Payroll Software

What is Payroll Software?

Payroll software offers a centralized suite of tools that help organizations manage and automate employee payments, achieve compliance with tax laws, and reduce operational and HR costs. Payroll systems integrate with other business software systems to help guarantee accurate, timely compensation, and allow employees to manage their personal information and payment preferences.

Payroll software benefits organizations by improving payment reliability, streamlining payroll tasks, and increasing flexibility in payment types for global employees. Companies using payroll software can also obtain deep business insights, and improve employee payment reporting capabilities.

Key Features of Payroll Software

The key features and capabilities of Payroll software include the following:

  • Payroll Processing: Payroll software helps organizations streamline payroll processing by integrating with time and attendance tools to automatically pull necessary data, make ACH deposits, and print checks.
  • Direct Deposit: Payroll software provides direct deposit functionality, which helps companies reduce payroll processing costs, provides employees with immediate access to funds, and reduces the risk of fraud or lost paychecks.
  • Tax Calculations & Filing: Payroll software automates tax calculations and filing by automatically generating necessary forms with tax information, which helps businesses reduce errors and file taxes on time.
  • Payroll Compliance: Payroll software helps organizations maintain compliance with federal, state, county, and city payroll regulations by double-checking entries against current laws, to minimize the chance of legal problems and fines.
  • Mobile Apps for Self-Service: Payroll software often provides mobile access that organizations can use to run payroll and view reports while on the go. Employees can also use mobile payroll apps to manage personal information and view pay stubs.
  • Reporting and Analytics: Payroll software offers extensive reporting capabilities that help organizations analyze spend, budgets, tax summaries, and other financial metrics to better manage employee resources and payroll.

Common Payroll Software Integrations

Payroll software often integrates with the following business software systems:

  • HR Software: Integrating Payroll software with HR software helps organizations process payments, manage employees more efficiently, and frees up HR teams to focus on improving employee experience and building a positive workplace culture. This integration also streamlines HR and payroll workflows, improves compliance, and enhances data visibility to help HR teams work with increased efficiency and accuracy.
  • Accounting Software: Integrating Payroll software with Accounting software eliminates the need for double data entry, automatically updates ledgers, and reduces the risk of manual data entry errors. This integration also helps companies improve financial efficiency by ensuring that payroll data such as deductions, overtime, and other payroll spending is accurately tracked within their business accounting system.
  • Expense Management Software: Integrating Payroll software with Expense Management software helps companies streamline their employee reimbursement processes, ensure timely, accurate reimbursements, and improve HR team efficiency by automatically incorporating expenses into payroll.

Top 10 Payroll Software Providers

NetSuite / Sage Intacct / Gusto / APS / RUN / QuickBooks Accounting / isolved / Oracle ERP / Paychex Flex / Patriot Payroll

WH Score
7.9
Acumatica
8reviews
Starting Price:N/A
Acumatica is a cloud-based Enterprise Resource Planning (ERP) solution that offers a platform designed for midsize customers with a complete, real-time view across the business.   
WH Score
7.9
FreshBooks
11reviews
Starting Price:$205.2 per user / per year
FreshBooks is an online accounting and invoicing platform that saves you time, automates your admin, and keeps your books organized and your business looking professional. FreshBooks believes financial recordkeeping should be easy and fast, but still detailed enough to satisfy your accountant. 
WH Score
7.9
Papaya Global
0reviews
Starting Price:$15 per employee / per month
Papaya Global is a versatile platform that caters to the needs of businesses looking to streamline their payroll and payment processes for a global workforce. The platform offers a range of services including workforce solutions, employee payments, and employment services, making it a comprehensive ...
WH Score
7.9
Dynamics Square
0reviews
Starting Price:$298.53 per user / per month
Dynamics Square is a trusted partner for Microsoft Dynamics 365, serving businesses primarily in Canada. From brand new implementations to streamlining existing MS Dynamics 365 subscriptions, Dynamics Square accommodates a variety of customized needs to suit businesses operating in industries such a...
WH Score
7.9
Acrotime
0reviews
Starting Price:N/A
Acrotime is an anytime, anywhere time and labor management suite from Acropoint. The Acrotime Workforce Management Suite provides peace of mind and enterprise-level services at a fraction of enterprise-level costs.
WH Score
7.9
Justworks
16reviews
Starting Price:$49 per employee / per month
Justworks is an employee management solution that takes care of all needs pertaining to managing your company’s workforce. From regular payroll to unemployment claims, Justworks embeds all functionalities required for efficient employee lifecycle management. 
WH Score
7.9
FingerCheck
12reviews
Starting Price:$5 per employee / per month
Fingercheck is a cloud-based software that streamlines and automates the employee time tracking and attendance management. With Fingercheck, businesses can effortlessly track employee hours, monitor attendance, and manage payroll in one centralized system.
WH Score
7.9
Homebase
0reviews
Starting Price:$0 per employee / per month
Homebase offers a time tracking solution that lets employers stay on top of every detail pertaining to their employees’ daily attendance. Offer a PIN to each employee for clocking in and out, while deciding how and where they can log from. 
WH Score
7.8
Heartland
4reviews
Starting Price:N/A
Heartland offers streamlined and efficient payroll management for companies of all sizes, with solutions that can be customized based on individual business requirements.  
WH Score
7.8
Deltek ComputerEase
12reviews
Starting Price:N/A
Deltek ComputerEase is an ERP solution developed specifically for construction firms and contractors and addresses the unique challenges of the construction industry.
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