20 Best Payroll Software for Payroll Service Providers and Accountants in 2024

Payroll software is a system that automates and streamlines the process of paying a company’s employees. It may sound straightforward, but the payroll process includes a lot of tasks such as calculating deductions and withholdings, producing payslips and tax forms (and other reports), processing or depositing payment directly to an employee’s bank account, voiding payments if need be, and even printing checks.

With that said, digitizing payroll is of utmost importance since many employees today are working from home due to the COVID-19 outbreak. In doing so, physical distance won’t be an impediment to sending payslips, wiring payments, and working on a company’s tax obligations. Payroll software simplifies and automates the aforementioned tasks to shorten cycle times and reduce manual errors.

In this article, we compiled the 20 best payroll platforms on the market. The key features of each and the specific benefits they afford are covered so you can make an informed decision on which software to purchase.

COVID-19 has left many industries reeling from the loss of physical traffic in stores and the migration of operations to the digital plane. As a result, a lot of companies had to close stores in different parts of the world as costs have outweighed the returns. Thankfully, the payroll protection program was introduced to help businesses keep their workforce employed. The government initiative’s coverage is extended businesses that have fewer than 20 employees so everyone gets a fair chance to receive loans.

With the work-from-home scheme applied by a lot of companies globally, operations can resume unimpeded by the pandemic. This brings a concern for organizations that have yet to sufficiently adjust to the new work setup. It’s one thing to send payments to the bank accounts of employees, and it’s certainly another to file all the necessary payroll information to avoid errors. The need for payroll software is highlighted by this scenario.

As expected, just like online businesses, the HR and payroll software market is on the rise. By the end of 2021, its value is projected to reach $9.9 billion, registering a growth of 5.3% from the previous year. Moreover, by 2025, the industry is set to reach $30 billion. This growth is actually faster than that of the US economy in the past five years. More and more organizations have been or will purchase a platform to streamline their cycles.

At this juncture, if you intend to avail of a payroll platform, you might as well choose one that will best serve your operations. After all, the payroll features of some applications come in the form of modules of bigger systems like human capital management software. And there are also some that act as dedicated payroll engines. Don’t fret; we covered this aspect in the list below.

1. Paychex

Paychex is a payroll platform for payroll service providers and accountants that offers a complete suite of tools for the management of HR, including benefits. The business solutions of Paychex enable service providers and accountants to run payroll in a few clicks. They can effortlessly calculate, file, and pay payroll taxes.

Part of the services provided by Paychex is a group of compliance experts that monitor the changing laws and regulations to keep the platform updated at all times. The employee retention tax credit (ERTC) service tool can easily check the eligibility of businesses, which can be an added value that can be offered by payroll service providers.

Paychex

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In addition to the payroll management tools, Paychex includes services for payment processing that include funding options and automated payment processing options. This platform easily integrates with Quickbooks and offers a full range of payment processing software and equipment. It also connects with popular HR, productivity, and financial tools. Pricing for Paychex payroll solutions is available upon request.

What is unique about Paychex?

1. API Library. Paychex makes it easier for companies to hire, manage, pay, and retain employees by ensuring that connections are seamless and automatic. Easily share data and connect with other business tools using APIs.
2. Compliance support. With Paychex, you are assisted by knowledgeable professionals who can help you in federal, state, and local payroll tax management. In addition, they can also assist in unemployment reporting and payments.
3. Employee self-service. When it comes to employee empowerment, Paychex leads by providing access to employee payroll. They can easily connect to the platform to check payment stubs, and W-2s, and chat with HR for their queries.
4. Multiple payment options. Direct deposit, pay cards, and paper checks with check signing and insertion, are just some of the payment options offered to employees. Paychex ensures simple processing through robust tools that automate processes.
5. Promotes efficiency. The integrated payroll solution of Paychex imports payroll data directly into widely used accounting platforms. You can spend less time on data entry and more time on improving business processes.

2. Justworks

Justworks is an HR platform built to simplify business processes and ease the workload on managers and HR officers. It helps eliminate the back-end complexities of running a business, so you can focus on growing your business. Justworks offers payroll automation for employee benefits, salaries, leaves, and anything workforce-related as well as HR tools to manage time off, keep track of employee info, and safely store all your documents.

Justworks facilitates payroll and payments management for your business allowing you to promptly pay all your full-time and part-time employees, contractors, and vendors via direct deposit. It can also take care of payroll documents and filings, like W-2s and 1099s. You can even easily undertake one-off payments – like expense reimbursements, commissions, and bonuses – to one person or whole departments.

What is unique about Justworks?

1. Customize company policies. You can create and customize your company policies regarding vacations and leaves – time off requests, holiday calendars, sick leaves, and many more – which can be managed through a single interface.
2. Employee dashboard. Each of your employees gets their own unique dashboard where they can view their complete profile and their performance. They can enroll in benefits programs, view their payment details, and request for leaves. This system bypasses the hectic routine of emails and approvals because everything is automated.
3. Payroll automation. Set up your payroll once, and never worry about it again. All your salaried employees whether full-time or part-time will get paid automatically every time.
4. Centralized vendor/contractor payments. Justworks facilitates payment of all your US-based contractors and vendors from one place. You just invite them to set up an account to enable you to immediately send your payment and Justworks will file all the tax paperwork, including 1099s, at the end of the year for you and for them.

3. Gusto

Gusto is a powerful platform that combines payroll, benefits administration, HR and compliance functionalities in a single, simplified package. It is designed for small businesses looking to stay on top of their workforce’s core HR needs. The app is used by more than 40,000 companies in the U.S. taking advantage of its solid set of payroll features, well-designed user interface, and automation functionalities capabilities.

The software streamlines and automates the calculation, payment, and submission of a company’s local, state, and federal payroll taxes, ensuring that businesses can pay through direct deposit or check, and comply with year-end forms and taxation to avoid critical errors.

Gusto also offers a partner program for its clients who introduce Gusto payroll and benefits to their customers. As a Gusto partner, you enjoy exclusive deals such as free Gusto payroll subscription, access to HR experts and compliance support.

What is unique about Gusto?

1. No tie-in agreement. You don’t need to sign a long-term contract and are free to suspend your account at any time. A one-month free trial is offered which starts after you run your first payroll.
2. It makes payroll management error-proof. Gusto eliminates critical human errors since you won’t have to enter data in several different apps and websites, and just let the system calculate deductions.
3. It is fully compliant with standards. All Gusto operations are designed to meet HIPAA, ACA, and ERISA standards, meaning that the system can check data automatically, prepare compliance reviews of your benefits, send automated notices, and guarantee employee privacy.
4. It simplifies benefits administration. Gusto can streamline and handle employment tax reporting, payments, workers’ comp insurance, new hire reports and detailed budget plans. It also allows you to easily set up and manage 401(k) plans for employee’s retirement needs.
5. Easy access to information. The app can quickly pull out important information, including employee contact data, I-9s, W-2s, time off balances, and much more, and you need only to log into the system using your credentials.

4. Paycor

Paycor is an integrated Human Capital Management (HCM) platform. It offers comprehensive extensive recruitment, onboarding, HR, and payroll capabilities. These features are easy-to-use and can be incorporated into existing HR data and solutions, designed with personalization and user-friendliness in mind. It also features a native mobile application, Paycor Mobile, where you can perform everything you need to do on mobile as you would on your office desktop.

Paycor has three paid plans: Basic, Essential, and Complete, priced at $99, $149, and $199, respectively, every month. The Basic plan contains barebones payroll and tax filing features, while the Complete one has everything Paycor has to offer—including integrations with 401(k) and dedicated support with a certified HR professional.

All this backed by Paycor’s reputation as a key partner of more than 30,000 small businesses since 2005.

What Is Unique About Paycor?

1. Comprehensive HCM. Paycor is an all-in-one HCM solution. Among its strengths is a self-service applicant tracking system with real-time dashboards, which helps reduce administrative costs and improves process efficiency.
2. Ease of use. Paycor has a simple interface, from where you can access integrated apps, customizable templates, recruitment and onboarding, and real-time analytics.
3. People insights. Speaking of analytics, Paycor deep-dives into people insights and analytics. It uses predictive algorithms centered around your specified HR metrics, such as labor costs and diversity, so you can make data-driven decisions.
4. Payroll and tax compliance. Paycor ensures accurate compensation using its built-in payroll and tax compliance suite. It has a Time Clock feature as well, which provides integrated timekeeping for your employees’ billable hours.

5. Rippling

Rippling is an end-to-end solution that goes beyond payroll operations and also provides solutions for the human resource processes of small and medium-sized businesses. With this platform, users can sync data from other employee management systems to automate data input and ensure that each employee is getting accurate pay as promptly as possible. It even comes with reporting options that allow HR teams to track compensation trends. Moreover, as it is not limited to payroll functionalities, Rippling can be used to onboard new hires as it can be used to quickly set up payroll, health insurance, as well as apps that they need for their tasks. It even comes with task management tools, custom alerts, as well as a built-in unified employee database. In case you feel these tools aren’t enough, the platform has open API capabilities and native integrations with over 500 third-party applications so you can extend its functions as needed.

For pricing, the vendor offers a quote-based plan that starts at $8 per user per month. To get a custom subscription, be sure to get in touch with Rippling’s representatives.

In addition to the abovementioned, Rippling also comes with native mobile applications for Android and iOS devices. This way, users can easily access their payroll and IT operations even when they’re on the go.

What is unique about Rippling?

1. No-fuss payroll and benefits management. Rippling is designed to accelerate and simplify compensation management. With this platform, you can automatically reconcile HR data with the payroll system for accurate calculations and timely distribution. It can also keep tabs on benefits and manage health insurance so you can be sure that no employee gets unpaid or underpaid.
2. Custom employee data reporting. This HR and payroll solution has robust employee data reporting functionalities that let you get a granular view of key business performance metrics. Using this, payroll teams can check compensation trends, IT teams can monitor productivity issues, and HR teams can monitor employee turnover levels as well as overall employee performance. What is more, these custom reports and graphs can be generated depending on a company’s specific needs.
3. Electronic document management. Perhaps among the most unique functionalities of this platform is that Rippling comes with a built-in document management system. This allows HR teams to collect online signatures on important company documents or government forms instantaneously. With this, you can roll out a completely paperless process within your team. What is more, the platform comes with enterprise-grade security so you can rest assured that all your sensitive documents are protected at all times.
4. Seamless integrations. Rippling can integrate with over 500 third-party applications which include popular platforms like Slack, GSuite, Asana, TSheets, and PayPal, to name a few. This allows you to simplify data import/export and also streamline your workflows. What is more, the platform comes with open API so you can easily extend the functionalities of the solution.

6. OnPay

Easy-to-use yet total payroll solution OnPay offers small and medium-size businesses highly-scalable applications. This cloud-based software is capable of streamlining payroll processes while automating tax filing and payment. It seamlessly enters payroll data like hours, reimbursements, tips, and bonuses. Responsibilities other than payroll can likewise be managed using the system, including benefits and compensation insurance for staff who work on a pay-as-you-go basis.

OnPay

Try out OnPay with their free trial

The vendor offers a great free trial that lets you try out all the key features first. You can easily sign up for an OnPay free trial.

The platform is so robust that it can handle unlimited payroll runs for W-2 workers and 1099 for contract staff on a monthly basis. Employees can be paid either through check or direct deposit, whichever is preferable to the user. However, one has to apply for the feature and pass a risk assessment test before being able to use the functionality. With all these features, OnPay is indeed one of the most cost-effective software of its kind today.

What is Unique About OnPay?

1. Employee self-service.OnPay allows workers to enter their own personal information, edit them, and retrieve their paystubs and tax forms, all done through online access. This saves managers precious time and allows them to focus on more important matters. For companies that have new workers, the app is capable of reporting them to the government.
2. Improved payroll compliance. Being a veteran in the business, OnPay knows the ins and outs of payroll tax preparation. The platform handles IRS and state taxes while doing the payroll. This involves the computation of taxes, payment and tax form filling. The vendor is so confident of its product that it offers to pay fines incurred from errors committed by the software. What’s even better is that users with inquiries are gladly assisted by certified payroll professionals during weekdays.
3. HR process management. To stay on top of the payroll management process, one needs to be able to store documents and take notes. OnPay lets you do these and much more. Users are allowed to add comments, format, and edit the notes. An online HR library is also accessible, allowing users to get employee handbook templates and state employment laws. Apart from these, users also get to be able to track accrued time easily for 3-tier PTO, sick, and vacation accruals.
4. Simplified health insurance benefits. With OnPay, users can administer health insurance nationwide. The platform works with numerous licensed insurance brokers to help customers improve their understanding of benefits such as medical, dental, and vision offerings. The computation of such benefits is streamlined as they are integrated into the system. Furthermore, researching insurance and their corresponding quotes come at no additional fee. What’s even better is that the software automates the management of 401(k) plans as it comes with secure harbor plans and contribution matching capabilities.
5. Streamlined payroll. OnPay’s key feature is its ability to allow for unlimited pay runs. This allows businesses to run payrolls in accordance to their preference without having to pay additional fees. This may come in the form of corrections and pay run cancellations. Data entry is also eliminated using the system, with employee data saved in a secure vault. The interface is user-friendly and designed for mobility, allowing users to quickly and easily process payrolls.

7. Trolley

Trolley, formerly known as Payment Rails, is a complete payout platform that makes it easy for businesses to send payments to various parts of the world. With Trolley, businesses can arrange payments for staff, freelancers, and business partners in their local currency, without going through the hassle of setting up subsidiaries or a local bank account.

The solution is composed of payment management features on the sender’s side as well as a quick-install widget on the recipient’s side. It also has a watchlist screening feature to protect your business from malicious actors. Rounding out its feature set is its tax compliance component which takes the pain out of collecting and reporting tax forms every tax season.

With this, Trolley is a good fit for organizations that deal with paying partners and vendors in multiple currencies. It is also ideal for companies looking to digitize and automate how they file and process tax forms.

What is unique about Trolley?

1. Global payments. Trolley allows you to send payments via SWIFT bank transfers to over 220 countries in more than 135 currencies. Local bank transfers are also available in over 60 countries. In addition, senders can transfer funds electronically via VISA or Mastercard transfers or to mobile money accounts. With over 25 payment methods accepted, the solution gives you the flexibility you need to send payments.
2. Live payment tracking. With Trolley, it’s possible to track the status of your payments every step of the way. You get a real-time view detailing the stage that your payment is in, as well as the date and timestamps of the payment status.
3. Recipient widget. Trolley makes it easy not only to send payments but also to receive payments. Thanks to a recipient widget that can be integrated into a website or mobile app in 20 minutes or less, you can easily capture and validate bank account details.
4. Watchlist screening. Using artificial and fuzzy matching logic, Trolley has built-in compliance checks for money laundering, terrorism financing, and other relevant laws.

8. Xero

Xero is one of the market leaders when it comes to financial collaboration apps. This system is designed to meet the requirements of small businesses regardless of the type of business or industry.

Xero

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Xero has been often been recognized by accountants as the “handiest asset for managing financial activities.” But even for non-accountant users, they will find Xero easy to manage, as it transforms some of the most standardized and complex financial concepts into simplified functions, making its usability one of the software’s many strong points. So far, nearly half a million business and sole accountants have taken advantage of Xero’s enterprise-grade features that can manage invoicing, inventory, bills payment, bank reconciliation, cash flow, expense claims, POs, time tracking, and payroll, among others. It supports financial reporting, online payment, multi-currency, business performance dashboard, sales tax calculation, and more.

What is unique about Xero?

1. Payroll performer. Important functionalities are bundled in the Settings tab where you enter corporate information and adjust financial settings. One of those tabs is the Accounts menu, where you can find and alter checks, bank accounts, and expense claims and create records for your payroll needs. Currently, Xero processes and runs payrolls, and automatically adjusts taxes for more than 20 states.
2. Security-focused. Transactions in Xero utilize multiple-approval model and two-factor authentication to minimize financial fraud. For every transaction, there will be a detailed list of performed actions, including dates, users, and manual notes. In sales, the method makes it possible to control purchase orders, and categorize invoices as drafted, awaiting approval, awaiting payment, or delayed.
3. It provides an overview of your finances. The app provides feedback on your company’s financial operations through its reporting feature which can summarize the effects of all your activities, by simply filling the filters you’d like to see included. You can make basic reports or advanced ones based on your parameters.
4. Robust record keeper. Xero allows you to create and keep detailed possession records to use automatically in your transactions. All of these records are robust and contain details such as tax status, purchase costs, committed quotes, and relevant descriptions.

9. Eddy

As a cloud-based HR management software, Eddy makes hiring, onboarding, and managing human resources easy and straightforward. While simplicity is its game, Eddy packs powerful features in one intuitive package. From applicant tracking and recruitment to employee messaging and record maintenance, Eddy does it all. And one of its main bread-and-butter features is its integration of a payroll system, with support for direct deposit, check signing, flexible reports, tax compliance, and online access for employees.

Like EPAY Systems, Eddy is quote-based. You can get the features you need and ask the vendor for the total price.

Apart from a powerful real-time report generation feature that helps you draw actionable insights to improve your processes, Eddy is also regularly maintained. As of this writing, planned features in the pipeline include benefits tracking and performance management.

What Is Unique About Eddy?

1. All-in-one recruitment. Eddy allows you to recruit by posting on job boards. No longer will you need to switch from different sites; you just need to be on Eddy and it will handle the rest. It can search, filter, and track candidates and its onboarding suite can be customized.
2. Collaborate with your team. With Eddy, your team can be appraised of every situation as far as HR is concerned. The communication module that comes with Eddy supports chats, comments, and reactions, bringing the power of social media into your office.
3. Simplifies HR—and more. Apart from its clean, intuitive interface, Eddy consolidates all HR functions in one cloud-based hub. You can store personnel information in the software’s built-in directory, which contains data like contact information, FLSA classification, and social security. You can even add custom fields, such as clothing sizes, in case of activities like team building or giveaways.

10. Sage 50 Accounting

Sage 50 Accounting is a comprehensive desktop accounting software with integrated cloud connectivity, offering businesses a holistic view of their financials and inventory. The platform ensures flexibility and collaboration by enabling users to work remotely and securely share data with accountants.

What sets this platform apart is its hybrid nature – it functions as both a desktop application and integrates a cloud component for enhanced data access and storage capabilities. The platform also empowers users with features to effectively handle cash flow, automate bank reconciliation, exercise control over project costs, monitor inventory, and make well-informed decisions utilizing detailed reports. If you’re keen on delving deeper into the capabilities of Sage 50cloud, you experience its functionalities through a test drive by signing up via the official website.

What is unique about Sage 50 Accounting?

1. Cloud connectivity. This function allows users to operate with enhanced flexibility, enabling remote work and access to business data from any location.
2. Intuitive financial management. The platform facilitates strategic planning by allowing users to run what-if scenarios, enabling them to anticipate and prepare for different financial outcomes.
3. Bank reconciliation automation. Users can swiftly identify cleared accounts and address any unreconciled differences, ensuring the accuracy of financial records. Furthermore, the software streamlines the matching of received payments to customer invoices, providing a seamless and error-free process for tracking transactions and maintaining financial clarity.
4. Comprehensive job costing and management. Users can exercise precise control over project costs by utilizing unique records, phases, and cost codes, ensuring meticulous financial management throughout the project lifecycle. To further tailor project management to specific business requirements, the platform allows customization of job statuses and contact fields, ensuring flexibility and alignment with individual organizational needs.
5. Efficient stock management. Users can seamlessly track stock from any location, eliminating the need for extended periods at the warehouse. The platform enables continuous monitoring of stock levels and orders, ensuring businesses are well-informed about their inventory status.
6. Cloud-enabled reports. Users can run unlimited reports, customize pre-templated one-click reports, and seamlessly export or email them directly from the software, streamlining the reporting process for informed business analysis.
7. Built-in fraud protection. Sage 50 Accounting incorporates Sage Security Shield for advanced fraud protection, ensuring the security of financial data. The platform is further customizable with pre-built add-on tools, allowing users to enhance overall functionality based on their specific business needs.

11. Zoho Books

Zoho Books is a smart online accounting solution built for small and mid-sized businesses to handle their finances and keep them in control of their cash flow. It is the pioneer accounting product of an established software provider noted for its quality products, uptime, support, and security. With the software, you can send professional invoices to customers, receive online payments, control your expenses, eliminate compliance worries, organize all types of transactions, and be on top of your company’s finances, right from within a single platform.

Zoho Books

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Zoho Books helps you manage finances per project, where you can add tasks, assign members, and follow processes using your mobile device. The distinctive advantage of Zoho Books is how it does away with data entry, and allows you to import all bank and credit card transactions, and categorize those according to your bank’s rules. This setup doesn’t only save time but makes sure you’re working safely, and in line with all compliance standards.

What is unique about Zoho Books?

1. It’s from the Zoho family. Zoho is one of today’s leading software providers with more than 13 million users from around the world. It has 25 applications that encompass just about every business and productivity tools. Zoho Books works with other Zoho Apps, making the accounting app an extensible and flexible solution.
2. Connects with Zoho People. The connectivity and integration capabilities of Zoho apps mean you can get one Zoho solution and beef it up with another one. For a complete HR solution to pair with your accounting app, you can have Zoho People work with Zoho Books to automate HR process, attendance, leave, and employee information, and link them with your accounting tool.
3. It manages and tracks your projects. For any of your projects, you can log in and enter the time you spent completing it, so that Zoho Books would record the expenses incurred for it, and invoice clients about it. This saves time as operations are assigned to employees in charge, to and contractors.
4. Fully responsive and mobile-ready. Zoho Books is ideal for all teams who need to manage finances wherever they are as it comes with dedicated apps for Windows, Mac, iOS, and Android devices.

12. Patriot Software

Patriot Software is a budget-friendly payroll solution. It can simplify your payroll process in as little as 3 clicks. It can also handle direct deposit and checks with unlimited, 24/7 payroll processing. Among its features include adaptability, which can “learn” your organization’s unique payout schedules, and can print W-2 templates. And, like many modern software, it integrates with your other apps, such as time tracking and attendance for a full HR suite.

One of its draws is that its software is priced in a flexible and reasonable manner. It comes in two packages—Basic Payroll and Full-Service Payroll—which can scale to how many employees are in your payroll ($4 per employee). You can also try Patriot Software for a 30-day free trial.

Patriot Software

Try out Patriot Software with their free trial

Apart from these, Patriot Software has a native mobile app so you can manage your payroll while on the go. It also comes with an employee portal, where your staff can look at the details of their paycheck, and a complete payroll and tax report capability.

What Is Unique About Patriot Software?

1. Accurate processing. Patriot Software automates salary computation, which helps improve accuracy. The Full-Service Package even computes for the appropriate taxes, leaving no room for regulatory penalties.
2. User-friendly. The software is designed for nontechnical people. With a three-step process—run, enter hours, and approve—paying your employees is as easy as pie. And if you encounter difficulties, the vendor’s support team is there to assist you.
3. Scalable pricing. Patriot Software scales with you, with an affordable $4 recurring free for each user. You don’t have to start big right away, which helps you save money as you grow. Plus, it offers free perks that are otherwise paid in other systems, such as direct deposits and a free employee portal.
4. Integration with third-party software. Alongside its native integration with other Patriot solutions, it also works with other HR platforms like scheduling. It also integrates with other accounting software.

13. ADP Workforce Now

ADP Workforce Now is a web-based HR application intended for small to midsize businesses. It can gather and automate all important HR processes into a single dashboard and implement user permissions for employees to help them coordinate and handle several HR functions. The platform allows you to manage employee payroll, time and attendance, benefits, and holidays as well as easily generate insightful reports. ADP Workforce Now comes with a benefit plan creation wizard, which can be configured according to the policies and processes of your company.

Benefits administration features are all compliant with annual reporting requirements for IRS forms 1094 and 1095. A dashboard is available for reporting purposes such as status and confirmation reports and information on premiums, deductions, beneficiaries, covered dependents, coverage levels, and enrollments.

What is unique about ADP Workforce Now?

1. Transparent workforce management. The app is fully transparent and provides visibility from a single dashboard to help you manage payroll, benefits, bonuses, commissions, time and attendance, employee health statistics, and talent management.
2. Usability and optimization. The platform can be accessed on smartphones and tablets through mobile apps for Android and iOS that are fully synced with the web-based dashboard, allowing you to manage your HR anytime, anywhere.
3. Real-time analytics. ADP Workforce Now displays analytics in real-time and you can create customized spreadsheets, graphs, charts, and reports. You get analytics that helps you make smarter decisions and see how your company compares against benchmark data.
4. Productivity booster. The software allows you to improve productivity with automated time tracking, reporting features, and employee self-service that is accessible on mobile devices.
5. Manage your human resources. You can go beyond administration and compliance, which is taken care of by the software, and focus on recruiting, engaging, retaining, and promoting your employees.

14. Dayforce HCM

Dayforce HCM is a cloud-based platform for workforce management, payroll and tax, analytics, benefits, document management, talent management, and HR management. The integrated platform gives you access to real-time data across all areas of human capital management (HCM), allowing you to process payments, manage benefits enrollment, maintain HR records, manage compliance, and schedule staff with work-life balance. You consolidate a single employee record with all HCM processes. The unified HCM suite puts you on top of core human resources, onboarding, benefits administration, payroll, and more. It is a flexible Web platform compatible with all popular browsers.

What is unique about Dayforce HCM?

1. Rules engine. Dayforce HCM is a single unified application driven by a rules engine to provide you accuracy, agility, and visibility for your payroll processing, time and attendance, benefits and other aspects of workforce management.
2. Reports with embedded analytics. Managers can get access to real-time reports that have embedded analytics and get important data across applications and departments. The software uses only one record for each employee, which minimizes errors and redundancy.
3. Pay information access. The platform lets employees view and manage their pay information anywhere at all times via web or mobile access. Employees can view pay breakdown through graphs, or access their full statement of earnings pay history for additional detail.
4. Designed for mobile. The platform’s responsive design is meant for tablets so that managers can review, edit, and approve their employees’ timecards without being confined to a back-office. It gives a traditional grid view of time and attendance as well as a hierarchy view for approving time and breaking out data by day or pay category.
5. Expert assistance. The vendor provides payroll and tax experts to help with garnishments, tax filings, and other payroll-related activities. It also offers multi-currency and multi-language support as well as additional assistance for international personnel tracking.

15. Wave

Wave Apps is a free business platform that brings together functions to manage payroll, accounting, invoicing, and receipt scanning into one simple and compact package. Wave Apps is an ideal option for small businesses with less than 10 employees as well as self-employed professionals including entrepreneurs, freelancers, and consultants. The system is easy to set up and straightforward to use. It comes with a very navigable dashboard where everything you need is in view and easy to access. With the software, accounting and invoicing processes are streamlined, eliminating the intricacies of monitoring expenses, chasing payments, and managing employees and taxes. The system helps users create and send out professional-looking invoicing, estimates, and receipts in a matter of moments. Tracking capabilities ensure that you are on top of your processes.

What is unique about Wave?

1. Zero cost solution. Aside from being a free platform, there are no hidden charges and undeclared fees, making it a perfect accounting and invoicing tool for small startups, freelancing professionals, and consultants.
2. Invoice creator. With Wave, creating professional-looking invoices, estimates, and receipts is a smooth process. You can monitor the status of all your invoices and accept payments via credit cards.
3. Automatic billing and invoicing. You can save a lot of time with features that automatically manage recurring bills and invoices, and notifications to remind you of paid and unpaid items.
4. Simplifies expense tracking. Wave comes with capabilities to simplify expense tracking. It also has receipt scanning tools and bank connections, and takes out manual data entry from the equation, streamlining the process without compromising accuracy. It likewise prepares your business for tax season without the hassle.

16. Zenefits

Zenefits is an online platform intended to help small and medium businesses manage HR administration including complex payroll management processes. The software carry features such as business intelligence, employee directory, insurance benefits, payroll sync, customer support, hiring and onboarding, ACA compliance, mobile optimization, and many others. Zenefits unifies all of your company’s HR functions into an easy-to-use online dashboard, giving you greater control, allowing your employees greater access, and providing your business greater confidence in its compliance. You can stay up to date on earnings, deductions, and taxes without any clicks and spreadsheets since the system pushes any changes to HR, benefits, hours, and time-off straight into payroll, simplifying and automating the task.

What is unique about Zenefits?

1. Free platform. The software is free for use, providing a great value for small business, startups, or even individual HR managers looking for an optimal HR service solution.
2. Compliant solution. Zenefits manages all aspects of employee insurance online, providing you or your HR manager the option to keep your existing plans or choose from an extensive selection of new benefits options available in the system. You will be able to report on employee benefit eligibility and coverage status, as well as quickly e-file taxes with the IRS.
3. Connected payroll. The payroll feature connects with everything else you manage in Zenefits, automatically updating itself whenever changes are made. You will be able to do time entry and approval processes, reduce errors, and ensure that your hourly employees are paid accurately and on time.
4. Works with existing payroll. Even if you have another payroll provider, you can easily set up Zenefits Pay Connect Zenefits to share your HR and benefits data with your existing solution. The Zenefits platform supports popular payroll providers such as OnPay, Gusto, Intuit, and Paychex.

17. Sage Intacct

Sage Intacct is an innovative solution in cloud financial management. It combines two of the leading business platforms: Sage, which is known for cloud computing, and Intacct, a top finance and accounting solution. What you get in Sage Intacct is a comprehensive ERP system for accounts payable/receivable, cash management, order management, reporting and dashboards, contract revenue management, sales and use tax, inventory management, budgeting and planning and contract revenue management, among a host of others–all delivered through the cloud. Used by both startups large businesses, Sage Intacct is designed to improve company performance and make finance more productive. As proof of its standing in the software community, particularly in the area of accounting and finance, hundreds of leading CPA firms and Value Added Resellers offer the platform to their clients.

What is unique about Sage Intacct?

1. Highly-recognized solution. Sage Intacct is recognized by the American Institute of Certified Public Accountants (AICPA) as their top provider of financial-related applications to CPAs. Moreover, Sage Intacct is recipient of numerous awards including those from CRN Magazine (Top 20 Cloud Software & Apps Vendors) and OnDemand 100 (Fastest Growing Private Cloud Computing Companies 2010, 2011).
2. Wide range of core accounting capabilities. General ledger makes data entry smoother and less time consuming, while minimizing errors in financial reports. For businesses requiring project accounting, Sage Intacct can lower revenue leaks and increase control over basic costs and margins which can be used to come up with more precise projections.
3. Human resource accounting. Sage Intacct has an HR module that covers payroll, benefits administration, and time tracking to help your HR team manage the tasks of payroll, commissions, and insurance for the whole enterprise. The platform uses a connected and single payroll system across distributed locations to guide management and HR teams, and give accounting a view into payroll performance and activities.
4. Built-in and customizable reports. The software comes with built-in report templates. Balance sheets can be used to analyze performance and track sales, and reporting can be simplified based on presentation requirements.

18. Intuit Payroll

Intuit Payroll is a popular payroll solution that comes in three packages to fit various business needs and budgets. It allows companies to pay their employees efficiently and accurately, automating payroll tax calculations, and even generating unlimited paychecks. It is built as a worry-free solution for payroll management. The software integrates with QuickBooks, another Intuit product, for robust accounting and improving the cash flow of your business by ensuring that you compensate your workers accurately. With the system’s integrated workers’ compensation payment service, you only pay what you owe your employees. Intuit Payroll’s functionalities go beyond payroll as it also has tools for employee management, helping you hire top talent and keep up with existing mandatory policies in compliance with Federal and State labor laws.

What is unique about Intuit Payroll?

1. Easy payroll management. Intuit’s Payroll software let’s pay your employees quickly and easily. It calculates payroll taxes automatically and can create unlimited paychecks instantly. It can work on its own or paired with QuickBooks for a beefier system.
2. World-class support. Intuit is known for its quality and dependable customer support. You can call for free support from live experts, get step-by-step help with set up, and chat online with a payroll specialist.
3. Free paycheck calculator. Intuit’s free paycheck calculator takes the guesswork out of payroll taxes makes it easy to calculate paychecks for both your hourly and salary employees. It can crunch the numbers and factor in overtime, bonuses, or commissions to give you a rundown of exactly how much to pay your employees and how much to deduct for taxes.
4. Create paychecks immediately. No need to wait for payroll checks to arrive. You can use Intuit’s free direct deposit, or print paychecks immediately. With your online payroll account, Intuit can automatically create paychecks as soon as you enter hours or approve salaries, and you can print paychecks immediately on your own printer. It’s no longer an emergency when you need to come up with a special paycheck.
5. Popular payroll platform. More than one million businesses use Intuit Payroll. That speaks for itself.

19. Namely

Namely is a comprehensive human resources suite that combines functionalities for payroll, benefits, and talent management. It has been the platform of choice for about 400 companies with some 60,000 employees worldwide. Namely is a cloud-based solution that allows companies to manage compliance and streamline HR processes such as calculating paychecks that accurately show deductions for taxes and contributions for benefits such as health insurance. Likewise, it has features for overall employee performance review, time-off tracking, goals, team planning, reporting, and more. It can be configured and scaled according to the requirements of the business requirements, and comes with a permissions engine to enable layered access levels to specific information, reports, views, and functions.

What is unique about Namely?

1. All-in-one modern HR platform. Namely brings with it features and tools of a modern HR solution including employee database, social news feeds, mobile apps, custom profiles, analytics, organizational charts, roles and permissions, calendar, auditing, and workflow automation.
2. Full-service payroll. Namely automatically keeps all HR data and payroll in sync, updates benefits deductions, simplifies the filing of payroll taxes, handles W-2s and 1099s as well as other yearend reporting, and stays compliant with tax laws, among others.
3. Robust time management. You can track employee time, import hours to payroll, clock in and manage time via mobile, create and manage employee schedule in real-time, make mass changes to schedules, view and manage the entire hourly workforce from the dashboard, and get detailed reports on time-related matters.
4. Managed services. Namely offers to assist, handle, and administer for you the platform, payroll processing and reporting tasks, tax registration, employment verification, benefits enrollment, and even filing of compliance and forms on your behalf.
5. Dedicated account manager. Namely provides a dedicated account manager for each client and delivers 24/7 support through phone, email, tickets, and training.

Whether you are a payroll service provider, an independent accountant, or a business looking for an accounting system, the solutions above can meet your requirements. Among them, Xero may well be your best option considering its payroll features are natively integrated into one of the most reliable and trusted accounting systems. You can find out for yourself how this setup fits your workflows.

20. QuickBooks Payroll

QuickBooks Payroll has an easy-to-use interface that allows for unlimited payment schedules and 24-hour direct deposits. Its advanced tools make it easy for payroll service providers and accountants to attend to numerous client needs and requests.

QuickBooks Payroll has automation-ready tools that can track inventory, manage more than a thousand contractors, customize user permission, track income and expenses, maximize tax deductions, create invoices, and accept payments. All its tools are one-click solutions that require no advanced technical skills from its users. Hence, payroll service providers and accountants can easily delegate tasks and still secure accurate and updated data.

QuickBooks Payroll’s  monitoring tools can handle multiple projects with easy-to-understand and clear periodical reports. All users can instantly see profitability data transposed with payroll costs.

Payroll software providers and accountants have the option to choose between a Self Service or Full Service payroll plan. QuickBooks Payroll is cost-efficient as pricing is scalable and based on the number of employees enrolled for payroll.

What is unique about QuickBooks Payroll?

1. Clean User Interface. QuickBooks Payroll is a popular payroll software among service providers for its user-friendly interface that does not intimidate non-technical users. Users can take full advantage of its cost-efficient Self Service Payroll Plan, since all tools can be managed and operated by users with no advanced accounting and bookkeeping skills.
2. Instant Payment. QuickBooks Payroll provides a feature that allows for funds to be transferred within 24 hours. This advanced tool effectively prevents delays in payroll.
3. Project Profitability Tracker. Users can utilize QuickBook Pro’s patented Project Profitability Tracker to maximize profit and minimize expenses through real-time monitoring and analytics.
4. Inventory Tracker. QuickBooks Payroll offers an inventory tracker for accountants that handle expanded bookkeeping tools for retail shops, restaurants, cafes, and merchandisers.
5. Tax compliance. A dedicated group of tax experts provides updated tax compliance tools for maximum utilization of deductions. Forms for W2s are also accessible and print-ready.

What Security Features Are Important for Payroll Software?

Security should be a top priority when selecting payroll software, as it handles sensitive employee information and financial data. Here are key security features to look for:

• Data Encryption: Ensure the software uses strong encryption protocols to protect data both at rest and in transit. This prevents unauthorized access to sensitive information like Social Security numbers, bank account details, and payroll records.
• User Authentication: Implement robust user authentication methods, such as two-factor authentication (2FA) or biometric login. This adds an extra layer of security, ensuring that only authorized personnel can access the payroll system.
• Regular Software Updates: Choose payroll software that receives regular updates and patches. This is crucial for fixing security vulnerabilities and protecting against the latest threats. Vendors should have a clear update schedule to keep systems secure.
• Audit Trails: Look for software that maintains comprehensive audit trails, which log all user activities and changes made within the system. This feature allows businesses to track access and modifications, enhancing accountability and helping identify any suspicious behavior.
• Backup and Disaster Recovery: Ensure the payroll software includes automated data backup and a disaster recovery plan. This is vital for protecting data from loss due to system failures, cyberattacks, or natural disasters, ensuring business continuity.

Picking the Right Payroll Solution

Choosing which software to avail of does not only revolve around its performance and price; a bigger factor is the features. Initially, you should assess what your business truly needs. For instance, a company that has yet to digitize its HR process might be better off with an HR software suite provided that they have a module for payroll. Those who already have a recruitment or HR system in place should probably get a standalone payroll application.

And in regard to standalone systems, Paychex comes as the most ideal choice. It eliminates pain points in the payroll process and ensures that payroll management is devoid of costly errors. What’s more, the software is fully compliant with industry standards, so you can concentrate on the job, and not the bureaucracy involved. The value for money here is high.

In case you want a more comprehensive take on what payroll systems can do before making a decision, you can peruse our guide on why payroll software is useful. Insights can surely be picked up from that feature.

Key Insights

• Efficiency and Automation: Payroll software like Paychex, Justworks, and Gusto are designed to automate payroll processes, reducing cycle times and minimizing manual errors.
• Integration with Other Tools: Many payroll platforms, such as Paychex and Rippling, offer seamless integration with popular accounting, HR, and productivity tools, enhancing workflow efficiency.
• Compliance Support: Payroll software like Paychex and ADP Workforce Now include compliance features to help manage federal, state, and local payroll tax regulations, reducing the risk of penalties.
• Employee Self-Service: Platforms like Paychex and OnPay empower employees by allowing them to access their payroll information, manage personal details, and communicate with HR directly through a self-service portal.
• Global Payment Capabilities: Solutions like Trolley enable businesses to handle international payments in multiple currencies, simplifying global payroll management.
• Comprehensive HCM Solutions: Products like Paycor and Dayforce HCM offer extensive human capital management features, including recruitment, onboarding, benefits administration, and payroll, in one integrated platform.
• User-Friendly Interfaces: Software such as QuickBooks Payroll and Patriot Software are designed with intuitive interfaces, making them accessible even for users without advanced technical skills.
• Scalability: Many payroll solutions, including Patriot Software and QuickBooks Payroll, offer scalable pricing models that grow with your business, making them suitable for small to mid-sized companies.
• Mobile Access: Several platforms, such as Paycor and Dayforce HCM, provide mobile applications, allowing users to manage payroll and HR tasks on the go.
• Dedicated Support: Vendors like Namely and ADP Workforce Now offer dedicated account managers and comprehensive support to assist with payroll processing and compliance issues.

FAQ

1. What features should I look for in payroll software? When selecting payroll software, consider features such as automation of payroll processes, integration with other business tools, compliance support, employee self-service portals, scalability, user-friendly interfaces, and mobile access.
2. How can payroll software help with compliance? Payroll software typically includes compliance features that manage federal, state, and local payroll tax regulations. They ensure accurate tax calculations, timely filings, and updates on changing laws to reduce the risk of penalties.
3. What are the benefits of integrating payroll software with other tools? Integrating payroll software with accounting, HR, and productivity tools can streamline workflows, reduce data entry errors, and provide a more comprehensive view of business operations, enhancing overall efficiency.
4. Why is employee self-service important in payroll software? Employee self-service portals allow employees to access their payroll information, update personal details, and communicate with HR directly, reducing the administrative burden on HR teams and empowering employees to manage their own data.
5. How can payroll software facilitate global payments? Solutions like Trolley offer global payment capabilities, enabling businesses to handle international payments in multiple currencies without the need to set up local bank accounts or subsidiaries, simplifying global payroll management.
6. What are the advantages of using a comprehensive HCM solution? Comprehensive HCM solutions like Paycor and Dayforce HCM offer integrated features for recruitment, onboarding, benefits administration, payroll, and more, providing a unified platform to manage all aspects of human capital management efficiently.
7. How can mobile access benefit payroll management? Mobile applications provided by platforms like Paycor and Dayforce HCM allow users to manage payroll and HR tasks from anywhere, ensuring flexibility and timely processing even when away from the office.
8. What kind of support can I expect from payroll software vendors? Many vendors, such as Namely and ADP Workforce Now, offer dedicated account managers, customer support through various channels (phone, email, chat), and resources to assist with payroll processing, compliance, and other related tasks.

By Daniel Epstein

Daniel Epstein is a senior financial research analyst at FinancesOnline and the architect behind our Fintech and ERP content division. His main areas of expertise are blockchain technologies, cryptocurrencies, and the use of biometrics in fintech solutions. His work has been frequently quoted by such publications as Forbes, USA Today, Entrepreneur, and LA Times. With more than 1,800 solutions scrutinized in the last 5 years spent on our team he always prioritized offering readers an unbiased perspective on modern financial technologies.