Payroll Software 101: Everything You Need to Know Read More >>
Full System Integration
A lot goes into payroll, and Netchex covers and connects it all with our integrated payroll software.
Flexible Pay Options
Multiple ways to pay, including direct deposit, standard checks, and paycards.
Tax Automation & Accuracy
Automated taxes and reporting keep you compliant and ensure accuracy.
(Most Valuable Payroll) for Small Business
Netchex is a true team player providing access, information, and cross-functionality to every department in your company.
More Than Just A Paycheck
There’s more than one way to pay. Today’s workforce can be remote, seasonal, part-time, or salaried. And Netchex can be just as varied depending on your needs.
- NetDirect unlimited direct deposit
- Live checks through our NetPay system
- Paycards with the Skylight® PayOptions™ Program from Netspend®
Accounting For Accuracy
Eliminate the oops, whoops, and uh-ohs with the help of Netchex payroll software. Pre-processing reports and analysis offers precision payroll that’s error-free every pay period.
Instant Preview Processing:
- Detailed exception reporting
- Liability reporting for funding requirements
- Gross to net views of data prior to processing
Tax and Compliance
Get tasks off your plate and worries off your mind. Automated taxes and reporting to keep you compliant—one less thing to think about, thanks to Netchex payroll software.
Our Address, Compensation, and Tax Verification (ACT) feature ensures your employees are being taxed accordingly and paid the accurate minimum wage based on their location.
Automation & Reporting
- Electronic IRS filing and pay withdrawals
- Automate reporting and data pulls
- Quarterly online tax statements & W2 preview
- New hire reporting
FEATURED CASE STUDY
The Colony ER Hospital
Before switching to Netchex in April 2019, the Colony ER Hospital was using ADP – and was not thrilled with their experience. As the facility administrator at their small business, Alexis found it impossible to manage and process payroll correctly with ADP in the event she had to trust another employee to do so. She did not find ADP’s flow of payroll software to be user-friendly, often causing errors.
Payroll Software 101
Today’s modern workforce not only wants workplace technology, employees expect it. The momentum behind HR and online payroll software has been building for more than a decade.
After the seismic shifts seen in the workplace in recent years, it is more crucial than ever to have reliable HR and payroll software. Now is the time to act or reassess your company’s HR and payroll technology needs.
If your company HAS NOT invested in HR technology, now is the time to do it. This ensures you can maximize your company’s potential. Otherwise, you may risk falling behind.
If your company ALREADY HAS some form of HR technology, now is the time to evaluate its effectiveness. Doing so allows you to:
- Measure overall ROI
- Seek further improvements to all your HR processes
Netchex provides that seamless experience through payroll technology. Payroll is the engine that runs and connects our entire suite of HR solutions. Our payroll software makes the administrative side of HR easier, smarter, and more efficient year-round—not just on payday.
Discover why HR technology integration matters and why you can’t afford to ignore it
What is payroll software?
Payroll technology manages all tasks associated with payroll from beginning to end. This ranges from calculating wages to filing payroll taxes. Business payroll software allows you to organize and simplify these complex processes to ensure an accurate and timely payroll.
Learn everything you ever wanted to know about the payroll process with our comprehensive Payroll 101 resource
The alternatives—manually running payroll in-house or relying on a jumble of disconnected software systems—are less than ideal ways to run payroll. Common objections with these methods typically include:
- Time-consuming, mundane processes
- Labor intensity for those running payroll
- ceptibility for making mistakes
Payroll software is a labor-saving solution to all of your payroll problems. By automating the necessary requirements for running payroll, you eliminate:
- The time commitment
- Manual efforts
- Inevitable errors
When the online payroll software is compatible with other HR solutions, the most mundane, yet problematic tasks are done seamlessly. Through automation, an accurate and timely payroll can be guaranteed every time.
What are the benefits of payroll software?
1. Guarantees accurate payroll
Payroll errors can be costly, compliance isn’t optional, and underpaid employees will revolt. Software makes the payroll process consistent and precise.
2. Ensures on-time payments
Just as important as accuracy, timeliness of payments is critical. Employees depend on their paychecks to be available on the expected day.
3. Saves time and money
With automation, your HR team has more time to focus on more people-specific projects. Additionally, payroll and tax mistakes can be costly to resolve.
4. Offers multiple payday options
Employees want more options than just paper checks and direct deposit. Payroll cards are a burgeoning alternative and another step towards a cashless world.
Learn more about payroll cards, an emerging payment option for an evolving workforce
5. Simplifies taxes
Invest in a robust payroll processing software solution that you can trust to handle local, state, and federal taxes. Calculations and routine payments should be automatic.
6. Secures personal data
Learn how to find a trustworthy company to handle your payroll
7. Integrates easily with other HR software
Payroll should be the gateway to all other HR software solutions—from timekeeping and benefits to onboarding and performance.
8. Increases employee engagement and productivity
Online payroll software enables employees to actively participate in the HR process. This typically includes:
- 24/7 access to pay stubs
- Tax forms
9. Improves data and reporting capabilities
Analytics and reporting that keeps pace with your business. Up-to-the-minute payroll data helps you make better business decisions now and in the future.
Discover why THIS YEAR is the year you need to invest in payroll technology
What are the necessary features of payroll processing software?
While specific features can vary based on both user and provider, payroll technology should include most (if not all) of these essential functions.
Discover how to determine which payroll software works best for you
- Accurately calculate wages earned for each employee
- Integrate seamlessly with time & attendance and other HR technology solutions
- Withhold taxes and other deductions from paychecks
- Deposit tax payments to the appropriate recipient on-time
- Pay employees accurately and on-time
- Enable beneficial payroll reports
- Facilitate easier new employee onboarding
- Protect sensitive employee data and financial information
- Empower employees with self-service functionality
Discover more features and benefits of payroll technology
It is vital to match your organizational needs with the appropriate business payroll software. You also want to make sure that you are aware of all features available to you so that you can efficiently utilize them and maximize ROI.
- Netchex allows you to customize your experience to only the services that will make a positive impact on your company and boost engagement.
- Our sales process is personalized to tailor fit our HR solutions to your company’s needs.
- Our Client Success representatives ensure you are getting the most out of the Netchex system, including features that you might not know you have.
Is payroll software easy to use?
New technology adoption among employees is often a major factor in the success of new HR software. Company-wide buy-in and implementation are key to any payroll technology system. Everyone has to use it—and use it effectively—for it to really work.
Learn more about Netchex’s quick and easy implementation process and systems training
While aesthetic features like custom fonts and customizable color schemes won’t make a big difference for your business, these keys to technology adoption certainly will:
Quick and easy implementation
The implementation process needs to be streamlined to get your company up and running as soon as possible. Mutual cooperation between company and provider is critical.
Payroll software programs should be designed with everyday employees in mind, making it easy for everyone to find exactly what they need, when they need it. A rollout plan must consist of:
- Personalized assistance.
Helpful and proactive service makes a big difference for users of all levels. With expertise and continuous training, customer service reps are instrumental in helping clients learn the system and solve issues whenever they arise.
Discover why Netchex has one of the highest customer satisfaction scores in the industry
Can payroll technology help with taxes?
Taxes are a major responsibility and a huge lift on your company. It is also the part of the payroll process that is the most prone to mistakes, which can prove very costly.
Employers have to withhold federal and state income tax from all employees’ taxable wages. Payroll software enables your company to file taxes automatically, ensuring everything is accurate and on time.
Employers have several mandatory tasks in handling payroll taxes. These often include:
- Figuring income tax withholdings and other employment taxes
- Depositing all employment taxes according to a set deposit schedule
- Reporting quarterly and/or annually on income tax withholdings, FICA, Social Security, and unemployment
Learn more about how employee classifications impact payroll taxes
A payroll management system can be a major help when it comes to taxes, especially with administration and employee self-service. Employees can view and make changes to their tax information at any time, including W-2s and W-4s.
Additional FAQs about payroll software
Can I run payroll without software?Yes, payroll can be processed without the help of software, but it can be difficult, time consuming, and susceptible to errors. Without the proper accounting skills to do it correctly, your company may be vulnerable to costly payroll errors and tax penalties. The benefits of HR payroll software far outweigh the cost savings of doing it in-house.
Is my business too small to invest in payroll technology?No business is too small for accurate and timely payroll. If you have more than one employee, you have a need for payroll software. Remember payroll software does a lot more than just payroll (taxes, compliance, reporting, etc.).
How much does payroll software cost?Cost depends on a number of different factors. Typically, this includes the number of employees, your company’s specific needs, payroll frequency, and other similar factors. When comparing online payroll software providers, it’s important to take additional benefits into account, like customer service, ease of use, and integration capabilities.
How quickly can I expect to use Netchex payroll software?Our implementation process is streamlined to get your company up and running on the Netchex application as soon as possible. The process is built upon several quick turnaround dates for our team, which can move as smoothly and quickly as your team helps move the process along.
How much time will I save using payroll software?Compared to manual processing, a payroll management system will save you significant time and effort. Specific time is dependent on company size, integration features, and other factors. Regardless of how much time is saved, payroll technology enables your HR professionals to focus more of their time and attention to your company’s most important resources—your employees.
Do you want to get more for your business with Payroll, Benefits, & HR made easy?
Ready for a live demo? Fill out our contact form or call (877) 729-2661 to speak with Netchex sales and discover how our payroll software for small business can help you