Starting at $20 a month (plus $6 per payee), Wave Payroll is cheaper than any other option on our list. Along with automatic payroll tax calculations and filing, that low price gets you several tax reports, an employee self-service portal, automatic ROE (record of employment) form submission, and T4/T4A tax forms. Wave doesn’t offer benefits add-ons, but it does include benefits and workers compensation top-up calculations.
Wave’s best (and most cost-effective) feature, though, is its integration with Wave’s free accounting software. In fact, Wave Payroll and Wave Accounting together cost about the same as QuickBooks Online’s cheapest small-business accounting-only plan. If you’re looking to save on overall business expenses, Wave Payroll is a good place to start.
Unfortunately, Wave Payroll isn’t available in Quebec. Additionally, its software is pretty bare bones compared to most of the providers on our list. For instance, Wave Payroll doesn’t have an autopilot option, mobile app, or HR and benefits add-ons. Finally, its accounting software works best for small businesses with just a few employees. Unless that describes your business, you won’t benefit much from Wave’s biggest perk: its accounting software integration.