14 Best Payroll Outsourcing Companies in 2024 HR University

Some discount online payroll provider companies cut corners in the support area to offer rock-bottom prices. Gusto is an online payroll software that makes payroll easy and affordable. You can use one of their standalone plans for as low as $45/month, or you can add their free app to your FreshBooks account.

Statista estimates there are currently around 57.3 million gig economy workers in the United States alone. The American workforce is placing increasing value on flexibility and work-life balance—two of the main benefits of gig work. It’s not hard to see why 77% of gig workers report satisfaction with their current employment. As the number of freelance workers continues to rise, payroll software will need to adapt to meet more non-conventional needs. We expect that in 2024, innovations made by payroll software companies will include changes geared toward this type of worker.

How To Choose the Best PEO Service

You might like PayUSA because of its customized service that you might not get from other online services. With Quickbooks Enhanced Payroll, you can enter the number of hours, overtime, and deductions for up to 50 employees and contractors. If you already track your business transactions on Intuit Quickbooks, a natural next step can be to outsource payroll using their Enhanced Payroll or Full Service Payroll option.

These two factors are less critical for smaller businesses, which therefore form the core group that outsource payroll. Larger companies are more likely to retain payroll in-house, since they can process payroll at lower cost than suppliers, and can retain payroll information within their computer systems. Don’t hesitate to negotiate contract terms with your payroll service provider. They may be open to adjusting pricing based on your specific needs and budget constraints. That being said, outsourcing payroll and HR activities will pay off in the long run.

Employer Solutions Staffing Group

This will help ensure that you don’t overextend yourself when you are tempted to pay extra for à la carte features. Do you pay all your employees at one time, or do you have different schedules for different categories? In the case of independent contractors, you might be paying them anytime they invoice you. Gusto includes features that might appeal particularly to modern startup workers, including automated charitable donations. Plus Gusto’s Wallet app gives employees greater control of and access to their money.

• Choosing a service like QuickBooks can be a great way to accomplish those goals.
• The goal of outsourcing payroll is to ensure your people are paid accurately, and on time, while reducing the amount of effort and resources required of your organization.
• Suppliers have a standard set of “canned” payroll reports, and usually offer report writing software that allows you to extract information and present it in formats that are specific to your company.
• Paychex provides solutions for self-employed business owners to pay themselves a salary while also saving for retirement.

ADP Run was developed with small businesses (less than 50 employees) in mind. Its packages start with basic payroll outsourcing but upgrade options support companies with growing needs. For small companies looking to grow quickly, especially those planning on outsourcing further HR capabilities and signing up for PEO services in the future, ADP Run is a sound choice. ASO refers to a type of outsourcing arrangement in which a business contracts with a third-party provider to handle certain administrative tasks, such as payroll, benefits and HR compliance.

What You Get With Paychex Small Business Payroll Services

These activities include calculating wages, deducting payroll taxes and benefits, and ensuring compliance with tax laws. They have a proven track record of providing excellent services to businesses of all sizes. With their automated system, they take over the meticulous task of payroll processing accounting software and ensure timely and accurate payments. The best payroll company for your business depends on the size of your business, the industry and which services you seek. While we have judged Rippling to be the best outsourced payroll solution overall, it may not be the right choice for every business.

• A payroll service is a company that specializes in providing payroll processing services.
• PEOs can also provide access to a range of HR and employment expertise, such as payroll processing, benefits administration and compliance with employment laws.
• The top 10 payroll companies on this list cover everything that a business may seek in a payroll provider.
• They manage all payroll-related tasks, ensuring that employees are paid accurately and on time.

This mindset of vertical integration extended into companies’ internal processes as well. It wasn’t until the late 1980s that many companies, hindered by bloated internal structures, began to see broad strategic value in “hiring away” work once completed in-house. Once the possible cost savings of the practice became clearer, there was no turning back. Organizations should look for a payroll provider that combines deep functional expertise with innovative technology to provide complete visibility into your payroll data and reporting.

Related outsourcing resources

It also offers employee self-service options, allowing employees to access their pay stubs and tax information. ADP’s software is robust, offering a myriad of features such as benefits administration, time tracking, and compliance management. They also offer insights and analytics to help businesses make data-driven decisions. Payroll processing involves handling sensitive employee data, including social security numbers and bank account details.