InterServer Web Hosting and VPS
|

Payroll Accounting Software Programs

best payroll software

What is a payroll program? A payroll program is a computer system that calculates employees’ paychecks and employer taxes. So what are payroll accounting software programs? Payroll accounting software calculates employees’ wages, withholdings from their paychecks, and employer taxes at the time the paycheck would normally be printed.

A payroll accounting software program is a computerized tool that allows a business or non-profit organization to keep track of the employee’s time and remuneration. A payroll accounting software program tracks all aspects of workforce remuneration, including hours worked, remuneration, taxes, etc. Payroll accounting programs are used by businesses of all sizes for just about any purpose. There are several essential parts that exist in any payroll software programs system.

Wave Payroll

Wave Payroll honestly doesn’t have much to set it apart. Its $20 self-service plan has all the basics, including self-service employee portals, contractor payments, and direct deposit. And its $35 full-service plan (currently available in 14 states) includes federal, state, and local payroll tax filing plus end-of-year tax forms.

So if Wave Payroll is so basic, why do we recommend it? Because Wave Accounting, Wave Payroll’s sister product, is a completely free accounting solution. (In our opinion, it’s the best free accounting solution for many small businesses.) For now, Wave Accounting only syncs with Wave Payroll—so if you’re already benefiting from Wave Accounting’s free software and just hired an employee, Wave Payroll is a perfectly serviceable, affordable payroll system.

If you aren’t using Wave’s accounting program, though, most of the other picks on this list will give you more payroll and HR features for less.

Pros

  • Straightforward integration with Wave’s free accounting software
  • Affordable starting price
  • No additional charge for payroll tax administration (full-service plan only)

Cons

  • Basic HR features only
  • Limited third-party integrations
  • One plan only (limited scalability)

Rippling

Rippling is an end-to-end solution that goes beyond payroll operations and also provides solutions for the human resource processes of small and medium-sized businesses. With this platform, users can sync data from other employee management systems to automate data input and ensure that each employee is getting accurate pay as promptly as possible. It even comes with reporting options that allow HR teams to track compensation trends. Moreover, as it is not limited to payroll functionalities, Rippling can be used to onboard new hires as it can be used to quickly set up payroll, health insurance, as well as apps that they need for their tasks. It even comes with task management tools, custom alerts, as well as a built-in unified employee database. In case you feel these tools aren’t enough, the platform has open API capabilities and native integrations with over 500 third-party applications so you can extend its functions as needed.

For pricing, the vendor offers a quote-based plan that starts at $8 per user per month. To get a custom subscription, be sure to get in touch with Rippling’s representatives.

In addition to the abovementioned, Rippling also comes with native mobile applications for Android and iOS devices. This way, users can easily access their payroll and IT operations even when they’re on the go.

What is unique about Rippling?

  1. No-fuss payroll and benefits management. Rippling is designed to accelerate and simplify compensation management. With this platform, you can automatically reconcile HR data with the payroll system for accurate calculations and timely distribution. It can also keep tabs on benefits and manage health insurance so you can be sure that no employee gets unpaid or underpaid.
  2. Custom employee data reporting. This HR and payroll solution has robust employee data reporting functionalities that let you get a granular view of key business performance metrics. Using this, payroll teams can check compensation trends, IT teams can monitor productivity issues, and HR teams can monitor employee turnover levels as well as overall employee performance. What is more, these custom reports and graphs can be generated depending on a company’s specific needs.
  3. Electronic document management. Perhaps among the most unique functionalities of this platform is that Rippling comes with a built-in document management system. This allows HR teams to collect online signatures on important company documents or government forms instantaneously. With this, you can roll out a completely paperless process within your team. What is more, the platform comes with enterprise-grade security so you can rest assured that all your sensitive documents are protected at all times.
  4. Seamless integrations. Rippling can integrate with over 500 third-party applications which include popular platforms like Slack, GSuite, Asana, TSheets, and PayPal, to name a few. This allows you to simplify data import/export and also streamline your workflows. What is more, the platform comes with open API so you can easily extend the functionalities of the solution.

Payment Rails

Payment Rails is a complete payout platform that makes it easy for businesses to send payments to various parts of the world. With Payment Rails, businesses can arrange payments for staff, freelancers, and business partners in their local currency, without going through the hassle of setting up subsidiaries or a local bank account.

The solution is composed of payment management features on the sender’s side as well as a quick-install widget on the recipient’s side. It also has a watchlist screening feature to protect your business from malicious actors. Rounding out its feature set is its tax compliance component which takes the pain out of collecting and reporting tax forms every tax season.

With this, Payment Rails is a good fit for organizations that deal with paying partners and vendors in multiple currencies. It is also ideal for companies looking to digitize and automate how they file and process tax forms.

What is unique about Payment Rails?

  • Global payments. Payment Rails allows you to send payments via SWIFT bank transfers to over 220 countries in more than 135 currencies. Local bank transfers are also available in over 60 countries. In addition, senders can transfer funds electronically via VISA or Mastercard transfers or to mobile money accounts. With over 25 payment methods accepted, the solution gives you the flexibility you need to send payments.
  • Live payment tracking. With Payment Rails, it’s possible to track the status of your payments every step of the way. You get a real-time view detailing the stage that your payment is in, as well as the date and timestamps of the payment status.
  • Recipient widget. Payment Rails makes it easy not only to send payments but also to receive payments. Thanks to a recipient widget that can be integrated into a website or mobile app in 20 minutes or less, you can easily capture and validate bank account details.
  • Watchlist screening. Using artificial and fuzzy matching logic, Payment Rails has built-in compliance checks for money laundering, terrorism financing, and other relevant laws.

Keka

Keka is an employee experience platform. The only HR & Payroll software that is employee-centric. Unlike traditional HR systems, they are a modern new generation platform focused on user experience and simplifying complex workflows. For any employee-centric company, managing HR, Payroll, and Talent Management is the key activity. These activities require handling by an expert. You need not look beyond Keka HR Payroll Platform. Keka is one of the smartest payroll systems available in India. This software solution presents a fully integrated and unified workflow allowing for a hassle-free payroll processing experience. Managing and nurturing talent is one of the greatest features of this software solution. Keka allows you to automate all core HR operations in a collaborative manner thereby allowing you to focus on higher HR activities. Employing a blend of modern and traditional methods, the highlight of this software solution is the ease with which the employees, as well as the HR teams, can use it. Specially made with an Indian employee perspective in mind, it is best suited for Indian companies.

Conclusion

Anyone who has worked with a business knows that tracking and managing staff is a tedious and time-consuming process. Since payroll and employee management processes are time-consuming, many businesses turn to outside agencies to handle these tasks for them. This not only frees up staff members’ time but also cuts down on expenses, such as administrative costs. However, there are times when even an agency is unable to cover payroll and paycheck management services, such as at the end of the fiscal year or after a merger. In order to ensure smooth transitions and prevent scheduling conflicts, it is crucial for the business to have the necessary information available in the event that their conventional payroll provider cannot take over services.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *