Best Payroll Softwares for Small Businesses in 2019 - PowerPoint PPT Presentation

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Best Payroll Softwares for Small Businesses in 2019

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Title: Best Payroll Softwares for Small Businesses in 2019


1
BEST
PAYROLL SOFTWARES For small businesses in
2019
2
PAYROLL SOFTWARE
While calculating employees hours and cutting
paychecks, are you certain youre calculating the
payroll taxes appropriately? Are you in
compliance with the state and federal employment
guidelines?
Working out this incorrectly can lead to
penalties or lawsuits. Youre on a budget and
might not afford to pay a full-time bookkeeper.
Luckily, many payroll softwares can help you do
the work for you at little bookkeeping costs.
Productive team is the key to a profitable
business and ensuring them theyre being paid on
time is the fundamental element of their
performance. This is why having the best payroll
software for your small business is essential.
Whether youre looking for a free payroll
software, or paid full-service payroll software,
there are many distinctive options available for
you. Check out our top picks for the best small
business payroll software to choose one that
works for you.
3
Best Overall GUSTO
  • Automated payroll, taxes, and filings (Automated
    taxes, Payroll on AutoPilot, W-2s and 1099s, New
    hire reporting, Child-support garnishments, and
    Tip credits minimum wage adjustment)
  • Filing of all federal, state, and local payroll
    tax forms (Form W-2, Form 940, Form 1099, Form
    941, Form 8974)
  • Flexible payroll features (Multiple states,
    Unlimited payrolls, Contractor payments,
    Unlimited bonus and off-cycle payrolls, Easy
    cancellations, Flexible payment schedules,
    Net-to-gross calculations, Multiple pay schedules
    Deductions, Hourly and salaried employees
    Multiple pay rates, Garnishments, Reimbursements)
  • Advanced payroll features (Payroll reports.
    Accounting integrations, Integrated pre-tax
    benefits Federal RD Tax Credit, Time-tracking
    integrations, Expense integration, FICA Tip
    Credit for restaurants)
  • Employee management (Direct deposit, Paperless
    employee onboarding, Digital paystubs, Charitable
    donations, Lifetime accounts, Teams, Vacation and
    sick policies)
  • Online and on the go (No payroll setup fees,
    Mobile, Digital signatures, Calendar sync,
    Collaboration)

Gusto is a beautifully designed, full-service
cloud-based payroll software that makes it easy
to hire, pay, insure, and support your team with
numerous features and a positive
reputation. Gusto has three different plans
Concierge (12/mo per person plus 149/mo base
price), Complete (12/mo per person plus 39/mo
base price), and Core (6/mo per person plus
39/mo base price). Every plan includes the
following features
Most software providers charge extra fees for
automatic tax filing, wage garnishment, and
workers compensation features, making Gusto
overall the best payroll software for small
business owners. Gusto also offers extra benefits
like 401(k)s, FSAs, HR and administration
services, setting up tax-advantaged spending team
accounts, that other providers dont offer.
4
QuickBooks Online Self-Employed
Best Interface QuickBooks
  • This plan is specifically for independent
    contractors and freelancers who file a Schedule C
    form with their 1040 at year-end.
  • The cost of QuickBooks Self-Employed is 15 per
    month.
  • This allows you to separately import and
    categorize your business and personal
    transactions from your bank accounts and credit
    cards.
  • It also helps estimate quarterly tax payments to
    avoid late fees.
  • Automatic track mileage via mobile app.
  • Use QuickBooks receipt capture tool to record
    your expenses and maximize tax deductions.
  • Use QuickBooks Payments option to create and send
    invoices to track sales, and accept credit cards
    and bank transfers from customers within the
    invoice at additional fees.
  • Invite your accountant to evaluate your books at
    no extra cost
  • Connect to TurboTax to file your state and
    federal returns at additional fees.
  • 24/7 customer Support via live chat and email.

QuickBooks, is a well-known high-quality
accounting software, making it a solid choice for
small business payroll. Whether you just starting
or moving your existing books, there are many
QuickBooks Online subscription options to fit
your business needs. The overview and features of
QuickBooks five different subscription plans are
as follows
5
QuickBooks Online Simple Start
Best Interface QuickBooks
  • The plan is best suited for sole proprietors,
    LLCs, partnerships, and other types of small
    businesses with configuration of 250 chart of
    accounts.
  • The cost of QuickBooks Simple Start is 25 per
    month.
  • Track income, expenses, accounts receivable,
    sales, and monitor cash flow.
  • Import and categorize transactions from your bank
    accounts and credit card accounts
  • Lower data entry and keep books current by
    connecting with thousands of financial
    institutions.
  • Unlimited estimates, invoices, and sales
    receipts.You can also use sales form templates to
    create custom invoices, with three custom fields.
  • Automatic calculations and filing of sales tax
  • Use QuickBooks receipt capture tool to upload,
    email, or take photos of your receipts
  • Use mobile app to create and track sales
    transactions
  • The subscription is for one user, but you
    can invite two accounting firms to assess your
    books at no extra cost.

QuickBooks, is a well-known high-quality
accounting software, making it a solid choice for
small business payroll. Whether you just starting
or moving your existing books, there are many
QuickBooks Online subscription options to fit
your business needs. The overview and features of
QuickBooks five different subscription plans are
as follows
6
QuickBooks Online Essentials
Best Interface QuickBooks
  • You can manage multiple users, add three
    users, and configure their access. You can also
    invite employees and contractors to enter their
    hours with time tracking-only access.
  • Easily run reports to see billable time by
    customer and review time entries.
  • Add, review and pay vendor bills and track
    accounts payable with detailed reports.
  • Automatic vendor bill payments with Bill Pay at
    extra
  • Create recurring transactions, invoices, sales
    receipts, bills, on a schedule, as a template,
    and with reminders.
  • Track income and expenses in multiple currencies
    for international transactions.
  • Run 40 reports to monitor your business health.
  • Review detailed financial reports and share
    customer reports with other users.

QuickBooks, is a well-known high-quality
accounting software, making it a solid choice for
small business payroll. Whether you just starting
or moving your existing books, there are many
QuickBooks Online subscription options to fit
your business needs. The overview and features of
QuickBooks five different subscription plans are
as follows
7
QuickBooks Online Plus
Best Interface QuickBooks
  • Multiple user management with addition up to five
    users.
  • Review specific business segments with classes
    and location tracking
  • Track inventory using first-in, first out (FIFO)
    valuation and easily review quantity on hand.
  • Create PO, receive products via payment or bill,
    and monitor stock status.
  • Run reports for stock counts and create inventory
    adjustments, as needed.
  • Mark expenses as billable to pass through to
    customers and projects.
  • Budgets creation and monitor income and expenses.
  • Run budget vs. actual reports to measure
    performance.
  • Run 65 reports to monitor your business health.
  • Detailed reporting, transactions tracking,
    inventory management, budgeting, and more.

QuickBooks, is a well-known high-quality
accounting software, making it a solid choice for
small business payroll. Whether you just starting
or moving your existing books, there are many
QuickBooks Online subscription options to fit
your business needs. The overview and features of
QuickBooks five different subscription plans are
as follows
8
QuickBooks Online Advanced
Best Interface QuickBooks
  • Combines the features of Simple Start,
    Essentials, and Plus, with more additional
    features
  • Multiple user management with addition up to 25
    users and up to three accounting firms.
  • Create multiple invoices at once for batch
    processing with Accelerated invoicing.
  • Unlimited classes and location tracking, track
    transactions across business segments.
  • A subscription to Fathoma 468 per year value.
  • Priority Circle support including a dedicated
    support manager
  • Five online QuickBooks courses at 2,000 value to
    learn QuickBooks Online.

QuickBooks, is a well-known high-quality
accounting software, making it a solid choice for
small business payroll. Whether you just starting
or moving your existing books, there are many
QuickBooks Online subscription options to fit
your business needs. The overview and features of
QuickBooks five different subscription plans are
as follows
9
Most Affordable WAVE
There are other two plans of Wave A Self-Service
Plan and a Full-Service Plan. Both these plans
have locality requirement. In most states, Wave
offers its self-service payroll plan at the base
price of 20 plus 4 per employee and 4 per
contractor per month. The features include fast
and easy employee payments, workers compensation
coverage, W-2 and 1099 tax form preparation, and
great customer service. Waves full-service
plan is available in eight states only
(California, Florida, Illinois, New York, North
Carolina, Texas, Virginia, and Washington) at the
base price of 15 plus 4 per employee and 4 per
contractor with features like filing local,
state, and federal income taxes with a 100
accuracy.
Wave is another best accounting software for
small businesses with an eccentric range of free
accounting services. Its the most cheapest
payroll services out there. Wave have two free
service plans Accounting Software at no setup
fees, hidden charges or monthly fee with features
like unlimited bank and credit card connections,
income and expense tracking, guest collaborators
and run multiple businesses in one account. Other
plan is Receipt Scanning at no setup fees, hidden
charges or monthly fee with features like
unlimited receipt scanning with free mobile apps,
capture receipts when youre offline and
automatic recording of as accounting
transactions.
10
Basic for Payroll, HR Tax ADP
ADP offers four full-service payroll plans to
manage services like direct deposit, automatic
payroll tax filing, and W-2 submissions. The
plans include Essential Payroll (For startups and
established companies), Enhanced Payroll (For
basic payroll plus wage garnishment payments, SUI
and labor law posters), Complete Payroll HR
Plus (For Payroll plus employee handbooks,
background checks and our HR Help Desk) and HR
Pro (Payroll plus enriched HR support and
benefits for business and employees).
With 700,000 clients around the globe, ADP is
another best payroll software for small
businesses. ADP is a professional employer
organization (PEO) which is an HR company that
help businesses manage their HR, so they can
focus on operations.
The pricing for all these plans is not listed on
their websiteyou have to fill a form directly to
get a quote. ADP is a suitable option for small
and midsize businesses instead of large
enterprises.
11
And the best part It offers a massive 160
reports with its payroll and HR packages. Of
course, these reports are included in the two
priciest plans. Moreover, custom analytics and
reports are only available in the most expensive
plan. Just like ADP, it doesnt have pricing
available online, so its a good guess that
Paychex is more costly than other payroll
softwares. Which is why it is most suitable for
midsize and large businesses.
Best Reporting Paychex Flex
Paychex Flex is a cloud-based payroll and HR
software for small businesses to help them with
Payroll and outsource HR. The best features of
this payroll software includes robust reporting,
automatic payroll tax filing, hefty HR help,
dedicated experts, and employee financial
wellness program that also included in the
cheapest plan as well.
12
More Payroll Software Solutions for Small
Businesses
We have already listed our top five picks above,
but here are few more options to help you decide
what suits you best based on your needs. The
payroll software industry is a crowded one, and
after reviewing many other providers, we have
found five more small-business payroll solutions
worth looking into.
2
1
3
4
5
Square Payroll
Patriot Payroll
Wagepoint
OnPay
Heartland Payroll
13
Square Payroll
With their bare-bonus plan, you can easily pay
contractors or freelancers for only 5 per
contractor per month, without any monthly fee.
The Square payroll service is simple and
affordable, and you can purchase it as a
stand-alone service that works with Squares POS
solutions. Your staff can clock in and log out
using the Square terminals or the mobile app, and
POS data is sync with your timecards and point of
sale. The benefits include
Square Payroll is a package product for almost
every type of business with contractor payrolls
plan starting at 34 per month. Square offers
fair pricing, automated tax filing, employee
benefits, insurances, employer resources and many
time saving tools.
  • Easy payment to employees and contractors
  • Employee health and insurance benefits
  • Online accounts for employees
  • Online hours tracking of employees
  • Mobile app for online payment and tracking
  • 24/7 customer support
  • No additional cost to run payroll multiple times
  • Easy payroll tax and withholding tax filing

14
Patriot Payroll
Patriot payroll is another provider for small
businesses that is fast, simple, and affordable.
They offer a 30 days few trial and with a monthly
base price of just 10 plus 4 per employee, it
offers the cheapest self-service payroll
provider. They have a basic payroll plan (Base
Price 10.00 4 / month per employee) and full
service payroll plan (Base Price 30.00 4 /
month per employee) with add one such as time and
attendance and HR software at 4 per month for HR
and 5 per month for time and attendance.
  • Free payroll setup, employee portal and direct
    deposit
  • Unlimited and flexible payrolls
  • Pay overtime, sick-time, and more
  • Accurate payroll and tax calculations
  • Filing of W-2s, W-3s, State and Federal taxes
  • Tracking reported tips
  • Time-off accruals
  • Multiple pay rates
  • Easy to customize
  • Free workers comp integration

15
Wagepoint
  • Direct Deposit
  • Payroll Calculations
  • Federal, State Local Taxes
  • 1099s, W2s W3s
  • Wage Detail Reports
  • New Hire Reporting
  • Additional Deductions
  • Contractor Payments
  • Additional Incomes
  • Online Pay Stubs

Wagepoint is easy and user-friendly online
payroll software to help pay your employees and
contractors while staying compliant with the
federal, state and local payroll guidelines. The
base price is just 20 a month plus just 2 per
employee. When signing up, just add your payroll
information, invite your employees to access
their paystubs, process hourly salaried payroll
and let the payroll run with their our
set-it-and-forget-it feature. Its that simple
without any setup fees, year-end fees and
contracts!
16
OnPay
  • All tax filings and payments
  • W-2 and 1099 workers
  • Direct deposit
  • Unemployment insurance withholding
  • Garnishments
  • Multiple pay rates and schedules
  • Accounting and time-tracking integrations
  • Multi-state payroll
  • Pull paystubs, employment docs, and tax forms
  • Quality customer support
  • Essential HR Tools
  • PTO management
  • Organized ORG Charts
  • Integrated 401(k) retirement plans
  • Integrated workers comp

OnPay offers one fee for almost everything and
that is base fee of 36 /month plus 4 /month per
person covering all the basic payroll services.
They also provide customized payroll services to
specific industries such as restaurants, farms
and agriculture, nonprofits, churches and clergy,
to name a fewat no extra cost. There is no
hidden costs, and theres no upgrade require ever!
17
Heartland Payroll
  • Payroll HR
  • Time Attendance
  • Integrated Solutions
  • Payroll Tax Management
  • Pre-Employment Solutions
  • ACA Reporting
  • Benefits Administration
  • Business Lending
  • Point of Sale
  • Dedicated Customer Representative

Heartland Payroll also offers a variety of
payroll features to small businesses. From clock
in and log out to human resources to tax
reporting, their integrated online services makes
it a great payroll software for businesses that
want payroll, accounting and POS support. The
pricing is not listed on their website, but based
upon online reviews, the service is considered
expensive by most small businesses.
18
How to Choose the Best Payroll Service for Your
Small Business?
Now that youre accustomed with the best payroll
software for small businesses in 2019, its time
to choose which will be most suited to your
payroll needs. While having all the
above-mentioned options readily available,
deciding on the best payroll software for your
small business can be confusing.
Every payroll software has its own benefits and
drawbacks, but eventually, it up to you to decide
about what type is most suited based on your
needs, costs and functionality.
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