Are you running a business? Yes!!! Then what could be the challenging task for you? It’s payroll process right.
It’s no secret payroll mistakes happens faster than anything. Consider, think about your employees, they wait for a salary to pay their bills. Imagine what if you don’t process the monthly salaries on time, it’s a kind of heard breaking moment for your employees. Such irregularities activities during the payroll can make the employees depressed and frustrated. When the employees feel depressed in the workplace, ultimately that gets affected on business productivity.
What is payroll?
A payroll is a group of employees and managers who get paid by organization. It is referred to like a certain amount of money that is paid for an employee by the employer. As a company function, it includes:
- Developing business pay policies that can include benefits, leave encashment policy and more.
- Defining specific payslip factors such as basic, HRA, etc.
- Gathering external payroll inputs.
- Releasing salaries for every employee
On the other hand, adhering to different laws and regulations like PF, ESI, labour law, etc are also important.
Payroll processing is a tedious aspect to manage businesses. As per the survey, 30% of small business in the US spend more than 6 hours every month to complete their payroll process.
Thanks to today’s digital world!!! There are various payroll tools are available online to make the payroll calculations and allocations easy. Besides, it’s important to choose the best payroll tool that meets your business goals and requirements.
What is payroll software?
Payroll is a buzz term in the business world. Payroll software is defined as a tool that helps business owners in calculating and depositing salary to their respective accounts. The tool is integrated with various modules like accounting, CRM services and more.
Following are the popular payroll software tool for small, medium and large businesses.
Marg
Marg is well-known as “The Business Backbone”.
Are you looking for easy-to-use payroll tool, then Marg is the best platform for you. Also, Marg provides an outstanding user experience for end-users.
This tool is capable to generate various MIS reports analyzing business department wise. Besides, it’s flexible to tweak your employee’s strength in multiple departments.
- HRD modules
- Shift and leave management
- MIS reports
- Structure management
- CTC management
- Bonus payments
- Employee based reports
Marg strictly understand the importance of business data, therefore it provides multiple levels of security to make sure the system is robust and efficient.
Keka HR
Keka HR is one of the leading payroll platforms that offer great experience for organizations and employees. It is referred to as employee-centric payroll software.
Unlike other traditional payroll software, Keka HR is a payroll management service that concentrates on providing better user experience and also streamlines multiple operations. Keka relies on cloud-based technology. Therefore employee and employer can manage and schedule task from anywhere and anytime.
- Leave management
- Employee onboarding and exit
- Attendance rules and tracking
- Multiple legal entities
- API access
Keka is an all-in-one payroll tool offers everything you require to manage and deposit salaries in employees account. This software provides integrated workflows to streamline every process such as leaves, attendance, bonus and more.
HRMThread
Are you looking for web-based payroll software? Then have a look at HRMThread. HRMthread is best payroll tool trusted by millions of people around the globe. By using HRMThread, one can have a better command across the payroll with enhanced time-tracking management. Besides, HRMThread manage employee leaves flexibility and track employees claim on the go. Apart from leave management, HRMThread helps to handle employee recruitment and exit formalities.
HRMThread offers fast and flexible modules for complete supervision of every payroll activities. Additionally, it provides an outstanding time tracking software for scheduling employee payslips.
GreytHR
GreytHR is the most sought-after payroll software. One can effectively manage and streamline the payroll process and ensure payroll accuracy. Also, it generates reports instantly. The payslips are generated within one click. It offers 100% statutory compliance that includes PF, PT, TDS and more.
- Payroll processing
- Statutory compliance
- Leave management
- Attendance management
- Employee lifecycle management
GreytHR capture every employee attendance in real-time. Also, it defines your business attendance policy and everyday attendance status will be sent through SMS or email. Manage your employee records on the go and within a few clicks, you can generate HR letters.
Onpay
Onpay is the best payroll software for small and medium scale businesses. This tool makes the payment process easy. You can pay employees, managers and contractors within a few simple clicks. You don’t need to worry about payroll taxes and filings, Onpay can automatically fill every detail for you.
No two organizations are same, therefore Onpay is designed in such a way that it offers complete payroll solutions in a cloud.
Maintains synchronization with existing accounts, time and leave tracking tool. Onpay offers cloud-based technology, it means you can run anywhere and anytime. Onpay offers unlimited pay process every month/year. No need to pay extra fee for tax registration, deposit and debit card transaction.
Gusto
Gusto is one-stop destinations to run payroll and support your employees. This tool makes everything easy to payroll, onboard and ensure your team.
Onboarding your team with Gusto is effective. Send offer letters to your new employees using Gusto accounts. On top of everything, you can store the new employee’s paperwork to stay organized all the time.
- Full-service payroll
- Medical and dental
- Certified HR experts
- Time tracking and PTO
- legal compliance
- Flexible customer support
Pay employees salaries on the go within few simple clicks. Gusto calculates your files and payroll taxes effectively. Everything is organized and synchronize automatically – time management, benefits and plans.
QuickBooks Pro
QuickBooks Pro is the leading payroll service. The tool offers advanced tools that you can automate the complete payroll procedure. It works more than a payroll tool. It’s the best way to manage your company payroll everything in one place.
Save your time by setting up your payroll once and that’s it. You’re done!!! Payroll taxes will be calculated automatically and paid instantly. Get real-time analysis and insights by using time tracking, as a result, you can handle every payment.
Backed by professionals. Yes, you’ve heard it right. QuickBooks Pro professional will track everything and review entire payroll setup. Experts at Quickbook have complete knowledge of the product and give a solution for your queries. On the other hand, it access a complete suite of payroll, HR and employee services that include worker’s comp, PF, ESI and other additional benefits.
Xero
Xero payroll service can make your payday amazing. This software offers a full set of service across 50 states. Yes, you’ve heard it right. Xero can simple automated payroll forms and tax payments. The best part about Xero payroll is, it offers unlimited payrolls.
- Asset management
- Project management
- Multi-currency accounting
- Projects
- Sales tax
- Xero practice manager
- Business performance dashboard
Xero is effective for multiple business types such as retail, tech, legal, hospitality, construction, e-commerce, manufacturing and real estate. Stop wasting your time, choose Xero and enjoy powerful and integrated services for every payroll need.
Patriot Software
Patriot solution is a leading payroll software helps you to simplify payroll and legal compliance processes, This outstanding payroll software contains every functionality right from tracking the employee salaries to real-time reports. Additionally, the solution helps to keep everything accurate in one centralized hub.
- Free expert support
- Time-off accruals
- Year-end tax filing
- Customizable payroll
Patriot offers two editions. First, it offers Patriot basic payroll service that is related through web-based. You can easily run all payrolls and manage taxes all by yourself. Secondly, Patriot offers advanced payroll package. Besides, it includes high standard services such as deposits, filing taxes and more. Also, Patriot can quickly run your individual payroll, then the experts will handle everything.
Paycor
Paycor is a powerful HCM – human capital management software. Also, this software is trusted by over 30,000 users across the world. In general, Paycor provides ultimate payroll services and robust HR management solutions integrated under one dashboard. The easy to use HRIS system provide with multiple human resource-related processes like recruiting, calculating, generating pay slips, tax compliance, etc.
The best part of Paycor is, you can personalize the service to fit your company requirements. On the other hand, you can easily manage payroll, legal compliance and other employee benefits.
Keeping it simple, whether you’re looking for recruiting or onboarding, Paycor is the best software for your business. Additionally, Paycor modernize every process, from recruiting new employees to building an outstanding company culture.
In general, some instance technology alone cannot help you. Don’t you agree? Yes, you require the latest technology and expert assistance is required in every process, to keep your HR activities modern.
Final Thoughts
Payroll is a daunting task for every business. Therefore, payroll software came into existence. Payroll software is an amazing tool that helps to reconstruct and automates the payroll methods, making payroll processing less time-consuming and flexible. This article provides with top 10 payroll software. Go through each and every payroll tools features and specification and start shortlisting the best one. If you want to kick-start with the best one then prefer cost-effective payroll solutions.
