The Best Payroll Companies for Small Business Owners

28 Jul, 2016 / Comments: Comments Off on The Best Payroll Companies for Small Business Owners / By

It’s crucial that your employees are paid on time each and every month, so that your business complies with the ACA, and that you properly track your attenda, PTO, etc. This task may seem a bit daunting, especially to new small business owners. However, a payroll company can aid you in streamlining these tasks by automating most of the work. This will give you peace of mind, while allowing you to free up time so you can run your business. Although some payroll companies can be quite pricey, hiring a company is usually a lot cheaper than hiring a person to do it in-house. Let’s take a look at the best payroll companies to hire as a small business.


The All-Around Best Payroll Company: Gusto

Gusto is considered the best payroll company for its affordable price, as it offers complete tax support for a cheaper cost than its competitors. Moreover, Gusto is considered one of the most intuitive programs to use, as it has many easy tools such as benefits management, as well as excellent customer service. When setting up Gusto, you’ll find everything is well-organized and explained so that it doesn’t take much time out of your day to set it up and get started. With Gusto all of the payroll taxes are filled out and paid so you don’t have to worry about filling out any forms or sending the checks yourself. Moreover, Gusto is a benefits-management platform, which means you can set-up retirement plans, transportation benefits, and workers comp insurance directly through it.


The Runner-up: Intuit

Intuit is a versatile service that offers both full service processing and do it yourself services. This payroll company makes it their mission to ensure your payroll runs smoothly and is simple to use so that your main focus is running your company. Moreover, Intuit’s customer service has been ranked as one of the best in the industry, as it contains an extensive FAQ section and even helpful videos and an active user community. You may find Intuit to be a better tool for your company than Gusto in the case that you require more extensive reporting capabilities. Additionally, you can run Intuit with Quickbooks, whereas Gusto integrates less smoothly with it. That being said, the reason why Intuit is a runner-up is that it is more expensive than Gusto.


Best Full Services Company: ADP

ADP offers a range of full services on top of their payroll processing. Their payroll system was created to allow you to manage your payroll easier and faster. This payroll company also offers retirement, insurance, and benefits administration services. You’ll find three tiers of service that cater to businesses of all sizes, which allow them to cater to your current size, while also expanding their services with your business when needed.


Best HR Outsourcing Company: IOIPay

If you are looking for more extensive services, than IOIPay may be perfect for your company. They are a full service HR outsourcing company that not only provides payroll, but also employer and human resource services. IOIPay allows you to outsource much more than your payroll needs, as they also offer tax alerts, training, forms, calculators, tax alerts, and newsletters.



Best Cloud Based: Company Fuse Workforce Management 

This company, previously known as ProPayroll, offers one of the best payroll services in the US. However, they’ve recently transformed into a fully cloud based business management software company. Fuse is still considered to be a major leader in payroll services, but now offers an extensive list of business management services that may be useful to your company.


William Mahnic
William Mahnic is a Finance Professor at Case Western University and has spent more than 20 years in the finance industry before becoming a professor. Mahnic has appeared as a commentator on both TV and radio talk shows including NPR, Crain's Cleveland Business, WKYC 3 and The Washington Post. He has been interviewed in BusinessWeek, Wall Street Journal and The Los Angeles Times.

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