Payroll software enables small businesses to calculate employee wages and deductions accurately. They also help them automatically pay and file payroll taxes. The market has a wide range of payroll software.
Some tools are free but with barebones features, while others are feature-rich and with HR add-ons. Therefore choosing the best payroll software is a weighty decision.
The article will highlight the top 5 payroll software based on price, ease of use, payroll, and HR features.
Gusto Payroll
The payroll software is beautifully designed and offers full packages at a reasonable price. A small business can access its benefits, payroll, and HR platform at $45 per month. Businesses that deal with contractors and part-time employees can use the contractor-only plan that charges $6 per person per month and no base price.
Gusto offers plenty of HR and payroll features for free, while other providers charge an extra fee. They include automatic payroll tax filing, W-2s and 1099s, state new-hire form filing, workers compensation administration, health benefits administration, employee benefits options, and employee self-service portal. Thus the payroll software is ranked at the top due to its comprehensive payroll solutions.
Paychex
The platform has four plans. A small business may start with a lower-tier package and upgrade to a robust one as the business grows. Paychex offers payroll services, new-hire reporting, tax services, and HR library with documents, as well as a free mobile app.
You can activate the automatic payroll tax administration and workers’ compensation and health insurance feature by paying an extra fee. However, check, direct deposit, and debit card payment options are part of the payroll services. A dedicated payroll specialist is assigned to you when you choose the Select and Pro plans.
Paychex is a perfect fit for small and midsize businesses that require thorough, affordable HR assistance. The system combines human resources software and cloud-based payroll management, thus ideal for growing businesses that will need to support additional employees at one time.
OnPay Payroll
The software is a great option when you want to switch payroll companies. The platform has a single plan that starts at $36 per month and $4 per payee. OnPay bills users based on the people they pay per month. Therefore, it’s a good fit for businesses that work with part-time employees or contractors.
The payroll software has features such as tax filing and payments, unlimited monthly payroll runs, accounting, and additional software integrations, HR tools like state new hire reporting, affordable insurance add-ons, and much more. Additionally, OnPay assists users find outstanding employee perks such as education, commuter benefits, savings plans, and fertility benefits. This is a rare feature among payroll providers.
ADP
The automatic Data Processing (ADP) payroll is a huge payroll company in the world of business software. ADP Run is its payroll arm and a perfect fit for enterprises with less than 50 employees. But businesses with more than 50 employees can still opt for ADP but utilize a payroll plan known as the Workforce Now product.
The ADP Run has four plans, and users access additional features as they move up the tiered plans. It offers services like automatic payroll tax filing, direct deposit, and W-2 submissions. It also provides HR perks such as employee onboarding, regular HR checkup, and health care compliance forms. Some of its add-on options include time and attendance, retirement, health insurance, and workers’ compensation.
QuickBooks Payroll
Small businesses can use QuickBooks Payroll to track their finances and handle their payroll. The software has three payroll plans which offer next-day direct deposit, automatic payroll tax administration, and health insurance add-ons.
Users can sync their QuickBooks Payroll with existing QuickBooks Online accounts free of charge. This provision sets QuickBooks Payroll apart from its peers, such as ADP and Paychex, which charge a monthly fee for accounting software integration. However, only the QuickBooks Payroll Premium and Elite plans offer mobile time tracking, workers compensation insurance options, and HR support.
Conclusion
Small businesses use payroll software because it might be challenging to maintain an in-house bookkeeper. These systems help them calculate tax deductions and pay their employees. This frees up time that they can use to build a successful business.
Gusto has all-in-one automatic payroll and built-in HR tools. Paychex and ADP offer midsize businesses more comprehensive HR management features. OnPay provides businesses with more than one employee, part-time employees, and contractors with excellent features, it’s affordable and easy to use. Lastly, QuickBooks Payroll integrates the tool with accounting software free of charge.
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