Managing good payroll software can be a challenging task that no one realizes in the long run. In fact, payment of accurate wages or salaries is one of the sophisticated parts of the accounting system.
Apart from producing paychecks and making wire transfers, business owners need to do underlying calculations that include salary deductions, leave accruals, taxes, and other benefits.
To make sure these operations are done quickly and smoothly you need the best payroll software. It will address all the challenging issues and enhances the efficiency of your process.
So based upon these factors here are some of the best employee payroll management systems you can refer to.
So let’s get started.
What is the Best Payroll Software?
Here is my list of the best cloud payroll software to try this year.
Gusto payroll automation software offers an efficient and robust list of payroll features. It provides an intuitive and easy to use interface that reduces user hassles and enhances the experience. Moreover, it is capable of handling both essential administrative duties and general human resource management.
Key Features of Gusto:
- Automatic Wage Adjustment – Gusto automatically adjust the wages of employees to ensure the minimum is paid to everyone. It also complies with FLSA Tip Credit minimum wage compliance.
- Advanced Security – It offers bank-grade security with 256-bit encryption of data flowing between authorized stakeholders.
- Child-support Garnishments – It automates the payments for all employees.
Most suitable option for small businesses as it provides administrative capabilities and a highly user-friendly interface.
Pros of Gusto:
- It offers a free trial
- Offers faster processing of basic payroll data
- Gusto leverages a nine-step wizard to ensure the setup is easy and accurate
- You can integrate their payroll setup with multiple accounting tools
- Calculates and pays off payroll taxes of employees automatically
- It allows users to save the data and start working at any point in time
- HR team use the software to enable self-onboarding for new hires
Cons of Gusto:
- You need to download reports to view them
- There’s no option to pay from prepaid debit cards
- Its customer support is not available on weekends
Gusto offers a 30-day free trial with all the features. Its paid subscription plans start from $39 per month. Moreover, you need to pay an extra $6 per user.
OnPay offers a sleek design, excellent features, and faster performance. The payroll check software provides an end-to-end payroll solution for business management. You can easily handle a comprehensive workforce record and manage unlimited payrolls each month.
Key Features of OnPay:
- 401(k) Planning – This feature allows employees to efficiently plan for their retirement. It manages compliance, investment portfolios, and deduction with high efficiency.
- Document Vault – Offers you a vault to save and store important documents securely.
- Robust Integration – Provides robust third-party integrations with Humanity, QuickBooks, Guideline, Kabbage, Xero, and more
Offers great value for money to small and medium-sized businesses looking for a capable end-to-end payroll solution
Pros of OnPay:
- You can do an unlimited number of pay runs without any extra fees
- It enables employees to edit and enter their details to allow human resource staff to focus on more essential things
- Allows you to handle handles tax forms to pay and calculate state and federal taxes accurately.
- You can process payments of employees in many methods including cheques and online.
- Your users can read about employment laws through its extensive HR library
- It leverages security passcode for call-ins and multi tier-user permission to ensure organizational security
- OnPay will retain data for your former employees to provide them access to W-2 forms and pay stubs online
Cons of OnPay:
- There is no smartphone application
- No customer support on weekends
- Knowledge base comes with too many layers which can be difficult for new user
OnPay offers a free trial for all plans. After that, the base is $36 per month, plus $4 per person.
SurePayroll is a simple payroll system designed for small businesses or households. The latest version of SurePayroll provides a lot of tax and compliance features and you can get it at a highly discounted base price.
The recent reduction in subscription cost of the software has made it an excellent value for money offering.
Key Features of SurePayroll:
- Mobile Access – The payroll software offers robust Android and iOS apps for a seamless mobile experience
- Flexibility – It offers same day or next payment of employees if you forget to process the payment
- Strong Customer Support – It offers efficient customer support for setup and post servicing of the software to ensure a smooth experience.
The payroll tracking software is best known for its in-depth record-keeping, faster payroll processing capabilities, and excellent customer support.
Pros of SurePayroll:
- You can either pay the employee through cheques or direct online deposit
- It provides a 100 percent tax filing guarantee
- It provides support to multiple payroll formats
- Efficient processing and record-keeping of payroll data
- Allows employees to login into the mobile application to gain access to their pay stubs and year-end tax documents
- You can easily export the data into the general ledger after every month’s payday
- Efficiently manage all the tasks through its interactive and customizable dashboard
- SurePayroll helps you send your employee data automatically to the government. This includes name, address, and Social Security number.
- Users can leverage all of the cloud-based payroll software features easily on smartphones.
Cons of SurePayroll:
- The user interface is cluttered and might overwhelm the new user
SurePayroll offers a 1-month free trial before the final purchase. However, to check the prices you will have to get in touch with their customer executives
Now let’s cover the basics.
What is Payroll Software?
Most popular payroll systems help you automate the entire employee payment process, for both salaried and hourly employees.
It is more efficient compared to paper-based systems and simplifies the process of releasing employee payments while eliminating gaps and errors. It also helps the HR Team to generate customized paychecks for a particular employee very quickly.
The essential functionalities of a business payroll software include the automation of deductions like taxes, retirement contributions, and insurance amounts, among others.
The paycheck software also comes with the capabilities to deduct wage garnishment, generate tax forms for employees, and process direct paycheck deposits. You can administer and create separate checks for employees not enrolled for direct deposit.
Now the majority of small business accounting and payroll software companies allow employees to self serve. This includes checking payroll data online on mobile devices, changing the deduction amount, and editing and entering the information in the stand-alone payroll software.
How Do You Select the Best Online Payroll Software for Small Business?
There are many different options that will claim to be the easiest payroll software for small companies on the market. Thus, it’s crucial that you have some basic knowledge about the core functionalities you are looking for in the best hr and payroll system for small businesses.
Make sure you thoroughly research the payroll software with these essential utilities.
- Mobile Access – It has been very crucial these days as cloud-based service offers more mobility and flexibility. It will enable employees and managers to access software from any location or machine. Also, make sure that the payroll providers offer robust iOS and Android mobile apps. This will ensure your employees will be able to access all features of the payroll system.
- Automatic Payment – The software should be able to perform deductions of other benefits, calculate taxes, and generate salaries based on these factors. It should automatically create paychecks and transfer them online into the account of employees.
- File and Pay Taxes Automatically – The software should file payroll tax reports every quarter, capable of holding employee taxes, and make accurate tax payments to local, state, and federal agencies. It should also be able to issue 1099 and W-2 at year-end.
- Payroll Reports – Data-driven reports are crucial in any business. The payroll options should generate data-rich reports about labor, income, expenses, and wages to gain deeper insights.
With these essential points in mind, choose your payroll application based on some of the criteria above.
Best Payroll System Software – Final Conclusion
These were some of the most capable payroll tools on the market. These tools can help you simplify payroll management, attendance tracking, HR-related tasks, and more.
However, here are a few things that you must keep in mind before making the final decision to buy a payroll software program.
- Customer Support – Look for robust customer support to ensure resolutions of queries and flawless integration after buying the subscription.
- Relevant Features – Top certified payroll software solutions might offer a plethora of add-ons and features, make sure you require all those features. If not, you are wasting a considerable amount of cash on an expensive subscription. Also, make sure you do not overload your software with a lot of add-ons. It should be easy to setup payroll online.
- Subscription Cost – If you are a small organization, you can go for free payroll software to cut down subscription expenditure. But if you are looking for quality payroll companies then, analyze the value that payroll apps bring.