Small business owners spend up to five hours per pay period on payroll. That could be more than 10 percent of your week, every week.
Luckily, having the right HR payroll software in your corner can make this business task a breeze. As a new business, though, you might not think you can afford a software solution for your payroll.
There are many affordable options for new businesses, and all of them offer great options. This guide will help you discover some of the choices you have.
Online Payroll Solutions for Small Businesses
One of the best options you have as a small business owner is online payroll software. These solutions are often quite affordable for small businesses. Better yet, they can scale with you.
How does an online payroll solution work? Generally speaking, you’ll get access to an online platform where you can enter your payroll data. The system then generates pay stubs and reports.
You may even be able to access a pay stub template free with one of these generators. That way, you won’t need to worry about design or what information you need to include.
The platform also includes built-in calculators that are automatically updated. You’ll need to enter data about where your business is located. The calculators will make adjustments for payroll taxes and more.
What’s the cost of these solutions? You may be able to find some free solutions or free trials. Many charge a low fee per pay stub, so your costs are always geared to how many employees you have.
Accounting Software for Payroll
Sometimes, payroll is easier to complete when it’s rolled in with your accounting. For that reason, you may want a solution that works with the bookkeeping software you already use.
An example is Quickbooks. Many bookkeepers and small business owners use this software already. With your accounting information in hand, using the payroll software is easier.
Quickbooks boasts features like W-2 filing, direct deposit, and more.
HR Payroll Software Solutions
Some of the best payroll software are actually human resources platforms. These programs are more expansive in scope, meaning they do more than just help you with payroll. Examples include solutions like Gusto and Zenefits.
Some of the best options include access to benefits, onboarding, and hiring activities. You may be able to manage a wide range of HR tasks from within the platform.
This option is best if you need more help in your HR department but you don’t want to hire an HR specialist. The software can help you manage everything in one convenient place.
Since this solution does more, it will also cost you a bit more. New businesses may want to stick with the more affordable online payroll software solutions instead.
Are There Free Options?
You may be able to find a few options for free payroll software if you have under a certain number of employees. Some companies offer free software if you have less than 25 people on payroll.
You can also make use of free trials to discover the best HR or payroll software for your business. Some offer just 30 days, while others are free until you need to run payroll.
Find the Right Fit
There’s no shortage of HR payroll software options out there for new businesses. Whether you’re looking for a free solution or something that’s user-friendly, there’s a software solution for you.
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