Payroll System Comparisons

1. Payroll Software Functionality. In preparing a run, the system will calculate federal, state and local taxes (including Social Security, Medicare, unemployment and disability insurance); print checks or execute direct deposits and export data directly to accounting software or in a format that's compatible for import to an accounting system.
2. Online Payroll Software. Cloud payroll software is available through the internet. This type of software is perfect for managers who desire more flexibility. Online payroll software allows you to check data from other devices on the go and have a 24/7 access. Some payroll software providers also support applications for Apple or Android phones.
3. Having payroll software can make your life easier as a small-business owner. We've rounded up the best payroll software for small business.
4. Payroll systems are often the first software a new business purchases, the most often used piece of software, and one of the most complicated. The payroll process requires minute calculations from time cards and careful attention to the state, local, and federal laws.

And payroll software is designed to do just that, allowing businesses to spend less time on payroll runs to focus on more pressing tasks. There are different ways by which companies can save money from using payroll solutions.

How can I pay my employees with a payroll service?

Payroll service providers typically offer multiple ways for you to pay your employees. The most popular way is through direct deposit using each employee's personal bank account. Companies that pay their employees with a paper check can use payroll software that lets them print checks directly from their own printers. Finally, some payroll service providers offer additional payment options like paycards that act as direct deposit accounts within a card.

Payroll Comparison Charts Excel

• Direct deposit: Online payroll software lets your employees input their personal bank account information so their paycheck can be automatically sent to their account. This saves money by eliminating the need for printing paper checks while still giving employees access to a pay stub online.
• Checks: If you pay your employees with paper checks, look for online payroll software that lets you print your own checks from an in-house printer. This keeps you from having to pay shipping costs.
• Paycards: Paycards are a payment option that acts like direct deposit accounts in card form. The account is FDIC-insured and can be used at ATMs and point-of-sale terminals that accept PIN transactions to withdraw cash and make purchases.

Can I integrate the payroll process with other applications?

It is important to look for an online payroll service that integrates with accounting, HR and timekeeping programs you already use. This will minimize the amount of repetitive work and data entry you will do when running payroll, as well as minimize any human errors that come with manually inputting data in multiple locations.

Payroll System Price

• Accounting integration: Being able to integrate payroll with accounting software saves a lot of time and reduces the chance fors payroll for you, is the most expensive option and will vary based on the number of employees you have.
• Custom: Some providers let you customize a payroll service package if you only need certain services. This could be the cheapest option, especially for startups with a minimal number of employees.