The Best Payroll Software for Small Business Compared

Are you tired of the endless headaches that come with managing payroll for your small business?

Keeping track of employee hours, calculating taxes, and ensuring compliance with constantly changing regulations can be overwhelming. Fortunately, there is a solution!

Cloud-based payroll software can help you streamline your payroll management and free up time to focus on what really matters - growing your business.

In this article, we'll take a deep dive into the top payroll software options available for small businesses, and compare their features, pricing, and user reviews. Whether you're looking for seamless time tracking, direct deposit, or mobile app integration, we've got you covered.

By the end of this article, you'll have all the information you need to make an informed decision and find the best solution for your payroll management needs. So why wait? Let's dive in and discover how you can take the headache out of payroll management!

What to Consider When Choosing Payroll Software for Small Business

When choosing payroll software for your small business, there are a few key factors to consider to ensure you find the right solution for your needs. Here are some of the things to keep in mind:

Features to Look For

When evaluating payroll software options, it's important to consider the specific features that are most important for your business. Some common features to look for include:

• Time tracking: Many payroll software solutions offer integrated time tracking, which can help you keep track of employee hours and ensure accurate payroll processing.
• Direct deposit: Offering direct deposit to your employees can save time and reduce the risk of errors associated with paper checks.
• Tax compliance: Payroll software should include features that help ensure compliance with federal and state tax regulations, including tax tables and withholding calculations.
• Employee self-service: Allowing employees to access their payroll information, such as pay stubs and tax documents, can save time and reduce administrative work for your HR department.

Pricing and Cost

When considering payroll software options, it's important to evaluate the cost and pricing structure of each solution. Some payroll software providers charge a flat monthly fee, while others may charge per employee or per payroll run.

Additionally, some solutions may charge additional fees for features such as direct deposit or tax compliance. Be sure to evaluate the pricing structure and consider how it aligns with your budget and payroll processing needs.

User Friendliness

Payroll software should be easy to use and intuitive for both you and your employees.

Look for a software solution that offers a user-friendly interface and includes helpful resources such as video tutorials or user guides.

Additionally, consider how easy it is to add new employees or make changes to employee information in the system.

Customer Support

Finally, it's important to consider the level of customer support provided by each payroll software provider.

Look for a provider that offers responsive customer support, whether through email, phone, or live chat.

Additionally, consider the availability of resources such as a knowledge base or community forum to help you troubleshoot issues or get answers to common questions.

Top 5 Payroll Software for Small Business

Here are some of the top payroll software options available for small businesses:

QuickBooks Online

QuickBooks Online is a popular cloud-based accounting software solution that also offers payroll management features.

Some of the key features of QuickBooks Online's payroll module include:

• Automated tax calculations and filings
• Direct deposit for employees
• Time tracking and overtime calculations
• Mobile app for iOS and Android

Pricing for QuickBooks Online's payroll module starts at $45/month plus $4/employee per month.

Gusto

Gusto is a comprehensive payroll and HR software solution that offers a variety of features to small businesses. Some of the key features of Gusto's payroll module include:

• Direct deposit for employees
• Tax compliance and filings
• Time tracking and overtime calculations
• Employee self-service portal

Pricing for Gusto's payroll module starts at $39/month plus $6/employee per month.

OnPay

OnPay is a cloud-based payroll software solution that is designed specifically for small businesses. Some of the key features of OnPay's payroll module include:

• Automated tax calculations and filings
• Direct deposit for employees
• Time tracking and overtime calculations
• Mobile app for iOS and Android

Pricing for OnPay's payroll module starts at $36/month plus $4/employee per month.

Pychex

Paychex is a comprehensive payroll and HR software solution that offers a variety of features to small businesses. Some of the key features of Paychex's payroll module include:

• Automated tax calculations and filings
• Direct deposit for employees
• Time tracking and overtime calculations
• HR compliance assistance

Pricing for Paychex's payroll module varies depending on the specific services and features you require, so it's important to contact Paychex directly for a quote.

ADP Run

ADP Run is a payroll software solution that is designed for small businesses with up to 49 employees. Some of the key features of ADP Run's payroll module include:

• Automated tax calculations and filings
• Direct deposit for employees
• Time tracking and overtime calculations
• Employee self-service portal

Pricing for ADP Run's payroll module starts at $59/month plus $4/employee per month.

QuickBooks Online

QuickBooks Online is one of the most popular payroll software solutions available for small businesses, and for good reason. Here are some of the key takeaways about QuickBooks Online:

• QuickBooks Online's payroll module is available as an add-on to their accounting software solution.
• The payroll module offers a variety of features, including automated tax calculations, direct deposit, and time tracking.
• QuickBooks Online's payroll module also includes a mobile app for iOS and Android, which can be helpful for on-the-go payroll management.
• Pricing for QuickBooks Online's payroll module starts at $45/month plus $4/employee per month.

Gusto

Gusto is a comprehensive payroll and HR software solution that is designed to help small businesses manage their payroll more efficiently. Here are some of the key takeaways about Gusto:

• Gusto's payroll module includes a variety of features, such as direct deposit, tax compliance, and employee self-service.
• Gusto's payroll module is also designed to be user-friendly and intuitive, with helpful resources such as a knowledge base and live customer support.
• Pricing for Gusto's payroll module starts at $39/month plus $6/employee per month.

OnPay

OnPay is a cloud-based payroll software solution that is designed specifically for small businesses. Here are some of the key takeaways about OnPay:

• OnPay's payroll module includes features such as automated tax calculations, direct deposit, and time tracking.
• OnPay's payroll module is also designed to be user-friendly, with a clean and intuitive interface that makes it easy to manage your payroll.
• Pricing for OnPay's payroll module starts at $36/month plus $4/employee per month.

Paychex

Paychex is a comprehensive payroll and HR software solution that offers a variety of features to small businesses. Here are some of the key takeaways about Paychex:

• Paychex's payroll module includes features such as automated tax calculations, direct deposit, and time tracking.
• Paychex also offers HR compliance assistance, which can be helpful for small businesses that are navigating complex regulations.
• Pricing for Paychex's payroll module varies depending on the specific services and features you require, so it's important to contact Paychex directly for a quote.

ADP Run

ADP Run is a payroll software solution that is designed for small businesses with up to 49 employees. Here are some of the key takeaways about ADP Run:

• ADP Run's payroll module includes features such as automated tax calculations, direct deposit, and time tracking.
• ADP Run's payroll module is also designed to be user-friendly, with a clean and intuitive interface that makes it easy to manage your payroll.
• Pricing for ADP Run's payroll module starts at $59/month plus $4/employee per month.

Common Features of Payroll Software for Small Business

While the specific features of payroll software can vary depending on the provider, there are some common features that are often included. Here are some of the most common features of payroll software for small businesses:

Automated Tax Calculations and Filings

One of the biggest benefits of payroll software is that it can help automate the process of calculating and filing taxes. Many payroll software solutions include up-to-date tax tables and withholding calculations, which can help ensure accurate tax calculations and filings.

Direct Deposit

Offering direct deposit to your employees can save time and reduce the risk of errors associated with paper checks. Many payroll software solutions offer direct deposit as a feature, which can be a major time-saver for small business owners.

Time Tracking and Overtime Calculations

Managing employee time and calculating overtime can be a major headache for small business owners. Payroll software can help automate these processes, making it easy to keep track of employee hours and ensure accurate payroll processing.

Employee Self-Service Portal

Allowing employees to access their payroll information, such as pay stubs and tax documents, can save time and reduce administrative work for your HR department. Many payroll software solutions include an employee self-service portal as a feature.

Mobile App Integration

In today's fast-paced business environment, it's important to be able to manage your business on the go. Many payroll software solutions offer mobile app integration, which can make it easy to manage your payroll from your smartphone or tablet.

Pros and Cons of Payroll Software for Small Business

While payroll software can offer many benefits to small businesses, there are also some potential drawbacks to consider. Here are some of the pros and cons of using payroll software for small business:

Pros

• Increased efficiency: Payroll software can help automate many time-consuming payroll management tasks, freeing up time to focus on other areas of your business.
• Reduced errors: Payroll software can help reduce the risk of errors associated with manual payroll processing, such as miscalculations or incorrect tax filings.
• Compliance with regulations: Payroll software can help ensure compliance with federal and state tax regulations, as well as other HR regulations such as overtime rules.

Cons

• Cost: Payroll software can be expensive, especially if you require additional features such as tax compliance or direct deposit.
• Learning curve: Implementing new software can be a learning curve for both you and your employees, which can take time away from other important tasks.
• Data security: Storing sensitive employee data in the cloud can pose a potential security risk, so it's important to choose a provider with robust data security measures in place.

Conclusion

Managing payroll can be a headache for small business owners, but payroll software can help streamline the process and free up time to focus on growing your business.

By considering factors such as pricing, features, and user-friendliness, you can find the right payroll software solution for your needs.

Whether you choose QuickBooks Online, Gusto, OnPay, Paychex, ADP Run, or another provider, be sure to evaluate the pros and cons of each solution to ensure you're making an informed decision.

With the right payroll software in place, you can take the headache out of payroll management and focus on what really matters - growing your business.