4 Excellent Payroll SaaS Choices for Small Businesses
Before payroll software as a service (SaaS), payroll management demanded a solid understanding of all your obligations to employees and to tax agencies.
Many small employers outsourced the job and many of those who did it in-house used payroll software, but often the operation of these applications was needlessly complex.
With the move to the Cloud, managing payroll became simpler and streamlined. These services often handle taxes automatically and can be a significant boon to a small business operator’s productivity. There are many providers of this software service, however, so it’s helpful to know where to start. Here are four excellent payroll options available for small businesses.
1. Wave Payroll
Wave payroll is built for small businesses and it offers direct deposit and check printing. An iOS app is available that aims at allowing complete payroll management from a mobile device. Wave Payroll handles W-2 and W-3 forms simply and offers powerful reporting for wages and taxes.
Employers can enable employee self service. Various pay schedule options are available, including frequency of pay and salaried or hourly pay rates. Vacation tracking is simple and users can manage the payrolls of multiple businesses, if necessary. The fee for Wave Payroll is $5/month base plus $4/employee/month.
SurePayroll offers simple setup. Withholding is automatic, and the service offers automatic calculation, filing, and payment of taxes. A mobile app makes payroll management accessible anywhere and single-click functionality makes payroll processing a cinch.
Stay up to date with federal and state compliance with automatic notifications; they include all necessary forms and information updates. The SaaS integrates easily with SurePayroll’s accounting software and with many popular time clock systems. The fee to use SurePayroll is $45/month plus $1.85/employee/month.
Paycom focuses on “paying your payroll taxes and your employees on time and accurately.” After you enter data, any relevant alterations kick into effect system-wide. So when data for employees and time changes, the system updates automatically. There’s a robust expense management system, as well as sophisticated management of garnishment. And you get automatic debiting and depositing of taxes too.
Simple Payroll is a no-frills service that’s oriented toward small business. All features are included in the basic service. It offers check printing and direct deposit, as well as federal and state e-filing and payment, including W-2 forms. Cancel checks and correct erroneous payments simply. Create your own earning types and deductions. View account balance, history, and customized reports. The fee for Simple Payroll is $5 employee/payroll plus $3/check.
Any of these payroll SaaS options will meet the needs of a small business. Which you choose may depend on whether you’d integrate the same provider’s accounting SaaS or you’d like to use an external application. It also depends on the complexity of options you require for pay schedules and reporting. The availability of mobile apps may be another determining factor. Otherwise, for basic use, any of these five services will fit the bill.