Payroll Software Comparison
A small business payroll solution can save you time, money, and potential legal costs. Making sure employees are paid on time with adequate tax withholding is a big responsibility. There are a ton of payroll providers in the market, ranging from completely outsourced solutions like Paychex and ADP to completely do-it-yourself solutions like Intuit QuickBooks Payroll and PayCycle.
Before considering a payroll solution, you should ask yourself these key questions:
1. How often do you need to pay your employees?
2. How many employees do you have?
3. Do you want to offer direct deposit?
4. Do you need your payroll service to file taxes on your behalf?
5. Do you have employees in more than one state?
If you have several employees that you need to pay on a bi-weekly basis, payroll can become an onerous task. Additionally, providing direct deposit is nearly impossibly without a payroll solution that offers ACH transfers. Inter-state businesses also create a more complex tax situation for small businesses.
If your business uses QuickBooks, the choice is very simple0–QuickBooks Enhanced Payroll is likely the right product for you. Another great option is Intuit Online Payroll, which has a 100% free trial available.
ADP and Paychex offer expensive outsourced solutions that can cost you business up to $1,000 a month. If you have an in-house accountant, outsourced payroll isn’t a good option because you can get this expertise from within your business. If you don’t have a strong accounting staff, ADP or Paychex may be a decent solution, but comes with a hefty monthly price.
