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. Robie Ann Ferrer is an HR expert writer at Fit Small Business, focusing on small business HR and payroll software content.

While Wave Payroll’s features are pretty basic, its employee status option is a great perk. This is particularly true if you have seasonal or occasional employees and independent contractors that you pay sporadically. You can change their status from active to inactive and only run payroll for them when you need to. These 14 states include tax services with the option to automatically transfer tax payments and file the paperwork with your state tax office and the IRS (this excludes 1099 Filings). Both QuickBooks Payroll and Wave Payroll lack compliance management, but Wave Payroll features a detailed employee portal, which QuickBooks Payroll lacks. Wave Financial Inc. is an accredited business with the Better Business Bureau and has an A+ rating from the company.

Payments

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. 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.

Negative Wave Payroll Reviews & Complaints

Note that the start date is by default Jan. 1 and this tool is only for salary-based income employees. You can save the pay stub as a PDF to email to your employee or keep for your records. Our partners cannot pay us to guarantee favorable reviews of their products or services. Access to third-party integrations and basic HR tools like employee benefits and onboarding are also important.

How Wave Payroll works

1. You can even input your new hires’ direct deposit information into its system for future payroll runs, plus your employees can still view their previous pay stubs and tax forms.
2. For some of its features, the software will walk you through the process (such as setting up your account).
3. They’ve also commented on the automatic generation of tax forms being a handy feature.

While Wave's main product is its free accounting platform, Wave Payroll is a paid, mid-tier solution that is equipped with standard features like automatic payments and multi-state filing. Although Wave Payroll lacks the flexibility of different payroll schedules, it is still a budget-friendly solution for small businesses. Wave Payroll may have limited HR features, but its solutions are sufficient enough to help small businesses manage very basic HR tasks, such as time sheets and new hire reporting. It even has a simple employee database that contains your workers’ basic information, salary and tax details, PTO balances, and benefits deductions.

There’s also a “Review this payroll” button that can give you a glance of your current payroll and the total inventory and cost of goods sold payroll amount. We built our payroll tool for small business owners, so it’s easy to use AND teaches you as you go. Give your customers the option of paying with one click using a credit card, bank transfer, or Apple Pay. Doing payroll manually involves confusing and time-consuming calculations.

Wave Payroll is a cloud-based software that helps small businesses run payroll and calculate and file payroll taxes. reported daily contract rates While it offers a reasonably priced option for small businesses, it is lacking in some features compared to competitors and only offers tax filing services in 14 states. If you need a different accounting software that includes payroll, consider QuickBooks.

We believe everyone should be able to make financial decisions with confidence. 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. This helps you get extra reminders, plus you can easily see payroll timelines without having to log in to Wave Payroll. It will be your responsibility to ensure that taxes after the month you cancel are submitted and filed to the applicable agencies. Wave Payroll also offers plan downgrade and cancellation options, including a Limited Access tier that allows you to temporarily how to prepare a cash flow statement pause payroll.

And, to help ensure that all tax computations are correct, Wave Payroll regularly updates its system with the latest tax tables and regulatory changes. We research, evaluate, and test each payroll software app that we review at Merchant Maverick, placing special emphasis on key characteristics to generate granular ratings. 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 an onboarding checklist to complete.