Unfortunately, Wave Payroll has horizontal analysis of balance sheets and financial statements a lot of room for growth in its customer service offerings — earning a low 2.1/5 stars in the category. Wave Payroll lost points in this category due to its very limited support options and self-service resources. Wave Payroll’s full-service payroll tax support is currently only available in 14 states, but there are goals to expand full-service options nationwide in the future. Wave Payroll offers all the basic features necessary to run payroll but not much else. However, despite its simplicity, onboarding new employees can be a bit cumbersome, although Wave has a self-onboarding option for companies to offer to employees. Further, Wave Payroll’s integration options are very limited compared to other software and require the use of Zapier, rather than offering direct integrations.
Pocket- and small business-friendly perks
Wave Payroll also includes an easy setup process and offers some nice features, including an employee access feature. Wave Payroll offers basic payroll processing capability and is best suited for smaller businesses with fewer than five employees who are currently using or planning to use Wave Accounting. It’s also a good fit for businesses that pay seasonal employees. Wave Payroll’s app, while functional, only encapsulates some of the features available on its desktop version. This discrepancy can frustrate business owners or HR personnel who need to manage payroll on the go.
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QuickBooks from Intuit is a small business accounting software that allows companies to manage business anywhere, anytime. It presents organizations with a clear view of their profits without manual work and provides smart and user-friendly tools for the business. Paycor’s HR software modernizes every aspect of people management, which saves leaders time and gives them the powerful analytics they need to build winning teams. Everyday processes become simplified, allowing organizations to focus on their most important work. Unlike Wave Payroll which has limited HR functionalities, Gusto offers a more comprehensive suite. This array includes performance management, time-tracking and tools for employee onboarding.
For small-business owners focused on merely keeping people paid, Wave is a great choice. But for growing entities desiring next-level support, the platform falls short. Wave Payroll boasts several standout features designed to make the payroll process hassle-free. You can invite your accountants, bookkeepers or other business partners to Wave via email and designate their user roles. They can receive “editor permissions” and access accounting and reports as well as purchases easily. Ramp offers a free corporate card and finance management system for small businesses.
- Allow your customers to pay your invoices immediately via credit card, secure bank payment (ACH/EFT), or Apple Pay.
- If you do want live support, you’ll need to invest in an Advisor or paid service.
- More specifically, Wave Payments pricing starts at 2.9% + $0.60 per credit card transaction and 1% per transaction for AHC payments.
- FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage.
- QuickBooks Online’s detailed reporting and transaction tracking is ideal for growing businesses.
- With 24/7 in-app support featuring a rapid 1.25-minute response time and dedicated Customer Success Managers, Deel is with you every step of the way.
Similar to other reputable cloud-based accounting software products, Wave encrypts the data you share with it and monitors its server facilities 24/7. FreshBooks has an excellent mobile app that allows you snap photos of receipts, send invoices and track mileage. While Wave has a lot to offer when it comes to invoicing, know that it’s still slightly less automated than some competitors. This isn’t necessarily a deal-breaker, but it might require a bit more bookkeeping work. Visit your dashboard or use your invoicing or accounting features, and click the peach “Upgrade now” button. Learn more about changing subscription periods and plan types, and how to cancel your Pro subscription in our Help Centre.
Banking
You’ll need to answer a few questions about your business and provide us with a little more information about yourself in order to get approved to accept online payments. There are several comparably priced payroll applications on the market today that offer full-service payroll processing and include a lot more features and functions than Wave Payroll offers. Wave Payroll is designed for smaller businesses and is ideal for those with no experience processing payroll. The setup process is completed in easy-to-follow steps, but you only have the option to choose one payroll schedule, which includes weekly, bi-weekly, semi-monthly, and monthly options.
Connecting your accounts
There’s a fee involved with accepting online invoice payments, too. Customers can pay via credit card, bank payment or Apple Pay. While Wave is free to use, it doesn’t offer multiple plans to increase its functionality.
If a super easy-to-use payroll software is your dream, Wave Payroll delivers. Its user interface what are the three main valuation methodologies is gorgeous and focuses on point-and-click simplicity. Set up recurring invoices for your finance clients and safely store credit card info so you have one less thing to keep track of.
Yes, switching from other accounting apps or products to Wave is easy! See our step-by-step guide on how to import bookkeeping data into Wave here. Have an eye on the big picture so you can make better business decisions. Our robust small business accounting reports are easy to use and show month-to-month or year-to-year comparisons so you can easily identify cash flow trends.