Easily Process Payroll in One Solution

Payroll software automates the process of managing employee payments. It calculates wages, withholdings, taxes and other deductions, then processes payments directly to employee bank accounts. The software also generates pay stubs and year-end tax documents, such as W-2s or 1099s, to ensure compliance with IRS regulations. For small business owners, payroll software reduces the risk of manual errors, which can occur during data entry or bookkeeping.

In addition to payroll processing, the software often integrates with HR and accounting software for streamlined management of employee information, benefits and tax payments. Payroll software can accommodate various pay schedules, manage PTO and support mobile app access for employees to view their pay information. It's a cost-effective solution, eliminating the need for additional fees tied to outsourced payroll services.

Get an in-depth understanding of payroll software and how it can help your team increase efficiency.

Online payroll software streamlines the process of managing employee payroll by automating calculations for wages, taxes and withholdings. This automation reduces the potential for human error and simplifies tax filing, ensuring compliance with state and federal regulations. The software also supports various payroll needs, including the onboarding of new employees and management of pay periods, making it a versatile solution for businesses of all sizes.

In addition to payroll processing, online payroll software often integrates with HR software, allowing for seamless management of employee data, health benefits and workers' comp. Its user-friendly interface can be accessed from any mobile device, providing flexibility for HR leaders. This software can scale with business growth, offering unlimited payroll runs without additional costs, making it a cost-effective and essential tool for any business.

Learn how to choose the right payroll solution for your company.

Yes, you can run payroll manually without software, but it can be time-consuming and prone to errors. Managing payroll manually requires calculating wages, taxes, withholdings and deductions for each employee, which increases the risk of mistakes, especially with varying state tax regulations. Manual payroll processing also involves keeping track of all payments and deductions, issuing checks and handling tax filings, which can be a complex and labor-intensive process.

While running payroll manually might be feasible for very small businesses with few employees, as your company grows, the need for an efficient payroll system becomes apparent. Payroll software simplifies the entire process by automating calculations, handling tax filings and integrating with other systems like HR and invoicing. It also provides scalability, allowing your payroll system to grow with your business and offers cost-effective solutions compared to the potential errors and time lost with manual processing.

Read more about the different payroll features and functionality that come standard with various payroll systems.

The cost of payroll software varies depending on the features offered and the number of employees you need to manage. Pricing models typically include a base fee plus a per-employee or per-payroll run charge. Some payroll providers offer free payroll options for very small businesses, but these may have limited functionality. For more advanced features like software integrations, health insurance management and new hire reporting, expect to pay higher fees.

Costs can also vary based on whether the software is designed for small businesses or larger enterprises. It's important to evaluate your payroll needs and compare pricing among different providers. Some offer a flat monthly fee, while others charge based on the number of employees or pay runs. Always consider the total cost, including any additional fees for extra features or services.

isolved On-Demand Pay, also referred to as earned wage access (EWA), offers your employees an easy way to access their earnings, without disrupting your payroll process. Offer employees an on-demand paycard that lets them access worked wages after every shift by transferring funds to a prepaid debit card, linked bank accounts or instant gift cards, at no additional charge to you. Giving employees access to financial wellness tools personalized to their needs to alleviate the weight of financial burdens and foster a greater sense of value and appreciation.