WagePoint’s payroll software efficiently manages various tasks such as direct deposit, workers’ compensation administration, and fee-free tax remittance, offering a cost-effective solution. The software is highly suitable for small firms in Canada that prioritize fully automated payroll processes and value practical integrations, thanks to its user-friendly interface and affordable initial cost. Learn more about their pricing, payroll, features, and competitors in the WagePoint review that follows.
Wagepoint
Small and medium-sized enterprises can streamline payroll procedures and stay in compliance with payroll laws by using the cloud-based payroll platform Wagepoint.
What features does WagePoint offer?
Essential elements for effective payroll management are included in WagePoint. It provides capabilities tailored to the industry, such as time tracking and scheduling, which are especially helpful for the hotel and retail industries. WagePoint also maintains compatibility with add-ons and other programs, boosting the software’s adaptability.
Advantages of WagePoint
Businesses can significantly improve their payroll handling by utilizing WagePoint. Complex operations are made simpler, which helps save time and lighten the administrative burden. Businesses may have peace of mind knowing they are in compliance with all applicable payroll regulations and laws thanks to its wide range of features.
WagePoint Benefits
WagePoint is a significant payroll software solution due to its many benefits. Here are a few of the most frequently mentioned advantages:
- WagePoint has been created with an emphasis on ease of use. This allows users of all technological abilities to browse the software and utilize its features.
- Accurate Automatic Calculations: Automatic calculations in WagePoint reduce payroll errors, freeing up time for other company tasks.
- Customer service that responds quickly: WagePoint’s rapid and excellent client assistance ensures minimal company disruption.
WagePoint Drawbacks
WagePoint is a capable piece of software; however, there are a few places where it falls short. Here are a few of the drawbacks that are most frequently mentioned:
- Some users have reported sporadic issues, and these may momentarily affect the software’s functionality.
- User Interface: To make the user interface of the program more understandable and visually appealing, several users have suggested making some changes.
Wagepoint Payroll
Wagepoint offers a variety of services, each with a different methodology, to streamline your administrative workload. The software makes it easier for you to effectively track salaries, payroll computations, and deductions, as well as pay your employees (and independent contractors).
#1. Pay stub processing
Wagepoint’s payroll processing services make it easy for employees to get checks or direct deposits. The system makes it easy to access full-time, salaried, and independent contractor personnel information. Best of all, everything you need is available through a single, straightforward interface, so you don’t need to jump between application sections to manage personnel categories.
#2. Year-end reporting and taxes
Every time you process payroll using Wagepoint, payroll taxes are calculated and collected. It will also submit taxes and files on your company’s behalf based on the filing and reporting schedule. Additionally, Wagepoint automatically creates W-2s and 1099s at year’s end and submits them to the IRS. The online worker portal allows both workers and contractors to see their respective W-2s or 1099s from the previous year.
#3. Access to pay stubs online
With Wagepoint, employees are no longer required to hold onto paper paystubs or rush to you for access when they need one. Employees can view their salary information via the platform at any time and from any location. With the press of a button, this can reduce inefficiencies, increase employee happiness, and save time. Wagepoint offers two add-on solutions to help owners of small enterprises track requests for time off and employee timesheets in addition to managing payroll. Among them are the following:
- The Luna compensated time off management tool makes it simple and effective to keep tabs on paid time off. Users don’t need to create their own calendars in order to monitor and handle requests for time off from their workforce. Employees submit requests using the Luna framework, and if they are accepted, their vacation days are shown on an international calendar so that everyone is aware of the whereabouts of the remainder of the team. To begin, all you have to do is incorporate Luna into your current Wagepoint ecosystem.
- Many small business owners rely on crude methods of keeping track of staff hours. These initiatives occasionally take the form of spreadsheets, emails, or sign-in sheets on paper. You can monitor your employees’ clock-ins and clock-outs in addition to their overall hours worked thanks to Wagepoint’s Track function. This makes it even simpler to ensure that your employees are paid the correct amount for their labor and saves you from having to spend extra time manually entering data into Wagepoint from other sources.
Wagepoint Pricing
Wagepoint is transparent about its price: There are no contracts, end-of-year expenses, or hidden fees.The platform (Wagepoint) provides a single, straightforward pricing strategy rather than letting potential consumers jump through hoops. Your business can join WagePoint for the price of $20 per month, plus an additional $2 per employee. There are no service tiers or complex prices—just that. Remember that this configuration is for biweekly employment payments; weekly payroll on Wagepoint has a basic price of $10, and quarterly payroll has a base price of $75 on Wagepoint. Furthermore, there will be an extra charge for using either Track or Luna. Each of these extra applications on Wagepoint is priced at $20 per month for a maximum of six people and $3 per person for a minimum of eight. You will only be responsible for paying for workers who have assigned plans with Track or Luna.
Wagepoint Reviews
It can be challenging to decide which Wagepoint review is the best representation of what it has to offer because there are so many of them available. Most of them concentrate on the same fundamental elements of the application, like its simplicity, adaptability, and straightforward setup procedures. Even if Wagepoint doesn’t always receive flawless ratings, many of its users have positive things to say about it. Here is a summary of what a typical Wagepoint review looks like.
Positive first
Most Wagepoint users like the platform due to how simple it simplifies the payroll process for their business. Many reviews give Wagepoint high marks for its user interface, with the majority praising it for being simpler to operate than a lot of its competitors. Some reviews even says that they don’t fear processing payroll as a result of how user-friendly Wagepoint’s interface is. Other critics praise Wagepoint for making information easy to find on the platform. Since employee data is readily kept in the cloud, there is no risk of data loss in the event that on-site servers fail or important documents disappear in a filing cabinet. Employers adore being able to quickly and easily obtain information concerning pay. On the whole, the majority of reviews are generally pleased with their experience with Wagepoint, especially with how effectively the system functions and how few problems it encounters along the way.
2. Adverse
Although the majority of reviewers give Wagepoint high marks, some current users give the platform some unfavorable remarks. When it comes to paying out for time off, several reviews have criticized Wagepoint as being on the slow side. Paying for vacation time hourly rather than daily makes it hard to provide. As a result, setting up your employees’ paid time off from a payroll standpoint may take a little while. Other reviews have a few issues with unusual garnishments and reporting tools, for example. Even so, there is a caveat: Wagepoint staff are accessible and quick to respond to user questions and concerns.
Wagepoint Competitors
Here are the top 5 competitors to take into account if you’re attempting to decide if Wagepoint is the best choice for your business or if another platform can provide a superior solution for your needs.
#1. Paychex Flex
The online system Paychex Flex, which is a market leader in payroll processing, has a reputation for offering efficiency that is defensible by a decade. Without having to be a medium or larger firm, Paychex Flex, as a major Wagepoint competitor, gives small business owners the opportunity to work with a leader in the payroll management industry with a long history and track record of reliability. This product offers small businesses payroll and HR support, including benefit management and planning, as well as other useful tools to help them function without having to hire their own full-fledged payroll team. Paychex Flex’s product page doesn’t provide pricing information, making it difficult to estimate costs without getting in touch. For information on how much an account might cost for your business, it is preferable to get in touch with a Paychex Flex representative.
#2. Gusto
Beginning and advanced payroll processors and computer users find this Wagepoint competitor simple and easy to use. Gusto’s primary capabilities, payroll administration and tax management, combined with a variety of other tools to assist in managing your company’s HR difficulties, are its main advantages. Unlike Wagepoint, the Gusto Basic plan has a price of $40 monthly fee, with an additional $6 for each employee on the system. Each additional employee in the system adds an additional $12 to the monthly cost of the Plus package, which offers numerous more HR programs for $80. With credentialed HR professionals on hand to help you with every one of the HR-related questions that may arise, Gusto Premium provides a high-touch level of assistance. Quote-based pricing is used for this plan. Contractor-only companies also have a choice with Gusto; they only have to pay the $6 per employee cost; there is no base fee.
#3. QuickBooks Payroll
QuickBooks Payroll is another Wagepoint competitor to consider. For small businesses, payroll software from QuickBooks is an easy-to-use account management tool that aids in tracking sales and invoice creation. The user-friendly interface of QuickBooks Payroll also allows someone to forego extensive expertise in financial or accounting-related chores. By connecting a user’s bank account, integrated QuickBooks Mobile capability may automatically import and classify transactions. Additionally, this accounting software aids businesses in maintaining operations, accessing accounts, and being up-to-date at all times. Businesses may create bespoke, expert invoices and receipts for sales that include precise estimates thanks to QuickBooks Payroll. Organizations can schedule recurring payments using this program to save time. Businesses may even track billed time by client or worker with the use of QuickBooks Payroll.
#4. Papaya Global
This Wagepoint competitor is an online payroll administration tool that aids multinational companies in managing global payroll, contractors, and international payments. Security of data, cost breakdown analysis, keeping records, and benefit administration are just a few of the software’s essential functions. This program streamlines hiring across several jurisdictions and nations and manages payments and classification for both domestic and international contract workers, utilizing a party EoR (employer of record). Managers can also automate payroll procedures in several currencies and monitor employee spending on a single dashboard. Additionally, employees can access their payment receipts in their local language through a secure gateway. Papaya Global Software’s Payroll, Global, EoR, Contractor Administration, and Parallel Analytic Suite Plans use a subscription service and quotation-based pricing models.
#5. ADP Vantage HCM
The ADP Vantage HCM application offers a highly scalable human capital management solution that can benefit any size of business. All significant tasks that HR staff monitor or handle, including payroll, taxes, time and participation, insurance, benefits, ACA compliance, and retirement, can be automated, integrated, and streamlined. Users of the program are able to keep up with the latest advances in healthcare reform-related issues. The application gives reports and insights to improve decision-making. According to claims, ADP is the leading provider of HR solutions in regions such as Latin America, the Pacific Rim, Europe, and the United States. ADP Vantage HCM as a crucial competitor to Wagepoint, has a self-service platform and aids in talent management.
How Does Wagepoint Work?
Wagepoint computes the gross pay of your paid and hourly employees, deducts the required payroll taxes, and remits the taxes to the relevant agency without charging you an additional cost. Employees can obtain their tax records and review their pay information via the self-service interface at Wagepoint.
Who Owns Wagepoint?
On September 9, 2020, Providence Equity Partners acquired Wagepoint for $10 million.
How Do I Access Wagepoint?
Go to https://sso.wagepoint.com/ and input the username connected to your employee account to access the employee portal. The Account Settings > User Accounts tab allows administrators to view username information.
Who Are the Investors in Wagepoint?
Four investors provide money to Wagepoint. The most notable investors are TIMIA Capital and PSG Equity. BDC and Extreme Venture Partners are two more.
How Do I Approve Payroll in Wagepoint?
To Accept payroll:
- Enter your Wagepoint login information.
- Verify that or the system has added your employee. If otherwise, you can do it yourself or have Cycle CPA update their information for you.
- Verify the accuracy of the employee or contractor information.
- Verify that the wage rate is accurate.
- Verify the bank details the new employee uploaded.
Who Is the CEO of Wagepoint?
The CEO and President of Wagepoint is Shrad Rao.
Does Wagepoint Have an App?
Track, by Wagepoint 4+: You may import all authorized hours for the processing of payroll using Track’s complete integration with the user-friendly and straightforward payroll interface from Wagepoint.
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