14 Best Payroll Outsourcing Companies in 2024 HR University

With their comprehensive services and reliable support, they rank high on our list. By entrusting these tasks to payroll outsourcing companies, businesses can shift their attention towards more strategic activities. They can rest assured that their payroll duties are handled efficiently and accurately. Growing teams often forego traditional benefits like health insurance and the like because of the costs involved in paying for them at so small a scale. Even if the company does offer benefits, those have to be managed properly — preferably in tandem with payroll so there’s not a bunch of extra manual accounting labor. These days, just about any service of this level of importance comes with some kind of software platform.

Based on what I was able to play with in the platform, Gusto guides you through payroll and benefits management in a way that makes these processes less overwhelming. You can be sure you’re completing tasks in the right order without missing a step. The next step prompts you to enter any paid time off that employees took during the pay period. From there, Gusto lets you preview the payroll run in the third step before submitting payroll. Upon submitting, Gusto confirms that you’ve successfully submitted payroll. In my experience, setting up automations was as intuitive as possible, given the large ripple effect each automation produces.

Experience better HR and payroll

1. Paychex Flex users posting on popular ratings sites say the platform is easy to use both on the employer and employee end.
2. The product’s pricing and customer support seem to be the most common pain points affecting user satisfaction.
3. If you decide to help streamline your payroll process using payroll software, you can spend as little as $22.50 per month.
4. You want to ensure that you have a reliable professional preview your system implementation to ensure that your payroll is set up completely and in a way that positions you to grow effectively.
5. There are almost no automation options and you cannot customize the dashboard at all.
6. It also offers an OnDemand Pay option that allows you to pay employees early as needed.

On the “payroll” page, I viewed a spreadsheet of payments earned by employees. From there, I clicked “next” and was taken to a page that flagged all issues that may hinder a successful payroll run. I could click “resolve exceptions” to work out these issues before running payroll. For example, you will find a company directory on the upper right-hand corner of the software that includes a list of all employees. Simply click on a name to see all of their payroll information, such as their gross and net pay, deductions, pay period and preferred payment method.

How outsourcing payroll works

Because the system keeps up with tax laws and regulations in all 50 U.S. states, the system automatically helps you stay compliant and flags any errors that how to do payroll accounting need your attention. And, if the IRS contacts you with inquiries about your filings or payments, RUN will handle those communications for you. Gusto offers three plans for companies looking to manage payroll for both full-time employees and contractors.

Experience better expense management, today.

Nothing I experienced was particularly confusing, but some tasks were a bit more labor-intensive than I preferred. The Paychex Flex dashboard provides easy access to the product’s reports. The Gusto payroll run screen shows at a glance all payroll expenses per employee. 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.

What is a PEO payroll service?

Put simply, the brand has a lot in common with the list entries above. Business activities what is the difference between a general ledger and a general journal like running payroll are, obviously, a bit more involved and sensitive than, say, having someone run your personal mail to the post office. That said, at a fundamental level, outsourcing payroll or leveraging HR software solutions are in many ways the same as hiring someone to do your yardwork. It offers an employee portal online and through the Paycor mobile app, so employees can access pay stubs, documents, time-off requests, performance evaluations and employee development all from their phones. Some features I wish were better include its automation options, customization options and chat support. There are almost no automation options and you cannot customize the dashboard at all.

Gusto receives overall favorable reviews on popular user rating sites. Users mostly mention Gusto’s easy-to-use interface, which we can attest to, given our hands-on experience with its payroll process and its excellent customer service. If your current system causes frequent mistakes, you may want to consider outsourcing your payroll. After all, payroll mistakes can lead to high costs, wasted time, and lost productivity. It current liabilities: definition how it works and liability list may also lead to a hard time complying with the IRS or labor laws, and employees may experience frustration due to long wait times for paychecks.

Their team of experts is always ready to assist and provide the necessary guidance. Designed for small businesses, they take the burden of payroll management off your shoulders, ensuring that all tasks are executed accurately. Their customer service team is readily available to assist with any questions or issues, providing a smooth and hassle-free experience for users.