The right tool can help you handle payroll quickly and effectively. As you continue to build your business and scale your company, you will need assistance from a payroll system that can simplify your daily tasks.
Workful is a relatively new payroll service for startups and small businesses. It is suitable for any type of business from any industry, with up to 20 employees. Developed by TaxSlayer, the payroll system allows you to file taxes, track employees' attendance, process payments, run reports, and communicate with your team.
If you are looking for a full-service solution that will add value to your business' day-to-day operations, look no further than Workful payroll service.
Workful was created by TaxSlayer, a tax preparation app that started as a small company in 1965 but soon developed into a well-known business that today serves thousands of customers. Workful made an excellent start, providing something other payroll services in this group don't offer free-of-charge - a time clock built into the platform which supports geolocations. The simple navigation and impressive user interface are a huge bonus to most users. They make it super easy for both experienced and newcomers payroll managers to manage the platform and its other features.
The system is like a mini POS and HR-division that a business owner can use while on the go. Workful payroll service works like any other software - it syncs with the employees' data, allowing small business owners to run payrolls in a few clicks. You can also view, create, edit, and share payroll reports on tax liability, weekly/monthly costs, and timesheets.
Human Resources departments using Workful payroll service can store private documents such as business guidelines, employee handbooks, or expense reports in a safe repository. The platform also regulates time-off requests and tracks workers' schedules, allowing employees to access their PTO balance whenever they desire.
Workful is a cloud-based solution, meaning small businesses won't have to worry about software installation, maintenance, and other technical details. You can access a Workful database from any device and at anytime. Compared to other payroll software solutions, Workful doesn't come with an app for administrators, which is a minor inconvenience. However, most users don't mind using a web browser to access their accounts as long as the process is quick, straightforward, and gets the job done.
If you run a small business, you can definitely take advantage of Workful payroll service. In just a few steps, you can scale up your business by automating the payroll process.
Compared to other payroll services in terms of prices, Workful is much more expensive than the majority of the competition, meaning they don't have a base price like the rest of the payroll solutions. Users are charged $5/employee/month with a $25 minimum charge. It doesn't matter if your business has less than five employees, it is obligatory to pay $25. A price like this makes Workful payroll service one of the most expensive solutions out there.
There is only one all-in-one online payroll service that costs more - QuickBooks, which costs $80/month and $4/employee/month. If we compare payroll services currently popular among small business owners, Patriot Software is the cheapest solution with a pricing plan of $10 per month and $4/employee/month (at this price, the payroll service doesn't submit payroll taxes).
There is a reason why Workful has a higher price than the rest of online payroll services. They try to combine everything from payroll service to employee tools to help small business owners increase their productivity and focus on running their business.
What's included in the monthly price?
Workful payroll service is loaded with useful features, including check printing, 401(k) tracking, tax compliance, W-2/1099 preparation, leave/vacation tracking, and wage garnishment.
The payroll system features a built-in time clock that allows you to set your parameters. A feature like this puts Workful among the best online payroll service solutions, mainly because there is no other system out there that offers the same functionality. All you need to do is add your company's information, office hours, and specify whether you want breaks to be incorporated. The employees should know how they can clock in or out. Workful offers two options: employees can use the company's internet network or clock in and out from one of the office locations. That way, Workful can detect the employees and add them to the system.
Employee Records is another excellent feature that puts Workful among the big players. Users love how the Workful payroll system presents employee details in separate files. Similar to competitors' Time Clock and Expenses, there are six individual department tabs. You can click on the Profile section to add Social Security Number, birthdate, and contact information.
In the Documents section, there is a database for personal files, including employee information, evaluation, and analysis. If one of your employees has submitted monthly costs, you can find them in the Expense section. What's impressive about Workful is how they present the time-off details. If you compare payroll services, you will discover that Workful has the most comprehensive descriptive screen for time-off information. There are three time-off options supported - PTO, sick, and vacation. Below on the page, there is a table that lists the time-off history of all of your workers.
The tax information regarding federal, state, and city taxes is automated. Workful calculates the tax commitments and informs you of the tax filings due, but it doesn't submit the charges automatically, which is a big drawback for the service. Most of Workful's competitors offer the option of sending taxes automatically. With Workful, it is your responsibility to fill in the tax forms and submit them manually.
Another limitation worth exposing is the number of report templates available. Although Workful does offer free report templates, there are only seven for you to use, which is a lot less than what other payroll solutions provide (some competitor sites offer more than 100 report templates). One is a list of workers with their contact information and hiring dates, and others present monthly employee expenses. The reports can only be seen on the site - there is no option to export them to other formats.
Workful supports QuickBooks integration (no other integrations with payroll services are supported). QuickBooks is an accounting system that provides payroll assistance and outsourcing, remote access capabilities, online banking, and electronic payment options. It has email options through Outlook Express and Microsoft Outlook and marketing features through Google, employee time tracking functionality, and much more.
You can set up the integration via your Workful account, and you can assign permissions that allow admins, managers, and owners to access, view, edit, and approve different elements. The options are more specific than those of other competitor online payroll services (such as Gusto). Users can authorize or restrict permissions for particular situations.
With QuickBooks integration, Workful users can:
Workful's flexibility makes payroll processing fast and simple. It is an excellent option for both startups and small businesses, including those with specific, advanced needs. However, in terms of add-ons, it is not the most popular software on the market.
This is largely because everything you need is already included within the software. From payroll to time tracking and employee tools, Workful makes sure business owners have the necessary functionalities to automate the payroll process. The competitors' sites have add-ons to buy, but Workful offers the same and then some more in the monthly plan.
Workful payroll service is an excellent option for small businesses. It is loaded with useful features, is easy to use, and provides you with unique functionalities at no extra cost (time clock, employee portals, employee records, granular user permissions, and much more). While your business is still in its early stages, you may find Workful suitable for your company, but as your brand evolves, you may grow out of the Workful online payroll system. One thing is for sure - as long as you are using Workful payroll service, you can rest assured knowing that your employees will be paid on time every month.