Best Payroll Software for Small Businesses
Nowadays most of the businesses use Cloud-Based applications as Payroll Service Providers. Especially small and mid-size businesses as it makes easier to Manage employees (hiring, firing, rehiring and sending offer letter etc,) Calculate wages, Processing payments (direct debit and check payments) and Filing taxes with different authorities on behalf of the company/employee.
We did a comparison among famous Payroll Softwares in 2020 to help business owners to select Best Payroll Software for 2020.
- Gusto – Best overall
- RUN Powered by ADP – Best for payroll & HR
- Paychex – Best reporting
- OnPay- Simplest setup
- SurePayroll- Best customer service
- Square Payroll- Best for contract work
- Wave Payroll- Most affordable accounting software integration
- Patriot Software- Most affordable self-service
- Wagepoint- Most user-friendly
- QuickBooks Payroll- Best interface
Gusto is a payroll software system for small businesses that makes it easy for business owners to add new hires, calculate and withhold taxes, process payroll for employees and contractors, and stay compliant. So we’ll take a look at some of the main features of Gusto and explore the system’s pros and cons.
Gusto is a great place to start if you’re looking for a payroll solution for your small business. But it’s not the only option you should consider use our product selection tool. You should evaluate all the options you ahve and depending on the requirement you should make the call.
To get started first let’s take a look at the core features offered by Gusto.
When you hire a new employee or contractor gusto makes it easy to get all the info you need from them to run payroll and stay compliant. You can send offer letters right from the system and it will file new hire reports with the IRS for you. If you are offering Health Benefits to your employees, Gusto is providing educational resources to your employees about the packages available to them and letting them select company plan from a self-service dashboard. This self-service dashboard also lets employees to submit time off requests, view pay stubs and access to important tax documents like W2 and 1099 forms. If you employ any hourly workers they can use Gusto’s time clock feature. Employees can log into their dashboard from the web portal or mobile app and clock in or out from the time clock. Also in special situations employees can add notes to time punches to let their employers know if they forgot to clock in or out relate to work.
The best part about time tracking in gusto is that it automatically sync-up with your payroll. Meaning you don’t have to manually add up every employees hours. When it’s time to run payroll, managers review the hours, approve them and send them to the payroll.
Gusto offers full-service payroll, meaning the system handles tax calculations, benefits withholding and direct deposit. You can also use Gusto to pay vendors and contractors via direct deposit. If you realize that you made a mistake when you process the payroll you can cancel payroll and make corrections before the money is withdrawn out of the company bank account.
Workers comphensation, if you don’t already have plan for workers compensation insurance, Gusto handles that too. The company partners with WC providers to provide workers compensation insurance which you can apply for through Gusto. You don’t want to pay all of your premium at once. Your premium will divided throughout the year so that you pay a fraction every time you run payroll.
Ease of use, the system does a great job of guiding you through what have historically been complicated and stressful tasks and everything is organized well to make it easy to find what you’re looking for. Even if you aren’t only paying salaried employees Gusto does a pretty good job of automating most payroll processes for salaried employees who get paid the same amount every pay cycle payroll comes down to a matter of approving payment disbursements. For hourly employees Gusto adds up their hours for you calculates taxes and prepares payment.
Smooth System Integrations, including QuickBooks TSheets, are another value added fnction we can mention an advantage of Gusto.
Slow response time seem to be the biggest complaint we can identified as a drawback. Gusto offers customer support via email, chat and phone throughout the week but at the time of publication support is not available on weekends. Support is also limited to daytime working hours on Pacific Standard Time.