Eliminating Traditional Small Business Software for Payroll
As a business starts growing, processing the payroll may become very complex in the long run. Companies must ditch their old ways of using basic software and processing payroll manually if they want to save both their time and resources. Managing payroll has become easier these days as the demands for advanced payroll processing software have increased dramatically.
Fortunately, many developers recognised this need and made powerful payroll processing software that could grow along with the companies they’re serving. Evaluating and choosing the right small business software for payroll entail patience and great understanding of your company needs. There is a wide array of payroll solutions available that could serve different numbers of people, depending of how complex a system can be.
Below are some of the best small business software for your payroll processing needs.
The Top 5 Small Business Software for Your Payroll Needs
QuickBooks Payroll for Accountants
Small business owners, as well as their accountants, have already recognised the robust features of QuickBooks since its inception. It’s considered the granddaddy of modern accounting software and has a multitude of products under its wings.
Its accounting software products include the Online Essentials with Payroll and Online Plus with Payroll. The Online Essentials package is cheaper and includes payroll features such as automatic calculations of taxes, unlimited monthly payrolls, and the creation and printing of paychecks.
QuickBooks’ payroll features is ideal if the company is already using QuickBooks suite as it’s already integrated in its full system and won’t work with others.
Xero has a seamless payroll processing which works as one with Xero accounting. This takes away manual data entry as payroll information is automatically updated in the general ledger. Xero also has the ability to perform automatic tax calculations so you don’t have to. The small business software for payroll calculates both federal and state payroll taxes. It also allows employees to be paid in the form of instant paychecks and direct deposit.
Xero has a great API integration to let you connect your payroll in Xero with other major business systems. As of now, the payroll features of Xero is only available in selected areas in the United States.
Payroll Mate is a small business software for payroll processing that’s by far the cheapest application available. Like other payroll systems, it also calculates federal and state payroll tax, Social Security, and Medicare tax rates. However, the software is not advisable for large companies as it doesn’t come with a time-tracking tool.
When it comes to catering to the specific needs of small businesses through the web, Ascentis Payroll maybe the best choice for HR management. The software is highly secured in the cloud with the AES 256-bit encryption technology and intrusion detection systems and firewalls against cyber attacks.
Since Ascentis Payroll works well with Ascentis HR, you need to buy their services first to take advantage of the payroll feature.
Centerpoint Payroll automates your payroll processes effectively. With its efficient features for direct deposit, online access to payroll, paychecks printing, and health benefits, the software has been considered as one of the top contenders in the accounting software market.
The small business software can also handle third-party add-ons if you want additional tools for your payroll process. However, it can’t hold high volume payrolls, so it’s only useful for smaller companies.
The Verdict for the Right Payroll Small Business Software
There are plenty of payroll solutions that could handle different types of companies. This is only a guide to narrow down your choices. In the end, as the business owner or the company accountant, you’re only the person who could decide what’s best for your budget and which program meets the needs of the company. Remember to stay away from the painful old process and learn to make your payroll more efficient and faster. After all, the world has turned into loving everything instant.