Best Payroll Software for small business in 2018

Best Payroll Software for small business in 2018

Payroll software is designed to make your life easier. It allows you to process your employees’ payroll and onboard employees online. Some payroll software can calculate state and federal taxes and handle tax filings and payments, all automatically.

The payroll software is faster, more secure, and more accurate than third-party payroll service providers or dedicated departments. It can be deployed on-premise on local machines, or you can go for a cloud-based subscription model.

Using a payroll software is recommended by most experts and business advisers, and they suggest you get it while you are just starting your business. Yes, even with a small team, you will want to use payroll software, because soon you will find your company growing and the team getting more prominent, and this is when you are going to appreciate the benefits of a payroll solution.

But as a small business, you are on a tight budget and don’t have a lot of experience. That's where we jump in. We are going to recommend 10 of the best payroll solutions for small businesses, and all you have to do is to choose the one that best suits your needs.

The 10 Payroll Software options we are going to discuss are:

  1. Gusto
  2. Zoho Books
  3. Patriot Payroll
  4. Paychex
  5. Kronos Workforce ready
  6. Xero
  7. Wave
  8. Intuit Payroll
  9. ADP Now
  10. Dayforce HCM

 

1- Gusto

Gusto is a cloud-based platform that combines payroll, benefits administration, HR and compliance functionalities. It is designed for small businesses to help them manage their workforce’s core HR needs.

Thanks to its robust set of payroll features, automation capabilities, and its easy-to-use user interface, Gusto is used by over 40,000 business users in the United States alone.

With Gusto, you will be able to streamline and automate the calculation, payment, and submission of both the federal and state payroll taxes of your business. Also, there is one thing to less to worry about because the software is going to make sure that you are compliant with the year-end forms and taxation.

Why Use Gusto?

  • Accuracy

There are no human errors with Gusto.

  • Full compliance with Standards

Gusto meets HIPAA, ACA, and ERISA standards.

  • No long-term to tie you

You can suspend your account at any time.

  • A free trial

A one-month free trial is available so you can try out the software before committing.

  • Simple benefits administration

Gusto will handle employment tax reporting, new hire reports, detailed budget plans, workers’ comp insurance, payments, and you can even set up and manage 401(K) plans.

2- Zoho Books

Zoho Boks is a cloud-based accounting solution that’s perfect for small businesses. It is made to help them manage their finances with ease as well as their cash flow.

With Zoho Books, you can send control your expenses, send professional invoices, receive payments, and organize all financial transactions – all from a single platform.

You can manage finances per project, and it allows you to add tasks, assign team members, and follow processes from anywhere.

Why Use Zoho Books?

  • Works well with other Zoho Products

As a part of the Zoho family of solutions, Zoho Books integrates smoothly with other Zoho apps for an extensible accounting and added functionality

  • Manage and track projects

You can log in and enter the time you spend to complete any project, and the app will record the expenses and invoice the clients about it directly.

  • Work on-the-go with mobile apps

Zoho Books has dedicated apps for mobile devices, so you are always able to manage your finances on-the-go.

3- Patriot Payroll

Patriot Payroll is an online accounting and payroll platform that is designed for small and mid-sized businesses. The solution helps businesses by simplifying the processes involved in managing and handling invoices, accounting data, and salaries calculation and payments.

When using Patriot Payroll, you will be able to manage bills and payments to vendors and contractors efficiently.

You also can track those payments and generate the reports you send to your accountant.

Patriot payroll comes with essential online payroll service. This service streamlines the payroll process and makes it easier than ever before. It is fully automated and only needs you to enter your employees’ working hours and let the solution do the calculations.

Why Use Patriot Payroll?

  • Payroll Service

With Patriot payroll, you can opt for basic payroll or full-service payroll, both are affordable and do what they are designed for very well.

  • User-friendly

The solution is intuitive and user-friendly, you don’t need any training to use the software. In minutes you can set it up and start using it right away.

  • Affordable

The solution is well-priced, has no long-term contract, and doesn’t have hidden fees or penalties.

  • Accuracy

The software has been tested, audited, and bonded to ensure it is 100% accurate.

  • Security

Patriot payroll’s servers are housed in secure data centers with redundant firewalls and high-level encryption to ensure the safety and security of your data.

4- Paychex

Paychex is a complete HCM suite that combines Payroll, HR and benefits management in a single package. It is suited for businesses of all sizes and manages tasks such as HR, time and attendance, Payroll and taxes, insurance, employee benefits, 401(k) retirement plans, as well as accounting and finance.

Paychex has dedicated Care Act solutions that take action on complex health rules and regulation. The answer can automate applicant tracking and expenses management. It can also make recruiting and expense processes more comfortable and more efficient.

The payroll solution is flexible and scalable, which means you can keep using it as your business keeps growing.

Why Use Paychex?

  • Works for all businesses, made for small businesses

The solution is prepared for small and mid-sized companies to help them manage their finances, but it is scalable and flexible and can be used by large companies as well.

  • Easily-accessible info

You can access payroll information quickly via the web, email, or phone.

  • Paychex PEO

Paychex Professional Employer Organization (PEO) helps businesses handle employee relation issues.

  • Financial Platform

The suite comes with accounting and finance solutions, and these include expense management, online benefits management, Kashoo online accounting integration, and – of course – payment processing services.

To learn more about Paychex, you can check this ADP VS Paychex VS Paylocity Comparison.

5- Kronos Workforce ready

Kronos Workforce Ready is an online HR management solution that features full human capital management capabilities. These include time and attendance, scheduling, employee engagement, payroll, applicant tracking, and talent acquisition.

Kronos Workforce ready uses a single employee record, and this record is shared across all of the solution’s tools. This allows business owners to pull out reports from the database easily.

The solution always updates its data in real time to let HR managers make informed but quick decisions using the latest information available.

Why Use Kronos Workforce Ready?

  • Automation

Kronos workforce ready automates almost every HR process.

  • Self-service

The solution’s self-service features are beneficial for both workers and managers. Constant supervision is not needed so that the staff can update information on their own.

  • Full HR and HCM platform

Companies can adequately manage their workforce from end-end-end thanks to the solution’s workforce management and human capital management capabilities.

  • Detailed Reporting

Reports and analytics are comprehensive and give profound insights into the strengths of the weaknesses of specific human resource areas.

6- Xero

Xero is an industry-leading cloud-based accounting solution that is used by over half a million businesses in over 180 countries around the world and has won multiple awards.

The accounting platform is suitable for small businesses and has the functionalities to handle invoicing, inventory, expense management, project tracking, bills payment, and bank connections and reconciliation.

The solution is fully-featured, this means you can find all the features you need, these include financial reporting, sales tax calculation, online payment, and business performance dashboard.

However, the payroll feature is only available for businesses based in the U.S. and Australia.

Why Use Xero?

  • Excellent Payroll solution

Xero can process and run payrolls and automatically adjust taxes for over 20 U.S. states.

  • Detailed Reporting and Financial Overview

The reporting feature gives business owners an overview of all their business’s financial activity.

  • Secure

Xero uses multiple-approvals and two-factor authentication to minimize and eliminate financial fraud.

  • Work on-the-go

The solution’s dedicated mobile apps will let you handle your finances even when you’re away from the office.

7- Wave

Wave is a free accounting solution that is perfect for businesses that are just starting up and for freelancers and consultants. It is used by over 2 million users located in more than 200 countries around the world.

The solution combines payroll, accounting, and invoicing functions in one package that is easy to set up and use. The easy-to-navigate dashboard has everything you need and is easy to access.

Wave streamlines accounting and invoicing processes to eliminate the complexities of monitoring expenses, payments, and managing taxes.

Why Use Wave?

  • It’s completely free

It’s a free platform. There are no hidden charges, fees, or penalties to be found.

  • Simple expense tracking

Wave will streamline expense tracking and speed up the process without sacrificing accuracy through its tolls.

  • Create invoices in no time

Create professional invoices, receipts, and estimates in minutes.

  • Accept payments via credit cards

With Wave, you can monitor the status of all your invoices and accept payments via credit cards.

  • Automatic Billing

The software can automatically handle recurring billing and invoices. It can also send you notifications about paid and unpaid items.

8- Intuit Payroll

Intuit Payroll is an accounting and payroll platform designed for small businesses, entrepreneurs, and consultants. The solution can take care of payroll management with efficiency and accuracy. It can also automate tax calculations and generate paychecks.

Intuit Payroll integrates with QuickBooks for added accounting functionalities and improved cash flow and compensations.

The solution also brings tools for talent acquisition and employee management so you can hire top talent while keeping up with existing labor and hiring laws.

Why Use Intuit Payroll?

  • Payroll Management and Tax Calculation Made easy

With Intuit Payroll, you can pay employees with ease. The solution will automatically calculate payroll taxes and take them into account. 

  • Top-notch customer support

Intuit’s customer support is of the highest quality. They offer support via phone and chat, and you will always get an expert on the other side of the call or chat that will help you through your setup step-by-step.

  • Unlimited Paychecks

With your online payroll account, the solution can create and print unlimited paychecks right after you approve salaries or enter hours.

9- ADP Workforce Now

ADP Workforce now is well-known, web-based HR application that is made for small and midsized businesses. The solution helps firms automate all their HR processes using a single dashboard. From this dashboard, you will be able to manage employee payroll, time and attendance, and benefits.

You will also be able to generate insightful reports from this dashboard. ADP Workforce Now comes with a benefit plan creation wizard that you can configure to meet the policies and processes of your business.

Why Use ADP Workforce Now?

  • Benefits Administration Features

ADP Workforce Now comes with robust benefits administration features that ensure compliance with annual reporting requirement for IRS 1094 and 1095.

  • Real-Time Analytics

ADP Workforce Now synchronizes and displays analytics in real-time. You can create graphs, charts, spreadsheets, and reports and customize them to your needs.

  • Manage Human Resources

The solution comes with functionalities for Workforce and Human resources management such as recruiting, engaging, retaining, and promoting your employees.

  • See how well you are doing

With ADP Workforce Now, you get to see how your company compares against benchmark data.

10- Dayforce HCM

Dayforce HCM is an online platform which brings together payroll and tax, workforce management, analytics, benefits, talent management, and HR management in one package.

The platform gives access to real-time data across all areas of HCM to allow you to process pay, manage compliance, manage benefits enrollment, maintain HR records, and Schedule Staff.

The solution uses a single-employee record in all the HCM processes to give you a unified platform from which you can manage core human resources, payroll, benefits administration, and much more.

The platform is flexible and compatible with all popular browsers.

Why Use Dayforce HCM?

  • Embedded analytics in reports

Managers and business owners can access real-time reports which have integrated analytics.

  • Pay information Access

The solution allows employees to view their pay information through its platform. They can consider things such as pay breakdown, pay history, and statement of earnings.

  • Made for Mobile Devices

The solution’s platform was designed mainly for tablets so that managers can review, edit, and approve timecards regardless of where they are.

I hope you found this article useful if you did, share it with friends.

You can also learn about the cost of a payroll software here. For even more options, check out the Best 5 Payroll Software for Large, Mid and Small Businesses.

Feel free to leave your comments and questions below, and we will get back to you as soon as possible.

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