11 Best Payroll Software Solutions For Small Businesses

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Last Updated on January 9, 2024 by Umer Malik

Once you feed all the data into the software, you don’t need to pore over books and manually tally the numbers. A small business doesn’t always have the means to hire employees for every role. Inventory and order management – Take control of inventory and order management from ordering to replenishment.

Xero lets you get financial performance reports sent straight to you and connect your bank account for a seamless experience. If you need payroll services, you’ll have to use them through Xero’s partnership with Gusto. And if you value live support, you should probably look for another provider. Intuit Quickbooks might be the first resource that comes to mind when you hear the term, “small business accounting software” — and for a good reason. Beyond its first-rate suite of capabilities, the program sets itself apart with elements like receipt capture and 24/7 chat support. Accounting is built into all small businesses’ operations, but those companies often lack the means to justify hiring an accountant. So in many cases, the burden falls on them to figure that side of things out on their own — leading many to look into accounting software.

Easily Track Your Business Finances

It errs on the more expensive side of the tools on this list, but it has an impressive enough suite of features to back its prices up. If your small business is more mature than most — and you can afford to spend a little extra on your accounting software — take a look at Sage50cloud.

Of course, even the best free software won’t be your most powerful accounting software option. If you want to access state-of-the-art accounting innovations for your small business, you’ll have to pay for it. However, one concern Thomas had with FreshBooks was the lack of customization available with the software’s features. “As small business owners, you want something that will be easy to use, accessible, and can grow with you,” Thomas said. “Just because you’re a small business doesn’t mean you have to think small. You want something that can adapt and something that offers project tracking.” FreshBooks was the software of choice for Katie Thomas, CFO of Diamond J Accounting. One aspect of the software she finds particularly appealing is its bank reconciliation process.

Accounting Software For Small Businesses

As we mentioned earlier, Wave accounting is free, with no gimmicks or strings attached. With a Wave account, you get access to all Wave features and unlimited users. The only extra costs to be aware of are payroll, payment processing, and professional bookkeeping services. This easy bookkeeping software is ideal for small businesses that need to save time on sending invoices, tracking expenses, and creating proposals. If the simplicity of FreshBooks sounds appealing to you, take the software for a spin with a free trial or read our comprehensive FreshBooks review to learn more. One of Zoho’s biggest draws is its accessible, user-friendly interface.

With plans starting at $15 a month, FreshBooks is well-suited for freelancers, solopreneurs, and small-business owners alike. Reports are your reward for keeping up with your daily work and completing it correctly. Every small business accounting site comes with templates for numerous types of insightful output.

It’s not easy to pick a payroll software solution, especially in 2023, when there are hundreds of options to choose from. The solutions offered by ADP, and specifically their small-business-oriented RUN, are very similar to those offered by above mentioned Paychex – expensive but popular. This solution is for you if you prefer to send employees physical paychecks rather than direct deposit, as ADP can print, sign, and mail paychecks on your behalf. Nothing affects the length of time spent on payroll management like the application user experience. The word on the bookkeeping street is that Gusto is the most user-friendly solution available on the market right now, which makes Gusto one of the front-runners in the category.

What Is The Best Accounting Software For Small Businesses?

Even more, some will cap the number of customers you can invoice and the amount of invoices you can send per month. If your small business typically exceeds these caps, then an upgrade is a must. Otherwise, free accounting software that doesn’t meet your needs isn’t worth the time. The best applications suggest potential matches as you reconcile your accounts, and a few include a reconciliation tool in their mobile apps. Plooto is a good choice for small businesses that need an affordable way to enhance their accounts payable and accounts receivable and save time. It also stands out for its automation and integrations with QuickBooks and Xero, making it great accounting software for business owners who work with those accounting plans.

Learn more about how you can improve payment processing at your business today. It makes everything easy for you to understand, even if you’re not an accountant.

Best Accounting Software For Startups

FreshBooks is popular among small to midsize businesses and freelancers. Startups and consultancies with minimal accounting needs—primarily invoicing and expense tracking—will love the ease of FreshBooks and its almost non-existent learning curve. Core accounting functions available in FreshBooks include accounts receivable and general ledger. While there is no accounts payable capability per se, there are ways to work around that. FreshBooks features an invoicing workflow from estimate to proposal to invoice. Invoices can be customized, and if time and expenses are tracked through FreshBooks, those can be set to go to the appropriate invoice.

  • You buy only the apps that fit your particular needs to arrive at a custom-made whole-business software solution.
  • OnPay can help you automate tax filings, enter payment data, and manage benefits, including compensation insurance, health insurance, and 401.
  • However, if you’re self-employed today, you have access to numerous accounting systems to help you manage your finances on your own.
  • If you have the budget, we recommend investing in paid payroll software.
  • It received ratings of 4 and up in most of our criteria given its solid pay processing tools, a wide range of HR solutions, reporting capabilities, and ease of use.
  • Your money will be ACH debited from your bank after you run payroll for the actual amount of your payroll.

The vendor provides a full-service accounting system with top-notch payroll processing features. This cloud-based platform can also be integrated with various third-party business systems, providing users with a streamlined and efficient accounting process.

Our Picks For Best Accounting Software

It even includes a feature that allows us to see the exact location a customer opened your invoice — letting you avoid those pesky “I never got it” excuses. With affordable plans to accommodate businesses of virtually every size, it’s definitely worth considering. Adminsoft Accounts will fit the bill if you need a small business accounting package that can also cover a raft of other common administration tasks. So, alongside bookkeeping, you can tackle invoicing, budgeting, and other SMB-focused chores. The fact that the UK-based company has built-in functionality that allows it to work with other currencies makes it popular in a variety of territories. This free accounting software is a portable app, so you can save and use it straight from a USB stick without even needing to install it.

You’re probably familiar with Square’s point-of-sale product, but it also offers a payroll service. If you only pay contractors, Square Payroll has a plan that’s $5 per contractor per month. If you have full-time employees, the plan costs $35 per month plus $5 per person per month. The reason OnPay may be a good fit for your business if you’re paying contractors or part-time employees is that payroll does not run automatically. You have to select the employees you want to pay and then enter their hours or wages before you can run the payroll. You can also run payroll quickly and easily, either from your phone or from a computer, thanks to the fact that it’s a cloud-based service. If you’re interested in testing out some accounting software options that aren’t free, we suggest you read reviews of the free-trial options we listed above.

The best online accounting software for a small business offers useful tools like invoicing, bill payment, payroll, and financial reporting. Many even offer tools for project management and time tracking. Patriot Payroll offers three full-service payroll options, wherein one comes with basic HR/employee information software and another with both HR and time tracking solutions. Retail pricing starts at $30 per month plus $4 per employee, and you have to pay extra for multi-state filings ($12 monthly for each additional state). Its accounting and time and attendance solutions are also available as paid add-ons, costing $25 per month and $6 plus $2 per employee monthly, respectively.

All things considered, it’s one of the best payroll software for small business owners. Apart from a base price of $19/month, the plan costs an additional $6/month/person. From automatically filing federal and local taxes to tracking time and benefits deductions, there’s hardly anything that Gusto’s payroll solution can’t do as far as compliant processing is concerned. Its fully self-service payroll software integrates easily with your HR ecosystem, immediately providing you with access to some of the most advanced features.

With up to 25 users, its most expensive plan suits bigger businesses with large, collaborative accounting teams. You can set up Kashoo in 60 or so seconds, and the app immediately starts to categorize your expenses and learn your business spending habits. Like Zoho Books, Kashoo’s automation is its selling point—and unlike Zoho Books, it syncs with SurePayroll, one of our top payroll providers. However, Kashoo’s simplicity makes it ill-suited to larger businesses that need more features and functions than Kashoo’s straightforward software can provide.

  • Melio is excellent as a stand-alone program, but its integration with QuickBooks makes it even more impressive.
  • For instance, if running payroll yourself seems like a daunting task, you should definitely opt for software that offers complete automation.
  • Sage 50cloud is an ideal solution for both small and medium-sized businesses.
  • What’s more, is that you can set up a policy and provide compensation automatically.
  • FreshBooks was started as a way to produce great-looking, professional invoices.
  • Charlette has over 10 years of experience in accounting and finance and 2 years of partnering with HR leaders on freelance projects.

In addition, some users are happy with the broad pre-defined set of fields and variables in the application database, and others despise the complex and long employee registration process. We’re not telling you this to provide you with a wishy-washy review that’s neither here nor there. Payroll software has to be flexible, and SurePayroll demonstrates their ability to be flexible through their user experience, which is a sign of a good payroll solution.

This system is designed to meet the requirements of small businesses regardless of the type of business or industry. Learn how thousands of businesses like yours are using Sage solutions to enhance productivity, save time, and drive revenue growth. Advanced financial management platform for professionals with a growing business. Good software will make it as simple as possible by linking to your accounts and retrieving all the necessary information at once. Then all you need to do is check it and submit it – usually online. Sometimes that’s due to new legislation affecting their income tax band.

Growth – includes all features of the Essential plan, along with compensation and performance management capabilities. Unlike most modern payroll software that are only suitable for either small businesses or large enterprises, Zenefits is a promising choice for all businesses. Zenefits is human capital management software with a wide range of capabilities, including benefits administration, basic HR functions, and of course, payroll management. Zenefits offers unlimited payroll runs, which you can perform from around the world, thanks to its lightning-fast mobile app. Whether you’re a small business owner or the head of human resources at a large enterprise, you’d agree that manually processing payroll is time-consuming and risky.

Balance sheets can be used to analyze performance and track sales, and reporting can be simplified based on presentation requirements. You can save a lot of time with features that automatically manage recurring bills, invoices, and notifications to remind you of paid and unpaid items. One of its draws is that its software is priced in a flexible and reasonable manner. It comes in two packages—Basic Payroll and Full-Service Payroll—which can scale to how many employees are on your payroll ($4 per employee). The connectivity and integration capabilities of Zoho apps mean you can get one Zoho solution and beef it up with another one. Create quotes and proposals, then convert them to sales orders and invoices with a click. Perhaps among the unique functionalities of this platform is that Rippling comes with a built-in document management system.

Accounting, project management, estimating, and service management. These are costs that are incurred by your employees but chargeable to your business. Make sure your employees are best accounting and payroll software for small businesses reimbursed as quickly as possible – this saves any potential stress. So in this guide, we’ll take a broader look at payroll to give you a better idea of what your employees require.

Read more: Top 6 Free Payroll Calculators