Payroll is one of the most important services you provide next to employee benefits. Not only does it involve paying your employees for their hard work and dedication, but it also comes with a number of legal restrictions and requirements that need to be met in order to comply with state and federal regulations.
Needless to say, navigating through this complex system can be daunting – especially if you’re just starting out as a small business owner. To help simplify matters, we’ve put together this comprehensive guide outlining the best payroll solution available for small businesses today. This guide will give you all the information you need so that you can make an informed decision about which option is right for your organization.
What is Payroll Software?
Payroll software is a tool not only helps streamline your payroll processing, but also seamlessly integrates with your accounting and time and attendance systems to save you time and reduce the risk of errors. Most payroll software also tracks tax liabilities and handles reporting paperwork so you’ll have one less thing to worry about. And with employee self-service portals or mobile apps, your team can easily access their pay stubs and other important documents. If you’re looking for a hassle-free way to manage your payroll and ensure your employees get paid accurately and on time, payroll software is a great option.
How Much Does Payroll Software Cost?
Some providers offer a free trial so you can test out the software before committing. After the trial, when it comes to pricing, most providers charge a monthly or per-payroll fee.
Monthly plans typically have a base fee ranging from $50 to $150 per month and an additional fee per employee ranging from $5 to $20, while per-payroll plans may charge for each run. Keep in mind that some providers also charge extra for year-end tax services and setting up your account. Choose the option that works best for your business needs and budget.
How Do You Choose The Best Payroll Software?
Identify your needs
Choosing an online payroll service for your small business requires strategic thinking. Don’t just look at the cost, think about how often you need to process payroll and what features you can’t live without. Figure out what priorities matter to you the most and create a list of must-haves before diving into your search. The right software can make managing payroll a breeze!
Research your options
When it comes to finding the perfect payroll software provider, compiling a list of potential vendors can help. Once you have your list, it’s time to get down to the nitty-gritty and review what each one has to offer. Comparing each system against your desired functions will help you eliminate options that just don’t fit.
Once you’ve narrowed it down to a couple of contenders, scheduling demos can be a game-changer. Not only can you witness the software in action, but you can also ask the sales team any questions that come to mind. And let’s not forget about ease of use. A good software platform should have a user-friendly interface that makes running payroll a breeze because who has time to fuss with complicated software?
Choose the best fit for your business
After evaluating the advantages and disadvantages of each payroll provider, it’s time to make your ultimate selection. Start the sign-up process and see if you can squeeze out some additional savings. It never hurts to inquire about any discounts that may be offered. So, once you’ve found the software that perfectly caters to your business needs, it’s time to set sail and proceed with the setup phase.
Our #1 Payroll Pick For Small Businesses
After evaluating several different payroll software platforms and companies, our experts have picked ADP as the winner in terms of savings, efficiency and ease.
ADP offers various payroll and tax solutions including:
- Allowing you to process payroll in minutes — or set it to run automatically
- They calculate your payroll taxes, deduct and pay them for you
- Thorough reporting quarterly and/or annually done for you
- W-2 and 1099 forms will be automatically created and sent to your employees and contractors
- Integration between time tracking with your payroll
- IRS inquiries handled, so you don’t deal with the headaches
- They also manage state unemployment insurance (SUI), including claims
Set Up Payroll In 3 Easy Steps
It’s never been easier to join the nearly 800,000 small business clients that count on ADP. You can be on your way to getting started in just 3 steps:
- Start the guided setup process
- Consult an expert to help you set up payroll, benefits, and more
- You’re ready to run payroll! – Once you’re up and running, if you have questions contact the 24/7 payroll support
Ultimately, the best decision for any business owner when choosing a payroll service is to select one that provides the greatest amount of convenience at a cost that’s manageable for the company size.
ADP offers secure and simplified solutions for managing payroll in an effort to make it easier for small businesses to focus on their core strengths. With its streamlined processes, integrated offerings, and personalized support from experts, small businesses can reap all the rewards of having an efficient payroll system while also avoiding any legal hiccups. Plus, its unmatched scalability makes it ideal for businesses of all sizes.
To find out more about how ADP can help you achieve smoother payroll management, click here to learn more. With this guide as your reference, there’s no doubt you’ll have no problem making the right choice when it comes to selecting the platform that meets your company’s needs.