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Faster, smarter, easier payroll and HR As a small business owner, you’re managing more than ever. And with less time to get it all done — you can’t afford mistakes. You need a trusted payroll and HR platform that can help you st...Read more
Patriot Payroll does not have an app, but the website is optimized for mobile use. Patriot Payroll from Patriot Software is an integrated human resource (HR) and payroll management solution that helps to streamline the different...Read more
Paychex Flex is a human capital management solution that's designed using web-based modular technology and a dedicated service center to help meet the HR needs of employers of any size and industry. With a single login, users can ...Read more
Wave Payroll is a cloud-based payroll solution for small businesses. Primary features include invoicing, accounting, online payments, lending and receipts. The accounting module allows users to create custom invoices, scan receipt...Read more
CheckMark Payroll is an on-premise payroll solution for do-it-yourself payrolls, small businesses, accountants, and professional payroll services. It imports hours from a time clock or spreadsheet, tracks accrued sick and vacation...Read more
AME Professional Payroll is an on-premise payroll solution for small and midsized businesses. The solution enables users to create and print checks for gross-to-net, net-to-gross and after-the-fact entries for multiple companies, ...Read more
Employment Hero is a cloud-based human resource (HRM) management system for small and medium businesses on the up. The solution helps manage the entire employee lifecycle, with modules for recruiting, onboarding, payroll, time and...Read more
Payment Evolution is a cloud-based human resource management solution designed for small and midsize organizations. It offers payroll management and benefits administration within a suite. The payroll management module provid...Read more
Payroll Mate is an on-premise payroll management solution designed for small and midsize companies based in the United States. It allows users to manage payroll, pay employees, calculate taxes, prepare checks, create payroll repor...Read more
For a small business owner like you, there are two ways to manage the payroll process: use an in-house payroll software solution or outsource to a payroll service provider. But if you don't want to share your sensitive payroll data with a third-party payroll provider, then buying software is your best bet.
There are a number of vendors that provide payroll software tailored specifically to the needs of small businesses. This guide will give you a head start on choosing the right system.
Here’s what we’ll cover:
Small business payroll software helps small business owners streamline and automate payroll processing and employee benefits management. The software helps save time and effort as well as reduces the chances of manual payroll errors.
An online payroll solution is designed to help small firms process payroll in-house. It often includes modules for time tracking, payroll tax filing, and benefits administration. It automates data entry and tedious processes that users would otherwise have to do manually, saving both time and labor costs.
There are many different payroll solutions available on the market. Larger companies might need deeper functionality for managing Human Resources (HR) in multiple locations or tools for complex reporting as part of their payroll system. But small businesses typically need an online payroll solution with basic capabilities such as compensation, time tracking, and tax filing.
These systems often come with some or all of the following core capabilities:
Compensation | Found in every system, this application automates payroll processing. Users assign pay rates to employees, and employee hours are entered directly or imported. The system then automatically calculates wages and generates paychecks. Direct deposit options are usually offered, and bonuses, commissions, overtime, and tips can be added. |
Time and attendance | Time clock functionality allows employees to clock in and out. Administrators can also track employee attendance. |
Tax filing | Automatically prepares, files, and pays state and federal taxes. Alternatively, provides payroll tax calculations and/or documents for users to prepare and file taxes manually. |
Insurance and benefits | Some systems have functionality for insurance and benefits administration. This allows users to enroll employees in insurance benefits and manage benefit elections. Paid time off can also typically be accrued and tracked. |
Many different solutions cater to the needs of small companies, but not all small businesses are created equal. Consider what your requirements are as you begin researching for an online payroll software solution:
Basic payroll needs: If you are looking only for a basic solution to streamline payroll processing, consider entry-level, affordable products with functionality that cater specifically to your payroll management needs.
More robust workforce management needs: Perhaps you need a payroll system that also offers more robust tools such as tax compliance and filing, insurance and benefits administration, and employee management.
Growing business with payroll and HR needs: If your business is growing and you know you may need to scale up to a full HR software suite, consider a vendor that offers tiered packages that let you easily upgrade without having to learn a whole new system.
There are many benefits to choosing a payroll software solution over running payroll manually. These include:
Here are a few trends to be aware of as you search for new software in this market:
Cloud-based software:
Most of today’s small business payroll solutions are deployed in the cloud. Since users log into the software from their internet-connected device, cloud-based systems can be accessed from anywhere.
With traditional on-premise systems, businesses had to buy updated software each year to keep up with changing payroll tax laws. Now, cloud vendors simply update their products as laws change, and the changes are reflected in users’ systems automatically—with no need to buy anything new.
Mobile accessibility: As cloud-based software has become more popular, so too has mobile access to payroll systems. Many vendors now offer native mobile apps for smartphones and tablets, which provide a seamless on-the-go experience.
Some vendors offer employee self-service mobile apps, as well. These allow workers to access their own salary and benefits information remotely. Look for this trend to continue in the future.