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. It also makes state and federal payroll tax payments and files taxes for you and integrates with other software options, including QuickBooks and Xero. The software only has one plan at $40 per month with an additional $6 per month per paid employee. 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.
Wave offers a collection of small business software options, including Wave Payroll, allowing businesses to manage and run payroll easily. However, any business looking to offer healthcare options, a 401(k), or needs to send garnishments will find Wave Payroll lacking. And if you have more than 20 employees, Wave Payroll isn’t your best choice.
Although Wave Payroll lacks the flexibility of different payroll schedules, it is still a budget-friendly solution for small businesses. Wave Payroll doesn’t have time tracking functionalities, so you need to input the hours into its online time sheet manually. It has separate tabs for hourly workers and salaried employees. For your hourly staff, you use it to enter their total hours worked, overtime hours, and PTO information. For salaried employees, you can add in their overtime and PTO details, if any. Overtime pay is also automatically calculated at either time-and-a-half or double time, depending on when employees are eligible for it.
Can you do payroll on Wave?
There’s also a “Review this payroll” button that can give you a glance of your current payroll and the total payroll amount. We believe everyone should be able to make financial decisions with confidence. 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. Employees can securely log in to access their pay stubs and W2s, and manage their contact and banking information. Deel is a global payroll solution from the company of the same name in San Francisco.
Wave Payroll offers a hybrid manual and automated payroll service. To calculate the payroll tax you’ll need to apply to your employee’s wages, follow these simple instructions and you’ll have a quick estimate of the true cost of each employee on your payroll. Our partners cannot pay us to guarantee favorable reviews of their products or services.
Payroll
It may have an online help center you can access 24/7, but not all of the articles contain step-by-step details. And while you can hire a Wave Advisor, this service costs extra (custom-priced), and you only get assistance in completing and filing business or personal taxes. Wave Payroll is easy to use, with simple menus for setting up and running payroll.
- With a base price of $40.00 per month, Gusto is the costlier option compared to Wave’s base price of $20.00.
- Wave Payroll doesn’t offer time-tracking features beyond timesheet management.
- While Wave Payroll’s features are pretty basic, its employee status option is a great perk.
- Customers in the other 36 states are consigned to Wave Payroll’s self-service package by default and must handle payroll taxes by themselves.
- There are currently 13 different reports available, and only two are specific to payroll.
Its platform has a robust tax engine that automatically computes federal, state, and local taxes. And, to help ensure that all tax computations are correct, Wave Payroll regularly updates its system with the latest tax tables and regulatory changes. It is not easily accessible I.e wave payroll don’t have an app that work on Andriod and IOS devices. We were actually able to get everything set-up in 4 hours, not missing a beat, employees were paid on time and reporting cash in – cash out doesn’t require a degree from MIT. While Wave Payroll does offer a few customer support options, including email support and chatbot support, they’re not necessarily reliable. We tried to ask a question through the chatbot feature and didn’t receive a helpful response.
Check out our handy support article to learn how you can switch to using Wave’s payroll feature. Deposit payments quickly, reliably, and directly into your employees’ bank accounts. G2 shows more than 25 customer reviews of Wave Payroll with a 4.1-star rating. Positive reviewers noted the platform’s easy-to-use integrations and simplified payroll processes. Some negative points mentioned are the two-step process of paying 1099 contractors and the lack of international payrolls.
OnPay Payroll
Deposit times may vary due to processing cutoff times, third party delays, or risk reviews. You don’t have to wait for a new quarter or year to start using payroll software—you can start running payroll at any time! And if you’re switching providers, you can make the transition easily by importing all the necessary forms and information in just a few minutes.
For contractors, the process of adding independent contract workers into its system is slightly different. 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. You can check your pay schedules directly in its system and get email notifications about upcoming pay runs. You can even export payroll dates into a calendar app—simply download your Wave pay schedules as an ICS file and then upload it to calendar programs like the Apple Calendar and Google Calendar.
Support Rating
It even provides automated tax payment and filing services, including year-end reporting, but only in 14 states. However, you need to complete Wave Payroll’s tax payment information requirements before you can enjoy this service. It calculates wages, deductions, and taxes, including Federal Unemployment Tax for you. Multiple pay schedules are available—such as weekly, biweekly, semimonthly, and monthly. While Wave Payroll offers live support through text and email from 9 AM to 5 PM EST, the software lacks phone support.
How Wave Payroll Works
Employees and contract workers can set up their profiles and taxes themselves in an employee portal, and they’ll get paid three days after you process payroll if they choose direct deposit. 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 accounting equation payments to your employees’ bank accounts (via direct deposit). I like that it’s completely free and has many easy aspects of adding receipts, reporting, tracking your expenses, bank accounts and more. I compared it with other bookkeeping software and Wave is the best because it’s free and does the same things as other platforms but more.
Reviews
It’s packed with many things that I still have to explore when I get the chance. I think everyone should give this software a shot before they decide on moving on to a paid platform. Check out our Gusto review or SurePayroll review for comparable options with stronger payroll features and HR support. Each of these Wave Payroll alternatives offers more support and operates in more states than Wave.