Wave Payroll vs Deel (2024 Comparison)
Wave Payroll offers a user-friendly interface and seamless integration with other Wave products, making it an affordable and efficient payroll solution for small businesses.
- User-friendly interface
- Affordable for small businesses
- Seamless Wave product integration
- Limited global features
- Primarily US-focused
- Basic compliance management
Free plan?
YesStarting price
$20 per month
Deel provides comprehensive global compliance and multi-currency support, making it an ideal choice for businesses with international teams seeking seamless payroll management.
- Comprehensive global compliance
- Multi-currency support
- Wide range of integrations
- Higher price point
- Complex initial setup
- Requires understanding of global laws
Free plan?
YesStarting price
$19 per employee/monthWhat is Wave Payroll?
Wave Payroll is a comprehensive payroll solution designed to simplify the payroll process for small businesses. It offers features like automatic tax calculations, direct deposit, and employee self-service portals. This tool helps business owners save time and reduce errors by automating payroll tasks, ensuring compliance with tax regulations, and providing detailed payroll reports. With Wave Payroll, you can focus more on growing your business and less on administrative tasks.
What is Deel?
Deel is a global payroll and compliance platform that streamlines the hiring and payment process for remote teams. It offers features like automated contract generation, compliance management, and multi-currency payments. Deel helps businesses manage their international workforce efficiently by ensuring compliance with local labor laws and providing a seamless payment experience. This tool is ideal for companies looking to expand their global presence and manage remote teams effectively.
Pros and Cons of Wave Payroll vs Deel
Pros & Cons of Wave Payroll
- Wave Payroll offers an intuitive and easy-to-navigate interface, making it accessible for small business owners without extensive payroll experience. This user-friendly design helps streamline payroll tasks efficiently.
- Wave Payroll provides a cost-effective solution for small businesses, offering essential payroll features at a reasonable price. This affordability makes it an attractive option for budget-conscious entrepreneurs.
- Wave Payroll integrates seamlessly with other Wave products, providing a cohesive experience for managing finances. This integration simplifies financial management for businesses using multiple Wave tools.
- Wave Payroll primarily focuses on US payroll needs, offering limited features for businesses with international teams. This limitation may require additional tools for global payroll management.
- Wave Payroll is designed for US-based businesses, which may not be suitable for companies with international operations. This focus limits its applicability for global payroll management.
Pros & Cons of Deel
- Deel excels in managing global compliance, offering tools to navigate complex international labor laws. This comprehensive compliance management is invaluable for businesses with international teams.
- Deel offers multi-currency payment options, allowing businesses to pay employees in their local currencies. This feature is crucial for companies with international teams, ensuring seamless payroll management.
- Deel provides a wide range of integrations with popular HR and accounting tools, making it versatile for businesses with diverse software needs. This versatility enhances its functionality for global payroll management.
- Deel's advanced features and global compliance capabilities come at a higher price point, which may not be suitable for small businesses with limited budgets.
- Deel's advanced features may require a complex initial setup, which can be challenging for businesses without dedicated HR or payroll teams. This complexity may require additional resources for implementation.
Wave Payroll vs Deel: At A Glance
Wave Payroll vs Deel: A Detailed Breakdown of Key Features
Tax Calculations
Wave Payroll offers automatic tax calculations, ensuring compliance with federal and state regulations. This feature is particularly useful for small businesses that want to avoid manual errors. Deel also provides tax calculation capabilities, but with a focus on international compliance, making it ideal for businesses with a global presence. If you need comprehensive tax management for international teams, Deel is the better choice.
Direct Deposit
Both Wave Payroll and Deel offer direct deposit features, allowing employees to receive their salaries directly into their bank accounts. Wave Payroll's direct deposit is straightforward and easy to set up, making it suitable for small businesses. Deel's direct deposit supports multiple currencies, which is beneficial for companies with international employees. If you require multi-currency direct deposit, Deel is the superior option.
Employee Self-Service
Wave Payroll provides an employee self-service portal where employees can access their pay stubs and tax forms. This feature reduces administrative workload and empowers employees to manage their information. Deel also offers an employee self-service portal with additional features like contract management and compliance tracking. If you need a more comprehensive self-service solution, Deel is the better choice.
Compliance Management
Wave Payroll ensures compliance with US payroll regulations, making it a reliable choice for domestic businesses. Deel, however, excels in global compliance management, offering tools to navigate complex international labor laws. If your business operates in multiple countries, Deel's compliance management features are invaluable.
Multi-Currency Payments
Wave Payroll primarily supports US currency, which is sufficient for domestic businesses. Deel, on the other hand, offers multi-currency payment options, allowing businesses to pay employees in their local currencies. This feature is crucial for companies with international teams, making Deel the preferred choice for global payroll management.
Integration Options
Wave Payroll integrates seamlessly with other Wave products, providing a cohesive experience for managing finances. Deel offers a wide range of integrations with popular HR and accounting tools, making it versatile for businesses with diverse software needs. If you require extensive integrations, Deel is the better choice.
Pricing Comparison of Wave Payroll and Deel
We’ve compiled the pricing tables and highlighted the key features of both Wave Payroll and Deel to aid in your decision-making process. Let’s explore what each platform has to offer.
Wave Payroll Pricing Plans
- Generate W2 and 1099 forms for tax season.
- Access to employee portal for pay stubs and tax forms.
- Seamless integration with Wave Accounting software.
- Track leave time and accruals for payroll processing.
- Unlimited free direct deposits for employees.
- Priority customer support via live chat.
- Automatic payroll journal entries for bookkeeping.
- Workers' comp integration for small business owners.
Deel Pricing Plans
- Ensure compliance with global coverage and localization.
- Efficiently manage time off and expenses for employees.
- Create and customize detailed people directories.
- Build organizational charts and generate global reports.
- Comprehensive registration support across all 50 states.
- Automated federal, state, and local tax filing.
- Streamlined W-2, W-4, 1099, and new hire filings.
- Expert payroll compliance support available on-demand.
- Fast and responsive 24/7 support for users.
- Payslip creation and delivery for employees.
- Comprehensive salary and tax payment management.
- Customizable reporting for detailed insights.
- Locally compliant contracts for global contractors.
- Bulk payment options in 120+ currencies.
- Automated invoicing, expenses, and time off management.
- Deel card and flexible payment options for contractors.
- Run customized 360° feedback reviews for performance.
- Visualize results using heat maps and 9-box grids.
- Build courses easily with drag-and-drop functionality.
- AI-powered content creation for faster course development.
- State-specific tax compliance and workers' comp management.
- 360º compliance with state-specific policies and training.
- Access to Fortune-500 benefits at affordable prices.
- Centralized and customizable reporting for insights.
- 360º employee compliance with document collection.
- Competitive benefits packages tailored to each country.
- Centralized reporting on spending and compensation.
- Support from 200+ local HR and legal experts.
- Securely erase data and manage devices remotely.
- Integrate with your own MDM solution for flexibility.
- Access to SSO and identity services for security.
- 24/7 support for hardware and software management.
Our Rating Methodology
We thoroughly evaluate each payroll software, focusing on key factors like functionality, scalability, and security. By analyzing user reviews and conducting in-depth testing, we ensure our recommendations meet diverse business needs. Each factor is weighted to provide an accurate final rating, helping you choose the best tool for your payroll management.
Wave Payroll or Deel: Which One Matches Your Business Needs?
Choose Wave Payroll If You Need ...
- User-friendly payroll solution
If you are a small business owner looking for a user-friendly payroll solution, Wave Payroll is an excellent choice. Its intuitive interface and seamless integration with other Wave products make it easy to manage payroll tasks efficiently.
- Cost-effective for small businesses
If you are a small business with a limited budget, Wave Payroll offers a cost-effective solution with essential payroll features. Its affordability makes it an attractive option for budget-conscious entrepreneurs.
Choose Deel If You Need ...
- Global compliance management
If your business operates in multiple countries and requires comprehensive global compliance management, Deel is the superior choice. Its advanced compliance tools help navigate complex international labor laws effectively.
- Multi-currency payroll support
If you have an international team and need multi-currency payroll support, Deel is the ideal solution. Its ability to handle payments in various currencies ensures seamless payroll management for global businesses.
Frequently Asked Questions
What are the key differences between Wave Payroll and Deel?
Which tool is more cost-effective for small businesses?
Which tool offers better global compliance management?
How do the integration options compare between the two tools?
Which tool is easier to use for small business owners?
What security measures do Wave Payroll and Deel offer?
Martin Lunendonk
Martin Lunendonk is a senior tech writer specializing in website builders, web hosting, and ecommerce platforms. With a background in finance, accounting, and philosophy, he has founded multiple tech startups and worked in medium to large tech companies and investment banking, bringing deep expertise and reliable insights to his software reviews.
