Payroll Service Options for Your Small Business

Posted by Patty Carr on 5/19/20 8:30 AM

Payroll Service Options for Your Small Business

3 MIN READ

A wise person once said, “Outsource your payroll.” We don’t know who exactly that wise person was, but here at FA Bean Counters, we believe that using a payroll service is a very wise move.

Payroll services are incredibly popular with today’s business owners, and for good reason. They make the payroll process efficient and easy. These services can handle every aspect of payroll, including collecting wages and hours worked, handling tax withholdings and deductions, and making direct deposit. The best part about payroll services is that they take care of report filing—on time!

There are a lot of payroll service providers to choose from. Below, we review a few different options so you can choose a service that meets your company’s exact needs.

 

Best for

Pros

Cons

Base Price

Gusto

Small Businesses

Fun, easy-to-use platform

May outgrow services as company size increases 

$19/month + $6/employee

(for first six months)

QuickBooks

Small/MediumSized Businesses

Works seamlessly with QuickBooks

Inconsistent Customer Service

$13.50/month +$6/employee

(for first three months)

ADP

Small, Medium and Large Sized Businesses

Customizable service plans that change as company grows

Higher Cost

Must Request Quote

Paychex

Tailored to Various Sized Businesses

Comprehensive Reporting and analytic tools

Cheaper plans do not include essential services (ie. worker’s comp calculation)

Must Request Quote

Gusto

Gusto’s intuitive, comprehensive software lets you run payroll in minutes and automate payroll tax filing. It also offers a full range of workers’ comp, benefits, and PTO assistance, and it pairs easily with QuickBooks and other accounting software. In light of the COVID-19 crisis, Gusto is offering a 50% discount for the first six months of your subscription.

Why we like it:

  • Provides excellent value for the money
  • Fun, intuitive and easy-to-use platform
  • Straightforward integration with a wide range of popular accounting software, like QuickBooks
  • Clear and transparent cost and pricing policies
  • Strong customer service

QuickBooks Payroll

QuickBooks Payroll is best for businesses that are currently using QuickBooks accounting software. It connects with QuickBooks very easily and can be a comfortable option for QuickBooks users. QuickBooks Payroll is currently offering a 70% discount for the first three months of service.

Why we like it:

  • Ease of use and set-up
  • Fast direct deposit processing
  • Direct integration with QuickBooks 

ADP

ADP is the biggest payroll brand in the US. It offers complete payroll services to businesses of all sizes. Small business clients can choose from multiple pre-packaged plans, and as your company grows, you can create a customized plan to meet your exact needs. Their flexibility is a big part of the reason ADP has carved out such a dominant position in the industry. ADP is currently offering two months of free service to new small businesses.

Why we like it:

  • Reliable and efficient service
  • Customizable service plans that can change as your company grows
  • A complete suite of human resources support services
  • Excellent payroll reporting tools

Paychex

Paychex breaks down its payroll solutions by business size and seamlessly combines payroll and HR. If your business is big enough for a dedicated payroll specialist and full HR support, Paychex might work for you.

Paychex recognizes that payroll solutions for micro-businesses are different from those for businesses with over a thousand employees. That’s why they tailor their payroll plans by business size. They offer solutions for 1 to 9 employees, 10 to 49 employees, and 50 to 1,000+ employees.

Every plan includes payroll processing and payroll tax help, and most plans include some HR basics too:

  • Benefits administration
  • Retirement management
  • Health insurance
  • Time tracking

Why we like it:

  • 24/7 phone and chat support services
  • Comprehensive reporting and analytics tools
  • Excellent accounting software integration and supports mobile users
  • Industry-leading security

And there you have it! Each of the payroll services reviewed here has its pros and cons; it's up to you to determine which service is the best fit for your business.


Patty CarrAbout the Author
Patty Carr is an account specialist (aka Bean Counter) with FABC.  She owned and operated a successful restaurant in Bozeman, Montana, selling it after 20 years of business.  Patty's goal—in addition to keeping excellent books, of course—is to make a personal connection with her clients, and ultimately to make bookkeeping "cool."

 

Tags: financial advisors, Financial Planning Firm, Financial Planning, bookkeeping, FA Bean Counters, small business accounting, small business bookkeeping, quickbooks, payroll service provider, gusto

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