Best Payroll Software for Small Businesses in 2024

Best Payroll Software for Small Businesses in 2024: Streamline Payroll and Compliance

Managing payroll for a small business can be challenging. The right payroll software automates processes like salary calculations, tax filings, and compliance, saving time and reducing errors. In this article, we’ll review the best payroll software for small businesses in 2024 and how Deel helps businesses with international teams handle global payroll seamlessly.

Why Payroll Software is Essential for Small Businesses

Problem: Payroll is time-consuming, especially when done manually. It can also lead to costly mistakes.

Agitate: Payroll errors can lead to incorrect payments, tax issues, and non-compliance, which can result in penalties.

Solution: Payroll software automates salary calculations, tax deductions, and compliance, making the entire process smoother and more accurate.

Top Payroll Software for Small Businesses in 2024

Here’s a comparison of the top payroll software options for small businesses:

Payroll Software	Key Features	Pricing	Best For
Deel	Global payroll, multi-currency payments, compliance tracking	Custom pricing via Deel link	Small businesses with international teams and contractors
Gusto	Payroll, benefits management, tax filing	Starts at $40/month + $6/employee	U.S.-based small businesses
QuickBooks Payroll	Automated payroll, tax filings, benefits administration	Starts at $45/month	Small to mid-sized businesses
OnPay	Payroll, tax filing, employee onboarding	$40/month + $6/employee	Startups and growing businesses
Patriot Software	Payroll, direct deposit, time tracking	Starts at $17/month + $4/employee	Very small businesses

Key Features to Look for in Payroll Software

1. Payroll Automation: Automates payroll, including wage calculations, taxes, and deductions.

2. Compliance Management: Ensures adherence to federal, state, and local regulations, minimizing the risk of non-compliance.

3. Tax Filing: Handles federal, state, and local tax calculations and filings automatically.

4. Global Payroll Support: For businesses with international teams, multi-currency payments and compliance features are essential.

5. Employee Self-Service: Allows employees to access their pay stubs, tax forms, and personal data, reducing HR workload.

Why Deel is Ideal for Small Businesses with Global Teams

Deel is a standout choice for small businesses with global or remote teams. Here’s why:

• Global Payroll: Deel handles payroll for employees and contractors in over 150 countries, ensuring compliance with local tax laws.

• Multi-Currency Payments: Deel supports payments in local currencies, reducing currency conversion issues.

• Compliance Automation: Deel automatically ensures compliance with local labor laws, taking care of tax filings and legal requirements.

For custom pricing and more details, visit Deel’s website.

Conclusion

Selecting the right payroll software is crucial for streamlining your small business’s operations. Platforms like Gusto and QuickBooks Payroll are ideal for U.S.-based businesses, while Deel is perfect for small businesses with international teams, offering robust global payroll and compliance features. Take the time to evaluate your business’s specific payroll needs to choose the best solution for 2024.

FAQs

1. What is the best payroll software for small businesses?Gusto and QuickBooks Payroll are great options for U.S.-based small businesses. Deel is ideal for global payroll management.

2. Can Deel handle payroll for international contractors?Yes, Deel specializes in global payroll, managing compliance and payments for employees and contractors in over 150 countries.

3. How much does payroll software cost?Pricing varies, with Gusto starting at $40/month and Deel offering custom pricing based on your business’s global payroll needs.

4. Why should I automate payroll?Automating payroll reduces errors, saves time, and ensures compliance with tax laws, improving efficiency and accuracy.

5. Can payroll software manage tax filings?Yes, most payroll software, including Deel, automates tax calculations and filings to ensure compliance with federal and local regulations.