Payroll Software Options

INTRODUCTION

There are a number of payroll software options on the market today. If you’re looking for payroll software, you’ve probably heard about ADP, Intuit, and Paychex. These are the “big three” vendors every company uses. Is there any room for alternatives?

An article about the three different payroll or HR software options that are typically used. This type of software is what’s used to process payroll and manage employee records. Learning more about these solutions will help you decide which one is right for your business.

Do you need to keep track of your employees’ payroll hours? You have a couple options.

dition, you may also want to consider looking into the emerging payroll system developments. One of which is the increasing acceptance of cryptocurrency and blockchain in financial transactions, including payroll payments. It’s proven to be cost-effective, and many admire how easy it is to implement.

Blockchain was originally developed as an accounting system for cryptocurrencies. Today, this revolutionary system that uses distributed ledger technology (DLT) has been enhanced to manage employee payments, while maintaining privacy and transparency in the documentation, processing, and sharing of payroll data.

1. Xero

Xero is a leading financial collaboration app that is designed to meet the needs of small businesses regardless of their industry. Accountants term this solution as one of the handiest assets for managing financial activities. Our experts found Xero to be usable and friendly, and the platform offers features that help close important accounting gaps.

Even lay users without any accounting knowledge will find Xero easy to use as it converts even complex financial concepts into an enjoyable experience. For example, it simplifies double bookkeeping and makes it easily manageable for non-expert users. This usability is the main reason why we rate Xero as a top application on our list. Another advantage is if you have not hired the services of a bookkeeper, you can benefit from the guidance of Xero’s certified advisors.

Xero is a New Zealand-based company that was founded in 2006 and today has 20 offices in different parts of the world. Currently, it integrates with business systems such as Bode Tree, Harvest, Synergy 8, and Carbon Analytics, among many more. Also, it has native apps for both iOS and Android devices. Pricing packages are affordable and start from $20 monthly for the Starter Plan. The Basic Plan costs $30 per month while the Premium offering is only $40.

Key Features of Xero

Bank connections and reconciliation
Invoicing module and purchasing
Multi-currency accounting
Free unlimited email support inventory

Detailed Xero ReviewREAD MORE

2. QuickBooks Payroll

There is a QuickBooks Payroll module that works inside QuickBooks Online. It has a fast and free 24-hour direct deposit, where you can submit payroll for your whole team until 5 PM the day before payday. Furthermore, they recently rolled out a new same-day direct deposit capability.

Like many QuickBooks modules and products, the user interface is very intuitive. Moreover, it is also fitted with a comprehensive set of features for payroll and tax compliance. The module also gives you automatic tax updates. It smartly monitors the latest state and federal tax rates to keep your payroll accurate. Furthermore, you can file and pay taxes right in the platform easily. Moreover, the tax forms are made readily available.

Try out QuickBooks Payroll with their free trial

However, if you only want a full-service payroll system, Intuit also has a QuickBooks Payroll standalone service. This includes the same-day direct deposit capability and expert help from US-based payroll experts. But, it does not include the QuickBooks suite.

The platform integrates well with Intuit products such as manufacturing accounting software, nonprofit accounting software, and many others. Of course, it integrates with all QuickBooks products. Additionally, QuickBooks Payroll has native Android and iOS applications. The standalone Full Service Payroll solution has a base price of $24 per month. Currently, this is a discounted price cut down from $80. Also, each user is charged $4.

Key Features of QuickBooks Payroll

New same-day direct deposit capability
Help from US-based experts
Labor law posters and time tracking
1099 contractor forms and services
Fast, unlimited payroll runs

Detailed QuickBooks Payroll ReviewREAD MORE

3. Gusto

Gusto is a robust platform that combines payroll software, compliance, and benefits administration features. It is designed for small businesses in the US to help them grow. Also, it allows these companies to easily manage their staff members’ HR needs. Furthermore, the application offers solid payroll features, a well-designed user interface, and impressive automation and innovation tools.

The platform allows users to simplify their business processes and has everything under one roof. This is from payroll to benefits. Additionally, you can automate calculations, payments, and even the submission of the company’s payroll taxes. This can help you comply with internal and external standards and regulations with ease.

If you want to investigate the features closely, you can easily do so when you sign up for a Gusto free trial.

Try out Gusto with their free trial

Today, more than 40,000 businesses in the US use Gusto for their payroll needs. It also integrates well with many business systems and applications, including Deputy, Receipt Bank, FreshBooks, Xero, QuickBooks, and Bamboo HR, among a host of others.

There are three pricing plans to consider. First, the Core plan, the lowest-priced plan, is designed to help smaller teams. It has a base price of $39 per month plus $6 per user. Secondly, there is the Complete version, which is priced for $12 per user a month with an additional base cost of $39 per month. This is a more advanced version designed for busy and growing businesses. Lastly, the Concierge plan is the premiere version designed for enterprise use. It is complete with certified HR support, including certified HR professionals. Its base price is $149 per month, plus a $12 additional charge per user.

Key Features of Gusto

Error-proof payroll management
Simplify benefits administration
Make tax reporting and compliance easy
Intuitive dashboards and controls
No long-term contract

Detailed Gusto ReviewREAD MORE

4. OnPay

OnPay is easy to use and has rich functionalities, making it one of the most popular solutions in the category. The product is designed to cater to small and medium-size companies as it has myriad highly-scalable applications. This cloud-deployed system can streamline not only payroll processes but also automate tax filing and payment procedures. Payroll data like hours, tips, reimbursements, and bonuses are easily entered into the system, which can also manage separate processes like compensation and benefits insurance.

This robust platform is capable of managing unlimited monthly payroll and adapts to the requirements for W-2 and 1099, whether for full-time or contract employees. Depending on user preference, one can choose to pay through check or direct deposit. However, to be able to avail of this feature, users have to apply for it and pass a risk assessment test first. These capabilities and more make OnPay one of the most cost-effective payroll tools around.

Try out OnPay with their free trial

The solution integrates well with many business systems ranging from accounting software platforms, timekeeping, and HR like Xero, TSheets, Vestwell, Zenefits, and Magnify, among many. The pricing starts with a $36 base fee per month and charges $4 per user per month. Thus, for five people, it is priced at $56 per user per month.

Key Features of OnPay

Unlimited monthly pay runs
Use the platform for all tax filings and payments
Supports multi-state payroll
Available in all 50 states
40+ payroll reports

Detailed OnPay ReviewREAD MORE

5. Sage 50cloud

Sage 50cloud provides accounting, inventory, and payroll management for businesses of any size. The solution offers a stand-alone payroll application for the United Kingdom. Full Sage Payroll Services are available in the US. On the other hand, the UK version provides accurate and automatic payroll generation and management, with an eye for ensuring full compliance with UK payroll, tax, and pension laws. Moreover, an optional Pensions Module is offered to automate major tasks, which should save you a large amount of time while barring the risk of human errors.

Also, Sage 50cloud empowers your business and employees with handy, self-service features. Moreover, you can invite employees to sign up on the cloud application, and they can then view their payslips and submit necessary timesheet information. Since access is protected by tight security, you and employees can have peace of mind about the risk of sensitive information falling into the wrong hands.

The platform integrates seamlessly with QCommission, Realtrac, Skype, Microsoft products, and many more. Also, it has native applications for Android and Apple devices.

The Pro plan costs for $44.97 per month, while the Premium plan sets you back for $69.62 per month. Then, the advanced Quantum plan is priced at $175.87 per month.

Key Features of Sage 50Cloud

Make and track online and mobile payments plus multi-currency support
Pensions Module
Payslip templates
Keep records for Class1A company cars
Pay directly from the software

Detailed Sage 50cloud ReviewREAD MORE

6. Paycor

Paycor is a comprehensive Human Capital Management (HCM) platform with robust payroll solutions and powerful HR management capabilities rolled into one. As one of the top HRIS systems today, Paycor covers your bases from recruiting and onboarding to tax compliance, payroll, reporting, and everything in between.

The dashboard is highly intuitive, and features can be highly customized to your organizational needs. Furthermore, you can manage your worker’s compensation, payroll and tax compliance, and HR management processes, all under one roof. Thus, with its powerful reporting tools, you can track employee time and other important details.

Since 2005, Paycor has been used by more than 30,000 SMBs because of its comprehensive features.

With Paycor, you can integrate and expedite your employee-related processes in a scalable manner. Also, the platform integrates with other business systems such as ESR, PayCard, WageWorks, Ameritas, and many others. Furthermore, it has native Android and iOS apps to keep you connected with your business all the time, anywhere.

Paycor is tailor-made to business needs. Thus, it is offered via a private quote.

Key Features of Paycor

Integrated with HR management software features
Includes an onboarding module
Payroll and tax compliance
Highly-customizable

Detailed Paycor ReviewREAD MORE

7. Payment Rails

Payment Rails is a payout platform that helps businesses send payouts to any country and ensure tax compliance. With Payment Rails, businesses can send mass payouts in various countries without navigating complex corporate structures or setting up local bank accounts.

Payment Rails can be used by growing businesses that aim to penetrate new international markets. They can also be utilized by businesses paying freelancers, independent contractors, advertisers, affiliates on online marketplaces and platforms.

Try out Payment Rails with their free trial

With Payment Rails, businesses have a convenient way to send payouts on-demand to over 220 countries in over 135 local currencies. This well-rounded payout platform allows the sender to track payments in real-time and the recipient to validate their bank account and to automate returned payments. Payment Rails also helps organizations digitize their tax compliance processes so tax season will be less of a burden for them.

Payment Rails features live payment tracking which enables the sender to see every step of the transaction in the payment status view. On the other hand, a recipient widget can be set up which makes it easier to capture and validate bank account details. Meanwhile, the tax compliance component hosts a variety of features, from digital tax form collection to TIN matching and IRS E-FILE reporting.

Popular Small Business Payroll Software Comparisons

GustoVSPatriot Payroll PaycorVSHubstaff RipplingVSPaychex Flex ZenefitsVSRUN Powered by ADP APSVSPaylocity Square PayrollVSCalamari

CONCLUSION

Imagine the days when you had to hand-write paychecks to each employee. And then, you’d have to write separate checks to the government, depositing all that money in your bank account. It was a draining, money-losing chore. They were dark days, my friend.