Before modern payroll solutions, accounting and paying employees was a time-intensive ordeal. HR personnel spend most of their waking hours making sure deposits are 100% correct and error-free. They also had to regularly calculate employee taxes, benefits, and every company bill that had to be paid.
Businesses that didn’t possess good accounting strategies were prone to errors that resulted in profit loss and decreased growth. In worst cases, companies that experienced catastrophic payroll failure faced irreversible reputational damage and financial penalties.
Times have changed. Thanks to technology and the introduction of modern payroll software, accounting has improved immensely. Payroll software simplified complex accounting tasks, enabling HR staff to do their work faster, more straightforward, and more accurately.
This post will provide an overview of the top payroll software for business in 2022. Read on to learn which software is the best choice for your business.
Why Is Payroll Software Important for Businesses?
Payroll solutions are valuable tools that ensure accuracy in the payroll process of businesses. They help manage business payroll by keeping correct financial records, setting up direct deposits, and automating the employee payment process.
In addition to streamlining the payroll process, payroll software can improve your business's financial data security. With excellent payroll software, you don’t have to worry about any data leakage or theft that can disrupt your operations.
Now that modern workplaces are becoming more diverse and decentralized, it’s challenging to ensure correct employee pay. Payroll solutions solve this problem by providing employee payroll that's continually optimized for accuracy.
What Are the Features to Look For in Payroll Software?
Accuracy, simplicity, and clarity are the hallmarks of an effective payroll system. But what features should you look for in modern payroll software? Here’s a quick overview before proceeding with the payroll software program list.
- Easy-to-Setup: A payroll software that’s intuitive and easy to use is essential for small businesses and huge enterprises.
- Tax Filing: Tax filing used to be challenging and time-consuming. Today, payroll software with accurate tax filing and updates is the norm.
- Compensation Management: Other worker compensations such as bonuses, adjustments, and changes in wages should be easily managed with your payroll software.
- Employee Self-Service: This feature allows your employee to access payroll data without asking for permission from the HR department.
- Reporting: Summarize your financial data and allocate resources appropriately with detailed payroll repo
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What Are the Top 15 Payroll Software in 2022?
In this section, we give you a short overview of our most recommended payroll software. Read on to learn which software is best for your business.
1. Gusto
Gusto is a full-service cloud-based payroll software designed for businesses with growing teams. It can help you manage payroll as well as hire, insure, and support your employees on one platform. On top of that, Gusto works well for companies with growing remote teams that need advanced compensation tools and resource management features.
Key Features
- Payroll Entry and Tax Filing
- Benefits Management
- Compensation Management
- Applicant Tracking
- 401(k) Tracking
Pricing:
Gusto has three available pricing plans for businesses: Simple, Plus, and Premium. Gusto Simple includes automatic payroll features and benefit integrations at $40 per month plus $6/month per person.
Gusto Plus offers payroll benefits as well as HR tools for employers at $80 per month plus $12/month per person. Gusto Premium is their scalable plan with exclusive pricing options. It includes payroll, benefits, expert HR, and support features.
Ratings:
- G2: 4.7 out of 5 stars
- Capterra: 4.2 out of 5 stars
2. Quickbooks Online
Quickbooks is a powerful financial management tool and payroll software that can help you manage invoices, expenses, and inventory in one platform. With QuickBooks, you can organize every accounting task in one platform whilst keeping your information safe and secure at all times.
Key Features
- Create Custom Invoices and Quotes
- Expense Organization
- Tax Management
- Inventory Management
- Insights and Reports
Pricing:
Quickbooks has three available pricing plans for businesses: Simple Start, Essentials, and Plus. Quickbooks Simple Start is a plan for one user + an accountant. It’s best for small businesses and self-employed professionals at $8.50 per month.
Quickbooks Essentials is a plan for three users + an accountant. It’s best for growing businesses at $13 per month. Quickbooks Plus is a plan for five users + an accountant. It’s best for established businesses at $18 per month. All plans include a free 30-day trial.
Ratings:
- G2: 4.0 out of 5 stars
- Capterra: 4.3 out of 5 stars
3. BambooHR
Bamboo HR helps organizations manage their payroll, tax, and benefits information. BambooHR is best for small and medium-sized businesses with growing teams and plenty of HR data to analyze. With BambooHR, you’ll be able to stay on top of your HR activities and gain insights for better decision-making.
Key Features
- Payroll, Benefits, and Time Tracking
- People Data and Analytics
- Applicant Tracking and Hiring Tools
- Onboarding and Off-boarding Management
- Performance Management
Pricing:
Bamboo HR has two available pricing plans for businesses: Essentials and Advantage. Bamboo HR Essentials plan includes payroll and benefits tracking, reporting, document storage, and basic HR tools for $4.95 per month.
Bamboo HR Advantage plan includes everything in the Essentials plan plus advanced features such as Applicant Tracking System, custom alerts, and permission and access features. It starts at $8.25 per month. Anyone is eligible for a free trial after signing up.
Ratings:
- G2: 4.5 out of 5 stars
- Capterra: 4.6 out of 5 stars
4. Rippling
Rippling is an automated payroll software offering flexible and fast payment processing for contractors and employees. This advanced payroll software also offers several integration options. Rippling is also one of the best HR tools that bring HR, Payroll, and IT into one single platform.
Key Features
- Payroll, Benefits, and Attendance Tracking
- Custom Workflow, Alerts, and Reports
- Talent Management
- Employee Surveys
- Employee Training
Pricing:
The standard price for Rippling starts at $8 per month, per user. All Rippling products can be purchased separately which means you can create the best suitable plan for you.
Ratings:
- G2: 4.8 out of 5 stars
- Capterra: 4.9 out of 5 stars
5. Paychex Flex
Paychex Flex is a payroll solution designed to meet the growing HR needs of businesses. Founded in 1971 by B. Thoms Golisano, Paychex Flex is currently one of the oldest HR companies and payroll services still operating. Aside from big and small enterprises, Paychex Flex is also suitable for companies providing outsourcing services.
Key Features
- Payroll Services
- Hiring, Employee Boarding, and PEO
- Employee Benefits and Retirement Services
- Time and Attendance
- Business Insurance
Pricing:
Paychex Flex has four available pricing plans for businesses: Essentials, Flex Select, Flex Pro, and Flex Enterprise. Essentials is the standard plan which costs $39 per month plus $5 per person. All other plans have custom pricing and can be planned based on your business needs. Paychex Flex also offers a free demo.
Ratings:
- G2: 4.2 out of 5 stars
- Capterra: 4.1 out of 5 stars
6. Run Powered by ADP
ADP is currently the world’s largest payroll service with more than 1 million business clients. ADP is a cloud-based HCM solution designed for small and medium enterprises. They offer several services such as HR, employee management, and tax filing.
Key Features
- Payroll, Benefits, and Time Tracking
- HR Services and PEO
- Integrations and App Marketplace
- Recruiting and Talent Management
- Compliance Services
Pricing:
The software price starts at $59 per month plus $4 per employee. You can also get a specific pricing quote by answering the form on the company’s website.
Ratings:
- G2: 4.6 out of 5 stars
- Capterra: 4.5 out of 5 stars
7. Patriot Payroll
Patriot is a cost-effective and intuitive payroll software designed for businesses with custom payroll periods. It’s suitable for companies with diverse teams with hourly, salaried, and contractual employees.
Key Features
- Payroll Reporting
- Vacation/Leave Tracking
- Self Service Portal
- Tax Compliance
- 401(k) Tracking
Pricing:
Patriot Payroll has two available pricing plans for businesses: Basic Payroll and Full-Service.
The basic plan includes free setup support, direct deposit, and employee portals for $17 per month. Patriot Payroll’s full-service plan includes everything in the basic plan plus advanced features such as federal, state, and local tax filing. It starts at $37per month. Anyone can request a free demo.
Ratings:
- G2: 4.8 out of 5 stars
- Capterra: 4.8 out of 5 stars
8. OnPay
OnPay is a versatile cloud-based payroll service offering tons of amazing HR features. With OnPay, you can easily pay employees’ compensations and bonuses. It could be insurance, retirement plans, paid time off, or commuter benefits.
Key Features
- Payroll and Automated Taxes
- Onboarding and Employee Management
- Benefits Management
- 401(k) Retirement
Pricing:
OnPay has a standard fee of $40 + $6 per employee per month. They also offer a first-month free deal for all new users.
Ratings:
- G2: 4.8 out of 5 stars
- Capterra: 4.8 out of 5 stars
9. Namely
Namely is another cloud-based payroll software designed for streamlining employee salaries, taxes, and benefits in one single platform. The software is designed for small to medium-sized businesses that need assistance in employee management and accurate payroll processing.
Key Features
- Enhanced Payroll Services
- Employee Engagement
- HR Technology
- Compliance Tools
- Benefits Strategy
Pricing:
Namely’s basic service plan is $12 per month per employee. Add-ons such as payroll and HR tools come at their own price. There are also other costs included such as employee implementation fees.
Ratings:
- G2: 3.9 out of 5 stars
- Capterra: 4.2 out of 5 stars
10. Square
Square is a full-service payroll software built for small businesses. With Square, companies can handle employee pay, tax, and benefits such as health and life insurance. It’s also equipped with helpful accounting tools that can track employee compensation, back pay compensation, and more throughout the year.
Key Features
- Payroll Reporting
- Benefits Management
- Automated Tax
- Direct Deposit or Manual Check
- Time Tracking and Shift Scheduling
Pricing:
Square’s service plan is available in two types: for contractors only and employees and contractors.
The contractor's only price is $5 per contractor per month with 0 monthly subscription fee. While the plan for employees and contractors is at $35 per month plus $5 per employee/contractor per month. Square offers a free trial.
Ratings:
- G2: 4.6 out of 5 stars
- Capterra: 4.7 out of 5 stars
11. Zenefits
Zenefits is a full-fledged payroll system with advanced features for small one-man shops to huge businesses. If you’re looking for payroll software that can automatically sync every data with the rest of your HR processes, Zenefits is the best choice.
Key Features
- Advanced Payroll and Scheduling
- Benefits Management
- Compliance Tools
- Employee Onboarding
Pricing:
Zenefits has three available pricing plans for businesses: Essentials, Growth, and Zen. Zenefits Essentials plan includes automated onboarding, time off tracking and scheduling, employee management, and basic HR tools for $10 per month per employee.
Zenefits Growth plan includes everything in the Essentials plan plus advanced features such as compensation and performance management. It starts at $18 per month per employee. Zenefit’s Zen plan includes everything from the Growth plan plus important features such as People Hub and Employee Engagement Surveys.
You can also enhance these base plans with add-ons such as payroll, advisory services, and benefits admin using a broker.
Ratings:
- G2: 4.0 out of 5 stars
- Capterra: 4.2 out of 5 stars
12. Paycor
Paycor is an HR and Payroll software built to simplify payroll management. It’s designed for medium and small-sized businesses. With Paycor, you can modernize all your HR processes. You can also sleep peacefully knowing that all your employees are paid accurately and on time.
Key Features
- Advanced Payroll and Scheduling
- Reporting
- Direct Deposit
- Tax Compliance
- Employee Self-Service
Pricing:
Paycor has four available pricing plans for businesses: Basic, Essentials, Complete, and HCM. Paycor Basic plan includes automated payroll, tax filing, mobile app, and employee self-service portals for 99 per month plus $5 per employee per month.
Paycor’s Essential plan includes everything in the Basic plan plus advanced features such as compliance management, onboarding support, and compensation coverage. It starts at $149 per month plus $6 per employee. Paycor’s Complete and HCM plans are both priced at $199 per month plus $7 per employee per month in Complete Plan and $12 per employee per month for the HCM plan.
The complete plan includes everything from the Essential plan plus important features such as analytics, retirement benefits, automatic wage garnishments, etc. While the HCM has all the other plans from Basic, Essentials, and Complete, plus document management, alerts, performance reviews, and goal-tracking tools
Ratings:
- G2: 4.1 out of 5 stars
- Capterra: 4.4 out of 5 stars
13. Workful
Workful is a cloud-based payroll solution for automating various HR processes, including payroll reporting, tax filing, direct deposit, and time tracking. Workful offers a centralized hub for storing payroll data, including expenses, reports, and company guidelines.
Key Features
- Employee Management
- Automated Payroll
- Vacation/Leave Tracking
- Tax Compliance
Pricing:
Workful’s pricing plan starts at $5 per month per employee. There is no free trial available.
Ratings:
- G2: 5.0 out of 5 stars
- Capterra: 5.0 out of 5 stars
14. Hourly
Hourly is a full-service payroll system providing reliable employee payment solutions and accurate filing and sending of payroll taxes. The software includes additional helpful features such as time and attendance tracking.
Key Features
- Payroll and Taxes
- Time Tracking
- Tax Compliance
- Direct Deposit and Paper Checks
Pricing:
Hourly has three available pricing plans: Time Tracking, Payroll, and Time Tracking + Payroll. Time-tracking only plan starts at $8 per month per employee plus a $40 per month base fee. The Payroll plan is at $10 per month per user with a $60 per month base fee. The Time Tracking + Payroll plan is at $14 per month per user with an $80 per month base fee.
Ratings:
- G2: 4.9 out of 5 stars
- Capterra: 4.9 out of 5 stars
15. SurePayroll
SurePayroll is a simple yet powerful payroll software designed for small businesses. Aside from streamlining the payroll process, it also has features that can improve employee management and pre-employment screening.
Key Features
- Payroll Management
- Benefits Management
- Employee Portal and Database
- Time and Attendance Tracking
Pricing:
SurePayroll’s pricing plans start at $19 per month plus $4 per employee. They offer a 2-month free trial for customers.
Ratings:
- G2: 4.3 out of 5 stars
- Capterra: 4.1 out of 5 stars
How to Choose the Right Payroll Software for Your Business
Choosing the right HR and payroll solution is critical to your business's future, regardless of industry or size. The payroll solutions listed above are some of our highly recommended and promising companies this year. However, with so many choices for payroll solutions, it can be overwhelming to decide which one to use.
If you're still confused about which software to pick for your business. Here's a simple step-by-step guide that you can follow:
- Understand your business needs.
- List the best features of leading payroll software.
- Please consult with your team about the solution they need.
- Choose software with solid security and privacy features
- Consider your budget
- Test the software and make your final decision
Help Your Business Grow With Payroll Software
Your business's top priorities should be finding feature-rich, intuitive, and advanced payroll software. All the payroll software providers mentioned above possess the necessary features to fulfill your payroll needs. You just need to pick the system that fits your business the most. Good luck!
