than 100 employees, the additional per capita price is reduced to $2. This is definitely not the right software for you if you’re a large business with advanced needs regarding inventory management. For more advanced tools that will serve larger product-based businesses, look to Zoho Books or QuickBooks Online. When you upload receipts, Wave will automatically calculate the sales tax for that particular receipt.

Expensify To Give Away A Tesla In Contest For Accountants

In our case study, Fit Small Business purchased a job trailer with a bank loan. Wave will record the purchase price in the fixed asset and note payable accounts, but that’s the only thing it does. There are no options to track or view your list of fixed assets. You can’t set up separate depreciation for fixed assets or create loan amortization schedules.

Wave Payroll is best for small businesses whose payroll needs are very simple. As a Wave add-on, it integrates all the information into your Wave Accounting software, making bookkeeping and payroll accounting a breeze. Users love its intuitive and simple to use interface, even if some features take a few more steps to complete. And while it offers workers’ comp and an employee portal, it lacks benefits options and HR tools that similar providers offer. However, it’s still a good option for Wave Accounting users who need efficient payroll tools. Wave payroll is a software used by small/medium scale business owners to pay the wages of their workers or contractors.

Is Wave Right For You?

After they register with a password, they’ll have access to their pay stubs and other payroll details, such as bank accounts and routing numbers for direct deposit. The product also allows users to easy track and manage bank transfers and payments by simply marking them as a transfer during the bank reconciliation process. All reports can be exported to a CSV file or saved as a PDF. Knit is a cloud payroll platform for Canada’s accountants and bookkeepers.

However, the user access controls are more limited than in other programs, so you’ll want to be very selective about whom you add to your account. Viewers can see transactions and reports but can’t create or edit them, while Editors can see and edit transactions and reports. A benefit of Wave is that it is easy to set up and requires minimal information about your business to create an account. After you enter basic contact information, you select your business type from a dropdown menu. Wave adds your business contact information to your invoices and other documents, and uses your business type to customize the dashboard with the features you’ll need. Wave+ Accounting Coachingis an optional service that costs $249.

Payline

Tim is a Certified QuickBooks Time Pro, QuickBooks ProAdvisor for both the Online and Desktop products, as well as a CPA with 25 years of experience. He most recently spent two years as the accountant at a commercial roofing company utilizing QuickBooks Desktop to compile financials, job cost, and run payroll. Users who left Wave Payroll reviews online raved about its intuitive interface and ease of use.

Streamline your payables process with Divvy’s free vendor payment solution. 4.7/5 rated mobile app that brings budgets, virtual cards, and more into a single app. The pay-as-you-go program for businesses that need to build credit. Expense management software that helps to simplify and streamline your expenses. For accounting firms to streamline the spend and expense management of your clients making life easier for you and them. For construction companies looking to streamline budgeting and expense management processes.

Payroll By Wave Vs Gusto Comparison:

As an added benefit we award claimed profiles with additional points in the rankings as a thanks for showing transparency. Claiming your profile is as simple as clicking a link and receiving a confirmation email.

• On the Transactions page you can only see your unverified transactions as default.
• The ease of setting up, having payroll calculated & making payments.
• We spend hundreds of hours researching the best HR and recruiting software so you don’t have to.
• It has a dashboard that allows you to see charts for overdue invoices, bank accounts and credit cards.
• Wave is a web-based integrated accounting solution exclusively designed for small businesses, freelancers, and consultants.
• The pay-as-you-go program for businesses that need to build credit.

However, while Wave is built for businesses with up to nine employees, QuickBooks has no upper limit and tends to thrive as you scale and need more advanced features. With the many accounting and invoicing tools on the market, you can simplify, streamline and even automate your financial tasks. All of HubSpot’s marketing, sales CRM, customer service, CMS, and operations software on one platform. Nope, but their payment plan is different than the typical flat monthly charge. Depending on your business and the features you use, you’ll pay a different amount. Wave is upfront and transparent about charges though, so no surprises. That being said, they’re not the best option for larger organizations.

It’s great for small businesses, and it should be a top choice for small businesses with one to ten employees. You can check out our wave payroll reviews list of the best contractor accounting software if you need an accounting tool with a comprehensive project management feature.

One quick Google search will pull up a lifetime’s worth of financial software to check out, Wave and FreshBooks being just two. Although these are fewer direct integrations than what many of Wave’s competitors offer, you can connect with hundreds of third-party apps through Zapier. Payments by Wave integrates with Paypal, Stripe, and a wide range of payment and banking applications.

Wave Accounting Software

They use encryption and security controls, as well as third party sources like TRUSTe to stay up to date with privacy certification. Signing in with LinkedIn shows that your review is genuine and written by a real person. We can’t and wouldn’t post anything to your LinkedIn account or to your connections. The site cannot handle multiple pay rates or flexible payroll scheduling.

We help you automate the payroll process to save hours of work, and keep your clients 100% CRA compliant. We know the importance of flexibility and control, which is why you can customize our platform to run payroll yourself, or let your clients take control when needed. Knit also gives you total freedom with unlimited payruns, unlimited paygroups, unlimited administrators, and all-inclusive year-end reporting in a single package. Add even more value for your clients with a dedicated employee portal and integrated HR management tools. It offers better features, app integrations, and customer support – tying with Wave on user experience. There’s no set limit on the number of collaborators that you can invite to your account.

You’ll get access to unlimited email support for 30 days, live chat with customer support, and a full hour of live coaching. If customer service is important to your business, we recommend FreshBooks, which is known for its excellent customer service.

For new users, the Wave Launchpad is a great starting point. However, nothing beats the simplicity of direct integrations. You can also connect to over 1,500 apps via Zapier, a company that dedicates itself to helping people integrate their apps across the interwebs. Yes, we realize you’re probs a bit impatient, and just want us to tell you which is better for your business and why. Besides from having both been on the market for over a decade, their similar features are bar-none. We show reviews chronologically, and you can filter by star rating, language, location, or keyword.