Paychex Online Payroll
From the Oct. 2012 Review Section on Payroll Systems.
Paychex is one of the most mature payroll brands on the market, having started as an payroll service provider in 1971. The company has continually developed their programs and offers a range of systems and services, including the Paychex Online Payroll system.
Paychex Online Payroll supports all states and is designed primarily for direct use by small and mid-sized businesses managing their own processing, and with staff sizes up to about 50. The company also offers a referral program and tools that make it easy for professionals to log in and view or download payroll reports and general ledger reporting for all of their clients using the system.
The program’s key features include a simplified payroll run workflow, which can be completed in as little as two clicks, if the payroll is standard and no adjustments are needed to employee hours or other information. If such changes are needed, the steps are very easy for small business managers to follow, with prompts that guide them.
Before finalizing a payroll run, Paychex offers a payroll journal that can be reviewed either by the small business or their accounting professional to ensure that gross-to-net totals and other details are correct. The cash requirements report also helps the small business make sure that their accounts are properly funded.
Direct deposit is included with the program and can be split into multiple accounts, and employee pay can also be loaded to prepaid debit cards. The system can support any pay types, deductions, garnishments and other third party payments, and has options for managing more advanced HR functions, including HR, benefits and workers’ comp insurance.
A free iPad app is available for both employers and for their employees, who can access self-service features (also from traditional browsers) to check their own paystubs, W-2s, and general information.
Businesses using Paychex can manage their own compliance requirements, or can use the company’s Fulfillment Services. With this option, Paychex can handle functions the business would rather not, including check printing, mailing, bank reconciliation, tax deposits, year-end form printing and filing to employee and agencies, new hire reporting and other functions.