No matter how big your business, you have to pay your people. Even if you’re the only person on your payroll, it’s important to be able to track your expenses and comply with all employment laws and tax regulations. Payroll challenges can be a fact for many small businesses, particularly in regards to missing deadlines or overlooking a regulatory change. In fact, according to one Inc. article, “IRS statistics show that roughly 40 percent of small businesses incur penalties averaging $845 a year.”
Automated HR solutions, like payroll software, can help your business establish a firm foundation of best payroll practices and avoid small business pain points, like filling out multiple forms for each new employee, meeting various state regulations, and more. One of the best-reviewed small business payroll software solutions is called Gusto.
Is Gusto the right payroll solution for your business? Why do small businesses choose Gusto?
Gusto was ranked #1 overall payroll software by FitSmallBusiness in 2019 and was highly ranked by Fundera, and for good reason.
Gusto has a lot of features that help to streamline HR operations for small businesses.
- Affordable: Gusto has three different subscription tiers, but they all are robust and affordable for almost any business. Plus each plan includes a free month of service so you can test-drive it at your business. All plans start at $45 a month, but here’s the breakdown of each tier.
- Core: The basic version of Gusto is anything but basic. For $39 dollars a month plus $6 per employee, you get a full-service payroll platform that includes tax filing and payments, coverage of all 50 states, both W-2s and 1099s, garnishments, holiday pay, payroll reports, unemployment insurance, direct deposit, e-sign for I-9 and W-4 forms, and compliance with ACA, HIPPA, and ERISA, plus dozens more features, like employee self-service onboard, health benefits and workers compensation administration and PTO tracking.
- Complete: For the same monthly base rate plus an addition $12 dollars per employee, you get built-in PTO approval processes to go along with PTO tracking, plus employee survey tools to gather feedback. This is also the tier that enables You also have access to admin permission so that you can scale your HR team as your business grows.
- Concierge: This software level starts at $149 per month plus $12 per employee managed on the account, but gives you the extra help you might need as a growing business through dedicated access to HR professionals who can help answer any employee or business questions that may come up.
- Try customizing: Want to add extra HR benefits administration like 401(k)s, FSAs, commuter benefits and more? Gusto can help with that too, by offering a la carte pricing add-ons for features you might need.
- Feature-filled: What can you do with Gusto?
- Easily integrate with 3rd party vendors: If you don’t want to pay for the Gusto timekeeping upgrade, you can integrate with the free timekeeping software Homebase. It also works with accounting apps like QuickBooks, Xero, and Freshbooks.
- In addition to the tiered employee paycheck features, Gusto helps you do more by way of attracting and retaining talent. They can send out automated offers to candidates you’re extending an offer to, manage time off, and gather employee feedback so you can monitor team morale and performance. You’ll also have access to tools like org charts and an employee handbook builder to start growing the resources you can offer employees.
- Free resources: Gusto has several tools built in to help your business grow.
- Salary comparison tool: Find out what the average salary is for positions you’re hiring for both in your state and across the nation.
- New hire checklist: Never miss a step when bringing on a new hire. This checklist makes sure you complete all the right paperwork every time.
- Payroll tax calculator: Easily find out the payroll taxes you should expect to pay when you bring on a new employee.
- Customer service: Gusto knows that not all small business owners are HR experts. That’s why they offer the option of HR advice on-demand from certified HR professionals. Additionally, their software setup is a step by step process that anyone can follow and their web resources include guides for those who are new to payroll or need to switch payroll services.
Overall, Gusto is an easy-to-use and affordable small business payroll option. One of the things that makes it the best payroll software for small businesses is that it helps ensure that running the payroll, onboarding new employees, and staying compliant are all handled in one place. With Gusto, you can run payroll perfectly without being an HR expert. Nothing about Gusto feels “small” – their solutions are robust and their service and support are top-notch so every small business can keep up with modern HR practices.
Your business needs to best payroll tools to find long-term success with cash flow management and employee retainment. Read more about how HR automation can protect and improve your small business here.