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Payroll software is a solution businesses use to manage, organize, and automate the employee payment and tax filing process. It eliminates time-consuming, payroll-related tasks for HR, reduces pay errors, and guarantees that employees receive payment on time.
Extensive payroll platforms allow the organization to monitor time and attendance, tax information, and pay structure. They can keep track of worked hours, calculate wages and deduct tax withholding, and pay government employment taxes. Reliable payroll software solutions automatically update when tax laws change and alert employers when it’s time to file tax forms.
Aside from payroll processing and management, most payroll software solutions deliver direct deposit, expense management, employee self-service, compensation management, and reporting features. Payroll solutions may be a standalone system or integrated as part of a larger HCM platform.
We reviewed the market-leading payroll software solutions and narrowed our list of recommendations to the best of the best: