Wave Pricing and Features: Accounting Software Review

Overview

Wave Payroll is the payroll product of Wave Financial, a Canadian small-business software company backed by H&R Block that says it has helped more than 5.9 million small business owners in the US and Canada since 2010^[21]. Wave is best known for its free accounting software, and payroll is one of its paid add-ons.

For customers signing up after 2 April 2025, US payroll costs a US$40 base fee plus US$6 per active employee and US$6 per contractor paid; in Canada it costs C$25 plus C$6 per employee or contractor, in every province and territory except Quebec^[20]. Wave now offers its tax-filing service in all 50 US states at the same price, having previously offered it only in some states; existing customers in states that newly gained the service saw a price increase^[20]. After the first payroll is processed, customers can use the service for up to 30 days without commitment^[20]. Payroll entries post into Wave’s accounting ledger. The product is aimed at very small employers and has limited HR, benefits and time-tracking features compared with larger providers.

Wave features

Free unlimited invoices and bookkeeping
Online card and bank payments
Auto-import of bank transactions (Pro)
Receipt capture (Pro)
Automated payment reminders (Pro)
Mobile invoicing app
Unlimited invoices and estimates (free)
Automatic reminders (Pro)

Wave pricing

Starter: US$0; card payments 2.9% + 60¢ (Amex 3.4% + 60¢). Pro: US$19/month or US$190/year (CA$25 or CA$250); card payments 2.9% + 0¢. Promotion at review: 50% off Pro for 3 months.

Wave strengths and limitations

Strengths

Free plan with unlimited invoicing
Low-cost Pro tier
Integrated payments and payroll
Unlimited invoices on free plan
Accounting included
US and Canada support

Limitations

Bank feeds only on paid plan
US and Canada only
Limited features for growing firms
60-cent fixed card fee
Reminders only on Pro
ACH fees not shown on pricing page

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Backer	H&R Block
Users since 2010	5.9 million+ (company figure)
Markets	US and Canada
Pricing	US$40/month + US$6/person
Ownership	Backed by H&R Block
Users	5.9 million+ small business owners (company figure)
Provider	Wave Financial (backed by H&R Block)
Entry price	From US$149/month
Operating since	2010
Founded	2010 (operating since)
Customers	5.9 million+ small business owners (all Wave products)

Wave