Studies have found that 24% of small businesses spend more than 120 hours a year dealing with employee federal tax issues. No business, small or large, wants to deal with such a level of risk or wasted hours.
The good news is, the development of payroll system software allows business owners to handle their payroll within minutes without leaving themselves open to tax issues.
It’s important to remember that there is a wide variety of payroll software to choose from. Which option is best for you depends on your unique work style.
We take a look at some of this software below so you can decide what’s best for your business.
Gusto is a payroll platform that’s both robust and easy to use. That’s because it’s actually a combination of payroll services, compliance, and administration features all rolled into one. The final result is a system that’s perfect for small business owners.
Not only is Gusto’s platform intuitive, but it also looks great. Business owners love Gusto because its creators have thought of every detail, including the HR needs of staff members.
OnPay takes all of the guesswork out of paying your employees in a tax-friendly manner. This platform is cloud-based so you can access your information from multiple devices. You can also create your own settings so payment and tax filing is automated.
OnPay’s data is also a major benefit when it comes to analyzing hours, assessing bonuses or promotions, or arranging reimbursements. A major perk of OnPay is that it works with multiple contract types, including 1099 contract workers and W-2 employees.
Xero is another payroll platform that has received a number of awards and is used in over 180 countries. Despite its many noteworthy features, Xero is available as low as $9 a month. It’s important to keep in mind that Xero is intended for small to mid-sized businesses.
Still, Xero comes with a number of tools including bank connections, inventory, invoicing, and expense management. While the platform is on a global scale, its payroll features are currently only available in the U.S. and Australia.
Intuit Payroll has made a major name for itself thanks to its integration with other popular software systems like Turbo Tax and Quickbooks. This powerful system stretches beyond payroll and includes tools for employee management, hiring, and even references on existing labor laws.
In addition to tax calculations, Intuit offers unlimited paychecks making it an ideal option for businesses of any size.
5. Zoho Books
Zoho Books was created as an ideal payroll solution for small and mid-sized businesses. What sets Zoho aside is its in-depth organization features. These features are perfect for keeping track of expenses, providing professional invoices, and sending and receiving online payments.
Zoho Books also has features similar to a project management platform. This allows the user to add tasks and assign them to members from almost any mobile device.
The great news is, you don’t have to use a payroll platform that allows you to create a paystub. You can simply use an existing tool to have one generated for you!
Find the Right Payroll System Software
Whether you are looking to outsource services or just determining which software to invest in for your business, the more research you do the better. There are many payroll system software to choose from and finding the right one is daunting.
We’re here to help.
Visit our software blog to learn more about what’s out there.