📝 The Best Free Payroll Software for Small Businesses in 2023
Managing payroll can be a daunting task for small businesses, but with the right software, it can be streamlined and simplified. Payroll software offers features like automated payroll calculations, tax form preparation, direct deposit, and employee self-service portals. In addition, it can also help with expense claim management, attendance tracking, and document workflows, making it easier for small businesses to handle various HR tasks seamlessly. In this article, we have compiled a list of the five best free payroll software options for small businesses in 2023.
🏆 Payroll for Free
First on our list is Payroll for Free, the perfect payroll software for small businesses with 25 or fewer employees. With a quick and easy sign-up process, you'll be up and running in no time. It offers a range of essential features to simplify your payroll process, with hassle-free payment to your hard-working team and 1099 contractors while generating and filing year-end forms. It also takes care of tax calculations, provides fields tax forms, and offers optional deposit and filing services. You can also choose a payment method between direct deposit and paper checks or use a combination of both. Moreover, it also helps in tracking vacation and PTO time with customizable options. With this, employees can access their pay information, reprint pay stubs and W-2s, and make personal updates through the employee portal. This software also keeps you informed with detailed reporting on earnings, taxes, benefits, and more.
🏆 HR.my
The runner-up on the list is HR.my, a forever-free payroll service that offers unlimited employee management for small businesses. It is available in 65 languages, making it suitable for businesses with diverse language requirements. To get started, all you need to do is sign up using your email account. It offers comprehensive payroll features, including custom pay rates, employee status tracking, and time tracking. It also provides employee management tools like self-service portals, time off request management, and expense tracking. With Employee Self-Service portal and workforce planning, it simplifies payment processes for administrators and team members. With HR.my, you can access various features such as Employee Self-Service, payroll processing, encrypted connections, approval workflows, document workflows, team collaboration, and historical records. It also has an announcement and notices board for effective communication with staff. It stands out for its flexibility, global payroll solution, and an extensive array of free HR features alongside basic payroll.
🏆 Excel Payroll
Coming up on the list, we have Excel Payroll, a third-party payroll software that integrates with Microsoft Excel. This software is convenient as it runs on Excel and doesn't require additional software installation. It offers a range of payroll functions, including calculating paychecks, tax withholdings, and generating pre-filled tax forms like W-2s. You can also use it to print checks, create workers' compensation reports, and log bookkeeping entries. Moreover, it also offers offline functionality. It provides features like printing various forms, accrual reports, deductions, and customizable check layouts. While Excel Payroll is free, Microsoft Online 365, which includes Excel, requires a monthly fee. It can be a cost-effective solution for small businesses with up to 50 employees as it allows administrators to input employee information and hours worked into templates for calculations and data population.
🏆 Time Tracks
Next up, we have Time Tracks, a cloud-hosted payroll software for small businesses seeking a blend of HR and payroll capabilities. It offers a simple step-by-step payroll process by seamlessly integrating scheduling, attendance, and payroll with just a few clicks. Payroll can be processed instantly without the need for data re-keying or exporting. It can effortlessly process payroll to monitor employee time and manage employee data all in one platform. The advanced payroll calculation engine automatically calculates federal, state, and local income taxes along with custom deductions like benefits and garnishments. With direct deposit, it facilitates easy electronic fund transfers for you, while electronic pay stubs provide secure online access or printing. Even though the free plan lacks advanced features, with access to essential functionalities, it serves as a reliable solution for small businesses seeking a straightforward and cost-effective payroll solution.
🏆 Sumo Payroll
Last on our list is Sumo Payroll, an advanced payroll processing and HR software designed for small and mid-sized companies. It offers a range of features, including automated time management tools, expense management, and online salary credits for seamless salary payments. The software provides essential payroll functionality such as payroll processing and payslips, employee management, self-service options, and the ability to import employee attendance data. Moreover, it stands out with its user-friendly Web Time clock for easy employee time management and the option to import attendance data through a GPS-based mobile app or weekly timesheets. It also offers the mobile HR app for convenient access on the go, along with detailed reports and customer support. With Sumo Payroll's cloud-based solution, organizations with fewer than 10 employees can access the software for free without the need for credit or debit card information. For more than 10 employees, you can also utilize it by paying an additional monthly per.
🌟 Highlights
- Payroll software can streamline and simplify the payroll process for small businesses.
- Payroll for Free is the perfect payroll software for small businesses with 25 or fewer employees.
- HR.my is a forever-free payroll service that offers unlimited employee management for small businesses.
- Excel Payroll is a third-party payroll software that integrates with Microsoft Excel.
- Time Tracks is a cloud-hosted payroll software for small businesses seeking a blend of HR and payroll capabilities.
- Sumo Payroll is an advanced payroll processing and HR software designed for small and mid-sized companies.
❓ FAQ
Q: What is payroll software?
A: Payroll software is designed to streamline and simplify the payroll process for small businesses. It offers features like automated payroll calculations, tax form preparation, direct deposit, and employee self-service portals.
Q: What are the benefits of using payroll software?
A: Payroll software can help small businesses save time and money by automating payroll calculations, tax form preparation, and direct deposit. It can also help with expense claim management, attendance tracking, and document workflows.
Q: What is the best free payroll software for small businesses?
A: The best free payroll software for small businesses depends on your specific needs. Payroll for Free, HR.my, Excel Payroll, Time Tracks, and Sumo Payroll are all great options to consider.
Q: Can payroll software help with HR tasks?
A: Yes, payroll software can help with various HR tasks such as expense claim management, attendance tracking, and document workflows.
Q: What is Sumo Payroll?
A: Sumo Payroll is an advanced payroll processing and HR software designed for small and mid-sized companies. It offers a range of features, including automated time management tools, expense management, and online salary credits for seamless salary payments.
