One of the largest expenses of businesses, the Payroll process could prove to be a daunting experience for organizations, as payroll mistakes are for real and happen quicker than you might anticipate.
The result – Unhappy employees and heavy fines for employers defaulting on payrolls.
Quick Fix: Automated Payroll Solutions
The payroll services over the years have undergone tremendous changes.
With evolving technology, the traditional pen-and-paper payroll systems have given way to the online payroll system – a trusted HR software for professionals.
What’s more, this system could be used by both small- and medium businesses alike.
Got your interest, did we?
Well, suffice to say, if your organization has still not adopted a payroll system, then you are definitely missing out on something.
Now, wait a minute, before you pick any payroll service provider you should know what to look for in it. Some critical features that make the best payroll software include –
● Process and management of payroll
● No checks just direct deposit is another key feature of payroll services
● Tax filing features are another feature your payroll services provider should have.
● Last but definitely not the least the best payroll software should also be able to administer and manage compensation
In addition, to the above-mentioned features, payroll service providers should also possess features like – Employee self-service (wherein the employees are no longer
dependent on HR professionals and can perform some of the functions on their own); the automatic salary changes would eliminate the need for manually updating an employee’s salary.
There’s more to best payroll software systems that include
1. Being in-tuned with the benefits 2. They have an intuitive dashboard
So now that you know what the best online payroll system should have let’s compare some major players and see which one suits your needs. For your Complete payroll Solutions, take your pick from the best payroll software providers that offer fully automated payroll services.
Gusto takes care of all the payroll and payroll tax responsibilities of an organization specifically for W-2 employees, 1099 freelancers, and contractors. Gusto’s cloud-based payroll system is easy to use and offers numerous valuable features like direct deposit, an autopilot tool, new-hire reporting, and detailed payroll reports. Ideal for small businesses, Gusto payroll software also allows an organization to classify employees as full-time, part-time, or freelancers/contractors. As far as pricing of the payroll software is concerned Gusto offers plans like Complete and Concierge at $12 per month per person plus a $149 monthly fee.
Providing a complete HR solution including payroll, Namely, is suitable for mid-sized enterprises. The payroll system manages benefits, and payroll including talent management – onboarding, goals, and reviews. Keeping things simple for your HR team, Namely’s payroll module ensures automatic tax filing, ACA reporting, and year-end reporting as well. Interestingly, Namely doesn’t reveal its pricing publicly, however one online source NerdWallet had indicated that Namely costs around $15-$30 per employee per month.
The cloud-based payroll platform of UZIO offers seamless integration with the rest of your HR and benefits data including health insurance, 401(k), workers’ compensation, time, and attendance. With a flexible payroll schedule with weekly, biweekly, semimonthly, and monthly options, the UZIO payroll system is ideally suited for small and medium-sized enterprises. Thus ensuring that payroll processing is easier and fuss-free and with a promise that the HR team would not be daunted by paydays anymore. UZIO’s payroll system helps you determine whether you have met the ACA requirements and then make it easy for you to track it as well. Result: no more losing your sleepover payroll tax administration, complex calculations, and juggling compliance forms. It adapts to changing tax laws and files payroll taxes on time. Offering competitive pricing at around $4 per employee per month and a fixed service fee of $30 per month, with unlimited payrolls, UZIO is the most affordable payroll platform in the US.
Zenefits payroll features are fully integrated that are automatically connected with the HR ecosystem within an organization. Result: time-saving that is unbelievable. Zenefits offers easy and reliable payroll software that makes payroll pain a thing of the past. It also manages W-2 workers, freelancers, and contractors. Some of the advanced payroll features include — new hire onboarding sync, time tracked and hours worked. Automatic salary changes, time off sync, and benefits deduction sync are some of the other features. Zenefits offers a Zen plan at $27 per month.
Paychex offers full-featured payroll service and manages payroll processing and tax obligations as well. With a flexible payroll schedule with weekly, biweekly, semimonthly, and monthly options, Paychex, in addition, manages various including part-time W-2 workers, 1099 contractors, and freelancers. Paychex can also manage all types of employees, including part-time W-2 workers, 1099 contractors, and freelancers. Paychex offers plans like Flex Pro that cost around $158 per month. Their per employee per month cost is about $4.
Whichever payroll service provider you choose, choose it wisely after weighing all the pros and cons. As mentioned earlier, payroll is a huge expense, so go for a payroll system that offers all the prominent features at an affordable price. Pricing plays an important part in selecting the best payroll system, especially for small- and medium enterprises.
Ensure that your payroll system has all the prominent features to help you keep your payroll filing error-free.