There are a number of options for small businesses wishing to get a solution for their payroll needs.
Financial services providers such as Intuit Inc. have a number of online based payroll offerings where you can set up a payroll online then issue payments via check or direct deposit into a checking account. Online payroll systems have the advantage that you don’t need to install any software on your business computer network. The payroll provider also updates the website to take care of new financial regulations and ever changing tax tables. The system will automatically deduct insurance plan and retirement plan payments. Federal, state and local taxes are also taken care of.
ADP has a similar solution available for small to medium enterprises. The system is designed to be easy to use and no specialist financial knowledge is required.
Small businesses with their own in house accountant or bookkeeper might want to purchase payroll software. Although there is software to install, the advantage is that it can work without Internet connectivity and offers facilities that web based solutions struggle with, such as the ability to print payslips. A popular payroll software solution for UK based users is Sage 50 Payroll. The software is fully accredited with HMRC and handles the increasingly complex payroll calculations that even the smallest business has to deal with.
Finally there is the option of outsourcing the payroll entirely. This allows you to concentrate on running your business while financial experts do your mundane payroll processing for you.