When it comes to running a small business, keeping up with payroll can be a daunting task. Luckily, companies like Paychex have stepped up to the plate to offer comprehensive solutions to business owners. This review delves into the benefits of choosing Paychex for your payroll service needs.
In the following video, I share my experience of using Paychex, while also comparing it with other Payroll services like ADP, Gusto, and QuickBooks. It’s important to find a good payroll service that will make doing payroll a breeze for you:
Table of Contents
Paychex: What is it?
Established in 1971, Paychex has been a game-changer in the world of business services, specializing in payroll, HR, and benefits outsourcing. Paychex is known for its commitment to simplifying complex business processes, helping companies focus on their core business. As a testament to its reliable service, Paychex serves over 670,000 payroll clients in more than 100 locations.
Why Do You Need a Payroll Service?
Understanding and managing payroll is crucial for any business, regardless of its size. Efficient payroll management ensures your employees get paid correctly and on time, contributing to their satisfaction and loyalty. Plus, it helps your business comply with legal and tax requirements, preventing costly fines and penalties.
Now, let’s get into business!
Paychex Review
When it comes to payroll services, Paychex is a standout. It offers comprehensive, cloud-based solutions that simplify payroll processing for small to medium-sized businesses. Paychex’s all-in-one platform is user-friendly and easily accessible, making payroll management a breeze.
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Features
Some of the prominent features of Paychex include:
- Automated Payroll Processing: The system does the math and files the necessary paperwork, leaving you with fewer chances of error.
- Integrated HR Services: Paychex doesn’t stop at payroll. It offers HR services, retirement services, and insurance services all in one place.
- Customizable Pay Options: Whether your employees prefer direct deposit, traditional checks, or paycards, Paychex has got you covered.
- Robust Mobile App: Paychex’s mobile app allows businesses to manage payroll on-the-go, giving you the freedom to run your business from anywhere.
Price List
Paychex’s pricing is flexible, with different plans tailored to fit the needs of different businesses. Here’s a snapshot of what you can expect:
| PLAN | PRICE | KEY FEATURES |
| Express Payroll | $60 per month + $4 per person | Basic payroll services, new hire state reporting, free 24/7 support |
| Paychex Flex Select | $90 per month + $5 per person | Payroll tax administration, labor compliance poster kit, dedicated payroll specialist |
| Paychex Flex Pro | $158 per month + $6 per person | Worker’s compensation administration, analytics and reporting |
| Paychex Flex Enterprise | Custom pricing | Advanced HR administration, customized analytics, dedicated HR manager |
Hidden Fees?
While Paychex is transparent about its pricing, there may be additional costs for services like setting up your account or processing W-2s at the end of the year. It’s always best to clarify these details when signing up to avoid any surprises.
Here are some possible “hidden” fees:
- Setup Fees: Some payroll service providers, including possibly Paychex, may charge an initial setup fee to get your business up and running on their system.
- Year-End Tax Form Fees: Paychex may charge an additional fee for processing year-end tax forms like W-2s and 1099s.
- Delivery Fees: If your employees receive physical checks, there could be a delivery charge.
- Rush Fees: If you need to process an off-cycle payroll or need a rush on specific services, there may be an extra fee.
- Amendment Fees: Making amendments to previous payroll submissions, such as correcting errors, might incur extra charges.
- Additional Services: Any services not included in your chosen package, such as HR services, benefits administration, or retirement services, would likely come with their own separate fees.
Remember, discussing these potential fees upfront is the key to avoiding unexpected costs. When signing up with Paychex or any payroll provider, make sure to ask about all possible costs, not just the basic service fees. This helps ensure you clearly understand the total cost of the service.
What People Say About Paychex
Clients consistently praise Paychex for its excellent customer service and intuitive software. The dedicated support team is noted for going the extra mile to ensure all questions are answered and issues resolved. The integrated HR features are another highlight, with many appreciating the ease of managing payroll and HR tasks in one place.
If you’re looking at setting up a 401k for your business and you want more hand-holding, then I would recommend a service like ADP. Overall, we think ADP offers a way better service that will help you make sure your 401k is running smoothly.
Conclusion
Paychex stands as a top-tier payroll service provider, particularly for small to medium-sized businesses. With its vast array of customizable services and sterling customer support, it’s no surprise that so many businesses trust Paychex with their payroll needs; although make sure to check the reviews and issues other people are having, so you can compare those to your needs and see if Paychex is actually the best services to use for your business.
