Best 5 Payroll Software for Small Business in October 2023

best payroll solutions for small businesses

Square Payroll earned a 4.1/5 overall star rating, bolstered by its extensive payroll feature set and optional add-ons, including employee schedule management and access to HR professionals. Small businesses can handle pretty much any basic payroll function using QuickBooks Online Payroll. Plus, they can integrate with other solutions within the QuickBooks business software suite and third-party services. Gusto boasts strong benefits administration features and assists with adding worker’s compensation and HSA plans to your payroll. Gusto’s pricing includes three different pricing plans for paying employees and a free 30-day trial. The Simple, Plus, and Premium plans run from $40 a month + $6 per employee (Simple) to $80 a month + $12 per employee (Plus).

Business Services

best payroll solutions for small businesses

It has a mobile-first design, and both its apps and its browser-based version are intuitive to use and attractive. Its rating is lower than some competitors because it lacks the flexibility and access to supporting data competitors offer, but that may not be an issue for some very small businesses. We found that Gusto offers all the features that most small businesses need at a very competitive price. Users find it very easy to use and navigate, and the software is widely used in different industries. While it has offer letters and automated onboarding workflows, it doesn’t post your open jobs like Gusto, Rippling, Paychex Flex, and ADP Run do. Time tracking and scheduling tools are also available only through its integration with When I Work, Deputy, and QuickBooks Time.

Intuit QuickBooks Payroll

States like California, New York, Illinois, and Arizona exhibit significant variability in their state break regulations, impacting how small businesses must manage paid and unpaid breaks for employees. TriNet has competitors that are layered across multiple types of services. For example, other PEOs are competitors, but so are businesses that outsource payroll and benefits or that provide an all-in-one software solution for those functions. Some of TriNet’s biggest competitors are Justworks, ADP, Gusto, Zenefits and Paychex. Of those competitors, only Gusto and Zenefits do not offer a full PEO service.

Types Of Payroll Software

If they do come across any questions or issues, however, the chat feature is there to help. Oyster enables hiring anywhere in the world—with reliable, compliant payroll, and great local benefits and perks. Paychex Flex can be your HR everything and help you with recruitment to retirement efforts – and several other functions in between. Always be plugged into the latest payroll information, employment law changes, and best practice information. This compliance tool can help keep you informed while you mitigate risk. Find help articles, video tutorials, and connect with other businesses in our online community.

best payroll solutions for small businesses

Paychex Flex®: Our Payroll Processing Software

  • With its platform’s Community Edition, you get all the basic tools you need to manage payroll, staff attendance, PTO, schedules, and employee information.
  • California has specific regulations in place regarding breaks for employees.
  • TriNet aims to make taxes a breeze as it calculates, withholds and files federal, state and local payroll taxes for you.
  • Lisa has over 20 years of corporate human resources, legal operations and start-up experience, including executive roles in cybersecurity and building services industries.
  • Wave Payroll’s $20 self-service plan has all the basics, including self-service employee portals, contractor payments, and direct deposit.

This is unlike Homebase, which has time tracking and staff scheduling as its core functionalities. For the list of the best payroll software for small businesses, we formulated a special rubric that will evaluate the features that small businesses need. In our opinion, the best free payroll software is Payroll4Free, which lets you run payroll for up to 25 employees. And if you’re not sold on software, you can always try a free payroll software alternative, such as free payroll calculators and payroll templates.

Check out these products

Compare and choose the package that fits your unique needs – because payroll isn’t one size fits all. This allows you, as the owner of the business, to withdraw money from your business for personal use. Get expert service from our highly-trained specialists that is only a call, click, or swipe away. We will help you transfer any existing payroll information to QuickBooks. Attract skilled applicants, retain your best employees, and help them grow with you. These portions are reviewed by internal Motley Fool editors to ensure accuracy and validity.

For instance, multi-state payroll tax filing costs an extra $9.99 a month. And SurePayroll lacks the expansive employee benefits, scalable plans, and HR perks you’ll get with Gusto or Paychex—another reason it works best for the smallest of small businesses. To determine which payroll services are best for small businesses, CNBC Select analyzed over a dozen software companies and looked at their pricing, features, user reviews and ratings. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money.

From there, I could either send the employee an invite to input their own information (which I could then review for accuracy and approve) or manually enter the data myself. On the “payroll” page, I viewed a spreadsheet of payments earned by employees. From there, I clicked “next” and was taken to a page that flagged all issues that may hinder a successful payroll run.

  • Since TriNet is a cloud-based solution, you don’t have to download or install it.
  • Lauren (Hansen) Holznienkemper is a staff writer and deputy editor for the small business vertical at Forbes Advisor, specializing in reviewing and testing HR, payroll and recruiting solutions for small businesses.
  • Paychex Flex is made specifically for small businesses that need a quick and simple payroll system.
  • Once you complete the setup, you generally can’t return to the dedicated setup tools, so it’s essential to get it right the first time.

You have to pay people 100% accurately, with the underlying math for taxes, benefits, and other types of withholding, correct to the penny. Finally, you have to submit payroll taxes and filings to the IRS and other tax agencies on time and for the correct amounts—or face penalties. Rippling’s feature-rich HR payroll platform may be too much for small businesses that only need basic pay processing solutions.

Leave a Reply

Your email address will not be published. Required fields are marked *