Small businesses are the backbone of the economy, yet they often lack the resources to manage payroll processing efficiently and effectively. This can be particularly challenging for businesses that lack the infrastructure and personnel to handle payroll processing on their own. Fortunately, there are many excellent payroll processing companies that specialize in providing comprehensive solutions for small businesses. In this blog post, we will take a close look at the best payroll processing companies for small businesses and discuss the important features and benefits they offer to help you make an informed decision. Whether you are looking for a comprehensive payroll solution, the ability to process payroll taxes and deductions, or efficient financial reporting, the best payroll processing companies have the tools and capabilities to help you manage your payroll processing needs with ease.
Gusto is one of the new kids on the block, but don’t let that fool you. It has become one of the top payroll processing companies for small businesses. It offers a streamlined cloud-based payroll system that is simple and user-friendly. Gusto’s system is extremely efficient and automated, which makes the payroll process much easier to manage. This system also includes employee onboarding and off boarding, time tracking, and direct deposit options. With Gusto, you can easily manage payroll, taxes, benefits, and compliance from one centralized platform. Additionally, Gusto offers excellent customer service, so you’ll always have help when you need it. Although some features are paid, they offer two different plans for employers, and even allow for a contractor system. The employee plan starts out at $40/month and $6/per person, and the more feature rich plan is $60/month and $9 per person. The great thing about Gusto payroll (and the reason we use it) is that it automatically deducts the state and federal taxes from your employee’s paychecks and pays the taxes to the appropriate government agency. You sign some paperwork when you’re setting this up, but once you’re done, all you do is confirm your employee’s hours.
ADP has been around for several decades (it was started a few years after WWII ended). It is a comprehensive payroll provider that caters to businesses of all sizes. They offer a wide range of services that include payroll processing, payroll taxes, benefits administration, and human capital management. They also offer custom-built products to fit your business’s needs. Their customer service is top-notch, with an experienced team of experts who are available to help you with any questions or problems you may face. ADP is a choice for small businesses looking for the best payroll processing companies. One downside is that unlike Gusto, you need to speak with someone in order to get a qoute. The pricing is comparable, but if you’re trying to get set up as fast as possible on your own, ADP may take a bit longer.
3. QuickBooks Payroll
QuickBooks Payroll is an excellent payroll processing solution for small businesses. This online service allows small business owners to easily manage payroll for their employees with minimal effort. This would definitely be an option for those small business owners who alreayd sue quickbooks for their accounting needs. QuickBooks Payroll’s user-friendly interface helps streamline payroll processing and enables businesses to generate accurate and timely payroll reports. Additionally, the software includes a variety of features to make payroll processing easier, including direct deposit, automatic tax calculations, and employee time tracking. QuickBooks Payroll’s customer service is also top-notch, with 24/7 support available. Their pricing is a bit higher, starting at $75/month and $5/month per employee. The thing about Quickbooks is you know what you’re getting, and for some people that is worth paying for. Overall, QuickBooks Payroll is a great payroll processing option for small businesses looking for an easy-to-use, reliable, and affordable solution.
Wagepoint is also one of the newer companies, but can provide you with what you need. They have an online calcuator that tells you what you should expect to pay. Wagepoint is an ideal payroll processing company for small businesses because of its affordability, user-friendly interface, and comprehensive features. It offers multiple payment options, including direct deposits, paper checks, and prepaid cards, with no additional fees for direct deposit. For example, if you have 1 employee and pay them twice a month, you will be looking to pay Wagepoint $22 per payroll. This comes out to $44/month. For 2 employees, it will be $24 per payroll semi monthly.Additionally, it provides an intuitive dashboard for managing payrolls, making it easy for business owners to keep track of employee wages, benefits, taxes, and other key data. Furthermore, its customer service team is always available to help with any questions or concerns.
5. Square Payroll
Square Payroll is a great choice for small businesses looking for an easy-to-use payroll processing company. With Square Payroll, you can quickly and easily set up payroll in your small business and keep track of employee pay, benefits, and taxes. They also offer features such as direct deposit, employee self-service, and customizable reports. Square Payroll also allows you to easily adjust payroll for bonuses, commissions, and employee reimbursement plans. Plus, Square Payroll integrates with Square Point of Sale, making it easy to manage employee time tracking and attendance. Their pricing is also competitive starting at $35/month for their service and then $5/per person, per month. If you do the math, for 1 employee, most companies will charge you about $40/month to process payroll. Quickbooks will be on the higher end of about $80/month.
In conclusion, small businesses have a lot of choices when it comes to payroll processing. Finding the right one is a matter of understanding your company’s needs, as well as researching the various features offered by the different payroll processing companies. The companies on this list provide some of the best payroll processing services available to small businesses, so you can be sure that you are getting a reliable and secure service. With the right payroll processing company, your small business can save time, money, and hassle with payroll processing. Our business uses Gusto, and although there are a lot of good options, that is the one we recommend for you. In short, it’s our opinion the best payroll processing companies for small businesses is Gusto. Click here to check out Gusto.