Lendio Bookkeeping vs Wave Payroll
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
Lendio Bookkeeping
Lendio Bookkeeping is a small business bookkeeping service that pairs automated software with human bookkeepers to keep your finances organized. It also connects businesses to funding options through the Lendio lending marketplace.
Wave Payroll
Wave Payroll is a simple payroll solution built into the Wave accounting ecosystem. It is designed for very small businesses that already use Wave for accounting and want an integrated payroll solution. Wave Payroll handles direct deposit, tax payments, and W-2s, making it a natural choice for businesses already in the Wave ecosystem.
Pros
- ✓Combines software with human bookkeepers
- ✓Connected to Lendio lending marketplace
- ✓Good for businesses needing both bookkeeping and financing
- ✓Simple pricing
- ✓US-focused
Cons
- ✗Less well-known than major competitors
- ✗Limited advanced accounting features
- ✗Best value for businesses also seeking financing
- ✗US only
Pros
- ✓Seamlessly integrates with Wave accounting — no manual data transfer needed
- ✓Very affordable pricing for micro-businesses
- ✓Simple interface with minimal setup required
- ✓Free Wave accounting included with subscription
Cons
- ✗Limited features compared to dedicated payroll platforms
- ✗Tax filing is only automatic in select states — manual filing required in others
- ✗No mobile payroll app
- ✗Not suitable for businesses with complex payroll needs
Lendio Bookkeeping vs Wave Payroll: Side by Side
| Factor | Lendio Bookkeeping | Wave Payroll |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Accounting Software | Payroll Software |
| Pricing Model | Paid | Paid |
| Starting Price | Contact for pricing | $20/mo + $6/person |
| Best For | Small US businesses wanting managed bookkeeping combined with easy access to business financing options | Micro-businesses already using Wave accounting that want simple integrated payroll |
| Our Pick | — | — |
Lendio Bookkeeping Features
- ✓Small business loans
- ✓bookkeeping
- ✓cash flow management
- ✓financial reporting
- ✓bank reconciliation
Wave Payroll Features
- ✓Payroll processing
- ✓direct deposit
- ✓tax payments and filings
- ✓W-2 and 1099 preparation
- ✓Wave accounting integration
- ✓employee self-service
Pricing Comparison
Our Take
Choose Lendio Bookkeeping if small us businesses wanting managed bookkeeping combined with easy access to business financing options. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
Best For
Small US businesses wanting managed bookkeeping combined with easy access to business financing options
Best For
Micro-businesses already using Wave accounting that want simple integrated payroll
Also Consider
If neither Lendio Bookkeeping nor Wave Payroll is the right fit, Dext is worth evaluating.
Dext
Bookkeepers, accountants, and businesses with high receipt volumes wanting to eliminate manual data entry
From $15/mo
Frequently Asked Questions
What is the difference between Lendio Bookkeeping and Wave Payroll?
Lendio Bookkeeping is best for small us businesses wanting managed bookkeeping combined with easy access to business financing options. Wave Payroll is best for micro-businesses already using wave accounting that want simple integrated payroll.
Which is better, Lendio Bookkeeping or Wave Payroll?
Choose Lendio Bookkeeping if small us businesses wanting managed bookkeeping combined with easy access to business financing options. Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll.
How much does Lendio Bookkeeping cost?
Visit Lendio Bookkeeping website for current pricing.
How much does Wave Payroll cost?
Wave Payroll starts at $20/mo + $6/person. Pricing model: Paid.
Who should use Lendio Bookkeeping?
Small US businesses wanting managed bookkeeping combined with easy access to business financing options
Who should use Wave Payroll?
Micro-businesses already using Wave accounting that want simple integrated payroll