Just Got Paid: The 3 Best Tools to Manage Payroll as a Small Business

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Did you know as many as 40% of entrepreneurs report that handling their books and taxes are the worst things about running a small business?  

In light of this, we’ve briefly reviewed our favorite software for helping business owners manage payroll. Hopefully, this makes your life a tad easier.  

Sound good? Let’s dive in!

1. Payroll4Free

If you’re a business on a budget, you can’t go wrong with this software. Like the name of this service so aptly suggests, business owners can enjoy all of Payroll4Free’s payroll functionalities for free (for no more than 25 employees).

Not to mention, you also have the option of paying your employees either via a direct deposit or with a traditional paper check.

Plus, it’s straightforward for employees to log into the online portal and keep track of all their pay stubs (generated via Payroll4Free’s check stub creator) and their tax forms.

Conveniently, Payroll4Free.com also calculates all your tax liabilities and provides users with forms like W2s and 1099s.

2. HR.my 

With HR.my, you can handle payroll functions for workers stationed all around the world- but best of all, there isn’t a cap on the number of employees you can have.  

Not to mention, users will benefit from the many HR features on offer (these come in especially handy as your business begins to expand). For example, you use things like leave management and document workflow to ensure the smooth day to day running of operations.

Just like Payroll4Free, HR.my is another free service you can utilize. They support themselves via crowdfunding and digitals ads.

3. TimeTrex 

If you need payroll software that also schedules and monitors the time of hourly employees, TimeTrex might be the better fit for you. 

For entrepreneurs on a budget, you’ll be pleased to hear the community version of TimeTrex is entirely free. However, if you want to upgrade to one of their paid packages, you can enjoy extra features like:

  • A mobile app
  • Job costing
  • Expense tracking
  • Recruitment help

To access these additional features, you’ll have to budget at least $30 each month (this will cover you for up to ten workers). 

However, TimeTrex can’t file taxes for you; this means you’ll have to find a separate program or service to help you with that. 

TimeTrax also doesn’t boast labor law compliance that’s bang up to date. So again, you’ll need to find help with that elsewhere. 

Feeling Ready to Manage Payroll?

We hope this article gives you a better idea of how to manage payroll. There are so many amazing pieces of software out there; you just need to go out there are find the one that’s best for your business!

If this piece interested you, we’re confident you’ll also love the other articles over on our ‘off topic‘ blog thread. Over there we discuss everything from the top devices for improving hearing to how to make the most out of life on a tight budget. Enjoy!