- Affordable payroll services
- App demo
- Online information
Paychex offers some of the most affordable payroll services in the industry. While we couldn't find exact information for pricing on their website, we found the businesses using Paychex were pretty happy with prices. For a business with 5 employees, you'll probably pay about $100 per month for bi-weekly payroll processing. Also, we found that W-2 processing was pretty affordable, with a $40 one-time fee and an additional fee of $2.50 per employee.
We really liked the fact that Paychex had a demo of their app on their website. We found that it had the following features:
- Human Resources
- Employee Benefits
Essentially, Paychex lets your employees see their paycheck and benefits information online. It is also possible to process timecards and do other "standard" payroll processing functions. On the app demonstration, we saw that Paychex is working on a mobile time clock, letting employees clock in/out of work. We also liked that the mobile app let managers send information, such as a simple email message, if an employee had a question about their benefits or pay.
We were interested in the QuickBook features that came with Paychex. On the Paychex website, we found a webinar for how to export reports from Paychex for fast import into QuickBooks Pro and other popular accounting platforms.
While we weren't able to see how the hiring side of Paychex worked, we learned that Paychex lets users:
- Find best-fit and competitive candidates.
- Improve the candidate search process.
- Hire candidates more efficiently.
- Help reduce hiring costs.
Paychex also does other important HR features, like put employee handbooks in an easy-to-find location, conduct assessments, and communicate important company policies.
Another benefit of Paychex was the company's payroll platform permissions feature. The online dashboard is fully customizable, letting you optimize your HR workflow. You can also empower different users in your company to access important information. The Paychex Report Center can let you share reports with:
- Business Advisors.
We also liked the reports available with the Report Center:
- Employee Earnings Record, including year wages, W-4, hourly rate,and salary history.
- Quarterly and annual tax information.
- W-3s, W-2s, and 1099s.
- Access to two years of payroll history.
Another positive aspect of the Paychex experience was the website. We found support and tutorials for various processes, such as adding employees to your payroll. While the online interface isn't perfect, the tutorials are extremely helpful for HR professionals who have to navigate the learning curve.
Finally, we were able to check our computer's abilities against Paychex's minimum system requirements. To work Paychex, your computer needs the latest edition of Safari, Chrome, Firefox, or IE. We found that with Paychex's minimum system requirements, most businesses won't have a problem using their desktop or mobile device.