Table of Contents
With the explosion of technology that has taken place over the years, a new business concept known as cloud accounting has emerged. Cloud accounting is essentially software that allows companies to keep track of their finances without having to use expensive and complicated payroll software like Paychex or QuickBooks. With so many options on the market today, it can be difficult knowing which one will work best for your company in 2022.
The “quickbooks payroll vs gusto” is a question that many people ask themselves. Gusto is an online payroll service, but it does not have the same features as QuickBooks Payroll.
Paychex Flex and QuickBooks Payroll are cloud-based payroll solutions that assist you in processing payments for employees and contractors. Paychex Flex has scalable payroll solutions (from a one-person plan option to enterprise or PEO), more robust benefits options, and a higher level of HR support that’s great for businesses planning to grow significantly. QuickBooks Payroll allows unlimited pay runs and integrates with Intuit products like QuickBooks (a popular small business accounting software), whereas Paychex Payroll has scalable payroll solutions (from a one-person plan option to enterprise or PEO), more robust benefits options, and a higher level of HR
We’ll go through the important aspects of both systems in this article, but if you’re searching for a fast way to choose the proper payroll solution for your requirements, here are some suggestions:
- Paychex Flex is ideal for developing businesses that want to expand.
- QuickBooks Payroll is the best payroll software for small companies, particularly those that use QuickBooks accounting software.
We discovered that Rippling is the ideal choice when neither Paychex Flex nor QuickBooks Payroll work for you, since it allows you to mix and match HR, IT, and payroll modules.
- Rippling: The best payroll software for businesses with remote or worldwide employees or those looking for a flexible solution.
Paychex vs. QuickBooks Payroll: A Side-by-Side Comparison
*Please keep in mind that some of these HR solutions are accessible as a paid add-on or as part of premium programs.
Takeaway: If you’re a small business searching for a cost-effective payroll solution, check into QuickBooks Payroll. Its starting package (which costs $45 + $4 per employee monthly) is more cost-effective than Paychex since it includes unlimited pay runs, automatic federal and state taxes and paperwork, and next-day direct deposits.
If you require a scalable and flexible payroll system, Paychex is the way to go. It provides an integrated suite of HR tools for recruiting, onboarding, new employee reporting, and learning management, in addition to allowing you to process payroll online. You may choose from packages for solo (one-person company), small business, enterprise, or professional employer organization (PEO).
Paychex and QuickBooks Payroll both provide:
- Mobile applications and employee self-service (iOS and Android)
- Employees and contractors’ pay is processed.
- End-of-year tax filing (such as W-2s and 1099s)
- Health insurance policies are accessible in 50 states throughout the United States.
- Reporting that is both standard and configurable
- When Should You Use Paychex Flex?
- When Should QuickBooks Payroll Be Used?
Paychex Flex is our top recommendation for growing businesses because of the wide variety of payroll options it provides. You may begin with its do-it-yourself payroll plan (it files payroll taxes and offers unlimited pay runs). As your business grows, you may upgrade to a more comprehensive plan. When your HR department wants to outsource certain tasks, there’s even a Paychex PEO alternative.
Paychex Flex is a great place to start.
We suggest QuickBooks Payroll for small companies because it is simple to use, inexpensive, and part of the Intuit product portfolio, which has long catered to the requirements of small businesses. The payroll system is also compatible with QuickBooks accounting software, which is popular among small company owners. This implies that all of your data is synchronized, and you won’t have to input it again.
Pay attention to QuickBooks Payroll.
QuickBooks Payroll is the most cost-effective option.
The costs of both beginning programs are compared here. While QuickBooks Payroll is more costly up front than Paychex, with unlimited payroll runs and no setup costs, it is really more cost-effective in the long term.
You receive full service payroll with unlimited pay runs, year-end files of W-2s and 1099s, and automatic payroll payments, taxes, and forms with its Core plan, which costs $45 + $4 per employee monthly (federal and state). You’ll also have access to health insurance and retirement programs, as well as experienced payroll assistance and a self-service site for employees.
Furthermore, QuickBooks Payroll’s price is consistent across the board, allowing you to choose the plan that best suits your budget and company needs. Paychex, on the other hand, only lists the cost of its beginning package on its website. You must contact the provider and request a quotation in order to get price information for its premium programs.
Off-cycle payroll runs (other than the default option) cost extra with Paychex Flex. If you’re running payroll behind schedule, QuickBooks Payroll can help you save money.
Paychex Flex is the best in payroll features.
Paychex Flex’s payroll tax filing capabilities set it different from QuickBooks Payroll. Paychex Flex automates federal, state, and local tax computations and keeps up with rate changes, while QuickBooks Payroll needs you to manually enter all local taxes and rates.
Paychex Flex also allows you to pay workers in a variety of ways, including choosing a pay period (weekly, bimonthly, or monthly) or creating a custom payment plan. It also has a pay-on-demand option in addition to direct deposits, cheques, and pay cards. That feature is not available in QuickBooks Payroll.
QuickBooks Payroll, on the other hand, is an excellent choice for businesses that handle employee payments often, both on a regular and off-cycle basis. The limitless pay run function of the provider is a money saver, particularly for company owners that pay their employees on a weekly or bimonthly basis. Furthermore, if you subscribe to either the Premium or Elite plan, QuickBooks Payroll’s direct deposit options enable for same-day processing.
Paychex Flex and QuickBooks Payroll offer comparable features when it comes to payroll processing. Both companies provide online pay stubs, year-end W-2 and 1099 reporting, and electronic pay stubs for employees and contractors. They also offer a mobile app (available for iOS and Android) that allows you to complete payroll on the go.
Employee Benefits at Their Finest: Paychex Flex is a service provided by Paychex.
Paychex Flex and QuickBooks Payroll both provide access to benefit choices for their customers’ workers. Paychex Flex, on the other hand, has a larger range of options, including health insurance, retirement, HSA, FSA, and financial wellness tools. In addition, Paychex’s self-service capabilities make it easier to enroll in benefits.
Paychex’s mobile app gives your workers access to their benefits information.
QuickBooks Payroll may be suitable if you simply need access to health insurance and retirement programs.
Paychex Flex has the best HR features.
Paychex offers a variety of integrated HR solutions to help you effectively manage your workforce. It features time tracking, PTO monitoring, application tracking, background screening, and learning management capabilities in addition to payroll. It also has an onboarding function that allows you to automate new recruit onboarding and effortlessly send relevant employee data to payroll.
QuickBooks Payroll, on the other hand, is a wonderful alternative if you simply need basic HR functions like time tracking and PTO monitoring. These features, however, are only accessible via QuickBooks Time, and you’ll need to subscribe to QuickBooks Payroll’s Premium or Elite plan to use them.
Best in Ease of Use & Customer Support: Tied
Although both Paychex Flex and QuickBooks Payroll feature user-friendly interfaces, the latter is more straightforward and simple to use. While Paychex Flex is simple to use for workers, system administrators will have a tougher learning curve.
Paychex provides phone help 24 hours a day, seven days a week, whereas QuickBooks Payroll provides live chat support 24 hours a day, seven days a week. Live phone assistance is also available for QuickBooks Payroll, although it is only accessible Monday through Friday (6 a.m.–6 p.m. Pacific time) and Saturdays (6 a.m.–3 p.m. Pacific time). The Elite package, on the other hand, includes 24/7 phone support.
Paychex delivers a personal payroll expert to customers that subscribe to its premium tiers in terms of HR services. You may call a team of HR specialists to ask inquiries, but you’ll have to pay extra for this service.
A comparable HR advising service is available via QuickBooks Payroll. Premium and Elite subscribers get access to Mammoth’s “HR help center” as a result of their agreement. This service allows you to obtain professional responses to HR and compliance questions. It also includes job descriptions, onboarding checklists, and employee handbooks that may be customized. If you’re on the Elite plan, you’ll also have access to a personal HR consultant.
Paychex Flex is the best option for third-party integration.
Paychex is compatible with a variety of platforms, including recruiting, time and attendance, HR, and accounting software (such as BambooHR, Glassdoor, Indeed, SimplyHired, OnShift, Clover, Insight360, QuickBooks Online, Xero, Adagio, Hubworks, and Altametrics). QuickBooks Payroll, on the other hand, works solely with Intuit products.
User Experiences with Paychex vs. QuickBooks Payroll
- Paychex: G2 and Capterra gave this program 4.2 out of 5 stars and 4.1 out of 5 stars, respectively. It’s straightforward to set up and operate, particularly for workers, according to reviewers. They also like that it’s cloud-based, which means they can see their pay stubs and time transactions from wherever there’s an internet connection. On the other side, some consumers have complained about system malfunctions and inconsistency in customer service.
- QuickBooks Payroll has a G2 rating of 3.6 out of 5 stars and a Capterra rating of 4.5 out of 5 stars. The user-friendly design is popular among customers, who say it reduces the burden of payroll processing. However, customer service has garnered conflicting reviews—some users have remarked that the support crew is helpful, while others have complained that they received bad treatment.
Paychex Flex vs. QuickBooks Payroll: A Comparison
I compared the breadth of each provider’s HR capabilities and employee perks to determine whether QuickBooks Payroll or Paychex Flex is the better option. I also looked at the functionality, cost, and convenience of use of employee pay and payroll tax processing. Customer service was also a big concern, since it is crucial when putting up a new payroll system.
Conclusion
Consider Paychex if you need a complete payroll tax administration system that includes automated computations, payments, and filing of federal, state, and local taxes. It also gives you a range of benefit alternatives to offer your workers, such as FSAs, HSAs, health insurance and retirement plans, and financial wellness programs.
If you’re a QuickBooks accounting user or a small business owner who has to conduct payroll, QuickBooks Payroll is the superior solution. You receive unlimited pay runs with its Core beginning plan, which is somewhat less expensive than Paychex’s basic payroll package. Register for a free trial.
Pay attention to QuickBooks Payroll.
The “paychex payroll” is a popular option for small business owners. It offers the same features as QuickBooks, but at a lower price point. In 2022, it will be interesting to see what happens with these two options.
Related Tags
- paychex pricing
- quickbooks payroll pricing
- paychex vs intuit payroll
- difference between quickbooks payroll and paychex
- paychex quickbooks desktop integration
