What is Wagepoint?
Industry Specialties: Serves all industries.
Wagepoint is an online payroll solution that tracks and manages income. Designed for small businesses, it can compensate salaried, hourly or contracted workers. Users have easy access to W2s and pay stubs, even after termination. It also handles new hires, multiple forms of payment, direct deposit, extra income, tax forms and more.
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Benefits and Insights
Why use Wagepoint?
Key differentiators & advantages of Wagepoint
- Improves Communication: It takes fewer conversations to access important tax info. Users can download W2s, 1099s, pay stubs and other forms.
- Saves Time: Accounting, administrative and executive staff can get information from one source rather than tracking down data from individual spreadsheets.
- Provides Peace of Mind: It can automatically calculate and send taxes to keep up with local and federal regulations.
- Fewer Late Fees: The fully automated processes can cut down on fines, reconciliations and other penalties.
- Less Administrative Work: It lets executive, administrative or accounting staff skip menial data entry. This allows for more time to analyze overall company trends.
Wagepoint is a Canadian startup that operates worldwide. One report, Astonishing Growth of Online Payroll Service Market 2020, listed it as a major industry player. In the mid-2010s, the company gained notoriety because of its work with Bitcoin technology. Paying in Bitcoin is no longer available on the platform because of the shutdown of third-party vendor Buttercoin.
It was a Stevie Award for Sales & Customer Service winner in 2015 and 2016. The following year, the business raised $2 million in funding from the tech investment firm TIMIA Capital. Wagepoint’s CEO, Shrad Rao, shares expert opinions in publications such as The Huffington Post, Mashable, The Globe and Mail and more.
- Payroll Capabilities: It can pay multiple groups simultaneously, including salaried, hourly or contracted workers. Users can add multiple pay groups for multiple schedules. It also calculates the gross-to-net amount when given the gross pay.
- Mobile App: Employers and employees can conduct transactions, answer messages and more through the mobile app.
- Auto-Approve: Pre-established payments are auto-approved. This can calculate taxes, workers’ compensation and more.
- Security: It’s hosted through the Amazon Web Services cloud and supports international expansion. The connection is secure with a 256-bit SSL encryption.
- Integrations: It integrates with accounting, HR and other team management solutions including QuickBooks, LessAccounting, T-Sheets, Slack, Deputy and more.
- Direct Deposit: It can approve direct deposits four days prior to the pay date. Funds get deposited in the company’s bank account and debited to all employees and contractors.
- Taxes: The platform can auto-calculate, pay and pull reports for the IRS. At the end of the year, it will populate info to W2s and 1099s and submit them by January 31st. Staff can then view and print the documents.
- Deductions: It can automatically calculate the pay and tax ramifications for deductions on employee paychecks including 401K contributions, parking and health care.
- New Hires: The solution reports new hires to the state directory, according to state and federal laws. It can automatically send the documents.
- Other Income: It can add income and account for the tax ramifications such as commissions, bonuses, overtime/holiday pay or expenses.
- Workers’ Compensation: It offers pay-as-you-go workers’ compensation called E-Comp. It has no deposit or down payment, and it bases premiums on the actual payment amounts rather than the estimated amount.
- Attendance Tracker: Track is an add-on that tracks attendance. It's made by the same company and lets users clock-in and out, review and approve time, send reminders, track overtime and more. It gets transferred back to the main solution to calculate payment.
- Time-Off Manager: Luna is an add-on made by the same company. Users can request time off, approve requests, look at a responsive calendar for upcoming employee vacation and more. This information is then ported to the main solution.
Wagepoint has a floating support box on the website for users to get help and submit tickets. They can also call the customer service number or fill out an online form. The website also offers an interactive map that reveals different laws and rules for payroll taxes across the U.S.
mail_outlineEmail: It doesn’t have an all-purpose email, but there is an online form on the website.
phonePhone: Support is available at (877) 757-2272.
schoolTraining: There doesn’t appear to be extra training available for using Wagepoint.
local_offerTickets and Live Chat: There’s a support ticket and live chat available through the website.