You should definitely study the list of payroll systems as it is a part of the best blog intros. Perhaps, you have encountered a situation when one particular type of software is more useful for your company than the other. But, have you ever thought about choosing a payroll system? Well, today we are going to tell you about different types of payroll systems and how to choose them properly.
Payroll software allows you to create and store employee timecards, as well as calculate various payroll calculations such as income tax withholdings, insurance premiums, and more. Here we’ve collected great payroll software with which you can automate and simplify your payroll management.
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.
Like many other payroll software solutions, PayCor is about much more than just payroll. It is a modular system that can be used for payroll alone, or use additional modules offered on the platform to manage all employee “lifetimes” within the company, from recruiting to departure. Did we already mention that flexibility is important to payroll software?
Key Features:
401(k) tracking
Benefits management
Check printing
Compensation management
Direct deposit
COBRA administration
HIPAA compliant
Employee database
Payroll reporting
Pros & Cons
Desktop and mobile access
Feature rich
Some users complain the interface is confusing
Pricing:
Basic plans start at $99/month for payroll services.
Free trial: No
Free plan: No
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.
Timetrex: Best For Employee Time Tracking
TimeTrex | Visit Site |
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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.
eSmart Paycheck: Best For Quick Payroll Calculations
eSmart Paycheck | Visit Site |
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Best for companies that want to quickly crunch payroll numbers with state-specific calculators.
There’s a lot of arithmetic that goes into completing payroll. eSmart Paycheck is a free payroll calculator that can quickly compute payroll for hourly or salaried workers while taking care of 401k contributions and other deductions.
eSmart stands out from other payroll calculators in that it lets users download and print paychecks and pay stubs. If you live in a state with more complicated payroll taxes, such as New York or Maryland, state-specific calculators can help safeguard you’re withholding the right amount.
Pros
- Helps you abide by state income tax laws
- The pay cycle has eight settings (daily, weekly, bi-weekly, semi-monthly, monthly, quarterly, semi-annually, and annually)
- The interface for inputting information is very intuitive.
Cons
- The free calculator does not save data, so you’ll need to make records separately.
- Does not help file taxes.
eSmart Paycheck Features & Pricing
eSmart Paycheck is more of a payroll calculator than it is a software solution. Small business owners can use eSmart to input employee wage and withholding information to run payroll themselves. Among the standout free features that come with the eSmart Paycheck calculator include:
- Print paychecks and pay stubs
- State-specific calculators
- Adjustable pay cycles
- Quick web-based access
Businesses that need tools to file tax information will need to subscribe to a paid eSmart Payroll service plan. eSmart Payroll provides paid access to federal and state payroll forms at various prices.
eSmart Paycheck Summary
eSmart is best saved for businesses that already have a firm grasp on how to calculate their payroll and are confident in filing taxes themselves. If your company is well-organized and just needs a solution to calculate and print its payroll numbers, then eSmart Paycheck may be right for you.
Should You Use Paid Payroll Software Instead?
If the aforementioned free platforms aren’t checking all your boxes, a paid payroll software is another option. In addition to greater customer support, these apps typically come with a more diverse array of features that businesses with any number of employees can utilize.
Paid VS Free Payroll Software
While the best free payroll software can come in handy for payroll calculations and printing checks, it may not cover all the bases for completing payroll. Also, companies may not be eligible for free services as they grow in size.
If you’re looking to take your payroll support further to file taxes and make direct deposits, the time savings may be worth the cash required monthly to pony up for a paid payroll software. Many paid providers offer different payroll tiers according to access, meaning there are options for nearly any budget.
The Best Free Payroll Software Alternatives
If you decide that the free apps aren’t cutting it for your payroll and HR needs, there are plenty of other cost-effective options to consider. There are many solutions out there, so we’ve done some of the legwork to put together a list of the best payroll software for small businesses.
ADP
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ADP has been working in payroll and workplace management for decades. As an established firm, they have built their reputation on customer service and support for major companies with thousands of employees. However, ADP’s four-tiered RUN plan is geared towards small businesses with 1-49 employees. The software includes payroll processing, direct deposit, tax filing, new hire reporting. To manage HR through payroll, you will have to upgrade above the Essential RUN plan.
To determine if ADP fits your budget, you’ll have to reach out for a quote, as pricing and add-on fees are not explicitly disclosed online. For growing mid-sized businesses, the extensive features and in-depth customer support could be worth the higher prices and hidden fees. Read our complete ADP review to see if this payroll software is right for you.
Honorable Mentions
IRIS: Best UK Payroll Service
UK-based businesses with fewer than 10 employees can take advantage of IRIS’s free payroll software. Payroll calculations are done automatically on an ongoing basis once information is inputted. Data is backed up with each use, so you won’t have to start over from scratch each time you do payroll. Besides the geographic and employee constraints, another downside is that the ability to print pay stubs and reports is only free for 30 days.
Rise: Best Canadian Payroll Service
At this stage, Rise only offers payroll services for small businesses in Canada with 20 employees or less. In addition to calculating payroll, qualifying businesses can generate personalized payroll reports and completely customize their payment schedule.
Conclusion
Payroll software refers to a computer software system that provides the ability to manage and administer payrolls. The available payroll systems typically allow business entities to issue checks, track all payroll-based transactions, process paycheck distribution and other timekeeping activities, and maintain the required amount of records in compliance with local and state laws regarding payroll management.