Wave customers can now connect their RUN Powered by ADP® account to their Wave account to help them get more accurate and hassle-free financial reporting.
What makes this integration great?
After you connect RUN to Wave, you can sign in to Wave directly from RUN without putting in your Wave username and password. You also eliminate manual entry by having your payroll data effortlessly flow into your accounting records in Wave, with easy to understand categories preset for you (don’t worry, you can change these if you wish).
You gain other advantages with this integration:
- Expense reimbursements entered in RUN are automatically imported into Wave.
- Duplicate entries and mis-categorizations from your imported bank transactions are eliminated.
- Accurate payroll expense information is shown in Wave’s Income Statement report.
- Balance of uncleared payroll checks is shown in Wave’s Balance Sheet report.
How to connect RUN to Wave
Step 1: Go to your RUN dashboard
On your RUN Homepage, click the Wave icon and follow the one-time instructions to connect RUN to Wave.
Hint: In order to see the Wave icon (Accounting & Invoicing), you must be logged into RUN as an “Owner” role of the company.
Step 2: Sign in to your Wave account
Sign in with the same Wave login that contains the company for which you process payroll on RUN. If you already use Wave, make sure to click on the “I already use Wave” tab to avoid accidentally creating a new Wave account.
Step 3: Map your RUN payroll data to your Wave categories
This mapping lets Wave automatically categorize your payroll data from RUN to your liking. Then, payroll runs will be accurately reflected on your Income Statement and Balance Sheet reports, and duplicate entries from your bank transactions are eliminated.
If those automatically mapped accounts are not already part of your existing list of accounts, Wave will create them for you. You can map to your existing expense and liability accounts that you have been using, or you can use Wave’s suggested mapping instead.
After you finish mapping payroll data to Wave categories, you will see a confirmation message on your Wave dashboard.
The next payroll you run will now flow automatically from RUN into Wave. And the next time you click on the Wave icon in RUN, you will be taken directly to Wave with no additional sign-on.
What happens in Wave when you approve a payroll in RUN
After you finish payroll, the details will be automatically imported into Wave as a journal transaction. To view the journal transaction in Wave, go to ACCOUNTING -> JOURNAL TRANSACTIONS.
Click on the pencil icon to view the details of the journal transaction.
Easily categorize bank transactions (imported or manually entered)
You want your payroll related-payments from your bank account to be properly accounted for in Wave so that your Balance Sheet report is correctly reflecting payroll-related money.
To do this, categorize all payroll-related transactions from your bank into the “Payroll Liabilities” category when they get imported. If you upload a CSV file or create manual entries to do bookkeeping, the same rule applies. It’s that easy.
Categorize the following bank transactions into “Payroll Liabilities”:
- ADP withdrawal from your bank account to pay employees, taxes, and worker’s compensation.
- Paychecks which have cleared and were deposited by employees not on Direct Deposit.
- Cash withdrawals (not through checks) used to pay employees.
Categorizing Payroll Fees
When you use RUN, you may have a line item on your bank statement that is exclusively for service fees related to running your payroll. Categorize these into “Payroll Service Fees” or another category that you use for similar fees.
Using RUN to sign in to Wave
We’ve made it easy for you to sign into Wave directly from RUN. Simply click the Wave icon from your RUN dashboard and you’ll enter Wave with no further sign in required.
You need to be in an “owner” role to initially view the Wave icon on your RUN dashboard. However, a RUN business owner can grant additional RUN users access to Wave. This access can be granted by the business owner in RUN under the COMPANY -> ADD USERS page.
More about payroll data from RUN
There are four data types from RUN that you need to map to categories in Wave. You only need to complete this mapping once, and you can modify them in the future.
Expenses data types
Gross Pay: Employee pay before withholding taxes and employee deductions. A category mapped to this data type will appear on your Income Statement report.
Employer Taxes & Deductions: Employer contributions separate from any employee taxes and deductions. A category mapped to this data type will appear on your Income Statement report.
Worker Compensation Insurance: Insurance purchased by the employer. This appears on the Income Statement separately from Gross Pay and Employer Taxes & Deductions.
Liabilities data type
All Tax, Deductions, and Net Pay Payable: This data type always equals the combined total of the three expense data types. It is used to track net pay not yet paid to employees, expenses not yet paid to third-parties, and taxes not yet paid to the government. If none of your employees are on check or cash payments, and if RUN handles all of your tax payments and filings, then this account will always be zero.
How do I modify the mapping between RUN payroll data and Wave categories?
To modify the mapping in Wave, go to ACCOUNT (top right corner) -> INTEGRATIONS, and click on the pencil icon for the RUN Powered by ADP® integration.
If I modify the mapping, are past journal transactions modified?
No, historical journal transactions are not modified retroactively. To modify those journal transactions, go to ACCOUNTING -> JOURNAL TRANSACTIONS, and edit them individually.
When is a journal transaction posted in Wave?
A journal transaction is usually posted in Wave within seconds of you approving a payroll in RUN.
How can I discontinue using this integration?
Go to ACCOUNTS (top right corner) -> INTEGRATIONS, and click on the trash can icon for the RUN Powered by ADP® integration.
Can I keep the integration but disable importing of payroll data?
Yes, you may turn off just the importing of payroll data from RUN into Wave. Go to ACCOUNTS (to right corner) -> INTEGRATIONS, click the pencil icon for the RUN Powered by ADP® integration, and toggle “Payroll importing is” to the off position. No payrolls approved from that moment forward will get imported into Wave.