Payroll management has been one of the most important areas of business operations over the years. After all, with the number of employees you have and the number of payments (salaries and benefits) you make to your teams each month, inconsistency in numbers can cause serious problems. This is why large companies need to find reliable payroll software that can help them account for everything and also reduce back-office costs.
Large companies need a comprehensive and effective payroll system to handle the work that’s expected of them. You’ll want a payroll system that will automate some of your manual tasks while being easy to implement, troubleshoot, and update. It may be tempting to just use a spreadsheet, but it can get overwhelming when you have multiple employees. In this post, I’ve listed down some of the best options for large companies when it comes to choosing a payroll software package.
Payroll Software Features & Capabilities
Most vendors offering payroll software include features such as:
- Calculating employee pay
- Automatically calculating deductions for withholdings (e.g. state and federal taxes, insurance and retirement contributions)
- Direct deposit check processing
- Printing checks for employees not enrolled in direct deposit
- Generating tax forms
- Integrating with external payroll vendors
- Issuing off-cycle checks or on-demand payments
- Maintaining payroll history for each employee
- Administering benefit plans
- Managing retirement plans
- Payroll tracking and auditing
- Modifying and revising employee salaries
- Running payroll balance and calculation reports
- Employee self-service
Workful
Workful is one of the newer online payroll services available, and it’s already making a name for itself with its top-notch customer support, which is why it’s our best customer service option. The geolocation time-clock tracking is easy enough to set up and ensures employees clock in and out from wherever you’ve set as appropriate. Also, employees can submit expenses through the app, so they can get reimbursed with the next payroll run.
Pros
- Affordable
- Easy to use
- Includes employee expense tracking
- Offers geolocation time-clock tracking
- Includes document storage
Cons
- Limited reporting features
- Setup seems clunky
Workful is an affordable and easy-to-use application but is not without its restrictions. For example, it doesn’t do automatic tax filing for you. But, it gets our nod for best customer service because it provides fast guidance with easy-to-understand directions for a small business owner.
Workful is one of the easiest-to-use online payroll services available. The left-side main menu is intuitive, and the dashboard is clean. Setup is easy enough, with a tutorial that walks you through establishing your services. Once you have the time-clock setup, it’s kind of hands-off work for you. Employees simply use the app to clock in and out.
When it comes to integrations, Workful doesn’t seem to play well with others. You can integrate QuickBooks Online, but that’s it. Workful is trying to be a single software solution, which is why it offers built-in time tracking, document storage, and HR options. However, if you’re happy with your time-tracking solution, use a different accounting program, or need Indeed or Zapier integrations, Workful isn’t the right payroll software for you.
Intuit Enhanced Payroll Software.
Intuit Enhanced Payroll offers a robust and efficient setup that you can do easily for the accurate processing of payroll data. It provides a capable and reliable solution to manage the payroll of employees and pay taxes simultaneously.
It is affordable and doesn’t come with additional bells and whistles. Hence, it is most suitable for small businesses that just want to handle payroll efficiently.
Key Features:
- Robust Tax Integration: It guarantees accurate calculation of taxes so that you can pay them on time to the concerned authorities
- Customized Reports: Managers can create customized reports of payment and employee data as per the business requirement
- Secure Data: Since the software is on the cloud, it offers excellent data security and flexibility to use the software from anywhere securely
Pros:
- It provides mobile payroll management that you can do through Android and iOS mobile applications efficiently
- The cloud-based solution secures all the information safely. Users can access the software from any location
- It offers a robust mechanism to manage federal, state and local taxes of the land efficiently
- Users can easily track information or set up a pay run through its intuitive mobile application
- The software comes with a 30 days free trial that includes all the features
- Offers capable payroll processing tools
- It offers capabilities to customize reports easily
Cons:
- Even after several updates, the interface is not user-friendly and looks dated
- Comes with limited features
- The subscription cost of this software among some of the highest payroll tools
Xero
Xero offers efficient payroll management solutions along with robust accounting and bookkeeping tools to enable businesses to keep a close watch on their cash flow from every touchpoint.
Best For:
It is one of the best tools for businesses that are searching for software that can also handle basic accounting tasks regularly.
Key Features:
- Advanced Functionalities: It offers powerful features, including advanced invoicing and quotes, credit card, banking, and PayPal reconciliation. Moreover, it is capable of handling accelerated inventory management, calculate payroll and manage taxes, purchase orders and expense control among others
- Easy-to-Use: Its user interface is well organized, and even a beginner can use it pretty easily
- Smartphone Application: The software comes equipped with dedicated mobile apps for Android and iOS. Employees can leverage the app for time tracking, payslips and to apply for leaves
Pros:
- The software offers robust integration with over 500 third-party applications
- It is capable of taking a data-driven decision and generate reports, including cash flow records, balance sheet, and income statements
- Through its two-factor authentication and multi-approval model, it reduces the probability of fraud. It creates a detailed trace of every action, including the name of the user, performed action, date, and manual notes, among others
- It offers a variety of advanced functions including identifying alter checks, expense claims and bank accounts among others
- Its intuitive dashboard makes it easy to track work hours and leaves
Cons:
- Lack of additional reporting features
- Features might not meet the requirements of large corporations
Performly Payroll
Performly Payroll is a cloud-based payroll platform designed to help businesses mitigate payroll errors, calculate employees’ working hours, and manage tax withholdings. Organizations can use predefined or customizable pay code templates based on corporate policies, enabling them to automatically streamline payroll operations according to requirements.
Performly Payroll lets teams forward statements to banks for salary transfers and send payslips to employees via email. It allows businesses to process payroll using data about employees’ attendance and leaves via the Performly Intra platform.
Performly Payroll facilitates integration with Performly Talent, Performly Intra, and other third-party systems.
OnTheClock.com
OnTheClock.com is a cloud-based employee time clock app that enables users to schedule employee shifts, automatically calculate hours worked and track time off, and supports multiple different clock-in options. Employees can punch in from their workstation computers through the OnTheClock.com website, using the native iOS and Android mobile apps, or group punch stations can be created using wall-mounted tablets. Fingerprint scanners can be used with the system, ensuring employees are present when punched in and preventing ‘buddy punching’. OnTheClock.com also gives users the ability to monitor or control the GPS locations and IP addresses employees can punch in and out from if they are using the mobile apps.
OnTheClock.com enables users to set up clocking-in rules, such as preventing clock-ins before set times, and define whether employees are allowed to clock in from single or multiple locations. Punches can be left unrounded or automatically adjusted with 6-minute or 15-minute rounding. Users can also choose for breaks to automatically be deducted from employees’ worked hours. OnTheClock.com integrates with Payroll Connect and can be used with semi-monthly, monthly, bi-weekly, and weekly pay periods. Paid time off (PTO) accrual can be managed, and time off, vacations, and sick days can be tracked.
Employment Hero
Employment Hero’s cloud-based HRIS empowers Australian businesses to manage HR, payroll, performance, learning, recognition, and benefits easily within one, integrated platform.
Employment Hero helps business owners and people managers be more efficient, cost-effective, and compliant by taking the hassle out of HR and payroll admin. Features like paperless onboarding, contract, and policy templates, bulk VEVO checks, electronic certifications, timesheets and leave management and automatic award interpretation save thousands of Australian businesses weeks in lost productivity.
Employment Hero takes care of the basics so you can focus on what’s important — growing your business. We believe that your people are your biggest asset; with all guns blazing, there’s no limit to what your business can achieve. Performance reviews, learning and development, reward and recognition, and employee perks and benefits are all built into Employment Hero’s remote-ready platform, ensuring your employees are engaged and connected like never before.
No matter the industry or the size of your business, Employment Hero empowers you to get the most from your workforce. From the office or remote, Employment Hero is ready to change your world at work forever.
Key benefits of using Employment Hero
- Employment Hero is available as a native mobile application on iOS and Android, allowing users to access staff contacts and timesheets easily and conveniently on the move.
- Employment Hero includes comprehensive reporting technology, enabling users to gather real time insight into organizational status and performance.
- Employment Hero supports integration with Xero, MYOB, and KeyPay, providing users with the tools to manage HR and accounting processes all in one centralized platform.
- Users can opt in to the Employment Hero Benefits program, offering exclusive employee incentives and discounts on car finance or mobile plans.
- Employment Hero utilizes employee self-service, permitting employees to enter and manage their own personal, bank and passport details as well as tax declarations and leave requests.
Conclusion
Are you looking for reliable, efficient, and trustworthy payroll software that can handle all of your company’s payroll needs? If so, then you’ll need to take some time to learn about top-rated payroll software. There are many different systems available on the market at this time, but not all are good. To ensure that your company gets the very best program, you should perform some research before purchasing any system. You want to purchase a program that will make things easier for you, while also helping you save money, especially on labor costs.