Organizations worldwide increasingly depend on automated payroll software solutions to effectively process employee payrolls rather than doing the entire task manually or by hand. A reliable payroll software solution is capable of automating as well as speeding up the entire process of ensuring payments to workers. At the same time, a feature-rich payroll software solution is also helpful in streamlining day-to-day operations within an organization -notably if the organization features a large pool of employees across different parts of the world.
It is important to note that every payroll system will feature its own set of limitations. Payroll software can be helpful for businesses having either independent contractors or full-time employees. Some payroll software solutions are also capable of calculating tax deductions. To help you effectively explore the niche and select the best free payroll software system for your small business, we have compiled a list of the best ones available in the industry.
What is the Best Free Payroll Software System for Small Businesses?
Is a free payroll software solution right for your business? Free payroll is more straightforward for your organization than other competitive payroll solutions. The free payroll system might not feature the same level of employee benefits, customer support, ease of use, or overall security.
The best free payroll system for small businesses should be capable of calculating pay for hourly & salaried employees. At the same time, it should also be able to take care of tax deductions and tax calculations while printing checks and paying stubs. Some of the advanced systems are even capable of filing taxes and offering direct deposits. When you are searching for reliable payroll processing software, it is significant to future-proof your respective investment by selecting a cloud-based system.
A reliable free payroll system helps reduce the overall payroll expenses while making it simpler to execute paying your staff and calculating payroll taxes. Here are some of our top suggestions:
SumoPayroll
It is a cloud-based payroll as well as an HR management software solution. The software is committed to streamlining and simplifying payroll calculations with the help of minimal clicks. At the same time, you will also get ample support for employee information and time management solutions, along with performance evaluations and other relevant accounting tasks associated with HR.
SumoPayroll can support standard payroll models depending on internal policies and prevailing rates. Additionally, it is also possible to create your customized payroll model by keeping in mind the specific requirements of your organization. In addition to this, it is also possible for employees to get access to a dedicated self-service portal for filing administrative requests. Here, managers are able to observe, approve, and modify the same as per the requirement.
SumoPayroll serves to be a cost-effective solution for small businesses. You can get access to a completely free plan for up to 10 employees. Some additional features of the software are:
- Centralized employee information
- Employee self-service portal
- Customized payroll calculations
Capshare
While not regarded as typical payroll software in a conventional setting, Capshare enables shareholders to analyze as well as manage earnings out of stocks and equities. It is a valuable software solution for startups because most startups hire employees with the help of equity compensation. Capshare offers its managers and employees a way to consolidate existing data with respect to equity while monitoring them over a single platform.
Capshare is typically categorized as a cap table management solution. It enables users to go through data required by them for the overall success of the stocks. Managers are capable of setting up specific permissions while accessing tiers to employees. Capshare also allows organizations to issue stocks and speed up computations while enabling managers to interact with one another.
Capshare is available with a completely free plan. It is beneficial for startups as the solution offers standard features for free for up to 20 shareholders. Some key features of the software solution are:
- Ability to grow with your business
- Simple shareholder management
- Simplified record-keeping
PaymentEvolution
PaymentEvolution is regarded as one of the largest payroll systems in all of Canada. It is a simple yet fully-featured free payroll software solution that is designed specifically for small businesses, startups, bookkeepers, and accountants. The software is known to leverage the capabilities of the cloud. Therefore, it is possible for users to make use of the software solution anytime, anywhere.
PaymentEvolution goes ahead with streamlining the payroll process by integrating its innate features with other HR-centric employee functionalities of the organization -including year-end tax records and employment records. At the same time, the software solution is also capable of supporting all the modern requirements of any payroll software -like CPP, deductions, taxes, and so on. Moreover, you can consider creating customized settings for other types of deductions.
The Green Plan of PaymentEvolution is available for free use as it supports around 5 employees and one user. The given plan is capable of integrating with only a single third-party app. Some additional features of PaymentEvolution to look out for are:
- Security of data
- Customized payroll models and deductions
- Great for startups and small businesses
NolaPro
It is an ultra-customizable software solution for payroll management that is capable of simplifying the payout procedures on the cloud. The platform has been designed such that it expands according to the respective needs of the organization. The software is completely secure as well as transparent to the entire user base -whether you are the manager or the employee.
One of the primary benefits of using NolaPro is that all features of the software can be effectively personalized. With a myriad of add-ons, along with several integrations, it is possible to run the software the way you wish to execute your business. Moreover, if you need access to more controls or functions for your business, you can even ask the vendor to personalize the software for you.
NolaPro is available with a free plan known as Desktop. It is free to use by a single user. It features all payroll functionalities for startups while also supporting a wide range of languages. Some features of the software are:
- Open-source platform
- Customizable solution
- Secure in the cloud
Microkeeper
Microkeeper is a cloud-based payroll software solution that features the integrated time-tracking capability to fit the specifications of any industry. The software has been designed to suit the markets of Australia effectively. Still, the software has been designed to accommodate the policies of other regions and countries.
As a dedicated all-in-one payroll software solution, the software combines all accounting capabilities with the right time-tracking software. Therefore, employees are able to clock in & out seamlessly while allowing the software to calculate the respective billable hours as well as work. On the other hand, administrators can view the overall performance of the entire workforce while getting approvals for leaves and other requests. The software helps in simplifying timesheets as well as payroll procedures through the automatic generation of pay statements depending on work hours, overtime, allowances, breaks, leaves, and absences.
Microkeeper is available with a completely free plan for a single user. Some of the features of the software are:
- Integrated solutions
- Compliance with regulations and laws in Australia
- Consolidated information
Payroll4Free
It is a free online payroll software solution offering a comprehensive range of advanced payroll services for startups and small businesses. The software provides access to the necessary tools required for processing checks of around 25 people. It has a complete set of features that can be enhanced with different integrations.
Amongst its set of dedicated features, the subscription plan of the software offers access to tax calculations, payroll calculations, vacation time tracking, direct deposits, and detailed reporting. It also features a dedicated employee portal such that your employees remain updated on the respective payroll information.
Some advanced features of the software solution are:
- Vacation time tracking
- Simplified tax form filing
- Seamless integrations
Conclusion
Payroll solutions are undoubtedly one of the staple solutions for most organizations. They help significantly improve the way a business tends to process payments while making sure that taxes and salaries of all employees are paid on time accurately. An essential factor to consider while choosing the right payroll software solution for your small business is the cost. The budget of your startup or small business should not hinder your steps toward implementing different software solutions for optimizing payroll processes.
With a wide array of free software solutions, you can definitely come across the best one to fit the unique needs of your company.
