HotSchedules and Fourth Payroll and Benefits vs. Payroll by Wave

Overview
ProductRatingMost Used ByProduct SummaryStarting Price
HotSchedules and Fourth Payroll and Benefits
Score 8.0 out of 10
N/A
The Payroll and Benefits solution from HotSchedules, now powered by Fourth, is built specifically for restaurants and hospitality, and allows users to manage multiple employments, varying pay rates, shift work, variable hours, temporary staff, and PTO. Users may optionally outsource payroll to HotSchedules & Fourth.N/A
Payroll by Wave
Score 9.9 out of 10
N/A
Wave Accounting headquartered in Toronto now offers Payroll by Wave, a payroll app for small businesses.N/A
Pricing
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Editions & Modules
No answers on this topic
No answers on this topic
Offerings
Pricing Offerings
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Free Trial
NoNo
Free/Freemium Version
NoNo
Premium Consulting/Integration Services
NoNo
Entry-level Setup FeeNo setup feeNo setup fee
Additional Details——
More Pricing Information
Community Pulse
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Top Pros
Top Cons
Features
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Payroll Management
Comparison of Payroll Management features of Product A and Product B
HotSchedules and Fourth Payroll and Benefits
8.0
1 Ratings
2% below category average
Payroll by Wave
9.4
5 Ratings
14% above category average
Pay calculation8.01 Ratings10.05 Ratings
Salary revision and increment management8.01 Ratings9.55 Ratings
Support for external payroll vendors00 Ratings9.03 Ratings
Off-cycle/On-Demand payment00 Ratings9.03 Ratings
Benefit plan administration00 Ratings9.01 Ratings
Direct deposit files00 Ratings9.05 Ratings
Reimbursement management00 Ratings10.02 Ratings
Best Alternatives
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Small Businesses
Patriot Software
Patriot Software
Score 9.3 out of 10
Patriot Software
Patriot Software
Score 9.3 out of 10
Medium-sized Companies
Paypro Workforce Management
Paypro Workforce Management
Score 9.6 out of 10
Paypro Workforce Management
Paypro Workforce Management
Score 9.6 out of 10
Enterprises
Infor Human Resources
Infor Human Resources
Score 7.1 out of 10
Infor Human Resources
Infor Human Resources
Score 7.1 out of 10
All AlternativesView all alternativesView all alternatives
User Ratings
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Likelihood to Recommend
8.0
(1 ratings)
10.0
(6 ratings)
Likelihood to Renew
-
(0 ratings)
10.0
(1 ratings)
Usability
-
(0 ratings)
10.0
(1 ratings)
Support Rating
-
(0 ratings)
8.9
(2 ratings)
User Testimonials
HotSchedules and Fourth Payroll and BenefitsPayroll by Wave
Likelihood to Recommend
HotSchedules and Fourth
Hot Schedules/Labour Productivity has been very useful in helping with sales forecasting, utilizing past data combined with weather and national events; however its allocation of staffing is very generic across a large brand, so not much scope for the software to 'learn' what works well for individual sites - e.g. where one restaurant may need 2 people to cover their peak, another may need 4, to account for things like prep, restaurant layout, etc.
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Wave
Great for small business payroll needs. Reports and taxes are taken care of, everything is automated and once you're set up it's literally just a matter of minutes to run payroll each time. You also get email reminders which is helpful. There are premium features available for companies with larger/more robust needs, and I would definitely recommend looking into this software if you are searching for a user friendly payroll solution
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Pros
HotSchedules and Fourth
  • Personal Information Storage
  • Forecasting
  • Labour Costing
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Wave
  • An intuitive, clear UI helps you know where everything is, what options are at your disposal. Calendars and timelines show that Wave really thought out how to provide you with useful tool.
  • Pay day can be automated and straightforward.
  • Wave onboarding provides guidance at what information to input next until you are all set up.
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Cons
HotSchedules and Fourth
  • Quicker Sales Data Importing
  • Easier Access to Employee Documents
  • Holiday information on employee end
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Wave
  • Implement an employee time clock option through a separate link which automatically applies to the weekly time sheets.
  • Option to further customize payroll statements
  • Add a per employee payroll dashboard with the option to review rolling, quarterly, and weekly snapshot. Info to include gross pay, employer paid tax, employee paid tax, etc...
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Usability
HotSchedules and Fourth
No answers on this topic
Wave
Very simple & straightforward system to learn and when time is always of the essence the efficiency is much appreciated
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Support Rating
HotSchedules and Fourth
No answers on this topic
Wave
Quick response times, personalized service. They offer in-depth videos and guides for helping to get set up. Any time I have a question about taxes or reporting, they answer quickly and give comprehensive answers. Members of the team with whom I've interacted have been courteous, friendly, and helpful. Overall, great support.
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Alternatives Considered
HotSchedules and Fourth
No answers on this topic
Wave
First is the cost. Since QuickBooks removed the inhouse solution and moved everything to the cloud, the cost for a small business is prohibited. Wave is reasonable in cost. Support for QB isn't great they are always trying to upsell and commit. Wave support in comparison is 100% better, and most of the answers are in their manual
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Return on Investment
HotSchedules and Fourth
  • More Accurate Forecasting
  • Better Daily Labour Control
  • Holiday Planning
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Wave
  • Peace of mind that all the payroll tax-related stuff is taken care of accurately and on time.
  • Easy to use interface saves time and helps ensure I am paid on time.
Read full review
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