To use Wave’s payroll feature to pay employees or contractors, set up your payroll profile. Click Payroll application in the left-side menu to start setup. Complete each section in order, as some sections only appear once you have finished previous ones. You must complete all sections. Once your application is approved, you can start running payroll.
At any time during the application process, you can click the Return to setup button in the top-right corner to return to the main application page. Once your application is approved, you can return to edit any section by clicking Manage settings in the top-right corner.
Step 1: Open your payroll setup page
When you first begin using Wave’s payroll feature, your Payroll setup page is where you will complete your payroll application. Once your setup is complete, your Payroll Dashboard becomes the page where you run payroll.
To begin your payroll setup, on the left-side menu, click Payroll > Payroll setup.
Step 2: Add a company signatory
Enter the details of the individual in your business who has signing authority on behalf of the company.
To add a company signatory, you must have the following information:
- Their full name
- Home address
- Job title
- Date of birth
- Phone number
- Email address
- SSN/ITIN
Learn how to add or edit your company signatory.
Step 3: Agree to the payroll terms of service and authorize direct deposit
Wave partners with Check to provide payroll and tax services in the US. To use payroll with Wave, you must agree to Check’s Terms of Service and allow direct deposit. Click Authorize, review and check the boxes next to the terms of service and debit authorization, then click Continue.
Step 4: Enter your business details
To fill in your business profile, to the right of Business, click Add details, then Okay, let's go. For this section, you will need:
- Legal name and DBA, if applicable
- Industry and business structure (corporation, S-Corp, partnership, sole proprietorship)
- Business phone number and email address
- Business address
- Existing payroll history, if applicable
- Pay schedule
- Payroll funding account information
Click Get started and follow the prompts to enter your business information.
Step 5: Set an employee pay schedule
A pay schedule determines how often you will pay your employees. To set your pay schedule, click Set schedule. Learn more in Set your payroll schedule.
Step 6: Add a payroll and tax funding account
The bank account you connect to here will fund your payroll and tax payments. You must connect a business checking account for payroll funding. Attempting to connect an unsupported account type will result in an error. The bank account must also be able to process transactions in USD. Learn more in Add or update your payroll funding account.
Step 7: Add your employees and contractors
If you have employees, add their information so Wave can accurately calculate their pay, and so they can be added to future payrolls.
Add all employees that you paid this year, even if they are no longer active on your payroll. Enter all employees’ wages and taxes in your payroll history to ensure the tax forms Wave generates for your business are correct.
You need the following information for each employee:
- Name
- Home address
- SSN
- Date of birth
- Email address if you want to invite them to access their payroll information in Wave
- Date of hire
- Working location
- Wage type and amount
- Banking information, if you plan on paying your employee(s) with direct deposit
- Vacation policy
Learn how to add an employee to payroll.
If you pay contractors, add the details of contractors you paid in the calendar year, even if you no longer need them. This will ensure that all required 1099-NEC’s will be generated at tax time.
Step 8: Fill in your business tax profile
This step enters your business withholding rates and tax schedule. Next to Tax profile, click Add details. In a pop-up, you will be notified of the federal and state forms needed to complete your profile. To complete this section, you will also need your Federal Employer Identification Number (FEIN) and state tax identification numbers.
Learn more in Complete your tax profile.
All businesses are automatically set to file Form 941 on a semi-weekly IRS deposit frequency. If your business must file Form 944 or at a different frequency, our Support Team can update your profile. Once your payroll is active, open Mave, Wave’s automated chatbot, and ask to speak to the Support Team.
Step 9: Enter your payroll history
This section only appears if you selected "Yes" to having prior payroll when entering your business details.
If you have run any payrolls outside of Wave within the calendar year, enter the wages and taxes paid into Wave. This allows Wave to accurately calculate them going forward. Find detailed instructions in Enter payroll history.
Step 10: Authorize tax payments and filings
To complete the payroll setup, you must authorize Wave to handle your tax payments and filings. Next to Get automatic tax filings and payments, click Authorize.
For the first step, you must complete an identification verification and submit a live photo of yourself for liveness verification. Once verified, sign your authorization forms.
Learn more about authorizing tax payments and filings with Wave.
If you authorize tax service in the middle of a quarter, you will receive an email notifying you of an upcoming payment for taxes due earlier in the quarter. If you have already made these payments, reach out to our Support Team. Open Mave, Wave’s automated chatbot, and request a Support Agent.
Submitting your application
Once you have completed all the required steps, click Submit application at the top right. Clicking this triggers a Review and submit pop-up. Ensure that all information is accurate before submitting the application.
After submission, you will see an In-review page, which will remain until your payroll application is approved. The review process typically takes about 1-2 business days. You may also see a verification document request banner here.
Once your payroll is approved, the Payroll dashboard/Run payroll page will appear in the left-side menu.
Now that your payroll is set up, learn how to approve a payroll.