- Ease of use for someone without bookkeeping experience
- Calculate employee earnings and deductions
- Deduct federal, state, and local payroll taxes in accordance with the laws
- Print payroll checks
- Prepare and print related tax forms, such as W-2s
- Generate reports and keep IRS-required records
- Enable electronic direct deposits to employee bank accounts (optional)
Action Steps
The best contacts and resources to help you get it done
Consider an accounting suite with a payroll solution
Many popular accounting programs include basic payroll software; others require you to purchase an add-in module.I recommend: Three of the most popular accounting suites — QuickBooks, MYOB and Peachtree — include payroll solutions. See how their payroll capabilities rate in TopTenREVIEWS' Accounting Software Reviews.
Compare stand-alone payroll software programs
A separate payroll software program may suit your needs better than a component of an accounting suite. In general, stand-alone programs are cheaper than full accounting suites and may offer more of the features you want. In many cases, files from these payroll software programs can often be imported into popular accounting programs.I recommend: Popular stand-alone payroll software includes ZPay and PenSoft.
Sync up with your accountant
It may be wise to choose the same software used by your accountant. This enables your accountant to import your payroll software files in a snap, which can save time auditing your books and preparing your taxes. And that saves you money.I recommend: If you need an accountant, find one through your contacts or start with the local chapter of The American Institute of Certified Public Accountants.
Get help with payroll software
Sometimes, even the simplest small business payroll software program can leave you scratching your head. If you run into problems or questions, check the manufacturer's Web site for FAQs and customer support.I recommend: If you can't find an answer to your payroll software query, seek help from your peers. QuickBooks offers a community discussion forum where you can ask your payroll questions.
Tips & Tactics
Helpful advice for making the most of this Guide
- Expect to pay an annual fee to update the tax tables in your payroll software.
- Some payroll solutions may require you to purchase checks from the software manufacturer.
- Look for payroll software that is targeted to a business your size, and will work if your payroll grows.
the Payroll Software page at Business.com
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