Paychex Review

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Paychex at a Glance

Best for: Businesses with complex tax needs
Price range: From $39/month + $5/person/month
Benefits & HR: Automated HR processes, Support from HR specialist, Document management, Workers’ comp, Unemployment
Automatic tax filing: Yes
Apps: iOS and Android

Features and Add-ons

Paychex’s payroll comes with a range of features to make paying your employees easier and to help you stay compliant. In addition to the ability to run your payroll in a few minutes via the online portal or mobile app, Paychex gives you:

• Built-in safeguards to make sure your payroll is accurate. You’ll get notified of any potential issues before you finalize the payroll, and a pre-check service will look out for any mistakes. 
• Syncing between your Paychex payroll and other accounting and general ledger software, so you don’t need to spend time importing data. 
• Employee self-service with controlled access to their own payroll so they can see paystubs and W-2s, as well as contact administrators through a live chat. 
• Employee Retention Tax Credit services. This helps you work out if this credit can be applied to your business and apply it using your payroll data. 
• Full compliance support from professionals. 

The payroll function is complemented by Paychex’s wider HR solution, which helps you manage your HR functions simply and quickly, with maximum efficiency. Features include the following.

• Data analytics dashboard to explore how your company’s doing across HR functions, with helpful industry benchmarks.
• HR process automation.
• Document management (track renewal times and collect e-signatures).
• Make sure your organization is compliant with professional assessment, education, and worker classification.
• Implement a safety program for your organization with help from experts.
• Dedicated HR professional on hand to support you.

Tax Compliance

Tax compliance is a strong feature of the Paychex service. The payroll software contains automatic tax administration, which will calculate, pay, and file your taxes. With your Paychex subscription, you’ll also have access to dedicated compliance specialists who can help you with federal, states, and local taxes, reporting, and other duties. 

Paychex will also help you work out if you are entitled to tax credits and support you in making your application. This blend of digital and personal support means you can have peace of mind when it comes to meeting your tax obligations. 

Payment Options

Paychex comes with multiple pay options so you can choose the one that suits your business and your employees. You can pay via the web portal or mobile app and choose from direct deposit, paycards, paper checks, and real-time payments. You can even set up pay-on-demand, meaning your employees can be paid before their set payroll date. If needed, you can also delay the taking of funds from your business account for up to 7 days to give you a useful buffer. 

Pricing/Costs & Fees

Paychex offers 3 different plans, each containing a selection of payroll features and aimed at particular business needs. You can sign up for the cheapest plan, Paychex Flex Essentials, online, but for Paychex Flex Select or Paychex Flex Pro, you will need to request a custom quote.

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Usability

The Paychex interface is cleanly designed and simple to use, both on the web portal and mobile app. As it’s an all-in-one solution, you log in to just one account to manage payroll, benefits, and other HR functions. On the other hand, it’s a complex system that does far more than just payroll, so might take time to adjust to. It’s worth noting that, while Paychex offers 24/7 support, some customers have found it hard to reach service representatives by phone. 

Conclusion

Paychex has a wide range of features that can help you run your business smoothly, efficiently, and compliantly. Its key strength is helping you deal with taxes: Paychex not only automates much of the tax process, but also gives you access to specialists, so you can make sure you’re on top of your obligations. The ability to pay employees in a variety of ways is also useful. 

Paychex’s payroll is embedded into its wider HR offering, which supports you with your people management in a variety of ways, from document management to employee safety programs. While this can make the product quite complex, it’s useful to have an all-in-one platform. If your business would benefit from the mixed digital and human touch that Paychex offers, it could be a great choice for you.