Best Payroll Systems for Large Companies

We compared hundreds of payroll systems for large companies. Our improved algorithm ranks the top options for the highest scores in 2021, along with key features, pricing and customer reviews. We help you find the best payroll system for your needs!

Are you a large corporation with more than 250 employees and looking for payroll services? Here is a look at top payroll systems for large companies in the U.S.

 Square Payroll.

Square Payroll offers a remarkable user experience while providing all the functionalities of a capable payroll system. It is an excellent tool for both salaried and hourly employees as it supports both W-2 employees and 1099 contractors.

Best For:

It is an excellent tool for businesses that are looking for intuitive and engaging user experience along with a capable payroll software

Key Features:

• Taxes: It ensures accurate calculation and payment of federal and state taxes of payroll, including quarterly state and federal filing
• Health Benefits: It has partnered with SimplyInsured to provide health insurance to employees. It also offers partnerships with other healthcare providers based on geography
• Team Management: Its recent update offers Team Management feature to track the work of employees like break duration and who is working at what task.

Pros:

• The software is entirely cloud-based and requires no installation at all
• It has a robust collaboration with AP Intego’s pay-as-you-go service for worker’s compensation insurance. You don’t need to pay any administration fees, and only the businesses are supposed to pay premiums
• It offers robust integration with PoS and time-in and out software to collect employee data accurately
• It provides unlimited payroll run in all the serviceable states that are completely automated
• Employees can add and edit their personal information on their own

Cons:

• Payroll item types are limited
• Its services are available only in 32 states
• No smartphone application for easy navigation of the software on mobile devices

Cost:

The Base Fees for Contractor Only is free and costs $29 per month for Employee + Contractor plan. It charges an additional $5 per employee/ contractor.

 QuickBooks Payroll.

QuickBooks Payroll is one of the preferred choices of businesses of all sizes. It comes equipped with all the advanced online payroll features that can help you automate your processes.

Best For:

It’s one of the best solutions for small business owners to run payroll, and eliminate delays, inaccuracies and tax compliance.

Key Features:

• Full-Service Plan: It offers the support of dedicated in-house experts to automate and drive the payroll process completely
• Employee Self-Service Portal: This is a cost-efficient plan that enables users to customize the software as per their needs and run the entire payroll process on their own
• Tax Guarantee: It offers a no-penalty guarantee on its tax filings. It leverages real-time status tracker and built-in scheduler to notify employees of tax requirements months, weeks, and submission dates.

Pros:

• It offers automated accounting services that are taken care of by QuickBooks Online experts
• The software is capable of transferring funds in one day turnaround time to avoid unnecessary delays
• All payroll requirements and information are readily accessible on the payroll tool
• The executes accounting tasks in real-time to reflect correct payroll data all the time
• It offers hassle-free data collection and submission to the concerned authorities for efficient and reliable tax compliance
• Its advanced data-driven tools deliver smart reporting features for efficient payroll management

Cons:

• Key reports are missing
• Direct customer support is not present

Cost:

The monthly subscription starts at $7 per month and ranges up to $75 per month.

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

Cost:

Initially, it offers a free trial. After that, the paid plans start at $20 per month.

Block (formerly Square) – Best Payroll Software for Contractors

Best Payroll Software for Contractors360 OVERALL RATING

3.8 out of 5MONTHLY FEE$29 + $5/Payee and UpDIRECT DEPOSITTRIAL PERIODN/APRIORITY SUPPORTMORE DETAILSSEE REVIEW

Block: No. 3 in our small business ratings is Block’s payroll software. Another payroll software with simple pricing, you get access to everything Block offers for $29, plus $5 per employee per month. And if your business only needs to pay contractors, Block waves the monthly fee of $29 and will only charge you $5 per payee per month. Block is ideal for small businesses that are already using one of Block’s other business products, such as its point-of-sales (POS) system. The payroll software integrates with Block’s POS and the Block Team app to help you manage your business. It will sync all of your business’s data together, including your employees’ hours and your company’s sales data. And payroll can be run from anywhere using the Block Payroll App from your cell phone.

However, you don’t have to use other Block products to make Block payroll software a good choice for you. It is compatible with third-party software, such as QuickBooks Online, and it has free seasonal inactivity, which will benefit small businesses, like pop-up shops, that only run certain months of the year.

Intuit QuickBooks – Best Payroll for Quick Direct Deposit

Best Payroll for Quick Direct Deposit360 OVERALL RATING

3.6 out of 5MONTHLY FEE$45 + $4/Payee and UpDIRECT DEPOSITTRIAL PERIOD30 DaysPRIORITY SUPPORTMORE DETAILSSEE REVIEW

Intuit QuickBooks: The Best Payroll Software for Small Businesses rating is rounded out with Intuit QuickBooks in the No. 4 spot. Intuit QuickBooks offers three tiers of payroll software. The Core plan offers a great deal of value for small business owners. It will help you automate your payroll and federal and state taxes for $45, plus $4 per employee per month. You can also add 401(k) retirement plans and health benefits for your employees to the Core plan. If you want HR support and workers compensation administration, you will need to go with one of QuickBooks’s higher-tier plans, known as Premium or Elite. However, the higher-tier plans are more expensive and may be out of the standard small business’s budget.

A key difference between Intuit QuickBooks and the rest of the payroll providers in our ratings is that all of its plans provide quick direct deposit. While the average direct deposit in our ratings takes four days after payroll processing, with some companies offering faster deposits at higher-tier plans, QuickBooks Core has next-day direct deposit, and Premium and Elite provide same-day deposits. This can make all the difference to your employees because the American Payroll Association reports that “49% of U.S. workers will leave a job after experiencing just two problems with their paychecks,” including late payments.

Intuit QuickBooks is also the ideal choice for accountants. It provides its Elite payroll plan for free to accounting firms using QuickBooks Online Accountant. The construction industry can also benefit from QuickBooks. Its payroll services are used by 30,000 construction small businesses to help manage the tax laws surrounding their industry.

What We Like

• Seamlessly integrates with
• Offers same- and next-day direct deposits
• Unlimited pay runs with automated payroll tax filings (federal and state)
• Its mobile app lets you run payroll and e-file taxes even while on the go

What’s Missing

• Automated local tax filings available only in higher tiers
• Lacks a contractor-only plan
• Basic HR features
• Doesn’t have mobile apps for employee self-service (only offers a workforce portal you can access online)

QuickBooks Payroll Pricing

• Core: $45 per month + $4 per employee monthly
• Premium: $75 per month + $8 per employee monthly
• Elite: $125 per month + $10 per employee monthly

QuickBooks Payroll is the best option for most QuickBooks accounting users; it integrates seamlessly—you access it within the same system with the click of a button—and all information flows throughout both systems (you don’t have to enter twice). Like Gusto, it offers full-service payroll with automated tax filings (federal and state, local taxes if subscribed to the Elite plan), year-end reporting (W-2s and 1099s), and an online portal where employees can access their pay stubs, tax forms, and PTO balances. QuickBooks Payroll also has fast direct deposits—its standard timeline is next-day but has same-day options if you get one of its higher tiers.

In our evaluation, QuickBooks Payroll earned a 4.62 out of 5 with perfect scores in ease of use, pricing, and reporting capabilities. While all of its per criteria ratings are 4 and above, it scored the lowest in HR features (4.13 out of 5), mainly because it doesn’t file new hire state reports (it only generates them) and you have to get its premium plan if you want time tracking and expert advice from a personal HR adviser. However, many users still appreciate its ease of use, especially its seamless integration with QuickBooks accounting. A few others complained about having experienced occasional software glitches, while some said that it can be pricey for small businesses.

QuickBooks Payroll Features

• Automatic and unlimited payroll: You can approve and set payroll to run automatically with QuickBooks. It also lets you process payroll as many times as your business requires.
• Automated payroll tax services: Like most of the payroll providers on this list, QuickBooks Payroll handles all tax calculations, payments, and filings (including year-end reporting) for you. However, its tax filing services only cover federal and state taxes. You have to be on an Elite plan if you want automated local tax filings—otherwise, you’ll have to enter the local tax rates yourself.
• Fast direct deposits: Apart from next-day direct deposits, you can pay employees through same-day direct deposit at no extra cost, provided you subscribe to QuickBooks Payroll’s higher tiers. Note that most of the providers on this list have a standard two-day processing time—although Square Payroll offers instant payments if you have a Square Payments account.
• Tax penalty protection: QuickBooks will cover the penalty and interest for any payroll tax error for up to $25,000 a year—regardless of who made the mistake. Note that you must purchase its Elite plan to have your errors covered. Experts will also represent you before the IRS and concerned agencies and will assist you to resolve the problem. No other providers on our list will offer to represent you to help fix tax issues or cover mistakes you make under any circumstance.
• Payroll and tax filing while on the go: With QuickBooks Payroll apps (for iOS and Android), you can process payroll, pay taxes, and e-file tax forms in all 50 states. Square Payroll, ADP Run, and Paychex may let you run employee payroll on its mobile apps, but they don’t have the tax e-filing feature that QuickBooks Payroll offers.

QuickBooks Payroll’s Drawbacks

• Lacks mobile apps for employee self-service: While QuickBooks Payroll has a workforce portal where employees can check PTO balances, access pay slips, and view tax forms, its self-service tool doesn’t have a mobile app version. We recommend either Square Payroll, ADP Run, Homebase Payroll, and Paycor since these providers offer mobile apps for employee self-service. Gusto’s financial management app, Gusto Wallet, also lets you view pay stubs and W-2s but doesn’t show PTO details.
• Tax penalty protection can be costly: Compared to the other providers in this guide, QuickBooks Payroll offers more robust tax penalty protection for its clients that includes representing your business before the IRS to help address tax issues. However, coverage for its tax penalty protection is expensive since you have to sign up for its highest tier, Elite, which costs $125 per month plus $10 per employee monthly.

Conclusion

Choosing the best payroll systems for the largest companies can be daunting. Peachtree, Intuit, and QuickBooks have dominated the marketplace, but what if your firm is looking for payroll software from a smaller provider? In addition to the three major software providers listed above, here are small and medium-sized software companies with solid solutions that provide great benefits to large companies.