Wave Payroll Reviews & Pricing

by Wave Accounting | Founded 2009, Canada

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Overview Pricing Benefits Reviews Features

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What is Wave Payroll?

Industry Specialties: Serves all industries.

Wave Payroll is a cloud-based solution designed to provide simplified payroll management solutions. The product allows users to sync data, monitor employee activity, track leave, comply with tax reforms, view journal transactions, generate payslips and process payments.

It uses 256-bit encryption to protect bank data connections and handles credit card and bank account information with PCI Level-1 certification. Other functionalities include income and expense tracking, accounting, monthly receipt uploads, regular reminders, consolidated dashboards and transaction updates.

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User Sentiment

Based on 116 reviews:

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Product Screenshots and Videos

Wave Payroll Pricing

Based on our most recent analysis, Wave Payroll pricing starts at $46 (Monthly).

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Starting From: $46
Pricing Model: Monthly
Free Trial: Yes, Request for Free

Training Resources

Wave Payroll is supported with the following types of training:

Documentation
In Person
Live Online
Videos
Webinars

Support

The following support services are available for Wave Payroll:

Email
Phone
Chat
FAQ
Forum
Help Desk
Knowledge Base
Tickets
Training
24/7 Live Support

Wave Payroll Benefits and Insights

Why use Wave Payroll?

Key differentiators & advantages of Wave Payroll

Centralized Payroll: Add new employees, manage payments, track salaries, record time offs, manage tax deductions and oversee the overall workforce system with integrated solutions and efficient tools.
Automated Compliance: Stay updated with ever-changing tax laws and compute state, federal and local taxes automatically. Conform to regulatory changes and access accurate calculations with an effective tax engine.
Journal Transactions: Instantly access expenses, money owed to employees and tax authorities, liabilities, total costs and more on a single screen.
Self-Service: Allow employees to access personal details, view pay stubs, edit bank-related information, tax forms and more.
Dashboard: Edit, review, edit and manage payrolls on a consolidated dashboard. Set up schedules, approve runs, view bank account balance, export reminders to the calendar and update timesheets.
Reports: Access comprehensive reports to get in-depth insights into total sales, cash flow, profit and loss statement, transaction volumes and other crucial business metrics. Gauge performance and improve services with comparative reporting.

Industry Expertise

It provides complete solutions to manage business finances and is specifically suited for small businesses.

Wave Payroll Reviews

Average customer reviews & user sentiment summary for Wave Payroll:

116 reviews

82%

of users would recommend this product

Synopsis of User Ratings and Reviews

Based on an aggregate of Wave Payroll reviews taken from the sources above, the following pros & cons have been curated by a SelectHub Market Analyst.

Pros

Intuitive Design: Users praise Wave Payroll's easy-to-use interface, finding it simple to navigate and complete tasks like setting up payroll and running reports.
Automated Tax Filing: Wave Payroll automatically calculates, files, and pays payroll taxes, saving users time and reducing the risk of errors.
Affordable Pricing: Many users appreciate Wave Payroll's transparent and competitive pricing, especially its free plan for contractors and freelancers.

Cons

Customer Support Issues: Users have reported experiencing difficulties reaching customer support and receiving timely assistance when encountering problems.
Inaccurate Calculations: Some users have reported instances of Wave Payroll making incorrect calculations, leading to payroll errors and discrepancies.
Limited Features: Wave Payroll may lack certain advanced features that some businesses require, such as comprehensive reporting options or integrations with specific HR systems.

Researcher's Summary:

Are you riding the wave of payroll success, or are you drowning in paperwork? Recent user reviews of Wave Payroll suggest it's a lifesaver for entrepreneurs and small businesses, but it might not be smooth sailing for everyone.

Users rave about Wave Payroll's affordability and ease of use, especially compared to rivals like Gusto or QuickBooks Payroll. They appreciate the intuitive interface, automated tax calculations, and direct deposit features. One user even described hitting the "approve payroll" button as "fun" because it's so simple and stress-free. However, some users have voiced concerns about limited customer support and occasional glitches in the software. A few users also wished for more advanced features, such as HR tools and time tracking integration.

Wave Payroll's key differentiator is its price point. Starting at $25 per month, it's significantly cheaper than many competitors, making it a godsend for budget-conscious startups and freelancers. However, this affordability comes with a trade-off: Wave Payroll's automatic tax filing service is only available in a limited number of states. If you're outside those states, you'll need to manually file taxes, which can be a headache.

Overall, Wave Payroll is a great fit for entrepreneurs and small businesses looking for a user-friendly and affordable payroll solution. However, if you require robust customer support or advanced features, you might need to explore other options.

Key Features

Centralized Payroll: Add new employees, manage payments, track salaries, record time offs, manage tax deductions and oversee the overall workforce system with integrated solutions and efficient tools.
Automated Compliance: Stay updated with ever-changing tax laws and compute state, federal and local taxes automatically. Conform to regulatory changes and access accurate calculations with an effective tax engine.
Journal Transactions: Instantly access expenses, money owed to employees and tax authorities, liabilities, total costs and more on a single screen.
Self-Service: Allow employees to access personal details, view pay stubs, edit bank-related information, tax forms and more.
Dashboard: Edit, review, edit and manage payrolls on a consolidated dashboard. Set up schedules, approve runs, view bank account balance, export reminders to the calendar and update timesheets.
Reports: Access comprehensive reports to get in-depth insights into total sales, cash flow, profit and loss statement, transaction volumes and other crucial business metrics. Gauge performance and improve services with comparative reporting.