5 Best Payroll Software for Small Businesses
Payroll management is a difficult and time-intensive task that should not be handled manually. In a survey by the NSBA (National Small Business Association) in the U.S., 33% of small businesses said they spend over 80 hours a year on calculating and filing federal taxes which include payroll taxes. 11% of small companies stated they spend more than 10 hours per month on payroll functions. This shows the importance of investing in a quality payroll software solution for small businesses.
Payroll management is an essential task for every firm and accurate processing is vital to ensure employees get the correct salaries they deserve. It takes a lot of time to calculate hours and wages, manage deductions, input the exact payment amounts, and process checks and direct deposits, without making any errors. 33% of businesses make payroll mistakes as per the IRS.
To save time and make your payroll processing accurate, you can buy a complete payroll solution that offers all the needed features. We help you by providing the top features and benefits of the 5 best payroll software tools for small businesses.
UZIO is an integrated HRIS with payroll services and features, benefits administration, and workers’ compensation modules. You can use it to manage, monitor, and analyze HR, compensation, payroll, and employee benefits tasks. UZIO can be effectively utilized by employers, employees, and brokers. The software offers different features for each user type.
Brokers can use UZIO’s client management hub to handle enrollments and proposals. Employers can utilize a range of specialized features to manage their HR tasks and business processes. Employees are given policy visibility and decision support tools to help them make compliant and right decisions.
- Onboarding & off-boarding
- Unlimited payroll
- Time-off tracking
- In-sync with benefits
- Automatic salary changes
- UZIO Legal
- Access to complete benefits
- 401(K) plans synchronized with payroll
- Easy tax administration
UZIO offers pricing by quote. Contact them directly to get customized pricing.
2. Paychex Flex
Paychex is a slightly expensive payroll solution but still very popular among small businesses. The platform is robust and can be difficult to set up and use. This is because you need to add plenty of personal data to start with and generating reports entails added costs and red tape. However, it is widely used in a variety of sectors.
- Unlimited amount of custom fields
- Helpful payroll reminders
- Cross-system support for self-service tools and payroll
- Excellent export and import capabilities
Paychex Flex offers custom pricing based on your needs.
Gusto stands out for its user-friendliness and for this reason it is a fast-growing payroll solution on the market. The software is simple to install and use, and offers an array of useful features. This makes it a front-runner in the category of payroll software.
- Unlimited payroll runs per month
- Services offered to both 1099 contractors and W-2 employees
- Staff self-service site that includes new hire onboarding
- Payroll reminders
- Reasonable pricing
- Top-notch user experience
Gusto offers 4 packages:
- Concierge - $149/mo base price + $12/mo per person
- Complete - $39/mo base price + $12/mo per person
- Core - $39/mo base price + $6/mo per person
- Basic - $19/mo base price + $6/mo per person
4. Intuit Online Payroll
Intuit is a payroll software system for providers that process payroll for multiple clients. It functions as a payroll hub that bookkeepers can use to manage all their accounts in a single location. The product integrates effortlessly with other Intuit software tools and Quickbooks. Thus, if you use Quickbooks for accounting, you can run the payroll on Intuit and integrate the two platforms to minimize data entry and errors.
Intuit Online Payroll can be marketed as a white-label product. This means you can market this software as your firm’s payroll solution since your clients would not know that you are using it as a backend for your payroll management.
- Customer portal with varying access levels
- Ideal for multiple payroll accounts
- Affordable cost
- Easy to integrate with Quickbooks products
- Intuit Online Payroll Basic - $35 + $4 per employee
- Intuit Online Payroll Enhanced - $50 + $4 per employee and contractor
- Intuit Online Full Service Payroll - $115 + $4 per employee and contractor
- Intuit Online Payroll Basic - $350 + $4 per employee
- Intuit Online Payroll Enhanced - $500 + $4 per employee and contractor
5. QuickBooks Online Payroll
QuickBooks is one of the most widely used accounting and payroll software tools. It is popular in North America as well as in the U.K., Australia, and New Zealand. The reason is the product makes payroll management easy even for lay users.
- Multiple integrations available
- Allows you to do bookkeeping in-house
- Versatile software that is used in many industries
- Small businesses can afford the reasonable cost
- Staff self-service portal
- A popular platform that is used for invoices, inventory management, general accounting, and other purposes
QuickBooks Online Payroll offers 3 plans:
- Save 50% for 3 months
- +$4/employee per month
- Save 50% for 3 months
- +$8/employee per month
- $62.50 /mo
- Save 50% for 3 months
- +$10/employee per month
That then is the lowdown on the 5 best payroll software solutions for small businesses available on the market. Each has its strengths and minus points and you can analyze them minutely to select the right one for your company needs.