Wave Payroll vs Lendio Bookkeeping
A head-to-head comparison to help you pick the right tool
Last updated: April 30, 2026
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.
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.
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
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
Wave Payroll vs Lendio Bookkeeping: Side by Side
| Factor | Wave Payroll | Lendio Bookkeeping |
|---|---|---|
| User Rating | N/A | N/A |
| Category | Payroll Software | Accounting Software |
| Pricing Model | Paid | Paid |
| Starting Price | $20/mo + $6/person | Contact for pricing |
| Best For | Micro-businesses already using Wave accounting that want simple integrated payroll | Small US businesses wanting managed bookkeeping combined with easy access to business financing options |
| Our Pick | — | — |
Wave Payroll Features
- ✓Payroll processing
- ✓direct deposit
- ✓tax payments and filings
- ✓W-2 and 1099 preparation
- ✓Wave accounting integration
- ✓employee self-service
Lendio Bookkeeping Features
- ✓Small business loans
- ✓bookkeeping
- ✓cash flow management
- ✓financial reporting
- ✓bank reconciliation
Pricing Comparison
Our Take
Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll. Choose Lendio Bookkeeping if 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
Best For
Small US businesses wanting managed bookkeeping combined with easy access to business financing options
Also Consider
If neither Wave Payroll nor Lendio Bookkeeping is the right fit, Multiplier is worth evaluating.
Multiplier
Startups and SMBs hiring internationally on a budget
From $40/contractor/mo
Frequently Asked Questions
What is the difference between Wave Payroll and Lendio Bookkeeping?
Wave Payroll is best for micro-businesses already using wave accounting that want simple integrated payroll. Lendio Bookkeeping is best for small us businesses wanting managed bookkeeping combined with easy access to business financing options.
Which is better, Wave Payroll or Lendio Bookkeeping?
Choose Wave Payroll if micro-businesses already using wave accounting that want simple integrated payroll. Choose Lendio Bookkeeping if small us businesses wanting managed bookkeeping combined with easy access to business financing options.
How much does Wave Payroll cost?
Wave Payroll starts at $20/mo + $6/person. Pricing model: Paid.
How much does Lendio Bookkeeping cost?
Visit Lendio Bookkeeping website for current pricing.
Who should use Wave Payroll?
Micro-businesses already using Wave accounting that want simple integrated payroll
Who should use Lendio Bookkeeping?
Small US businesses wanting managed bookkeeping combined with easy access to business financing options