The Very Best Payroll Software for Contractors in 2024

QuickBooks - For Streamlined Accounting and Payroll Management

QuickBooks delivers sophisticated accounting solutions tailored explicitly to small businesses, covering areas such as bookkeeping, invoicing, expense monitoring, and payroll management. Its scalable plans are developed to streamline business finance management, along with offerings like live expert assistance to facilitate set-up and ongoing tasks.

Key features include automated bookkeeping, income and expense tracking, invoice management, and more. Users can generate several types of reports to monitor sales, track taxes, or analyze financial plans and project profitability. The functionality of QuickBooks extends with its capability to collaborate and integrate with popular apps, ensure on-the-go access through mobile apps, and customizable user access controls. It also offers full-service payroll functions and provides continuous support to its users.

QuickBooks offers a variety of pricing plans starting from $35 per month, with discounted rates available for the initial months. Each plan offers different feature access, catering to varying business needs. Additional benefits are granted with premium plans, which include advanced features like workflow automation.

With a dynamic range of features and dedicated support for business financial management, QuickBooks is a trusted choice for small businesses and teams worldwide.

Benefits:

• Streamlines financial management processes.
• Elevates the quality and accuracy of accounting reports.
• Saves time on bookkeeping and payroll tasks.

Simplified Pricing Info

Bookkeeping & Accounting: Provides automated bookkeeping, income and expense tracking, invoice and payment management, bank reconciliation, tax deductions, mileage tracking, receipt capture, and cash flow management.

Reports & Analytics: Offers general, enhanced, and comprehensive reports. Sales and sales tax tracking. Financial planning and project profitability analysis (higher-tier plans).

Collaboration & Integration: Integrates with popular apps such as QuickBooks Payments, Mailchimp. Free mobile apps for on-the-go access. Supports multiple user access (based on plan). Advanced plans with custom access controls and workflow automation.

Payroll & HR: Full-service payroll included in bundled plans. Automated payroll tax payments and filings. Next-day direct deposit. Employee portals.

Expert Assistance: Free 30-day setup assistance and bookkeeping help. Virtual session for setting up QuickBooks Online. 24/7 support based on plan.

Affordable Pricing Plans: Multiple plans such as Simple Start, Essentials, Plus, Advanced, and QuickBooks Plus & Payroll Core at discounted rates for the initial 3 months.

Promotions & Support: 50% off for the first 3 months across all plans. 30-day free trial for new users. Free 30 days live expert assistance for QuickBooks Online subscriptions. 24/7 premium support in higher plans. Convenient cancellation policy with no contract required.

Additional Notes:

Free 30-day trial is available for new users across all QuickBooks plans. Four primary pricing plans: Simple Start, Essentials, Plus, and Advanced with promotional prices starting from $17.50/month. Simple Start includes basic bookkeeping and 1 user access. Essentials includes bill management and 3 user access. Plus offers inventory tracking and 5 user access. Advanced includes advanced features like custom access controls with up to 25 user access. Enhanced payroll management is available with QuickBooks Plus & Payroll Core at $74.50/month for the first 3 months. All pricing plans include a free setup assisted by a live expert for 30 days. Higher-tier plans offer 24/7 premium support. Users can cancel subscriptions anytime without penalty fees.

Gusto - Simple Payroll and HR Solutions

Gusto is a robust online platform tailored to assist growing businesses with payroll, HR, benefits, and other essential administrative tasks. Widely used across various sectors, Gusto offers comprehensive solutions to streamline employee management and business operations. Renowned for its excellent support and user-friendly interface, Gusto caters to firms of all sizes and complexities.

Gusto offers different pricing plans to suit various business needs. The Simple Plan, priced at $40/month plus $6/month per person, is ideal for new businesses and startups operating in one state. It includes automated payroll and essential HR tools. The Plus Plan, costing $60/month plus $9/month per person (discounted from $80/month plus $12/month per person), is best for businesses running payroll in multiple states. It features built-in time tracking and access to a dedicated success liaison.

Key features of Gusto encompass:

• Payroll Management: Automated and multi-state payroll capabilities ensure swift and compliant payment processing.
• HR Tools: Includes job and applicant tracking, custom onboarding checklists, and comprehensive time-tracking functions.
• Benefits Administration: Health insurance administration without extra costs and support for other employee benefits like retirement plans.
• Employee Onboarding and Management: Simplified employee self-onboarding and efficient management of employee details.
• Customer Support: Offers a dedicated success liaison for Plus plan users and robust support resources available from Monday through Friday.
• Integration and Compliance: Ensures compliance with payroll and tax regulations, and smooth integration with various business tools.

An additional tool in Gusto’s ecosystem is the Gusto Wallet app, assisting employees in managing their finances with functionalities like early pay and budgeting tools. Signing up for Gusto is free, with subscription plans becoming active upon running payroll. Gusto is highly recognized, earning accolades such as #1 Best Software for Small Business for 2024 and Most Innovative Companies in HR for 2024.

Benefits for businesses using Gusto include:

• Streamlines Payroll Processing: Automated payroll simplifies the task and reduces processing time.
• Elevates HR Management: Comprehensive management tools improve overall HR functionality.
• Saves Time: Efficient onboarding and integrated tools save significant time for businesses.

Simplified pricing info:

The Simple Plan: $40/month + $6/month per person, ideal for new businesses and startups.
The Plus Plan: $60/month + $9/month per person, suitable for businesses running payroll in multiple states.
The Premium Plan: Exclusive pricing for businesses with complex needs; contact Gusto directly for details.

Designed to simplify HR, payroll, and benefits management, Gusto is a trusted resource that enables businesses to focus on growth and their core operations.

ADP - Comprehensive Payroll and HR Management Solutions

ADP (Automatic Data Processing) offers a comprehensive suite of HR and payroll solutions designed to cater to various business sizes and needs. Leveraging advanced automation and analytics, ADP streamlines payroll processing, HR management, and compliance, ensuring accuracy and efficiency.

ADP's services are tailored to fit the needs of small businesses (1-49 employees), mid-sized businesses (50-999 employees), and large enterprises (1000+ employees), making it a versatile solution for companies of all scales. Their payroll solutions include automated payroll processing, tax compliance, direct deposit, and robust payroll reporting. For HR management, ADP provides tools for employee data management, benefits administration, onboarding, and performance management. Their talent management features aid in recruiting, talent development, and succession planning, empowering businesses to manage their workforce effectively.

Furthermore, ADP offers time and attendance tracking, benefits administration including retirement plan options, and compliance management to help businesses stay aligned with labor laws and regulations. The ADP Mobile Solutions app enhances accessibility by allowing employees to view pay statements and benefit information, track time, and request leave, while managers can approve time cards and access executive dashboards.

One of the key strengths of ADP is its detailed analytics and reporting capabilities, providing managers with insights into workforce performance through executive dashboards and HR analytics. Their client support includes a team of knowledgeable experts ready to assist with any inquiries. ADP's solutions are designed with a user-friendly interface, multi-language support, and seamless integration with other ADP products such as Workforce Now, Vantage, Portal Self Service, and TotalSource. Security is a priority, with data encryption and secure login options like Touch ID and Face ID in the mobile app.

For businesses looking to adapt and thrive, ADP offers a powerful suite of HR and payroll solutions backed by technological innovation and expert support.

Benefits:

• Streamlines payroll processing and HR management.
• Elevates workforce management and compliance.
• Saves time with automation and advanced analytics.

Simplified Pricing Info

To get tailored pricing for ADP's payroll and HR solutions, start by selecting your business size: 1-49 employees, 50-999 employees, or 1000+ employees, on their website. You may request a demo, which includes a consultation with an ADP representative to discuss specific business needs and receive a customized quote. For direct inquiries, utilize the contact options on the ADP website to obtain detailed pricing information.

eBacon - Transform Your Construction Payroll and Compliance

eBacon is a robust, cloud-based software solution designed to streamline payroll, compliance, and employee management for businesses, particularly within the construction industry. With a focus on adhering to federal and state regulations, including the Davis-Bacon Act and the Service Contract Act, eBacon helps contractors and businesses ensure compliance while simplifying complex administrative tasks.

One of eBacon's standout features is its Certified Payroll Submission, which automates the preparation and submission of certified payroll reports to meet prevailing wage laws. Paired with Workflow Management, eBacon facilitates smoother processes for payroll, timekeeping, and compliance efforts, making day-to-day operations more efficient. Additionally, Contract Compliance tools help ensure all contractual obligations are met, while Smart Fringe Management allows for accurate allocation and reporting of fringe benefits.

Benefits for Your Business

• Streamlines payroll and compliance processes: With Certified Payroll Submission, Workflow Management, and Contract Compliance tools, your engagement with payroll becomes seamless and efficient.
• Elevates employee management quality: Features like Onboarding, Performance Management, and Training Management ensure comprehensive oversight and support for your workforce.
• Saves time on administrative tasks: Automated processes for payroll preparation and custom forms improve operational efficiency, freeing up more time for strategic activities.

Simplified Pricing Information

eBacon offers custom pricing for its comprehensive suite of services, tailored to the unique needs of each business, particularly those in the construction industry. Potential customers are encouraged to contact eBacon directly through their website's contact form, by calling their office, or by requesting a personalized quote to receive accurate pricing information that reflects their specific requirements.

As part of its pricing strategy, eBacon ensures dedicated support and full-service administration to help businesses remain compliant with federal and state regulations, including the Davis-Bacon Act and the Service Contract Act, maximizing the value provided to clients.

Payroll4Construction - Specialised Payroll For Construction Industry

Payroll4Construction is a specialized payroll service meticulously engineered to address the unique complexities of the construction industry. Renowned for its industry-specific design, Payroll4Construction expertly manages prevailing wage rates, union fringes, and multiple trades and tax jurisdictions, simplifying payroll processes for construction companies. The platform offers a robust suite of features tailored to cater to the needs of contractors and construction professionals, ensuring accuracy and compliance in payroll management.

Among its core capabilities, Payroll4Construction handles standard payroll tasks such as check processing, direct deposits, W-2 generation, and automatic electronic tax filing. The service also excels in managing automated pay rates and taxes across various trades and jurisdictions. In terms of compliance, it generates certified payroll reports and offers over 40 additional reporting options, including workers’ compensation, job costing, and EEO reports, all of which are available for free.

Payroll4Construction is designed to integrate seamlessly with accounting software like FOUNDATION, QuickBooks, and Sage, reducing the need for redundant data entry and ensuring that job costing and general ledger data are always up-to-date. Its mobile app facilitates timecard entry and approvals from the field, while the eAccess app provides employees with an online portal to access their paystubs and history.

Clients benefit from unlimited support from knowledgeable payroll experts and exclusive savings for ABC members, including free setup and training valued at up to $1,500. Additional services such as handling child support and garnishments, ACA, and W-2 services, as well as HR and fringe management, further enhance its utility.

Designed to simplify and streamline construction payroll processes, Payroll4Construction helps contractors maintain compliance and improve efficiency, making it an indispensable tool for construction industry payroll management.

Benefits for Your Business

• Industry-Specific Design: Payroll4Construction is tailored to handle the unique challenges of construction payroll, including prevailing wage rates, union fringes, and multiple trades and tax jurisdictions.
• Payroll Processing: Handles checks, direct deposits, W-2s, and automatic electronic tax filing. Manages pay rates and taxes for multiple trades, jobs, and jurisdictions.
• Reporting and Compliance: Generates certified payroll reports, including pre-formatted print and electronic formats like LCP tracker, e-MARS, and DIR. Offers over 40 reporting options including workers’ compensation, job costing, EEO, new hire reports, and more. Provides free certified payroll, EEO, minority compliance, and other construction-specific reports.
• Integration with Accounting Software: Seamlessly integrates with FOUNDATION accounting software, eliminating the need for imports or exports and automatically updating job costing and general ledger data. Also integrates with other accounting software such as QuickBooks and Sage, reducing double entry and streamlining business processes.
• Mobile and Online Capabilities: Features a mobile app for timecard entry and approvals, allowing contractors to manage payroll data from the field. Provides an online payroll portal for employees to access paystubs and pay history.
• Support and Training: Offers unlimited support from real, live payroll experts. Exclusive savings for ABC members, including free setup and training valued up to $1,500.
• Additional Features: Handles child support and other garnishments. Provides ACA and W-2 services. Offers HR and fringe management services.

Simplified Pricing Information

• Free setup and training for ABC members, valued up to $1,500.
• To obtain detailed pricing information, please contact Payroll4Construction directly or request a quote through their website.
• Users can visit the Payroll4Construction website or call the provided number to get a free comparison quote.
  

Benefits of Using Payroll Software for Contractors

• Time Savings: Automate payroll processes to reduce manual data entry and minimize errors. Quickly generate and distribute pay stubs and tax forms.
• Cost Efficiency: Lower administrative costs associated with payroll processing. Access affordable, scalable solutions suitable for contracting businesses of all sizes.
• Accurate Record-Keeping: Maintain precise records of payments, deductions, and compliance. Efficiently manage historical payroll data for audits and reporting.
• Compliance Management: Stay updated with federal, state, and local tax regulations. Automatically calculate and withhold appropriate taxes to avoid penalties.
• Flexibility and Customization: Customize payroll settings to cater to different contract terms, pay rates, and schedules. Integrate with various accounting software and project management tools.
• Improved Security: Secure sensitive payroll data with advanced encryption and access control features. Regular software updates to protect against security vulnerabilities.
• Ease of Use: User-friendly interfaces that require minimal training. Accessible customer support for troubleshooting and queries.
• Real-Time Financial Insights: Generate detailed payroll reports to gain insights into expenses and cash flow. Monitor payroll status and transactions in real-time for better financial planning.
• Employee Self-Service: Provide contractors with access to their pay stubs and tax forms through a secure portal. Enable employees to update personal information, saving administrative time.
• Scalability: Easily manage payroll for a growing number of contractors and projects. Adapt to seasonal or project-specific workforce changes without hassle.
• Mobile Access: Manage payroll on-the-go with mobile app functionality. Provide contractors with mobile access to payment records and timesheets.

Frequently Asked Questions

Q1: What is payroll software for contractors?

A: Payroll software for contractors is a specialized tool designed to help businesses that employ contractors manage payments, tax filings, and compliance. This software streamlines the processes surrounding payment calculations, time tracking, and tax deductions, ensuring that contractors are paid accurately and on time.

Q2: Why do I need payroll software for managing contractors?

A: Managing contractor payments manually can be complex and time-consuming, particularly when dealing with multiple contractors, varying pay rates, and different tax obligations. Payroll software automates these tasks, reduces errors, ensures compliance with labor laws, and generally simplifies the entire payroll process.

Q3: Can payroll software handle tax filings for contractors?

A: Yes, most payroll software solutions are equipped to handle tax filings for contractors. They can generate the necessary tax forms, such as 1099s in the U.S., and ensure compliance with federal, state, and local tax regulations. This feature saves significant time and reduces the risk of tax-related errors.

Q4: How does payroll software benefit small businesses?

A: Payroll software benefits small businesses by streamlining payroll processes, reducing administrative tasks, minimizing errors, and ensuring timely and accurate payments. This helps small businesses save time and resources, allowing them to focus more on core business activities.

Q5: Is payroll software secure?

A: Yes, reputable payroll software solutions employ advanced security measures, such as data encryption, secure server hosting, and regular security updates, to protect sensitive financial and personal information. Always ensure that the software provider follows industry best practices for data security.

Q6: How user-friendly are these payroll software solutions?

A: Most modern payroll software solutions are designed with user-friendliness in mind, featuring intuitive interfaces, helpful tutorials, and customer support. Many offer easy integration with existing accounting and HR systems, making it simpler for users to adapt to the new software.

Q7: Can payroll software integrate with other business systems?

A: Yes, many payroll software options offer integration capabilities with various accounting, HR, and project management systems. This allows for seamless data transfer and streamlines business operations, enhancing overall efficiency.

Q8: What should I consider when choosing payroll software for contractors?

A: When choosing payroll software for contractors, consider factors such as ease of use, cost, customer support, features (e.g., tax filing, reporting, time tracking), security measures, and integration capabilities. Additionally, look for software that can scale with your business as it grows.

Q9: Are there payroll software solutions specifically designed for certain industries?

A: Yes, there are payroll software solutions tailored to specific industries. These industry-specific solutions often include features and tools designed to address unique payroll challenges and compliance requirements of those sectors, providing a more customized and effective payroll management experience.

Q10: How often are software updates and support provided?

A: The frequency of software updates and the quality of support depend on the software provider. However, most reputable payroll software companies offer regular updates to improve functionality and security, as well as dependable customer support to assist users with any issues or questions.

Q11: Is there a trial period or demo available before purchasing?

A: Many payroll software providers offer a free trial period or a demo version of their software. This allows potential customers to test the features, interface, and overall functionality before committing to a purchase, ensuring that the software meets their needs.

Q12: Can payroll software help with contractor agreements and contracts?

A: Some advanced payroll software solutions offer features that assist with managing contractor agreements and contracts. These may include tools for creating, storing, and managing contracts, as well as tracking contract terms and expiration dates.