Paychex Payroll Services
Running payroll is often one of the more complicated aspects of managing a business. When owners are already pressed for time, spending hours each month ensuring taxes, wages and fees are all taken care of can be a waste of resources. Paychex Payroll Services is an entirely online system that seeks to simplify that task while offering some intriguing benefits at the same time.
Paychex Payroll Services at a Glance
As an online payroll provider, Paychex is focused on simplifying the payroll process by automating many of the tasks associated with monthly employee expenses. While similar companies choose to serve exclusively to small businesses, Paychex broadens its scope to include midsized and larger business as well.
For smaller institutions, Paychex focuses on removing the burden of drafting a paycheck. For larger businesses, the company instead features the integration of a variety of services to better manage the company as a whole, including HR tasks and compliance issues that burden a larger organization. Some of the products include:
- Direct deposit/pay cards
- Management of tax data and payments
- Dedicated payroll specialists
- The analysis and reporting on payroll/employee scheduling data
- Workers’ compensation reports
- Financial wellness plans for employees
- Online learning/workplace education system
While some of these benefits are available at all levels of service, many of the products are only available to higher-level plans. Even so, the most basic program covers all of the essentials that will allow a business to avoid dealing with the headaches commonly associated with running payroll.
Overview of Paychex Payroll Services Features
All of Paychex’s plans come with a host of features that make operations a snap. The online program handles filing tax payments, reporting new hires and offering round-the-clock chat support. Also included are mobile apps and even employee services to promote sound financial decisions and help them make and keep personal monetary goals.
While the basic plan only offers payroll distribution via direct deposit or payment cards, higher programs offer more variety. In addition, the Paychex app lets employees keep track of paystubs and their W-2 filings at a glance, and higher tiers even allow filling out paperless new-hire packets.
Another important offering that starts at the Paychex Flex Select level is a dedicated payroll specialist. Like having an accountant dedicated to payroll, businesses have a dedicated point of contact to discuss related decisions and manage accounts. While automated systems are nice, it’s always beneficial to know there’s someone available to personally handle payroll.
One offering that stands out is the Paychex Learning Management System. The LMS is designed to allow businesses to create a variety of training programs and make them available to their employees on a digital platform. A handy tool, it’s an interesting integration of new electronic educational software that has major benefits for companies willing to put in the time to create training programs.
Perhaps most beneficial to larger organizations are the analytics and reports offered by Paychex. With these tools, employers can easily get refined data that reflects their operations on a monthly basis. This gives businesses the edge when trying to determine wage increases, vacation times and new-hire scenarios down the road.
Paychex Payroll Services Pricing
Using a basic tiered subscription model, Paychex allows companies to choose the level that best suits their business. The lowest available tier handles basic payroll duties exclusively, offering little in the way of bells and whistles, though it does include financial wellness tools that are available to all employees. The second level still centers on smaller businesses but includes some of the more in-depth services, such as a payroll specialist and access to the LMS.
As employers enter the third tier, the programs become geared towards medium-sized companies with more complex payroll requirements, including analysis and reporting on employee work data. The final and most expensive tier is meant for larger organizations and facilitates dealing with a business with many employees and a complex Human Resources department.
Paychex Payroll Service is definitely a company that has something for businesses of every size. Even at its most basic level, the company simplifies most aspects involved with payroll and offers it with all of the convenience modern technology can provide. The varying subscription levels ensure that it offers products somewhat customized for any business, and some of the products such as the LMS stand out as compelling reasons to inquire further about the programs.
Check out our list of the Top 10 Online Payroll Services