Article by Chris Costi, Last update at August 20, 2023
Paychex is a great Payroll & HR solution for small medium businesses, suitable for any amount of employees in any industry. This web based software offers everything you would need to access HRIS, salary and benefits administration, time and attendance, payroll, retirement plans and much more. Paychex is built on a central platform that keeps track of each employee with a single data profile. All the information is available, across all customizable applications. Paychex is valid for tax purposes across all 50 states in the US. The company was founded in 1971 and today processes close to a billion dollars for their 650,000 users from 100 locations. Paychex employs over 14,000 employees and offers above average customer and technical support to all their clients. Paychex can be installed locally or cloud based. With the latter no downloads or installation is required.
Paychex do not advertise any prices online. Their prices vary according to the type of plan you choose and the number of add-ons you decide to add. For payroll, Paychex offers four different plans, the Express Payroll which features tax administration, direct deposits or pay cards and more. The Paychex Flex Select features additional features which include dedicated payroll specialist, additional employee payment options and a labor compliance kit.
The Paychex Flex Pro is the most popular for small business and offers additionally a SUI Service, Onboarding essentials and reporting and analytics. The Paychex Enterprise for large business offers additional features which include custom analytics and reports, Paychex Flex HR Administration and much more. You can opt for automatic tax filing, new hire reporting and direct deposit payments as well as accounting software integrations. There are no contracts with Paychex and you can cancel your plan at any time.
With Paychex you can take care of your employees from hiring until retirement. Services you can offer are benefits, insurance, retirement plans, health care and much more. This is the ideal solution for businesses that want a single platform to manage all their payroll duties.
Clock in and clock out can be done through the Time & Attendance service and you can manage paid and unpaid leave for your employees directly from this platform. Paychex comes with built-in HR, onboarding and screening of employees as well as automatically calculating and filling your payroll taxes.
The accompanying Paychex mobile app allows employers and employees to access information on the go. You will be able to access payroll reports with multi-level tracking, by location, department or job. Employees will be able to access their private files only. With each payroll, Paychex includes tax administration, which files your federal, state, and local taxes. You can add additional sales tax support or tax credit services.
Paychex is an easy to use, scalable payroll system that has built in HR and everything you would need to keep your employee payroll and information on one single platform. They offer good customer support and will assist in setting up your employee payroll in accordance with taxes valid in each state. You can run Paychex on Windows 7, Windows Vista, Windows XP, Mac OS, Web browser (OS agnostic). For small and large businesses, Paychex offers comprehensive payroll software and human capital solutions for all types of industries. The main dashboard keeps you informed with multilevel analytics so that you are prepared for your next payroll. Paychex uses data encryption, malware detection and prevention, firewalls for security.
Paychex offers an impressive number of services that integrate directly with their payroll dashboard. The additional apps can be added at an extra cost. These services include payroll setup, retirement and pension plans, group or individual health insurance and much more. Time tracking is also an optional extra and this comes with a physical time clock and the app to keep track of your employee’s time cards. Paychex offers additional HR packages for automated benefits administration. More information of the HR services are available on the Paychex website.
Paychex payroll features include a new-hire report and if you opt for the more advanced Flex plans you can include onboarding which will help you screen new recruits and applicants. If you need insurance you can purchase business insurance through Paychex directly. They offer owners life and disability insurance, worker’s compensation, property insurance, commercial auto insurance, liability insurance, umbrella and business owners’ policy insurance.
Paychex can also help you find the right place to obtain a loan. They have partnered with Bizcredit in order to offer loans to preapproved clients. With these facilities you can manage payroll, expenses and reimbursements. Paychex also partners with NCR Silver if you want to upgrade to a full-fledged point of sale solution. You can also opt for the marketing services which are geared to help your company grow through customer engagement and social media.
Paychex offers cloud based software that is compatible with Windows 7 or 10, and for Macs, the company recommends OSX 10.13 or higher. Browsers used are Firefox, Google Chrome, Microsoft Edge and Safari. You can also find mobile apps for Apple products, iOS 11+ as well as Android devices 7+. With Paychex there is no limit to the amount of employees you want to add to your payroll. The setup process is quick and easy and Paychex does the entire implementation process for you. All data and account set ups are handled by the Paychex team so that you are ready to run your first payroll.
Employee management allows you to add multiple pay rates and manage earning and deductions, you can also add custom fields according to your requirements. Salaries and wages can be paid by direct debit, checks or by cards. Download the free mobile app so that you can access information or submit payroll on the go. Paychex integrates with QuickBooks Online, Sage Intacct and Xero TM for all your accounting needs.