Are you looking for the best payroll software to help you manage your business? If so then you are in the right spot. Since payroll software is abundant on the internet, you most probably are confused as to which one to choose. Hence, to help you out, we will be covering only those payroll solutions that are best suited to your specific needs.
By the end of this article you will be able to:
- Find the best payroll solutions suited to your requirements.
- Understand what exactly is payroll software.
- Know how to choose a payroll tool.
- See our top recommended payroll software.
Without further ado let’s dive straight in!
List of 10 Best Payroll Software
Please go through each of the top features carefully, and match them with your requirements to choose the best one.
1. ADP Now
Automatic Data Processing, or ADP, is among the largest global providers of Payroll and human resources (HR) systems and outsourced services.
According to ADP, which is ranked 239th in the Fortune Global 500 list for 2019, one in every six U.S. employees receives their salary through the company.
It was founded by Henry Taub in Lautenberg in 1949, the USA in the year 1949.
Top Features And Benefits Of ADP Now Payroll Solution:
- You can see a complete history of transactions, messages, invoices, and settlements. Plus you can see contact information, and seek other details for a customer or supplier.
- Within ADP Now, you can quote, invoice, and be paid for jobs, as well as keep track of time, expenses, and project profitability.
- ADP Now payroll software allows you to pay employees and send payroll information to the ATO.
- Tax, pay, and super computations can all be automated.
Major Customers Of ADP Now Payroll Software
They are a long-standing business and have catered to more than 800 thousand small businesses. However, some of the most well-known brands are Sony, Vortex Solar, and Nissan.
Competitors Of ADP Now Payroll Software
The top competitors of ADP Now are Patriot Payroll, Oasis, and Gusto.
Pricing Of ADP Now Payroll Software
They have a 3-month free trial along with 4 pricing plans to choose from which are – “Essential”,” Most Popular”, “Complete”, and” HR Pro”.
Gusto is one of the most popular payroll software in the market. It is a cloud-based software primarily located in the US.
The company was founded in 2011 by Joshua Reeves and Edward Kim in California.
In the previous year, Gusto launched more than 50 new solutions aimed at assisting small companies.
Top Features And Benefits Of Gusto Payroll Solution:
- In 2021 they offered their service through an API to third-party platforms. The new “Gusto Embedded Payroll” product will allow for vertical integration right on your browser.
- Employee onboarding services from Gusto include authorization forms, direct deposit forms, and employee consolidation.
- Provides an employee self-service site with access to pay stubs, direct deposits, and W-2s.
- At no extra charge, for the accounting system and project management integration.
Major Customers Of Gusto Payroll Software
They have satisfied more than 100 thousand customers, notable names include American Canning, Citizen Pilates, finder.com, and Andy’s Auto Sport
Competitors Of Gusto Payroll Software
Their prime competitors are ADP Now, Xero, and Quickbooks
Pricing Of Gusto Payroll Software
They offer a 30-day free trial. The company offers 3 other priced tiers namely “Core”, “Complete”, “Concierge” and “Contractor” to choose from.
QuickBooks offers three full-service payroll options in addition to its high-quality accounting software.
Their parent company is Intuit which develops and markets its products.
It is a US-based company founded in 1983 by 2 individuals in California.
This payroll software is mainly geared toward small and medium-scale businesses and can access it from anywhere with an internet connection.
Top Features And Benefits Of QuickBooks Payroll Solution:
- Its finest feature is its simplicity – Its UI is very simple to use.
- It has built-in payroll tax adherence with the aid of experienced specialists which help you manage federal, state, and municipal payroll taxes, as well as unemployment reports and reimbursements.
- Employer mobile apps make the payroll on-the-go a breeze
- Most PTO regulations are accommodated from the time of accumulation and tracking.
Major Customers Of QuickBooks Payroll Solution:
Many companies use QuickBooks for their payroll software. Some of them include YourPeople, Inc. City of Seattle and The American Red Cross
Competitors Of QuickBooks Payroll Software
Top competitors of Quickbooks payroll software are Oasis, Gusto, ADP Now, and Hourly.
Pricing Of QuickBooks Payroll Software
They have a free trial for 30 days along with 3 paid plans namely “Core”, “Premium” and “Elite”.
Oasis has been a major player in the payroll tool market for many years. It is a one-stop shop for all of your needs.
It is a full-fledged HR solutions company with payroll management being one of its highlights. They have a great smartphone app too.
It is a part of Paychex and has offices across the US.
Top Features And Benefits Of Oasis Payroll Solution:
- Apart from handling payroll it also has compliance assistance, human resources assistance, worker practices liability insurance, workers’ compensation, healthcare, dental, and vision insurance.
- They combine self-service computer tools for great staff administration with customized support to guarantee you assistance.
- Options for timekeeping reduce manual procedures while enhancing data accuracy. Labour expenditure, reporting, and monitoring are all entirely configurable.
- Employee compensation choices may be customized, including bank payment, pay by card, and divider options.
Major Customers Of Oasis Payroll Software
They have many reputed clients from fields like education, financial services, hospitality and restaurants, retail, light manufacturing, etc
Competitors Of Oasis Payroll Software
Some of the biggest competitors are Hourly, Gusto, ADP Now, and Xero
Pricing Of Oasis Payroll Software
They have no free trials. Pricing is only available through a query.
Most HR technology firms offer their payment capabilities or apps, so while looking for the finest payroll solution, keep that in mind.
BambooHR, for example, offers a standalone payroll platform that integrates with its HR software.
It is based in Utah and was founded in 2008 by Ben Peterson and Ryan Sanders.
Top Features And Benefits Of BambooHR Payroll Solution:
- You can eliminate multiple entries, easily add new workers, and monitor employee hours and incentive payouts using the program.
- Time-off monitoring, a staff directory and records, an application tracking tool, performance management, and electronic signatures are all included.
- Aside from customer support, there are many tools available to help you out if you get stuck with your payroll services.
Major Customers Of BambooHR Payroll Software
BambooHr has many reputed clients such as Civtec, CRBR, Lucid, Culture at ProntoForms, and Ansarada.
Competitors Of BambooHR Payroll Software
The biggest competitors of BambooHR are Oasis, ADP Now, and Gusto
Pricing Of BambooHR Payroll Software
Has a 15-day free trial. They provide two membership options, starting with the Essentials plan, which is the cheapest.
Hourly is a software company that helps small business owners with workers’ payroll, compensation insurance, and time tracking.
Its headquarters are in Palo Alto, California, and it was formed in 2018.
The platform has a simple four-step pay run that allows you to enter hourly or yearly salary and the program will handle the rest.
Top Features And Benefits Of Hourly Payroll Solution:
- They provide small and medium-sized enterprises with enterprise-level technological solutions.
- There is extra functionality that assists with staff onboarding and offboarding.
- The hourly wallet is an app that allows employees to receive money before their next payday in case of unanticipated circumstances. The money borrowed is automatically withdrawn from their paycheck.
Major Customers Of Hourly Payroll Software
There are over 20 thousand satisfied customers, some of them are Eco Focus, Innovation Arch, Strat Security, Inspire Fitness, and Co Candor Corp.
Competitors Of Hourly Payroll Software
Top competitors of Hourly are BambooHR, QuickBooks, and Gusto.
Pricing Of Hourly Payroll Software
They have a 90-day free trial along with 2 paid ones – “Gold” and “Platinum”.
Xero is a cloud-based human resources (HR) management software that assists smaller companies as a payroll tool that can help in tax filing, time tracking, and other tasks.
Wages and salaries, time tracking, reimbursement requests, and paid time off may all be synchronized easily with Xero.
It was founded in New Zealand and now has headquarters in Australia.
Top Features And Benefits Of Xero Payroll Solution:
- You can keep track of your expenses and pay your employees on time. Plus you can see a complete view of your payables and working capital as well.
- It facilitates the submission of cost claims by workers.
- Costs are recorded, claims are filed, authorized, and paid, and spending is kept track of – all automatically.
- It’s simpler to implement account feeds and link your financial institution to Xero than it is with other accounting software. Each business day, transactions will be securely deposited.
Major Customers Of Xero Payroll Software
They have customers in over 180 countries. Some of their major customers are Erudite Learning, Cipher Publishing, Flux Water, Gear Lambent, and Illumination.
Competitors Of Xero Payroll Software
Some noteworthy competitors of Xero are Hourly, Workful, and ADP Now.
Pricing Of Xero Payroll Software
Xero does not offer a trial version. They have 3 pricing tiers to choose from namely “Starter”, “Standard” and “Premium”.
Workful is a great payroll software that is built for medium-scale companies and small businesses.
They offer end-to-end Web App development services. Interstate, Self-Service Portal, Instant Deposit, Monitoring, and W-2/1099 Filing are all available through this online payroll system.
Workful excels in assisting from beginning to end through easy-to-use tutorials. They are based in San Francisco USA.
Top Features And Benefits Of Workful Payroll Solution:
- Workful calculates GST and streamlines the process of preparing financial accounts. From Xero, send your BAS to the ATO.
- Hubdoc allows you to automatically import copies of original documents and essential data into Workful, eliminating the need for human data entry.
- You can connect to Paypal, Mastercard, and other payment processors to accept online payment and get paid up to double as fast.
Major Customers Of Workful Payroll Software
Startup Ventures, SMEs, Consultants, and Corporations are all typical customers. Some of the more popular brands are “Stanfresh”, “Keytofan” and “Viafan”.
Competitors Of Workful Payroll Software
The biggest competitors of Workful are SurePayroll, Xero, and QuickBooks.
Pricing Of Workful Payroll Software
They have a 30-day free trial, along with just one monthly subscription model.
9. Patriot Payroll
Patriot Payroll is the most comprehensive payroll solution available for small enterprises with three to ten employees.
It has a simple dashboard where you can monitor the time and attendance of the onboard staff, interact with your team, submit federal and state taxes, handle payroll, and run reports and analytics.
They have been in this business for over 3 decades.
Top Features And Benefits of Patriot Payroll Payroll Solution:
- Patriot Payroll may be used as an online filing system. You can securely maintain and trade paperwork, agreements, taxes, and reimbursements from anywhere.
- One can use it for accurate accounting reports and can help you keep track of your finances. You may even work with your adviser in real time.
- There is an inventory tool that allows you to keep track of what you have on hand. Fill in the blanks on invoices and orders with the things you buy and sell.
Major Customers Of Patriot Payroll Software
Patriot Payroll has provided its services to many well-known clients in the fields of healthcare education and entertainment.
Some of the names include Cleveland Clinic, Massachusetts General Hospital, and Yale University.
Competitors Of Patriot Payroll Software
The top competitors of Patriot Payroll are Hourly, Oasis and BambooHR.
Pricing Of Patriot Payroll Software
They have a 30-day trial without any restricted capabilities. Other than this they have 2 plans to choose from which are “Basic Payroll” and “Full-Service Payroll”.
SurePayroll provides extremely capable payroll processing as well as excellent new user assistance. It’s a lot better now, thanks to improvements in payroll flexibility and site design. Scott Wald founded the company in Illinois in 2000.
It not only covers the basics of creating employee records, but also assists you in defining deductions and payments, processing payroll runs, and submitting payroll taxes automatically.
Top Features And Benefits Of SurePayroll Payroll Solution:
- With up-to-date exchange rates and quick currency conversions, you may pay and get paid in over 160 currencies.
- Purchase order software allows you to create and manage purchase orders online. You can keep track of orders and deliveries at each stage of the process,
- Track metrics, evaluate the financial health and see potential cash flow. You may subscribe to Analytics Plus for more features.
Major Customers Of SurePayroll Software
Surepayroll has satisfied many clients over the years. Some of the noteworthy brands include Nongshim, Ralph Lauren, Tiffany & Co, and Naver.
Competitors Of SurePayroll Software
The biggest competitors of SurePayroll are Hourly, Workful, and ADP Now.
Pricing Of SurePayroll Software
They offer a 30-day trial version. There are no set plans, hence the pricing depends on the number of employees you need to manage. The more the number of employees, the more the cost.
What Is Payroll?
Payroll is the act of paying a company’s employees, which involves keeping track of hours worked, calculating compensation, and disbursing funds to employees by direct deposit or cheque.
Financial operations are required to be recorded in the payroll. Income tax, incentives, overtime pay, sick days, and paid holidays.
The sum of Medicare, Welfare Benefits, and layoff taxes that must be paid to the government should be put aside and recorded by businesses.
Payroll software is used by many businesses to handle their payroll.
Some sort of API is used by the employee to submit their hours, and their compensation is processed and transferred into their bank accounts.
Frequently Asked Questions
What Is A Payroll Software, Exactly?
Payroll software is a program that determines how much an employee receives depending on the number of hours they work and the amounts they are paid.
It also sets aside the necessary funds for payroll taxes, which include both fed, provincial, and income taxes.
Payroll processing by hand offers a lot of potential for error, which can result in costly IRS fines.
This is why many companies choose to outsource payroll, although doing so may be costly.
Payroll software is a middle-ground option that is both inexpensive and effective in helping businesses stay compliant and avoid penalties and litigation.
Suggested Read: Best Online Accounting Software for Small Businesses
Why Should You Use Payroll Software For Your Business?
Manual payroll may be dangerous.
You should use payroll software which will help you to streamline processes and give you peace of mind while also saving you time.
Collecting the necessary papers from employees, ensuring you retain the right records, withholding deductions and taxes, and ensuring you compute everything accurately may be time-consuming and error-prone.
Utilizing payroll software for your business will help you solve these problems.
Who Can Use Payroll Software?
Payroll software should be considered by every company that employs people, whether full-time, part-time or on a contract basis.
After all, you have to submit payroll taxes, so make it simpler for yourself by using payroll software.
Payroll automation will save you time, eliminate human mistakes, and ensure that everyone is paid correctly and on time.
Based on the scale of your company, you might want to hire someone to manage your payroll software.
What Should You Look For When Purchasing Payroll Software?
These are some pointers to keep in mind for choosing the best payroll software for your business
- Cost is one of the most essential factors to consider in any organization, which is why you should carefully look into it. Also, consider using free trial versions if you are unsure.
- You should consider features like direct deposit and reports while making your selections.
- Look for payroll software that provides useful support for business owners who might have issues setting up and administering the software.
- Search online for reviews and ratings from people using the payroll software first-hand.
- Try to choose a payroll software with integrations with a variety of other software for ease of migration to different software in the future if needed
- Mobile, web, and cross-platform compatibility is a must if your employees use a variety of devices to access the payroll software.
Our Category-wise Wise Recommendations For The Best Payroll Software
Choosing the best from the best is not an easy task but still, we will try. Below you will find our top recommendations for the best payroll software in each category.
- Gusto – Best Software for Payroll and accounting systems for Small Businesses
- Quickbooks – Best Payroll & Accounting System For Medium-Sized Businesses
- ADP Now – Best Payroll Tool With TimeSheets & Resource Planning Software
- Gusto – Best Payroll Solution For Small Businesses
- Quickbooks – Best Payroll Tool For Every Business
- ADP Now – Best Automated Payroll Software
- Gusto & Xero – Best Cloud-Based Payroll Solution
- ADP Now(3months) – Best Free Payroll Solution
- ADP Now & Quickbooks – Best Overall Payroll Solution
When you run a business, you must look after your employees and provide them with timely and correct payments and other perks to maximize production.
The finest payroll solutions will simplify the process of paying wages and benefits.
After going through our list of the top 10 best payroll tools, we are sure you have found the one which fits your business the best.
About the Author: 99businessideas.com led by Rupak Chakrabarty is committed to helping beginners, entrepreneurs, and small business owners in starting, managing, and growing their businesses.