Top 5 Payroll Software You Should Never Miss

Elise Williams

2024-09-27 19:04:05 • Filed to: Software for Business • Proven solutions

For any small business, employees who are motivated and satisfied at work enable your business to grow and function at its best. One of the ways to ensure your employees stay motivated is by ensuring they are paid on time, which is where payroll accounting software comes in.

Payroll software enables your business to process salaries, tax, general deductions, and other items for your employees. In this article, we examine 6 of the most popular payroll software for accountants.

5 Best Payroll Accounting Software

1. Paychex

Paychex is a multiplatform accounting and payroll software application that has been on the market for decades. With a client base of over 600,000 and growing, Paychex is trusted by small businesses and medium-sized enterprises to handle tax calculations and deductions for business within different industries.

Paychex allows you to pay your employees via direct deposits, set up workers' insurance, print payroll reports, and even allows you to print and send employees physical checks if they prefer. This payroll accounting software also gives you 24/7 customer support.

On the downside, users have complained about their outdated web interface, which is usually slow at times. Paychex has also had problems with their tax and billing modules.

2. Gusto

Gusto is a nifty payroll software that bundles multiple features on a simple and user-friendly platform. Like Paychex, it enables users to manage 1099s and W2s, manage taxes, pay employees via direct deposit, and set up workers' insurance from within the application – for a fraction of the cost imposed by Paychex. This payroll accounting software can even help you set up health insurance and retirement funds for your employees.

Gusto's customer support is also one of the most helpful, despite the fact that they are only available during working hours (8 am – 5 pm).

Unlike Paychex, however, you can't send out checks to your employees directly. You will have to print them and send them over to your staff.

3. Zenefits

Zenefits is an innovative accounting and payroll software program that has become quite popular with small and medium enterprises over the past few years. Zenefits handles most payroll tasks accurately and with the least number of errors for payroll software programs in its class.

It offers full automation for many of the accounting tasks within a business, including payment runs and tax filing. Taxes are filed, and employees are paid according to the entries defined within an automated payroll schedule. Plus, with a payroll timeline, you can easily get historical reports for anything ranging from employee-specific salary payments to overall wage trends for your business.

Zenefits, however, lacks many of the add-ons that come with other payroll accounting software.

4. Marg ERP 9+ Payroll Software

Marg ERP is a fully-featured accounting and HR management software that gives you full control over payroll and other aspects of your business. Marg ERP also incorporates different functions for managing accounts payable and receivable, making it one of the most versatile accounts payable software applications.

This payroll software features the payroll module under its Employee Payroll Management System (EPMS) that enables business owners to calculate salaries quickly according to preset monthly or daily payment schedules. It enables you to generate monthly salary reports that indicate taxes, arrears, overtime, and other aspects of payroll.

Marg ERP is quite pricey compared to other payroll software programs, which can put off small businesses.

5. ADP

ADP is a payroll software application that also works perfectly as an account payable software application. It basically enables small and medium enterprises to run payroll (online), pays employees via direct deposit or physically via check, calculate and pay taxes automatically, manage new HR hires, manage insurance, and print payroll reports on a monthly basis.

ADP also enables your business to stay ahead of any legal requirements regarding labor laws by sending periodic updates via posters. They also have one of the biggest customer support departments for any payroll accounting software company.

However, ADP's customer support department has often been dogged by underperformance issues. It is also one of the most expensive, with its 10-user license going for $2098 annually.