TrustRadius: an HG Insights company

Payroll by Wave

Score10 out of 10

11 Reviews and Ratings

Get a Demo

What is Payroll by Wave?

Payroll by Wave is a cloud-based payroll management solution that caters to small businesses. Designed to simplify and automate payroll processes, Payroll by Wave helps businesses stay compliant with taxes and deductions while providing accurate pay stubs and reports. With features like tracking and managing vacations, benefits, and overtime accurately and efficiently, this software streamlines the entire process of calculating employee salaries.

Payroll journal entries are automatically recorded in a seamless connection with other accounts in a Wave account. Utilizing support for direct deposits allows users to make payments promptly to employee bank accounts reliably without any extra effort on their part. In addition, employees can access their pay stubs securely through the platform's portal along with tax forms that they may require for filing their own returns.

Overall, Payroll by Wave grants companies greater efficiency when it comes to calculating employee compensation. Backed by a 100% accuracy guarantee which ensures confidence in tax remittances as well as issuing pay stubs, new hire reporting, year-end tax forms etc., this tool saves time while making sure employers handle payroll matters correctly—every time.

Categories & Use Cases

Key Features

Learn about the best (and worst!) features Payroll by Wave has to offer, as determined by TrustRadius' reviewers.
Based on 11 ratings of Payroll by Wave's features
View all features

Top Performing Features

  • Pay calculation

    Pay calculation provides for computation of employee pay with state and federal deductions.

    Category average: 9

  • Reimbursement management

    Reimbursement management provides cash reimbursement for employee expenses related to business travel or other.

    Category average: 8.1

  • Salary revision and increment management

    Salary revision is the ability to modify individual employee pay.

    Category average: 8.7

Areas for Improvement

  • Off-cycle/On-Demand payment

    Provide employees access to wages accrued during the pay period before the end of the pay cycle.

    Category average: 8.4

  • Benefit plan administration

    Benefit plan administration is administration of health insurance plans and 401k plans, and other benefits.

    Category average: 7.9

  • Direct deposit files

    Direct deposit is the ability to electronically transfer pay to an employee’s personal bank account.

    Category average: 9

Reviews

What users are saying about Payroll by Wave.
View all reviews

Payroll by Wave is a Simple Solution At A Reasonable Rate. Give it A Look

Incentivized
Matthew GehrmanView profile
Agency Principal in Sales at CityScape Insurance (1-10 employees employees)

Use Cases and Deployment Scope

Employee Payroll by Wave services are used for automatic payroll payments and tax payments. The Payroll by Wave product also provides necessary documents such as 941 forms for audit purposes.

Pros

  • Payroll by Wave processes quickly and deposits to employee accounts automatically
  • Simple process to review time sheets, bonuses, commissions, etc...
  • Provides detailed reports

Cons

  • Implement an employee time clock option through a separate link which automatically applies to the weekly time sheets.
  • Option to further customize payroll statements
  • Add a per employee payroll dashboard with the option to review rolling, quarterly, and weekly snapshot. Info to include gross pay, employer paid tax, employee paid tax, etc...

Return on Investment

  • Affordable payroll service in comparison to other payroll companies
  • Efficient system saves me time when running our bi-weekly payroll

Alternatives Considered

Paychex Flex, Gusto, Intuit Online Payroll (discontinued) and ADP Streamline Payroll

Other Software Used

Salesmate, Dropbox Sign, Google Ads, Leadpages

Usability

pay with WAVE

Incentivized
Verified User
Executive in Marketing (1-10 employees employees)

Use Cases and Deployment Scope

Since our days with QuickBooks, we switched to WAVE. It's always accessible. easy to use and works great with reports. Slight but not too difficult learning curve. We also use WAVE for other accounting work.

Pros

  • easy to use
  • has been very reliable.
  • good transaction reports
  • clean interface, no confusion

Cons

  • Could offer automatic tax filing
  • maybe not good for growing business

Return on Investment

  • Personal Support,
  • Don't care for the pop up bot
  • Takes a good few minutes to understand how reports are calculated

Alternatives Considered

QuickBooks Desktop Enterprise

Other Software Used

Wave Accounting, Norton Small Business, Kofax PaperPort

Global leader in payroll managment.

Incentivized
Grace JonesView profile
Project Specialist in Corporate at Unilever (1001-5000 employees employees)

Pros

  • It has a simple user-interface and fits perfectly in our organization.
  • It's efficient and helps us update our payroll and ensure employee dues are paid on time.
  • Customer support is available and willing to help all the time when one gets stuck somewhere using the plan reliably.

Cons

  • Sometimes poor internet connections impede on the proper working of the platform.

Return on Investment

  • Payroll preparation is swift.
  • Assures prudent usage of our financial resources.

Payroll by Wave: catch the wave of easy payroll administration!

Incentivized
Alex PeggView profile
Owner at Alex Pegg Photography (1-10 employees employees)

Pros

  • Time-saving: Everything is saved from one pay period to the next so it's very easy to click and run.
  • Great price: Perfect for smaller businesses who don't need the extra bells and whistles
  • Customer support: Any questions are addressed quickly, set up was a breeze.

Cons

  • Can't think of any!

Return on Investment

  • Peace of mind that all the payroll tax-related stuff is taken care of accurately and on time.
  • Easy to use interface saves time and helps ensure I am paid on time.

Alternatives Considered

Wagepoint

Other Software Used

Zoom, Facebook Pages Manager, Google Drive

Makes payroll dead simple for small businesses

Incentivized
Ryan ConnollyView profile
President in Corporate at Red Ape Media (1-10 employees employees)

Pros

  • Simplified payroll filing.
  • Easy to add/edit/remove employees.
  • Integrates perfectly with my Wave bookkeeping.

Cons

  • Additional filings such as WorkSafe, etc.
  • More flexibility when it comes to paying a director.

Return on Investment

  • Ensuring that I am compliant with my payroll obligations.
  • Less time spent on managing employee payroll.

Alternatives Considered

Wagepoint