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Which Payroll Software Is Best for My Small Business?

 July 17, 2021

By  BC Editorial Team

“Different strokes for different folks”. This saying may apply on an individual level, but it’s applicable when it comes to the business world as well! Payroll requirements vary widely by business, and a number of different variables (such as line of work, location, and size) play a factor in determining which software is best for a specific business. If you’re currently on the market for payroll solutions (or thinking about switching from your current service provider), we recommend scrolling through the list below to determine which type of payroll software would provide the most benefits for your business!

UZIO

Suitable for all but the smallest of companies, UZIO is an all-in-one HR & payroll platform that can easily scale to fit the needs of your particular business. Beyond managing your payroll, UZIO also offers T&A tracking, benefits management, a complete HRIS suite, and even legal services to its customers. Operating on a “pay-only-for-what-you-need” design, prices vary widely depending on the services you require, but basic service can cost as little as $30/month (plus $4.50/employee). Thanks to its superior onboarding solutions and effective benefits management system, UZIO is the perfect choice for any business presently (or soon to be) expanding its current operations.

 QuickBooks 

Working for yourself is an appealing prospect for many, but the idea of being held responsible for your own business’s taxes may dissuade potential self-employers. Fortunately, Intuit (the same company behind TurboTax) has come up with a solution: QuickBooks Self-Employed! This simplistic software doesn’t offer estimate templates, project tracking, or the ability to scale as you’ll find on more advanced payroll systems, but its transaction tracking, basic reporting, and TurboTax integration features should be adequate for most self-employed businesses. LLCs with one or two independent contractors may be able to manage their finances effectively using this software, but companies with any plans for expansion should consider alternative software instead.

Payroll4Free

For companies with less than 25 employees currently on their payroll, Payroll4Free offers the best value-for-money service on the market. Its completely free service allows you to manage payroll for W-2 employers and 1099 contractors, calculate taxes (it also provides you with the appropriate forms), integrate with outside software, and even includes basic HR functions! Unfortunately, the completely free version only offers direct deposit to your own bank account (not the employee’s), but they do offer this service for only $15 per month. If you’d like Payroll4Free to handle managing payroll taxes on your behalf, they will happily do so for an additional $15 per month.

 Gusto

Gusto provides excellent payroll management services with prices that scale to fit the needs of your particular business. Beyond a contractor-only plan (which is $6/contractor), they also offer three different tiered plans: “Core”, “Complete”, and “Concierge”. “Core” provides you with all the basics such as payroll management, employee self-service, PTO tracking, live customer support, and health benefits/workers’ compensation administration. “Complete” includes the features listed above but adds customizable administrative permissions, onboarding, an employee directory, and a few other features to the mix. Their “Concierge” plan (which is truly only fit for large businesses) gives you access to the HR resource center, certified HR specialists, and even provides you with your own team of dedicated payroll experts, as well as including the features listed above.

 OnPay 

If you’re tired of dealing with the overcomplicated process of budgeting your payroll expenses, then you’ll be happy to know that OnPay provides only a single plan with straightforward pricing. Costing a base price of $36/month plus a $4 fee per worker, OnPay can manage your entire payroll (which can include both contractors and employees), file your taxes, manage payroll distribution, integrate with external software, and even generate payroll reports! Payroll will not run automatically so you’ll need to manually compensate workers, but this can easily be done by accessing the service on either a desktop or mobile device.

 

Summary

Specific requirements vary widely by business, so it should come as no surprise that there’s no singular “best payroll software”. However, with future plans and the current state of your business in mind, we know you’ll be able to find the perfect payroll platform from one of the services listed above!

BC Editorial Team


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