Payroll Solutions for Small Business Compared (For Every Budget)

Payroll Solutions for Small Business payments

worldexecutivesdigest.comPayroll Solutions for Small Business Compared (For Every Budget) | Are you looking through the best payroll solutions for small business hoping to find the best one for your budget?

Look no further. Here’s which to consider.

Did you know that to be a healthy small business, your firm ought to spend between 15% and 30% of your gross revenge on payroll?

For the small firms that are part of the $69 billion spent on payroll services, this is a mission-critical function.

However, as a small business, you don’t have the time or workforce to focus on payroll as effectively as you’d like. 

Luckily, there are several payroll solutions for small business owners that make this function more efficient.

Here’s a deep dive into three major payroll solutions your small business can adopt.

#1 Gusto: All-In-One Small Business Payroll Automation

Gusto, formerly known as ZenPayroll, is an all-in-one payroll software geared towards small businesses looking for high automation. While the software is especially suited for small firms in the hospitality sector, every small business can use its intuitive automation to make payroll user-friendly.

One of the most critical and valued features for Gusto is the automated employee onboarding. This is a huge benefit since small businesses typically don’t have a lot of time to handle personnel and payroll related issues as they would desire.

Every new employee has the ability to onboard themselves once you give permission. Once you enter the new employee’s basic information, the software will email the employee to get them started. However, it’s worthwhile to note that the basic Core package doesn’t come with this feature.

Gusto also files all the remittances and tax forms for your small business. These include Form W-2, Form 940, and Form 941. If you hire any contract employees, Gusto can process their 1099 forms as well.

Additionally, Gusto has human resource (HR) services but only at the highest-paid plan level. The AutoPilot payroll feature is useful if you have many employees to pay in one go. If you use other critical applications, Gusto plays well with them through a high degree of integration on top of being a check stub creator.

There are three paid Gusto plans. The Core plan is suitable for very small firms at $39 every month plus a $6 fee for every employee. Complete is best for small businesses and comes at $39 monthly plus $12 per employee. Concierge is the highest-paid Gusto plan at $149 monthly plus $12 for each employee.

#2 Quickbooks Payroll: Payroll With the Best Interface

QuickBooks Payroll is a feature-rich and powerful solution tailored for small businesses that have up to 50 workers. However, due to the fees in play when using the solution, you will derive the most value if your small business has 15 employees or less.

While you don’t need QuickBooks Online Accounting to use QuickBooks Payroll, it’s extremely helpful. With that said, the solution offers full-service payroll across all its paid plans.

With QuickBooks Payroll, you have unlimited payroll runs, so you don’t have to worry about extra charges for additional runs. You can also use the solution to process and file payroll tax forms (including tax deposits) for all states.

QuickBooks Payroll also gives your employees a portal where they can access their tax forms and pay stubs. The portal also helps staff track their sick time and vacation.

If you plan to use the HR features in QuickBooks Payroll, you’ll need to sign up for the two highest-paid plans, i.e., Premium, and Elite. These same plans also offer time tracking capability.

QuickBooks Payroll comes with three price points to offer flexibility to small businesses. The Core plan features $22.50 per month plus a $4 charge for each employee. The Premium plan costs $37.50 per month and an additional $8 per employee. At the highest level, the Elite plan will cost you $62.50 each month and an extra $10 for each worker.

Note that these prices reflect a 50% discount you’ll get for the first three months before each plan’s pricing jumps to full charge per month.

#3 OnPay: Budget Conscious Payroll With Simple Pricing

OnPay is a payroll solution crafted with small businesses in mind but can scale up to suit mid-sized firms. Specifically, small businesses with ten or 50 employees will find OnPay to be the most useful due to its pricing strategy.

OnPay gives you two options to onboard new employees. You can either do it yourself or have the new employee do it as long as they have a valid email. Newly onboarded workers can access their accounts on OnPay to check for historical and/or current pay stubs.

Furthermore, new employees can alter their tax data on OnPay, download tax documents at year-end, and enroll in a benefits program. You can also get a range of critical HR tools on OnPay via a customizable HR dashboard.

To enhance its usability, OnPay integrates with many third-party time tracking, payroll, and HR applications, among others. As long as it can integrate, OnPay will offer total sync capability.

Since OnPay is designed for small businesses, it’s extremely user friendly. Not many small firms have technical chops for more complex payroll solutions, and that’s a vital need OnPay meets.

The plans you can sign up for and administer on OnPay are available across all 50 states. In addition, the solution empowers you to add supplemental programs like life, disability, and vision insurance.

OnPay also enables you to conduct unlimited payroll runs with free direct deposits. If you prefer paying your team using paper checks or debit cards, you can do that on OnPay.

The most standout feature of OnPay is its highly transparent pricing. The payroll solution has only one paid plan going for $36 per month plus $4 for each employee.

Payroll Solutions for Small Business Owners Make for Smoother Operations

Your staff is a fundamental part of your small business, and, as such, ensuring you handle payroll well directly impacts your productivity. While there are many payroll solutions for small business owners today, not every option works for you. Look for a payroll solution tailored to your budget level and type of business to get the most out of your investment in it.

Running a small business isn’t easy, and effective payroll is only one element necessary for success. To help you grow your firm, you need valuable insights and tips. Check out more of our articles to learn how to make your firm more successful in the long run.