Selecting the right payroll software is crucial for small businesses to ensure accurate and timely employee payments, tax compliance, and streamlined HR processes. In 2020, several payroll software solutions stood out for their features, ease of use, and affordability. Here’s an overview of some of the top options:
1. Gusto
Overview: Gusto is a cloud-based payroll software designed for small to medium-sized businesses. It offers full-service payroll, including tax calculations, filings, and direct deposits.
Key Features:
Automated tax calculations and filings
Employee self-service portal
Benefits administration (health insurance, 401(k), etc.)
Time tracking and PTO management
Integrations with accounting software like QuickBooks and Xero
Pros:
User-friendly interface
Comprehensive HR features
Excellent customer support
Cons:
Pricing may be higher for very small businesses
2. QuickBooks Payroll
Overview: QuickBooks Payroll, developed by Intuit, integrates seamlessly with QuickBooks accounting software, making it ideal for businesses already using QuickBooks for their accounting needs.
Key Features:
Automated payroll processing
Tax calculations and filings
Direct deposit and check printing
Employee self-service portal
Integration with QuickBooks accounting software
Pros:
Seamless integration with QuickBooks
Reliable customer support
Flexible payroll options
Cons:
May be more expensive than other options
Limited HR features compared to other software
3. ADP RUN
Overview: ADP RUN is a cloud-based payroll solution from ADP, a well-known provider of payroll and HR services. It caters to small businesses with up to 50 employees.
Key Features:
Automated payroll processing
Tax calculations and filings
Direct deposit and check printing
Employee self-service portal
HR tools and compliance support
Pros:
Trusted brand with extensive experience
Comprehensive HR and compliance tools
Scalable for growing businesses
Cons:
Pricing may be higher for small businesses
Interface may be less intuitive than other options
4. Paychex Flex
Overview: Paychex Flex is a cloud-based payroll and HR solution suitable for small to medium-sized businesses. It offers a range of features to manage payroll, HR tasks, and compliance.
Key Features:
Automated payroll processing
Tax calculations and filings
Direct deposit and check printing
Employee self-service portal
HR tools and compliance support
Pros:
Comprehensive HR and compliance tools
Scalable for growing businesses
Reliable customer support
Cons:
Pricing may be higher for small businesses
Interface may be less intuitive than other options
5. OnPay
Overview: OnPay is a cloud-based payroll software designed for small businesses. It offers a simple and affordable solution for managing payroll and HR tasks.
Key Features:
Automated payroll processing
Tax calculations and filings
Direct deposit and check printing
Employee self-service portal
HR tools and compliance support
Pros:
Affordable pricing
User-friendly interface
Comprehensive HR and compliance tools
Cons:
Limited integrations with other software
May lack advanced features for larger businesses
Conclusion
Choosing the right payroll software depends on your business’s specific needs, budget, and existing tools. Gusto and QuickBooks Payroll are excellent choices for businesses seeking comprehensive features and integrations. ADP RUN and Paychex Flex offer robust HR and compliance tools, making them suitable for businesses with more complex needs. OnPay provides an affordable and user-friendly option for small businesses looking for basic payroll services. Evaluate each option carefully to determine which best aligns with your business requirements.
