The best payroll software for small business, i’m a freelance writer and web developer who has a great interest in provider a full-service payroll service to small companies. I am going to keep your money safe no matter how small or big you are.
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Payroll4Free: Best Overall Free Payroll Software
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Best for smaller businesses that need the tools to do direct deposits and tax calculations by themselves, free of charge.
True to its name, Payroll4Free is a handy tool for completing payroll for free. If you are paying 25 or fewer people, your small business is eligible to access its basic services for free.
Even at its most stripped-down level, Payroll4Free still packs a comprehensive array of features that can take the hassle out of completing payroll. For starters, it allows users to pay both W2 and 1099 employees. The software also can print checks and calculate federal, state, and local taxes. Furthermore, users can export their payroll data to be integrated with accounting and banking software like QuickBooks.
Payroll4Free’s portal and reporting features let employers and employees alike keep track of sick days, vacation, and other PTO. Additionally, employees can print out their pay stubs and W2 forms off the platform, saving small business owners time and resources.
The platform is able to offer free service through paid advertising, which users will encounter periodically while using the software.
Pros
- Direct deposit and tax calculations are available as free basic services
- Basic service includes unlimited customer support by phone, email, and online chat if you hit any roadblocks.
- Customer data and information is encrypted.
- Provides preset tax forms for submission.
Cons
- Mac users will need to use Windows operating software since iOS isn’t compatible.
- Direct deposit through Payroll4Free’s own bank is not free
Payroll4Free Features & Pricing
Payroll4Free offers all of its basic services free of charge, which it achieves by hosting advertisements within its software for companies who pay them for their exposure. The free version of Payroll4Free places no limits on payroll or direct deposit processing and doesn’t require that you upgrade to a higher-tier plan to enjoy its basic features. Features that Payroll4Free offers at no additional cost include:
- Direct deposits and paper checks
- Tax calculations and required forms
- Time tracking for vacation and time off
- Employee dashboard portal
- Customer service
- Employee enrollment
The above basic services are for free for clients who staff 25 or fewer employees, although not all of Payroll4Free’s benefits are free.
Despite its name, Payroll4Free places two optional services behind a paywall. Employers that don’t want to deal with depositing and filling out payroll taxes themselves need to pay a $15/month fee for Payroll4Free to take care of it for them. However, Payroll4Free does offer free tools as a basic service that you can use to make this process easier.
If you don’t want to rely on your own bank to transfer direct deposit funds to your employees, you will need to pay another $15 dollars per month for Payroll4Free to complete these transfers using their bank. So, if you decide to opt-in for all paid services that Payroll4Free offers, you’ll be paying $30 every month at the very most.
Payroll4Free Summary
Payroll4Free is the best choice for small businesses with fewer than 25 employees that want an easy-to-use payroll application that gives them the tools they need to succeed. Free features like direct deposit and a self-service portal are absolute must-haves for small companies that need to invest in other areas of their business. Payroll4Free is the best overall payroll software choice for businesses that need basic features with a simple, easy-to-use interface.
HR.my: Best for Multinational Businesses
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Best for companies that largely do their business overseas or staff many multilingual employees.
Managing employees is a major task for any business. When employees are spread across multiple locations, or even countries, there may be language barriers and added steps for completing payroll taxes to account for. Boasting support for a whopping 65 languages, HR.my is perfect for multinational teams that also need access to basic payroll processing features and human resource management tools.
HR.my is able to support payment by direct deposit, check, or even cash. A business can also designate multiple managers in the system through a role-based user access control feature to divide payroll responsibilities. Additionally, employees can use the platform to input hours worked, request PTO, print their pay stubs, and check their vacation accrual among other tasks. Users can also import timesheets, expense reports, and share documents via the software’s workflow function.
Pros
- The software supports a total of 65 languages.
- Businesses with any number of employees may utilize HR.my.
- The flexible payment schedule lets you cut checks monthly, semi-monthly, biweekly, and weekly.
- Data is encrypted and secured daily with off-site backup.
Cons
- Does not incorporate U.S. labor law compliance.
- Customer support is handled through a crowd-sourced online forum.
HR.my Features & Pricing
HR.my offers free access to one-hundred-percent of its features and doesn’t require that you subscribe to any plans to unlock extra benefits. It accomplishes its free service through crowdfunding from its user community, so you just need to sign up to start using it. HR.my’s free features include:
- Payroll processing that supports multiple pay periods
- Attendance management & time-tracking
- Employee self-service portal
- Print & export payroll results, leave transactions, and time clock records
- Regular software updates that introduce new free features
For the number of features it offers for free, HR.my is a contender not to be taken lightly when compared to other ostensibly free payroll software solutions, which sometimes gate certain features behind monthly fees and annual renewals. HR.my is “Free! Forever.” according to their home page, so what you see with them is what you get when you sign up: support for unlimited user accounts, time management, multiple pay schedules, a self-service portal, and much more.
HR.my Summary
Small business owners and HR managers who need multi-lingual payroll software will be pleased with HR.my’s support for literally dozens of languages. The software offers payroll features such as online HR and payroll, leave management, and expense reporting that are essential to businesses that don’t yet have mature payroll processes set up. And, since HR.my supports an unlimited amount of user accounts, it’s a feasible payroll solution for businesses that want to increase their number of employees in the near future.
Timetrex: Best For Employee Time Tracking
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Best for companies that need a full-fledged time-tracking solution that also offers payroll features.
Calculating payroll requires knowing how much time employees have worked during a pay period. Recording any sick leave or vacation days is also important too. Timetrex is a good bet for small businesses with hourly employees, as it synthesizes time-tracking into payroll software.
The free option is known as the community edition; it is an open-source platform supported by volunteers from over 50 countries. Timetrex stands out for its time and attendance tracking for employees, who need simply log their hours online. This information is automatically linked with payroll, so running the numbers at the end of the pay period is a breeze.
Timetrex’s community edition covers most of the bases of completing payroll, including calculating net pay, taxes, and deductions. Users can utilize Timetrex to pay their employees via direct deposit or paper check, as well as prepare tax forms. Some other HR functions are featured too, such as submitting PTO requests and schedule changes.
Pros
- Can be integrated with other payroll services, such as ADP and QuickBooks.
- Cloud-hosted support for free
- Employees can easily access app via web browser
- Includes automated multi-week scheduling for recurring or rotating shifts.
Cons
- The free community version does not assist with filing taxes.
- Non-transparent pricing
- Tax filings and payments to third parties are not included.
Timetrex Features & Pricing
TimeTrex offers its most basic payroll features for free under its Community Edition service plan. The TimeTrex Community Edition is exclusively cloud-hosted, doesn’t require any downloads or software installations, and comes with free features such as:
- Payroll processing
- Human resource management
- Web browser support for time & attendance
- Leave management
TimeTrex does offer mobile app and on-site service in addition to its web portal support, but you’ll need to purchase at least the Professional plan to access it. TimeTrex’s pricing starts at $2.99 per month, per user, and begins at a beginning flat rate of $29.90 for businesses that pay up to 10 employees. Additionally, the company offers a plan comparison online but doesn’t include any further pricing details, so you’ll need to request a demo with them to learn more about which plan makes sense for your business.
TimeTrex Summary
TimeTrex’s free features make the most sense for small, dispersed teams that need web access to time-tracking. Business owners who already use a payroll software they enjoy can integrate it with TimeTrex, as well as sync it automatically with TimeTrex’s attendance tracking. Unfortunately, TimeTrex’s lack of pricing transparency makes it difficult for busy companies that need immediate payroll solutions to quickly choose a plan that suits their needs.
Conclusion
It’s no secret that your business’s payroll is critical to its success. You need to pay all of your employees and business owners accurately and on time. After all, you don’t want them to start looking for another job! But the biggest challenge small business owners face is trying to manage their company’s payroll.