6 Best Payroll Software for Accountants

Avatar

Priyanshi Khandelwal

Senior editor

Parul Saxena

Chief editor

Last updated: July 8, 2021

If there is one thing that is certain about 2020, it is that nothing about it is certain, at all. This is the year where nobody can predict the market and its future. It is also the year where businesses will have to improvise as they go. Remote working has become a mainstream reality and countries all over the world are introducing various reforms to their statutory and regulatory laws to cope with the new ‘normal’. It has become more important now than ever to adopt technology to adapt to this new environment and function seamlessly. One example of such technology is payroll software.

Looking for Payroll Software? Check out SoftwareSuggest’s list of the best payroll software solutions.

Payroll software solutions automate and simplify the payroll management process for all kinds of organizations, big and small, across various industries and locations. There are a variety of payroll software solutions available in the market that can make payroll management easy for the accounting teams of various organizations and enable them to pay salaries correctly and on time. In this article, we will talk about some of the best payroll software for accountants in 2020. 

What Should You Look For In A Payroll Software Solution For Accountants?

To choose a payroll software, from so many available solutions in the market, organizations must have a clear idea about what features the accounting team needs in the payroll software to solve the problems with their existing payroll management process. Let’s take a look at some of the things you must keep in mind as you zero in on payroll software for accountants in 2020:

  • Opt for a comprehensive payroll and accounting solution 

If you don’t already have accounting software, avoid choosing a standalone payroll solution. Nowadays, the market is flooded with software solutions that can handle both payroll management as well as accounting. If you choose a standalone payroll software solution, you will sooner or later have to invest in another accounting software to accommodate the growing needs of your business. Therefore, instead of investing in two different software solutions, buy a solution that can handle payroll as well as accounting. 

  • Look for highly integrable solutions

Seamless integrations make work easier. Not all payroll software solutions might contain all the modules you need to run your business. For example, if you want a project management system along with an HR management and accounting module, it may be difficult to get a solution that can specifically handle all three functions. Look for payroll software that will integrate your payroll software with other systems through an external communication protocol. 

This will ensure that all your software systems use a common database and there is a seamless flow of information among them. You will be able to manage various activities, such as tracking the status of various projects, monitoring the logs of your employees, and accounting for the payments received from customers, effortlessly on a single platform.

  • Pay close attention to tax reporting and remittance features

Apart from data and information management, it is extremely crucial that any payroll software you choose is able to manage all activities related to payroll taxes. Calculating employee tax deductions correctly especially when local tax laws change every so often, can be quite tedious for accounting professionals. Choose a payroll software solution that will automatically update itself with the latest tax laws and regulations and will calculate tax accordingly. 

Most payroll software solutions can also generate various statutory and compliance reports and even submit these reports to the concerned regulatory authorities for you. They can even remit tax payments to the government on behalf of the organization. 

Also read: Top 10 free/Open source Payroll software

Best Payroll Software For Accountants In 2020

1. Gusto Payroll Software

Gusto Dashboard Image

Excellent for small to medium-sized businesses, the Gusto payroll software is a great solution to round up this list. Gusto is well-established as an efficient accounting and payroll software solution in the market for the following features:

  • It can easily integrate with accounting apps such as Xero and Freshbooks
  • Transactions and statements can be easily imported
  • It handles all tax filing activities
  • It creates compliance reports, fills out statutory forms, and submits tax payments
  • It supports unlimited payroll runs

Pricing:

Gusto costs $39 per month along with an additional charge of $4 per customer or contractor. 

2. OnPay

On Pay Dashboard Image

OnPay is considered to be one of the best and highly rated payroll and accounting software solutions available today. Here are some of its best features:

  • It can take care of all activities related to tax-filing
  • It comes with an HR module
  • It is a highly integrable solution
  • They offer effective training and customer support
  • OnPay allows multiple payroll runs without any additional, hidden charges
  • The solution enables employee self-onboarding and self-service
  • It can be integrated with other time tracking services

Pricing: 

  • $36 per month + $4 per person 
  • They also offer a one-month free trial.

3. Quickbooks

QuickBooks Dashboad Image

One of the best payroll software solutions in the market, Quickbooks is considered to be the go-to tool for all accounting-related needs of an organization. Some of its standard features include:

  • It streamlines all accounting activities and processes 
  • It makes it easy to import and auto-update transactions from third-party apps
  • The system updates itself automatically
  • It offers powerful invoice generation features along with payment reminders and tracking
  • It can readily handle all tax-related transactions all year round

Pricing: 

  • The Core, Premium, and Elite plans for Quickbooks Payroll will cost you $45 per month, $75 per month, and $125 per month respectively. 
  • The Simple Start, Essentials, and Plus plans for Quickbooks Accounting will cost you $25 per month, $40 per month, and $35 per month respectively. 

They also offer a one-month free trial. 

Also, they are currently offering a limited-period offer which will give you a 50% on the monthly rates if you buy Quickbooks for three months.

4. Patriot

Patriot Software Dashboard Image

Patriot is widely considered as one of the most robust payroll and accounting software solutions available in the market today. Here are some of its features: 

  • It simplifies accounting activities to a large extent
  • It makes organizational in-flow and out-flow calculation efficient and effortless
  • It allows you to manage payroll and accounting seamlessly on a single platform
  • It enables customizable hours and deductions
  • It can integrate with your existing accounting system
  • It offers a mobile-friendly interface
  • It facilitates payments to third-party contractors along with the monthly payroll

Pricing: 

They offer a free basic trial for 30 days. The cost for the full-service payroll platform starts at $30 per month with an additional fee of $4 per customer or contractor. The basic plan starts at $10 per month along with a charge of $4 per customer or contractor.

5. SurePayroll

Sure Payroll Software

SurePayroll’s accounting software is exceptionally easy to use and install. Here are some of the amazing features you can look forward to in this software solution:

  • It can easily integrate with other software solutions to simplify payroll
  • It offers a simple preview report for gross pay, deductions, taxes
  • It automatically updates tax information for payroll and accounting
  • It prepares reports for statutory and compliance purposes
  • It can create year-end reports for the financial year

Pricing:

The pricing for SurePayroll starts from $29.99 per month with an additional charge of $4 per customer or contractor. You can also get started with a one-month free trial.

6. ADP Payroll Software

ADP Payroll Software Image

 

ADP is one of the most popular payroll software for accountants. More than 500,000 businesses use the ADP payroll software solution. ADP has some very important features such as the following:

  • It allows you to run payroll and file taxes in just a few steps
  • It enables you to convert payroll data into a general ledger and import it into the accounting software
  • Journal entries are automatically managed by the software
  • Employees can be paid by check, direct transfers or pay cards
  • The software platform is accessible on the phone and online across various devices
  • 24×7 support from ADP experts

Pricing:

There are custom pricing plans available for the software depending on the number of users and the add-on features that you choose. The pricing for 10 employees would be somewhere between $150 per month to $180 per month.

Wrapping it Up

Corporates are increasingly realizing the importance of technology in business. Payroll software solutions for accountants enable organizations to work efficiently. They enable faster calculations and reduce the scope of errors.

It’s 2020 and technology is rapidly taking over complex calculations in business. Manual labor and legacy software solutions can hold a company back from attaining great heights. To be on top of their game, businesses cannot escape modern technology anymore. Therefore, to stay ahead of the curve, invest in a payroll solution for accountants today! 

Avatar
Priyanshi is a blogger and Digital Marketing Executive at Softwaresuggest. She's obsessed with innovating new ways of creating amazing content that's absurdly useful and effective Her hobbies are playing basketball and reading books in her spare time.

Recent Posts

No posts found.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Captcha loading...