2020 Reviews of Professional Payroll Systems

Processing payroll is not for the faint of heart. Missed hours, irate employees, incorrect vacation time, if you process payroll, you’ve likely heard it all. However, the importance of payroll cannot be overstated. Your employees are willing to overlook a lot of things, but not getting paid on time is not one of them, and as important as it is to pay your employees on time, it’s just as important to pay them correctly. And payroll managers, tasked with getting all the necessary payroll details entered correctly have no time to answer questions or correct errors. That’s why it’s so important to get payroll right the first time.

Like everything else, payroll processing has changed. Years ago, payroll services were mainly used by larger companies, and affordable options were not readily available for smaller businesses. But the products on the market today are suitable for businesses of all sizes, with many designed specifically for smaller businesses.

Today, payroll departments are responsible for paying employees and contractors, managing state and federal deductions, managing payroll taxes, and processing other deductions such as health and life insurance, retirement plan and company matching contributions, HSA deductions, and even payroll garnishments, when they’re necessary. Payroll departments also need to track employee sick and vacation time, and if there’s anything that employees pay attention to, it’s their sick and vacation time. Payroll personnel are also tasked with ensuring the labor laws are being abided by and that employees are being paid according to state and federal labor statutes.

Luckily, there are payroll service providers available that have made it easier than ever for businesses of any size to process payroll. In this issue, we’ve looked at 12 of them. They vary in capability, with some designed solely for smaller businesses, while others are a good fit for accounting firms processing payroll for their clients.

The products included in this review are:

There’s also a handy chart that provides a quick list of features and functions found in each of the reviewed applications, with the chart serving as a handy guide to locating the product or products that include the features that you’re looking for.

While some of these payroll applications offer a demo, it’s not really possible to try out a payroll application without doing a lot of upfront work in the process. And even if a demo is available, you’ll still need to obtain information such as payroll funding dates and tax remittance dates directly with the vendor, as these can vary tremendously between payroll software and service providers.

Whether you’re looking for a payroll service provider for your client to use, or looking to use one yourself in order to offer payroll services to your clients, the payroll reviews in this issue provide you with all of the details you need to make an informed decision that suits your needs.

—–

In addition to the 12 payroll applications reviewed in this issue of CPA Practice Advisor, there are five additional applications we’d like to mention.

These five programs offer a robust payroll module within their core application and are a perfect fit if you’re already using the application in your business or your practice. If you use one of these applications and are in the market for payroll software, it makes sense to start with the product you’re already using.

CenterPoint Accounting – Payroll
CYMA – Payroll
Cougar Mountain Denali – Payroll
Thomson Accounting CS – Payroll
Wolters Kluwer Tax & Accounting – Payroll

Payroll

2020 Reviews of Professional Payroll Systems

See inside October 2020

Tax Changes Shake Up SALT Deductions

Does Your Firm Have a Clear Communication Vision?