Wave: Small Business Software Wave Financial

While Wave Payroll nails payroll basics, businesses seeking a more comprehensive HR solution might feel underwhelmed. The platform lacks advanced abilities, like talent and performance management and advanced data analytics. One of Wave Payroll’s more notable drawbacks is its focus exclusively on U.S. and Canadian businesses. Similar easy-to-use competitors like Gusto provide global support. So, if you need multinational paycheck processing, Wave won’t fit the bill.

Employee-facing appeal

Today’s leading accounting platforms offer standard security features, such as data encryption, secure credential tokenization and more. While human error will always play some role in security breaches, you can be confident in your accounting platform when it comes to keeping your information safe. We research, accrual accounting evaluate, and test each payroll software app that we review at Merchant Maverick, placing special emphasis on key characteristics to generate granular ratings.

1. Approval to use online payments is subject to eligibility criteria, including identity verification and credit review.
2. However, that’s not to say that Wave Payroll is bad payroll software.
3. Similar easy-to-use competitors like Gusto provide global support.
4. With Wave, you’ll be able to send unlimited, customized invoices to your customers, manage an unlimited number of expenses and track unlimited receipts through its receipt scanning and capture feature.

And similar to Wave Payroll, Gusto also showcases a beautiful, user-friendly interface. This perk means you don’t have to sacrifice functionality for visual appeal. In these areas, Wave calculates your tax liability for you, though you still need to submit your tax paperwork manually. Wave keeps up to date records so you’ll always have the info you need for filing – or sharing with your accountant. The vendors that appear on this list were chosen by subject matter experts on the basis of product quality, wide usage and availability, and positive reputation.

Wave Payroll’s pricing

Discover BusinessLoans.com’s lender network offering up to $3M in funding, no minimum credit score required. It’s been one of the best decisions I’ve made when it comes to making sure my accounting is on point. “It’s not just a cool piece of software, it is giving peace of mind to people.” You deserve to know your taxes aren’t something you have to sweat over the entire calendar year.” “Wave invoicing makes your life a whole lot easier and takes that worry off you. I’ve tried Quickbooks—it’s a bit more complicated and technical, and takes more time to set up.” Keep compliant and save time by having Wave handle your Canada Revenue Agency tax remittances on your behalf.

Payments

On the contrary, it’s a great payroll software for businesses with basic payroll needs. Additionally, Wave is perfect for small businesses already using Wave products or businesses looking to integrate simple accounting software with payroll software. Wave Accounting is ideal for micro businesses with fewer than 10 employees, contractors, freelancers and other service-based businesses on a budget. The financial management software is user-friendly and equipped with all the basics, including income and expense tracking, invoicing and reporting. Create beautiful invoices, accept online payments, and make accounting easy—all in one place—with Wave’s suite of money management tools. Our invoicing, online payments, accounting and bank connection features give you a unified view of your income and expenses – no need to log in to multiple apps or tools.

So, even though Wave boasts a beginner-friendly concept, the platform surprisingly leaves you out to dry regarding non-cash compensation. One click on the “Review & Pay” button in your invoice email. By providing feedback on how we can improve, you can earn gift cards and straight line depreciation get early access to new features.

Enjoy zero annual or late fees, 1.5% cashback on all business purchases, and a flexible credit limit with the Stripe Corporate Card. Wave Payroll doesn’t offer much for benefits administration; you won’t be able to handle anything beyond worker’s compensation benefits through Next Insurance within the platform. Customers in the other 36 states are consigned to Wave Payroll’s self-service package by default and must handle payroll taxes by themselves. Join the thousands of people like you already growing their businesses and knowledge with our team of experts.

Explore more details on the competition in our full roundup of the best accounting software for small businesses. Also, Wave Accounting only offers self-serve customer support. If you have a question or issue, you can browse the help center making payments late payments and filing extensions or reach out to Mave, the automated chatbot. If you do want live support, you’ll need to invest in an Advisor or paid service. 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.