With the growth in the number of businesses and employment, all business owners must keep their payroll on track. The good news is that most companies are now developing an in-house system to handle these aspects of their operation with little fuss. However, sometimes these systems do not work as they should, and paying employees can be a hassle. To help with this problem, here are the ten best payroll service software, both free and paid.

1. Paychex Flex Payroll

Paychex Flex Payroll is a business payroll service that is entirely customizable. It has a wide range of templates and works with your existing software to make it simple. The system is designed for companies of any size, and its features include flexible time sheets, automation, optional direct deposit, and options for coverage determination. All these are accessible from the front-end web page, which makes it easy for company owners to configure only what they need. Paychex has been offering payroll services for more than 40 years; thus, it is one of the best in the business.

2. TimeTrex

TimeTrex is another great payroll software that offers several features. Its features include a cloud-based platform that allows employees to view their timesheets, schedules, and paychecks from any mobile device. It also has standard payroll features such as direct deposit, paycheck transmission, etc. This software is easy to use and has a comprehensive reporting feature to enable companies to track their attendance; hours worked, overtime, and even absences.

3. Patriot Software

Another great payroll system is Patriot Software. This service is designed to be used by small businesses and individuals. It offers payroll services, online employee scheduling, a mobile app, and tax preparation software. It also provides a payment gateway for taking credit cards for payments. The software only requires that you use an internet connection for its operation and has an available partner program with processors such as Intuit, Nisus, and Payline that offer credit card acceptance in a range of locations.

4. ADP TotalSource

ADP TotalSource is one of the simplest payroll services to use. Its interface is very easy to understand and use. This software has a low interface and is ideal for small business administrators. It supports multiple platforms, including mobile devices, and can be integrated with your existing accounting software. Its features include direct deposit, paycheck printing, and payroll tax filing application programming interfaces (APIs).

5. Gusto:

The Gusto: Payroll and HR is another excellent payroll service. It can be used to manage employees, process payroll and even file payroll taxes. It has a comprehensive management tool that enables companies to review leave balances, track time worked, edit schedules, and even manage vacations in one place. Depending on industry requirements, this software can use either the cloud or on-premise systems. When using this software, you need to provide each employee’s social security number, enabling you to submit their information as part of the federal payroll tax reports.

6. OnPay:

OnPay is another free service that will help you manage your payroll. It offers a range of features, including direct deposit, online and mobile access, as well as the ability to track work hours. It has an intuitive interface that is easy to understand and use. The software is cloud-based, which means it works with all software platforms, including desktops, laptops, and even mobile phones. The company also provides support for managing global payroll benefits or supplies such as telecommuting or onsite child care services.

7. eSmartPaycheck:

eSmartPaycheck is another free software that has a professional interface and features. It has direct deposit, a mobile app, and remote check printing features that can be accessed from home or the office. The system also offers timesheet editing, scheduling, mobile check printing, and access to reports. This software supports various platforms, such as Windows and Mac operating systems, and mobile devices, such as iPhones and iPads. Both enterprise customers and small businesses can use this software for their payroll needs.

8. TimeTrex:

TimeTrex is another useful payroll system. It offers a wide range of features that can be accessed by employees on the very platforms they have access to. This software has accounting features such as a ledger, timesheet, checklist, and a time card import feature. It also has a flexible scheduling system with multiple calendars depending on the type of job an employee does. The system is also mobile-friendly, so you can access your timesheets from anywhere via your phone or tablet.

9. ExcelPayroll:

ExcelPayroll is a Microsoft Excel spreadsheet that you can use to manage your payroll. This software enables you to track employee hours, check on each employee’s payroll and tax information and even calculate their taxes. It is a very flexible tool with options to track time worked, the number of workers engaged in overtime, and even send reminders directly to employees when it is time for them to submit their timesheets.

10. Justworks:

Justworks is feature-rich software that offers payroll, health insurance management, paid time off, and more. It has a very easy-to-use interface with several features. Customization is also available, and the system also allows users to integrate their office applications, such as payroll and accounting software. This software is cloud-based, which means it can be accessed from anywhere on any device. It also includes detailed reports for tax purposes and offers automated payroll taxes, which help you save time when filing returns. The software is simple to use and offers employees a number of features such as direct deposit, scheduled timesheets, time tracking, and overtime management.

Conclusion

There are a number of different payroll services available. These systems make it possible for business owners to manage their payroll, even from remote locations. All of the software listed will provide companies with useful information, such as overtime pay and time worked by employees. They also can print checks and issue direct deposit payments. These payroll services are used in various fields, including healthcare, construction, and education. Whether you need simple software that is easy to use or more comprehensive solutions for more complex businesses, there are options for everyone on this list of the best payroll software.

If you are using the QuickBooks desktop version, you have to use it for daily payroll and bookkeeping services. However, sometimes users want to use the account from anywhere they want. You will get this feature from QuickBooks only. But before you convert the common files, you need to know how much work you have to do to complete the job. Here’s the list of files that you can convert, and the ways you can do it.

1. CHART OF ACCOUNT

You will get a normal account in QuickBooks online, similar to a bank, income, equity, assets, and accounts receivable. But it also has another type, the detail type, which allows the sub-categorization of your accounts in the chart of accounts. The conversion procedure adds generic information in the normal account type, and it can be changed later. You cannot convert the notes and bank account numbers.

2. BILLS AND PAYMENTS

When you have product receipts you can convert them into bills, but you cannot convert the bill received documents. When it comes to the bill payments, if it had a discount added to it, it can be converted as a credit to suppliers.

3. BUDGETS

You will get budgets only on QuickBooks online plus, and you can convert the loss and profit types in QuickBooks online.

4. CHARGES OF CREDIT CARD

You can convert the charges into a cost. When you make the bill payment with credit cards, they get converted into bills.

5. CLOSING DATE

You can convert the QuickBooks desktop dates, but it’s impossible to convert the password associated with it.

6. JOBS AND CUSTOMER

In QuickBooks, you can convert the jobs into sub-categories. It may not be all the information and customer details; you can convert some of it.

7. DISCOUNTS

The discount you have availed with QuickBooks can be converted into the online version easily. If you have discounts from suppliers, they can be converted as the outstanding balance.

8. DOCUMENTS

The documents listed under the company details will not get converted with the attachments with the documents.

9. FINANCIAL FEES

Existing charges can be converted to QuickBooks invoices, and you will not lose any data. QuickBooks Online recently does not have a process for assessing the charges for late payments, but you can check the report to see the customer dues and then you have to manually add the fees that will show up on the next invoice.

10. GROUP PRODUCTS

When you have group products in the desktop version, you can convert them to the items and services list. For group items and sales transactions, it will convert as packages. For purchase functions, all items will be converted.

11. INACTIVE THINGS ON THE LISTS

If you have vendors, customers, and accounts that are inactive or you don’t use them anymore in the data file of QuickBooks, you can convert them to the online plus account of QuickBooks as active things. If there’s no balance attached to the items, they will be labeled as inactive in the online version of QuickBooks.

12. INVENTORY

QuickBooks online plus has an inventory option. It uses the first in first out system for accrual. Only Windows desktop can convert the data to the online plus version of QuickBooks, MAC will not work. When you choose the inventory import option, you will have to select a date, and this is the software that will use to make the FIFO-based calculations.

13. FILE REPORTS

QuickBooks online version allows you to file and memorize the reports, but these memorized reports will not get converted from the desktop version. You have to recreate them in the online system and select the memory option.

14. VARIOUS CURRENCY

This is only available in the online version of QuickBooks. You can import it online only. However, you can create transactions in the desktop version but the online version will not support it. When you make transactions using three currency types, it will not be converted to the online version.

15. PAYROLL

For this, you have to fill up an online form to complete the functions after importing the data and then you can create the first check. Payroll details are limited when the conversion process is still on, and the checks will get stored as regular paychecks.

16. ONLINE BANKING

Credit card and bank accounts set up for bank feeds can lose the connections when it gets converted. Moreover, the bank rules will not change.

17. PROGRESS INVOICING IN QUICKBOOKS ONLINE

This is the latest option in QuickBooks online. You can progress the invoice and convert them easily from the desktop.

18. PURCHASE ORDERS

QuickBooks online plus has the purchase orders feature. You can import the orders that are already closed and they will not get attached to bills anymore.

19. PAYMENTS IN QUICKBOOKS

To make the payments in the online version, you have to create a merchant service account in the software, and you have to close the desktop account once the new one is ready to work.

20. RECEIVE PRODUCTS

The ways you receive products in the desktop version of QuickBooks are converted into bills. You have to check the bills and bill payment details for this.

21. RECONCILIATIONS

You cannot convert the past reconciliation reports, but the transactions attached with the reconciliation in the checklist will have an “R” in the column of QuickBooks online. So, this way you will identify which data has to be reconciled.

22. RECURRING TRANSACTIONS

You can import the data if you have QuickBooks plus and the essential support for recurring transactions. However, if you use the lower version of QuickBooks online, it will not support recurring transactions. So, before you import the information delete the templates to avoid errors from the system.

23. REPORTS

Online QuickBooks has a different report system. Some are the same as the desktop, but others are slightly advanced. The accrual reports will be almost the same for the items, but the cash basis will not match. So, you need to check the conversion before you select the option.

24. TERMS

The desktop and online features are almost similar. You can import the terms without changing them, but it will have other added terms.

25. VENDORS

The data of your vendor or supplier will get converted from the desktop version to the QuickBooks online.

CONCLUSION

You can convert files from the QuickBooks desktop version to the online one. This will help you access the details wherever you go and anytime you want to check them. Some items cannot be converted, check the QuickBooks terms and rules or raise a question in the QuickBooks forum.

Tax and accounting are some of the most important aspects of a business. Proper management of these aspects guarantees success and the best returns. Nevertheless, you may find it more challenging to manage your tax and accounting departments as your business grows. You have to deal with numerous tasks and huge data. How can you manage your tax and accounting as the business grows? Technology advancements have led to the emergence of various software to make work more streamlined and easier. In this review, we will walk you through the best tax and accounting software with prices.

1. Quickbooks

Quickbooks is a popular cloud-based accounting software that businesses have used for a long time. Its numerous features make it the best tool for small and medium-sized businesses. What are the features of Quickbooks? The software includes expense tracking, invoicing, payroll management, etc. Besides the numerous features, Quickbooks allows numerous integration with other systems, including CRM systems and payment processing. The software has varying pricing plans; you can pay $30 for a Simple Plan, while the Advanced Plan is $200 per month.

Pros

● Comprehensive tax and accounting solution for small and medium-sized businesses

● Offers numerous features, including payroll management, expense tracking, and invoicing

● Allows integrations with other systems, such as CRM software, payment processing, etc

Cons

● The tool can be time-consuming and complex to set up

● High prices for start-up businesses

2. Xero

In recent years, Xero has developed into one of the top cloud-based accounting and tax software. Why has the software become popular among users? Xero has numerous features like expense tracking, payroll management, and invoicing that are key in most businesses. In addition, it allows you to integrate it with other systems or plans, including the payment processing system. Xero allows customers a 30-day free trial, after which they choose the appropriate plan. You can consider the early plan at $13, growing at $37, and established at $70 per month.

Pros

● All the pricing plan supports unlimited users.

● It has various tools like an excellent mobile app, capable invoicing features, automatic bill, and receipts.

● Numerous third-party app integrations

● Easy-to-use and simple layout

Cons

● It doesn’t provide a working customer support number

● Limits on the invoices and bills

3. Zoho Books

Zoho Books is a popular and more detailed accounting software ideal for small and medium enterprises. Why should you consider this tool for your business? The software has more than 50 account features and reports that benefit a brand selling physical products. It’s also the best choice when trading across countries or continents, and you’d like a fully-featured product. You can enjoy the 14-day free trial period the software offers. Afterward, you can subscribe to the standard, professional, and premium at $20, $50, and $70 per month.

Pros

● Offers more than 16 invoicing templates and 50 financial reports

● It has numerous functional and more detailed features

● Advanced workflow and automation to save time

Cons

● Only offers a 14-day trial

● More complex to learn and use its features

4. Wave

Wave is a well-integrated and free business platform that helps you combine invoicing, receipt scanning, and accounting into one package. These features make it the best software for small and start-up businesses. It has an easy-to-use and setup system, having a navigable dashboard. The tool helps to simplify the invoicing and accounting processes to keep distractions that come with chasing payment, managing taxes, and monitoring employees. While you can enjoy 100% free features, you must pay $20 to access the plan with payroll.

Pros

● Best free option for businesses that don’t require payroll or payment

● Smart features for small and start-up businesses

● Great dashboard

● Excellent transaction and invoice management

● Multi-Currency support

Cons

● Sparse record templates

● Slim features for mobile app users

5. FreshBooks

It’s one of the best accounting and tax software for small businesses. With its customizable invoicing tools and solid phone support, it stands out as the best alternative for independent contractors and freelancers. While the developers started it as a solution to manage invoices, it has scaled up to be one of the best accounting tools. Freshbooks allows integration of over 100 third-party applications, including point-of-sale integrations and unlimited choices for direct payroll. The software allows a 30-day trial. You can subscribe for the lite, plus, and premium at $15, $25, and $50 per month, respectively.

Pros

● Supports users with mobile phones

● A better alternative for freelancers and independent contractors

● Robust invoicing services

● Mileage and time-tracking tools

Cons

● Limits the number of clients and users

● The lite plan lacks the double-entry features

6. Sage 50 Cloud

It’s one of the locally installed tax and accounting software offering advanced tools, traditional accounting options, and high customization. What makes it a popular choice? Sage 50 Cloud has various tools like a cash flow manager, reporting, and inventory tool that make it popular. With these features, it’s the best tool for small businesses to enhance sales optimization, payroll, invoicing, expense management, and reporting. Sage 50 Cloud has three subscription plans, where you pay annually or monthly. Depending on your needs and preferences, you choose the pro version at $5.18, the premium plan between $92 to $211.67, or the Quantum plan between $152.42 to $280.6 per month.

Pros

● Straightforward and simple to use

● Allows remote access

● Great program layout

● Accessible customer support service

● Strong inventory management capability

Cons

● Limits the features you access remotely

● Expensive for multiple users

7. TaxAct

TaxAct is a popular tax preparation tool suitable for individuals or start-up businesses. What are the key features of this tool? This tax software includes numerous tools, like e-filing, audit support, federal and state tax preparation tools. Besides the taxing benefits, TaxAct is vital for accounting for small and start-up businesses. Depending on your needs, you can consider the free or paid plan. The paid plans include deluxe at $24.95 to $44.95, premier at $34.95 to $44.95, and the self-employed plan at$64.95 monthly.

Pros

● It has four plans, including a free federal option

● Intuitive and simple interface

● Has a comprehensive range of tools for tax preparation

● Tax return and e-filling tracking feature

● Instant and free access to a tax expert

Cons

● The tool may not have a comprehensive tax preparation process

● Some users have issues with the customer support and user interface

Summing Up

Choosing the right tax and accounting software for your business can be a daunting task. However, it’s important to consider one with features that suit your needs and budget. Above is a review of the best tax and accounting software with prices you can choose for your business. It’s important to take the time to research and compare them to find the one that suits your business requirements and preferences.

QuickBooks helps small businesses to settle their finances and to keep things in order. For many years, the company is assisting businesses to solve their bookkeeping issues, but not everyone mastered the right ways to use QuickBooks. People keep making mistakes and here we are going to point out such 13 errors with their fixes, so you can get things straight the next time you use QuickBooks.

WHAT IS QUICKBOOKS?

QuickBooks is a popular accounting software developed by Intuit, which is an American company. This software has a desktop and is online with a cloud platform so small businesses can have the convenience of bills and payments. The company targets medium to small-sized companies because these businesses require affordable yet solid bookkeeping solutions. Users get time tracking options with electronic funds authorization and more.

13 COMMON QUICKBOOKS ERRORS AND HOW TO FIX THEM

If you are new to QuickBooks, it’s important to know the mistakes people often make with the software. Let’s know about the 13 mistakes from the below points.

1.A MESSY CHART ACCOUNT- If you have a messy chart account, it’s time to clean and arrange them. You can set them in a similar group, and keep it simple. Having too many accounts can be confusing at times. So, when you provide the data, ensure that the lowest account instead of the main one.

2. CREDIT CARDS AREN’T RECONCILED- before using QuickBooks, make sure to use the reconciliation module for your balance sheet accounts, loans, and credit cards. This will keep the better health for your company.

3. DEPENDING ON THE BANK FEEDS- You will get the best advantage of setting up the bank transactions with QuickBooks. However, it’s not always accurate, you may get duplicate transactions or when there are missing transactions. This can be bad for your finances and can harm the records.

You need to check the balances with information from QuickBooks. If the two accounts do not match, you need to identify the problem.

4. NOT UPDATING ACCOUNTS REGULARLY- you have to update your records regularly and QuickBooks can help you with that. But people tend to do this mistake a lot, and this can result in a misunderstanding at the end of the month or year. It can also end up in a shortage of cash for the company.

You need to implement the daily update process with QuickBooks. This can be hard when you have to take care of other jobs. So, you can always outsource an accountant for this.

5. HAVE A PERFECT CHART- you need a good chart for your accounts. Take a look at the accounts first and then arrange them. QuickBooks can help you with this. Ask your employees to help you with the process.

6. ACCRUAL REPORT GENERATION- businesses mostly use the cash basis process to report financial details. Here the expenses and revenue are reported at the time of receiving cash and making payments. The Accrual process is used to identify the expenses and the revenue when they occur. With the help of QuickBooks, you can switch these reports from Accrual to cash using just a simple click. However, if you are using the wrong process, this can end up in the understatement or the overstatement of the tax liability, and this can very expensive.

You need to solve this issue carefully. You can use Accrual or cash basis method on QuickBooks, so the software can generate reports automatically. You have to make sure to switch the function to cash before the report goes to IRS.

7. PRINCIPAL LOAN PAYMENT AS THE EXPENSES- When you take a loan for the company, you must record the loan balance in the balance sheet as a long or short term based on the type of loan. When you make the payments to the lender, each of them will be broken down between principal and interest payments.

To fix this, you have to keep track of the interest payment of the loan as the cost of the business in the main loan repayments and the income records, this will decrease the balance and it has to be on the balance sheet.

8. JUMBLED ITEM LIST- QuickBooks refers to the products you are selling as items. You can settle the inventory the way you want, but if forget to update them, it can be an issue with your company accounts. You can clean the item list in the following method.

Deactivate the products you don’t deal with anymore, and make sure to level the items with non-inventory and inventory. Check the amount you have in stock. Keep the expenses updated, and tag the products with the right cost and revenue accounts.

9. NOT AVAILING THE PURCHASE ORDER PROCESS- Like you, many businesses fail to use this function while dealing with QuickBooks. You can fix this by creating a PO each time you purchase from a supplier. Ensure the item is received against the PO only. When checking the report, the entries shouldn’t more than one year old.

10. WRONG USAGE OF THE UNDEPOSITED MONEY ACCOUNT- If you have received the payments from customers but the money isn’t showing on the records, then there is a fault.

When you get payment from customers, open the batch checks and deposit system at the same time, and keep them together in an individual deposit in QuickBooks. You can also raise a query in the QuickBooks forum, to get more help.

11. WRONG PREFERENCE SET UP You need to set up your preferences. You have to set up default bank records for receiving checks and paying bills. Reporting various options, finance fees for late payments of the customers, and email templates.

12. REPORT SETTING ISN’T CORRECT- You have to ensure the report setting is right. You need to check the method you want.

For cash, reports check the money transaction of your company. Otherwise, display the entire performance of the company.

13. NO PASSWORDS, PERMISSIONS, OR USER ROLES- If you know people working in QuickBooks, you have to give them the online profile information of your employees. This will offer better transparency and control over the functions of your financial records.

CONCLUSION

QuickBooks offer better help for medium to small companies. If you are using the latest version of QuickBooks, it’s best to check these mistakes, and you can always take help from the online forum.

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