Welcome, today we’ll be looking at Wagepoint,
an online payroll Platform designed to automate and simplify the payroll process.
This video is brought to you by TechnologyAdvice. Our mission is to educate, advise and connect
buyers and sellers of business technology and one of the ways we do this is by providing
unbiased reviews of software. Wagepoint is an easy to use payroll management
system. It has features like payroll calculations, Direct Deposit, 1099’s, w2’s, and w3’s,
reporting features, online pay stubs and more. The platform is easy to set up, and many users
have it up and running in less than a half hour.
Let’s take a look at the user interface. You can see that the first tab at the top
is labeled Company. Under this tab you will find all the information pertaining to your
company. This is where you fill in information about your company, like name, email address,
and phone number. You can also set up payroll details based
on geographic location and what kind of paygroup, like bi-weekly, weekly, or monthly.
The next tab over in the company section is Deduction Types. This is where you can add
any company deductions for each year. Things like healthcare, vision, and Dental fall under
this category. The tab next to Deductions is Income Types.
This is where you set up income codes for your employees. Wagepoint automatically includes
some pre-established codes for you to edit to your business’s needs such as vacation
pay, regular pay, and overtime. You can also choose to create custom codes.
The final tab under Company is Pay groups. This is where you can add additional pay groups
for employees who may live in different countries, or for those with different pay structures
such as contractors. Next we will look under the employees tab.
You can manually add each employee based on information that they provide. If you have
more than 10 employees and you are migrating from another payroll system, Wagepoint offers
assistance in doing the transfer to ensure all information is transferred without a hitch.
In this area you will also fill out job information, tax info, set up Direct Deposit, set income
amount, and more. The tab next to employees is Banking. This
is where you set up your banking information to be linked to payroll. It has a self verification
process to allow for easy setup. After you set up your banking you move on
to tax information. This is where you set up federal tax rates and payment frequency.
You can also access company tax documents, and set up the transition if you started using
Wagepoint mid quarter. Under the Payroll tab you can set up paygroups
with paydates, review hourly employees and salaried employees payroll, and process the
payments. The last tab is Reports. In this section you
can review different types of reports including quarterly reports and yearly.
Price Wagepoint advertises a Simple, no-nonsense
pricing for their platform. The base fee is $15 and you add $2 per employee. It comes
with 10 state and local taxes. To add additional state and local taxes it is $2 per payee.
Limitation A limitation we noticed while reviewing Wagepoint
is its lack of integration with other software; however,integrations are currently in development.
Also many of the tax code inputs can be confusing but Wagepoint’s customer service team coached
us through that process. Summary
In summary, Wagepoint helps businesses: Process hourly and salaried payroll quickly
Securely automates payroll and manages it in an effective way
and provide electronic pay stubs, tax information, and wage detail reports to employees and management
All while providing floating customer support throughout the process.
Wagepoint provides an easy to use payroll management system that will effectively handle
all your payroll and tax reporting needs. To find out more about wagepoint or other
payroll software, check out our website TechnologyAdvice.com where we can help you find technology that
will fit the needs of your work-place. Thanks for watching!