How to Manage Payroll for Your Small Business

SurePayroll is designed for small business owners and includes a special version for those paying domestic staff. Best for small businesses with 10 employees or less, SurePayroll has worked to automate the entire payroll process, a major bonus for already overworked business wave to zoho books migration guide 2020 owners. Use this tool to explore different payroll software options tailored to streamline your payroll process, enhance security, and save valuable administrative time. Make the right choice to keep your payroll running smoothly and your employees happy.

1. ADP is reluctant to release pricing details for their payroll plans, preferring to speak to business owners about the plans and services available.
2. In fact, 45% of small businesses use a payroll service, according to a 2021 report by the National Small Business Association.
3. OnPay integrates with many third-party applications to simplify the payroll process.
4. This capability, coupled with its contract payment options, makes Wave an ideal option for seasonal businesses such as garden centers and landscaping companies.

Now that we’re past the initial payroll management setup, we’re ready to begin calculating paychecks. Aside from time tracking, all of this information goes accounts payable job description directly into your payroll software. As a small business owner, you’re likely the person in charge of payroll. You might feel like a payroll clerk when you’re manually entering each employee’s hours every two weeks.

Time is money—get more of both

Some might prefer direct deposit, while others might want a check or even a payroll card. If so, choose a payroll software with automation features such as autopilot payroll runs and automated tax filing. Then, look for a software with a free version or one with enough features to replace some of your labor needs, such as a PEO that will handle your payroll management. A basic payroll solution helps you pay employees and, on some platforms, contractors. Use it to facilitate direct deposit as well as to manage payroll checks, taxes and reporting. TriNet’s standout features include automated tax and filing support, unlimited payroll runs, a mobile app and time and attendance tracking.

Until you’re sure how long it will take to complete payroll by payday, it may be helpful to allow some extra time for processing. Keeping up with the complexities of employee withholdings, minimum wage legislation, and IRS forms can be daunting. Outsourcing payroll can also help lighten the burden that often comes with payroll tax compliance, including mitigating your business’s risk of penalties for late or inaccurate payments. ADP is reluctant to release pricing details for their payroll plans, preferring to speak to business owners about the plans and services available.

In addition, they can track their vacation days and request time off using the mobile app. Finally, as an added perk, employees can use the app to access TriNet-offered discounts on technology, groceries and other products. ADP RUN is a good choice for businesses that need highly supported payroll tax compliance features in payroll software. It’s designed for companies with fewer than 50 employees, but is a good fit if you expect to grow beyond that because you could upgrade to ADP Workforce now or ADP’s enterprise platform.

What Are Payroll Services?

Once yield to maturity vs. coupon rate: what’s the difference payroll is submitted, you receive an email confirmation to confirm a completed payroll run. The Forbes Advisor Small Business team is committed to bringing you unbiased rankings and information with full editorial independence. We use product data, first-person testing, strategic methodologies and expert insights to inform all of our content so we can guide you in making the best decisions for your business journey. Wave PayrollPlans start at $20 per month (base) and $6 per person per month.

Plan for Year-End Tax Reporting

TriNet has a 3.8 and 4.0 star review on Capterra and G2 respectively, with 649 user reviews total. Users say the software is extremely easy to use and has comprehensive features. They also say TriNet’s customer support is responsive (responding within just minutes of inquiry submission) and knowledgeable.

Standardize Turnover Processes

QuickBooks Online Payroll can be used for up to 50 employees, but because of varying pricing levels, is most affordable for businesses with 15 employees or less. Some payroll companies offer numerous plans, with some features only found in the more expensive plans, so be sure to keep that in mind when looking for a payroll service provider. Quickbooks Online Payroll seamlessly integrates with the Quickbooks Online accounting software. If you’re already in the Intuit Quickbooks ecosystem, this online payroll management software makes a great choice. Your payroll software usually withdraws enough from your bank account each payroll cycle to make these payments on time.