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Did you know that one in three small business owners is penalized by the IRS for accounting errors?
These fees and fines add up. When you add the extra time and energy to figure out the complicated payroll system, it suddenly doesn't seem like a good place to cut costs. Because of this, many small business owners pay for a payroll instead. That way, you don't have to worry about errors in law, typographical errors or wasting time.
Here are five of the best small business billing options:
1. Intuit Payroll
Looking for barebones when it comes to payroll? Or would you prefer a fully automated payroll service that is just the sink instead? Regardless of where you fall on that spectrum, Intuit Payroll has an option for you.
Intuit Basic for $ 20 per month plus $ 2 per employee per month runs your payroll instantly and calculates your taxes (but doesn't go as far as to file those taxes for you). Their most popular package is called Enhanced ($ 31.20 / month) and it compliments the filling out, filing and paying of tax forms. Finally, the full-service option will fully run payroll, transfer data from other payroll services and guarantee its accuracy – for just $ 79 / month.
Depending on how much time and energy you spend on payroll, any of these plans can help. And if you need other HR services, Intuit can also provide assistance with employee compensation and regulatory compliance. There's a reason they were eventually voted America's premier payroll service.
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OnPay doesn't have all of the tools and add-ons that Intuit offers. In return, OnPay offers a simple pricing model with the simple payroll requirements that small businesses in particular need.
For $ 47.95 per month, get unlimited payroll, tax returns, and deposits for up to 10 employees in one state (with additional states added) and check printing. It's a simple, fast, and mobile-friendly system that doesn't require a steep learning curve.
If you need a payroll service that can handle larger companies, OnPay can still manage it – for $ 1 per month for each additional employee starting with your eleventh. The direct deposit feature costs an additional $ 8 per month.
Gusto, formerly known as ZenPayroll, is an intuitive payroll service for any type of small business.
Not only will Gusto automatically file and integrate your local, state, and federal taxes with your accounting software, but it will also give your employees access to their information, paystubs and W-2s – even after they leave your company. This means less data entry for you, more convenience for them, and easier time for everyone.
PC Magazine named Gusto their preferred payroll service for a reason: At the end of the month-long free trial, Gusto costs just $ 39 per month plus $ 6 per month per employee. This includes benefit planning, direct deposit and check services, and much more.
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What does “HR for Humans” look like? Just ask: One of the greatest new recruiting services ever.
While the price is unknown, it does offer a full suite of payroll and HR tools to help you reduce wasted time. It automatically makes performance deductions, pays and archives all of your payroll taxes, takes care of year-end reporting and time tracking, makes sure your small business is compliant, and gives employees access to their paychecks.
In addition to payroll, Namely can also assist with a range of employee benefits such as health insurance, life and disability insurance, wellness programs, commuter benefits, and other less traditional plans. Plus, they'll help you set up and manage everything from document signature integration to performance reports.
If you are looking for a modern, comprehensive HR service, not just a payroll tool, then Namely might be the one for your small business.
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Sage goes one step further with Sage Payroll HCM, a cloud-based app that enables small and medium-sized businesses to manage much more than just payroll. It is a central hub for the HR department that organizes and simplifies the process of hiring, engaging and retaining employees.
The career job portal enables companies to manage all job postings on a single page and has a number of integrations that allow you to publish open job descriptions on different websites at the same time. From there, you can easily search for resumes and manage applicants as they navigate the hiring process.
When it comes to onboarding, the service gives employees access to your company's policy manuals, facility diagrams, training videos, and more. Sage Payroll HCM comes standard with more than 20 standard reports ranging from order request details to EEO-1 and other compliance reports. There is no limit to the number of users who can access the system.
Pick the payroll service that suits your business needs and don't be afraid to quit if you've made a mistake and want something different. It can also be helpful to keep your own payroll for posterity or in case something goes wrong.