Payroll by Wave: Upgrades and Active Employee-Based Pricing

We’re rolling out new features, and we’ve updated our Payroll pricing structure to give you more visibility and control. These updates go into effect on September 1, 2018. Here’s what you need to know.

What’s changed?

We’re introducing Active Employee-Based Pricing, so you’ll always know exactly what you’re paying for. Your monthly price is calculated as a payroll base fee, plus $4 per month per active employee.

Payroll base fees:

US tax service state: $35 per month

US self-service (no tax service): $20 per month

Canada: $20 per month

What’s an active employee? An employee is considered active if they’re currently working for your business and are not on short- or long-term leave. If an employee goes on leave or no longer works for your business, make sure to indicate that on the Employees page so you won’t be charged for the months they’re not working.

What does this look like in practice? As an example, let’s say that in October, your Wichita-based business has three active employees. You'll pay $32 for payroll that month. (That's a payroll base fee of $20, plus $4 x 3).

Next month, one employee goes on leave. Once you've indicated that in Wave, you’ll pay $28 for payroll in November. (The same payroll base fee of $20, plus $4 x 2 employees).

Maintaining up-to-date active employees in Wave helps you keep accurate employee records, which in turn keeps your business compliant. It also ensures you’re paying the correct amount for Payroll each month!

What else is new?

  • Increased visibility and troubleshooting capabilities for Payroll direct deposit.
  • Control employee status and information in one convenient place.
  • Let Wave assist with compliance. If your business is located in a US state where we offer tax services, Wave can file a new-hire report with your state agencies.
  • Coming fall 2018, US employers can pay contractors with direct deposit and generate 1099 forms.

These upgrades and price changes go into effect on September 1, 2018. Make sure to update your employees' status before then, so you'll be charged for the correct amount. And remember that accounting, invoicing, and receipts by Wave are still 100% free!

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