Payroll software is a platform that allows an employer to pay their employees, record all payroll-related information, manage their payroll resources, and manage benefits of the organization. Payroll is an important aspect of any company in the absence of which, it can lead to loss of time, money and employee morale. Considering the fact that the human resources are an integral part of any business, having all the records in place is very important.
This article will provide you with general knowledge about free payroll software for small business.
BambooHR
Payroll goes hand in hand with HR, so it’s worth looking at HR software when seeking your payment solutions. BambooHR covers all your bases, providing a separate payroll platform to sync with its main talent management software. This makes it super easy to onboard new employees, tracking hours right from the start. Additional features include staff databases, applicant tracking, time-off tracking, and digital signatures.
Zenefits
Another HR platform that includes comprehensive small business payroll software is Zenefits. It builds time-off tracking, hour tracking, salary upgrades, and benefits into a single one-size-fits-all platform. If your HR and payroll departments are intertwined, it makes it much easier to avoid making double entries. For example, your HR administrator only needs to input a salary change once for it to sync with payroll. As with other software on this list, there are multiple subscription packages to choose from, each with its own features.
QuickBooks
You’re probably familiar with QuickBooks already, but this accounting software also includes an easy auto-pay feature. Perhaps the biggest benefit of using this platform is that it is designed to run automatically, so theoretically, you only need to set up your payroll once. The program will handle taxation, payments, and other issues without manual input.
Paychex
Finally, Paychex is a major payroll software provider dating back to 1971. This comprehensive program is a great choice if you’re interested in boosting employee retention, because it includes a built-in learning management system allowing employees to upgrade their skills. When it comes to payroll, Paychex automatically calculates both state and federal taxes and integrates fully with 401(k). It also includes a free mobile app for management on the go.
Paychex Flex is for small to medium-sized businesses such as retail, food servicing, construction, and manufacturing industries. It is a suite with HR, payroll, and benefit management systems present within the same software. Some of the functions include insurance, 401k retirement services, employee benefits, and accounting.
The pricing plan varies from $77 to $123 for ten employees (exclusive of taxes). Paychex often provides great deals for their customers so that you can grab them at a good price. Besides, it has a $200 setup fee, but you can get rid of it if you get a waiver option by signing up immediately.
As you can see, there are plenty of easy payroll software solutions to choose from. You’ll need to think about your business’s size and whether or not you’re interested in extra HR features to find the best fit.
Patriot Payroll: Probably, the cheapest payroll software in this list is Patriot Payroll. It is exclusively created for US-based start-ups with 1- 100 employees. The basic plan starts at $10 with a web-based app, while the full package is available at $34 with special automated features for managing deposits and taxes. When you choose the basic plan in this cheap payroll software, you have to handle payroll tax deposits and payroll tax filings by yourself, which is the only disadvantage of this software. On the other hand, the full-service payroll plan is for business owners who don’t have time to handle the taxes themselves.
Salient Features
– Easy to use and set up with a check and direct deposit payment option.
– Employees can view their sub tubs and change their bank details.
– In-built HR software and time tracking tool.
Features
– Employees get access to this cheap payroll software on their mobil
– Track off requests and other leave management features.
– Payment options include check, direct deposit, and payment card.
Paycor: Are you looking for HR software in-built with Payroll management? Then, Paycor creates a difference. Besides offering the payment and tax calculation for the employees, Paycor offers numerous HR modules for managing their new hires, training, onboarding, and performance tracking. This cheap payroll software helped many businesses to lower the operational costs efficiently.
Features
– Customize your widgets and turn off the unnecessary ones.
– Offers reporting options for labor distribution.
– In-built Time Clock to monitor employees.
Rippling: Rippling is a payroll software ideal for medium-sized businesses. It brings together payroll, HR, IT, and benefits to your employees. It automatically calculates the payroll taxes and files them based on your office location. You can also customize the PTO policy and compliance work.
Features
– Within 90 seconds, you can set up new hires’ payroll, 401k, and health insurance.
– Schedule automatic payment to your contractors and employees.
– Time tracking, workflow management, and leave tracking.
Ultipro: Ultipro is the ultimate Human Capital Management (HCM) software that provides the best employee experience from HR to payroll. It has updated details on compensation, labor management, and other related details for you to make the right calculation. This payroll software is exclusively for business in the United States and Canada. It has access to all the employee details such as performance, employment history, and personal details with just a few clicks.
Features
– AI-powered platform with automated HCM processes.
– Helps in recruitment and performance management.
– Efficient employee onboarding with time tracking facilities.
Xero
Xero online accounting software is our top recommendation. Xero is easy to use for all levels, has a very user-friendly interface, and is suitable for both startups and small to medium-sized businesses so you can continue to use the same software as you grow.
Xero has an excellent online presence and they publish regular guides, videos, and help articles to help Xero users. Xero also integrates with over 800 third-party apps, making it easy to streamline and consolidate all your business software into one platform.
Pricing
Xero’s prices are in US Dollars but you can purchase from their Irish site. Alternatively, check with your accountant if you subscribe to Xero through them. As a Xero Accounting Firm, we offer our clients a discounted subscription to Xero and free Xero subscriptions for clients availing of our Startup Offer for Limited Companies in Ireland.
VAT
Xero requires Irish VAT rates to be entered manually so when our clients are setting up on Xero for the first time, we make sure that their accounts are set up for Irish VAT correctly. This is an extra step but it is easy to do and there is plenty of support and guidance on how it’s done.
Bank feeds
Due to Brexit, Xero has temporarily stopped live bank feeds from Irish banks. This requires users to manually upload their bank statements but we feel that it is a quick process, and the advantages of using Xero outweigh this additional step. Even still, they are bringing back the live bank feeds from 2022 so you can automate your processes even further!
Xero is ideal for…
Visual workers who appreciates beautiful dashboards. It’s also great for integrating with other apps so you can enhance your experience and make even better business decisions.
Free, live webinar: Take Your Accounts Online With Xero
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SurePayroll
SurePayroll is designed for small business owners and includes a special version for those paying domestic staff. Best for small businesses with 10 employees or less, SurePayroll has worked to automate the entire payroll process, a major bonus for already overworked business owners.
SurePayroll includes a comprehensive payroll preview report. Source: SurePayroll software.
SurePayroll offers direct deposit, new-employee reporting, and time and attendance tracking. The application also includes complete tax reporting and remittance, with a mobile app available for both iOS and Android devices.
An employee self-service option is also available, and SurePayroll also integrates with a wide variety of third-party applications.
SurePayroll offers an easily navigated payroll dashboard that provides access to all payroll features. The application has simplified the payroll entry process, minimizing the amount of data entry needed. An AutoPayroll option is also available for salaried employees.
SurePayroll offers two plans: Self-Service, which does not include tax reporting and filing, and Full Service, which includes a two-day payroll processing timeframe, along with access to HR resources and compliance posters.
The Self-Service plan runs $19.99/month plus a $4 per employee fee, while the Full-Service plan is $29.99/month, plus a $5 per employee fee.
Read The Blueprint’s full SurePayroll review
Conclusion
There are a variety of reasons why a small business might choose to outsource payroll. By doing so, the owner is able to save time and money. It also frees up valuable time that can be used for growth or administrative tasks.