Accountants are responsible for assuring accuracy and compliance in all monetary affairs, including payroll, in the complex world of finance. Payroll is more than simply dispersing pay or salaries. It entails following constantly changing tax rules, handling employee benefits, and maintaining perfect record-keeping. This intricacy necessitates specialized payroll software designed to fulfill the specific needs of accountants.

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Why Accountants Need Specialized Payroll Software

Dealing with Compliance

Compliance can be a complex subject to tackle. Tax regulations and employment laws are constantly changing. Accountants must keep up with these changes in order to avoid severe penalties for noncompliance. Specialized payroll software is built with compliance in mind, and it is frequently updated to match the most recent tax rules and reporting requirements. This function is critical for accountants who must keep their customers on the right side of the law.

The Benefits of Automation

Payroll processing by hand is not only time demanding, but also prone to human error. Payroll software automates some of the most difficult portions of payroll processing, such as calculating deductions and generating pay slips. This automation simplifies the payroll process, lowering the amount of time accountants spend on these duties and reducing the possibility of errors. Accountants can focus on more strategic financial activities that provide value to their client’s businesses by freeing up important time.

Improving Accuracy and Security

Payroll accuracy is paramount. A single error can have far-reaching implications, ranging from employee unhappiness to legal ramifications. Payroll software improves accuracy by removing the need for manual data entry and calculations. Furthermore, with increased worries about data security, these software solutions include comprehensive security features to protect sensitive data from unauthorized access and cyber-attacks.

Enhancing Client Satisfaction

Accountants must provide great service to retain clients and attract new ones in today’s competitive industry. Client-facing portals are frequently included in specialized payroll software, allowing for smooth cooperation and communication. Clients can access payroll reports, provide payroll inputs, and recover historical data using these portals, which increases transparency and trust between accountants and their clients.

Key Features to Look for in Payroll Software for Accountants

Accountants should search for payroll software that includes a variety of features that help streamline payroll processing. Here are the essential characteristics that set great payroll software apart in the accounting industry:

Comprehensive Integration Capabilities

The most effective payroll software should work in tandem with existing accounting and software systems. This integration allows for a unified approach to financial management in which data can be used between systems, avoiding the need for duplicate entries and enabling real-time financial analysis.

Robust Tax Filing and Compliance Tools

Given the importance of compliance in payroll processing, top-tier software should include powerful features for automatically calculating taxes, filing required papers, and keeping track of various compliance deadlines. These tools should be updated on a regular basis to reflect the most recent tax rules and regulations.

Customizable Payroll Reports

Accountants are frequently required to prepare specific reports for analysis or in response to customer demands. Payroll software should allow for report customization, allowing accountants to highlight the information that is most important to them. Customizable reports are an essential tool, whether it’s a detailed breakdown of labor costs or a review of year-to-date payroll spending.

User Access Levels and Security

Payroll software must have strict security processes in place since sensitive data is at stake. This includes the ability to configure several user access levels, ensuring that users only have access to the information required for their function. To safeguard data integrity, the software should also use encryption and other security measures.

Support and Training Resources

Even the simplest software can pose difficulties to inexperienced users. High-quality payroll software companies give extensive support and training tools, such as tutorials, webinars, and customer assistance. These materials ensure that accountants can fully utilize the capabilities of the software and troubleshoot any issues that may emerge.

Best 5 Payroll Software for Accountants

These are some of the top providers of payroll software in the industry.

Gusto

Gusto stands as a complete payroll solution for accountants, combining user-friendly technology with experienced assistance to streamline payroll operations. The software is designed to improve the efficiency of accountants’ services by emphasizing integration, education, and client-centric features. The platform’s accountant incentives, such as revenue sharing and discounts as they onboard more clients, combined with its ease of use—backed up by a high recommendation rate among existing customers—make it an appealing choice for accounting professionals looking to expand their payroll software for accountants.

Key Features

Gusto Pro Dashboard:

The Gusto Pro Dashboard is a real-time platform that provides alerts for upcoming or blocked payrolls, seamless interaction with common accounting applications, and compliance support, all of which are designed to make accountants’ jobs easier.

Full-Service HR & Payroll Software

Gusto provides a full-service payroll system that includes benefits management, time tracking, and PTO, as well as certified HR professionals and compliance assistance. Accountants can also conduct automatic payroll taxes, medical administration tools, direct deposit, and more.

People Advisory Certification:

This certification program from Gusto equips accountants with the expertise to provide strategic advice, enhancing their service offerings to clients.

Support and Education:

Gusto offers instructive live webinars for CPE credits, as well as dedicated support, with a focus on professional development for accountants.

Integration:

Gusto offers hundreds of integrations within their system. You’ll find apps like Xero, Clover, Trainual,

Paychex

Paychex is an excellent payroll software for accountants since it is easy to use, provides a variety of reports and analytics, has a team of specialists, and is reasonably priced. It also includes accountant-specific capabilities such as the ability to build custom reports and dashboards, link with other accounting software, set up automated workflows, and get assistance 24 hours a day, seven days a week. With nearly two decades as an AICPA-approved provider, Paychex offers solutions that extend beyond payroll, helping accountants enhance their consultations and focus on growth.

Key Features

Accountant HQ: A central dashboard that enables accountants to conveniently handle client data by providing a single sign-in to all client sites.

ERTC Service: Paychex provides a service to assist with the complex process of retroactively claiming the Employee Retention Tax Credit, determining eligibility, and preparing revised tax returns.

Comprehensive Payroll and HR Solutions: From hiring and onboarding to time and attendance, Paychex provides flexible solutions tailored to the needs of different businesses. Also, Paychex Flex® integrates with popular payroll, HR, and financial tools, if you decide to mix and match services or software.

Employee Benefits Management: Integrating health and benefits plans with payroll, Paychex aims to create cost savings and affordable packages for clients. Retirement Services: As a top 401(k) recordkeeper, Paychex supports clients in preparing for retirement with comprehensive retirement services.

Paychex offers custom pricing depending on needs, features, size, and type of company.

OnPay

OnPay provides a specialized payroll experience tailored to the specific demands of accountants and bookkeepers. With over 30 years of payroll experience and cutting-edge technology, OnPay is a trustworthy partner for processing payroll in a variety of industries, including specialty sectors such as restaurants, farms, and churches. Their platform is designed for scalability, allowing accountants to handle multiple clients while providing powerful integrations with top accounting software such as QuickBooks and Xero (this is important for account firms that interact with different clients). OnPay distinguishes itself by its dedication to making payroll services lucrative for accountants through competitive pricing and a revenue-sharing model.

Key Features

Full-Service Payroll: OnPay offers a comprehensive payroll solution with tax filings and attention to client needs.

Intuitive Dashboard: Accountants can manage all client accounts efficiently with one dashboard, scaling their practice and managing everything at a glance.

Customizable Integrations: QuickBooks, Xero, and various time-tracking apps can be integrated with OnPay, and line-item accounts can be mapped.

Exceptional Support: OnPay provides attentive service with a team dedicated to setup, migration, and ongoing support, ensuring accountants have the resources they need.

Built- HR Capabilities: OnPay has customized onboarding, custom workflows, document audits and much more to make your HR process a breeze!

Flexible Service Delivery: Accountants can deliver payroll services based on their business models, either by delegating to clients or maintaining control.

QuickBooks

QuickBooks Payroll is an excellent alternative for organizations seeking an integrated payroll service that goes beyond simply issuing paychecks. The provider, who argues they are the #1 payroll service provider, is designed to work in tandem with QuickBooks Desktop, providing a comprehensive suite of payroll and HR services. It’s especially useful for firms that already use QuickBooks for accounting because it creates a unified financial ecosystem.

Key Features

Tax Penalty Protection: QuickBooks Payroll provides up to $25,000 in protection against payroll tax penalties.

Same-Day Direct Deposit: By holding onto funds longer, businesses can improve cash flow and pay employees more efficiently.

Auto Payroll: Using the platform, business owners can automate payroll, freeing up time for other tasks.

Time Tracking: Timesheet approval and invoice creation are made easy through integrated time tracking.

24/7 Expert Support: QuickBooks Payroll provides round-the-clock support, ensuring that help is available whenever it’s needed.

Comprehensive Employee Services: HR support, workers’ compensation, health benefits, and 401(k) plans are all included, making it a one-stop shop for employee management.

ADP

ADP is a powerhouse in the HR and payroll environment, providing a broad array of services that adapt to organizations’ changing demands. With a history spanning more than 70 years, ADP’s expertise in data-driven guidance and technologically advanced solutions makes it a dependable choice for accountants looking to handle the intricacies of HR and payroll management. ADP’s focus on flexibility, all-in-one solutions, and customized support packages positions the company as a versatile partner for companies looking to streamline their HR activities and remain ahead of workplace trends.

Key Features

All-in-One Solutions: ADP offers comprehensive platforms that include HR resources for present and future needs, allowing for a one-stop shopping experience. The offer software solutions to solve problems like calculating time and attendance, payroll, talent management, benefits and insurance, compliance, and more!

Flexibility for All Business Sizes: From solo entrepreneurs to large corporations, ADP’s services are tailored to meet the diverse challenges of any business size.

Expansive Analytics: With industry-leading tools like salary benchmarking, client reports, and smart analytics, accountants can stay ahead of the curve for clients.

Global Expertise: With knowledge of tax laws and compliance across various jurisdictions, ADP ensures HR processes remain error-free and compliant. Advanced Services and Technology: ADP offers data safety, privacy, fraud, and crisis management through its advanced services and AI-powered technology.

ADP payroll provides custom pricing depending on features, size, and type of companies.

Need Payroll Software for Your Accountants?

Do you need payroll software for your accountant services? Don’t worry, 360Connect can help! We help customers find high-quality suppliers every day. Just fill out our 1-2 minute form and we’ll contact you verify your information and needs. From there, you can sit back and relax as up to 5 suppliers will reach out to you with quotes. This process is 100% free!