Paychex provides human resource management and business insurance for medium-sized businesses. The company was founded in 1971, and has more than 100 offices that provide services to more than 680,000 organizations in the U.S. It’s won awards for its work environment, innovation and technology.
There are three tiers of Paychex’s payroll service, created to help all capacities of a business. The cheapest, Paychex Go for self-employed individuals costs $59 per month and $4 per employee. Further tiers, Paychex Flex Select and Paychex Flex Enterprise, are custom designed for larger companies and can be priced accordingly. For free information about a company size, location or contact, simply input the company needs with this service and receive a quote in return.
What is Paychex and is it right for me?
Paychex is a good fit for organizations with medium-sized and growing enterprises, who can’t afford the time to track their own finances. Additionally, Paychex is a great option for companies with up to 1,000 employees.
This company is not recommended for IA
Businesses on tight budgets. Sole proprietorships or freelancers. Businesses of 1-10 people needing a simple payroll system. Large corporations with thousands of employees.
Paychex is a top-rated payroll system, but it is most useful for businesses with up to 1,000 employees. Paychex offers 24/7 customer service, automated calculations of taxes, and the ability to work with a live specialist on your payroll. It also has benefits tracking as an added value service.
Paychex offers relevant e-learning modules to make sure your employees are up to date on the latest human resource techniques. They also provide free podcasts and articles about current developments in payroll taxes.
Paychex offers services for companies 1 to 49 employees. While you may find Paychex convenient, it will be more expensive than services in our rating. Paychex is best suited to companies 50 to 1000+ employees with accounting staff that can oversee and utilize all of Paychex’s features.
Paychex can hold your hand when you need it, but it only caters to larger companies with accountants and staff who have time to go through the different features.
Paychex offers three different plans for payroll
Paychex’s entry-level plan is Paychex Go, which provides access to a small business payroll and tax administration. It includes W2s and 1099s for employees, as well as contractors.
With Paychex Go, the software integrates with QuickBooks to allow for easier access in the system. For example, information can be uploaded or downloaded without rekeying data.
The newly released Paychex Go not only integrates with the time and attendance program, but also allows employees to be paid by a variety of ways including direct deposit, prepaid card, paper checks, or through the check signing service.
Paychex provides updates on the status of regulations and the adjustment of human resources and business forms, as well as California state specific labor compliance posters. They provide all this information for you with more than two-hundred specialist and have U.S.-based trained Paycheck associates available by phone or online.
Reporting tools can show different insights overtime, short hours, and discrepancies. This is suitable for both managers who want to be hands-on as well as administrators who want to be set and forget.
Regularly scheduled payments can be automated and are handled by specialists in the case of any irregularities or troubles.
Learn what Paychex Flex Select is and how it works
Paychex Flex Select is the most popular Paychex level. This tier offer an individualized pricing, with a payroll specialist and integration in more robust third-party human resources, point-of-sale and accounting software. Paychex offers both the Paychex Go and Flex Select tiers. The Go tier provides the basics for payroll management that businesses need to run their operation.
Paychex provides a free app that allows the payroll manager to complete their job from any location. It also offers the employer $1,000 worth of digital marketing services. This includes hands-on help from a consultant to help determine which social media platform will benefit positioning one’s business, as well as an analysis of the business’ online effectiveness after this strategy has been put into place.
Flex Select offers its employees a financial wellness program. The has short-term loans and online e-learning modules, with topics such as onboarding, payroll and getting paid.
Equifax provides a number called the Work Number. This service is accessible 24/7 to employees who can access information about their credit without going through their employer. It’s especially useful for people who work in lots of different jobs and need to check up on their credit over the weekend.
Read about how Flex Enterprise can help businesses
Paychex Flex Enterprise has more benefits than the Paychex levels before it. Enterprise is an advisor that helps solve problems on a much larger scale and with a diversified focus. For example, instead of focusing solely on payroll, Enterprise also handles unemployment insurance or garnishment.
Paychex offers a variety of different levels for business owners. Paychex can help businesses with background checks, onboarding for employees, and compensation insurance. There are three different levels- basic, plus, and enterprise- which are more comprehensive as the level increases.
The Go plan offers standard features as a starting point. You can work with Paychex to custom tailor your package, depending on your needs.
Paychex FAQ
Paychex offers a full service, customer-oriented payroll system. Anyone who uses the system is given ongoing access to the program via an agreement that does not involve purchasing software. The website has a number of ways for communication and additional services that can be purchased on top of the basic package.
If you need to call, go to Paychex.com and look for the “contact us” option in the top menu strip. Alternatively, scroll down and take a simple questionnaire to receive a free quote with no obligation. If you don’t want to wait, you can also click the chat box which will appear after thirty seconds and offer help.
Determine what kind of service and pricing is available based on company size, shape, and compliance needs. Once you’ve established contact with a sales representative, the rep will work with you to determine best practices and pricing that fit your needs.
Paychex makes it easy to pay your bills. You just sign a contract and they will set up payment with either direct billing from the company’s bank account or using a credit/debit card. They do not send invoices, but they will provide a receipt of payment.
Does Paychex Offer a Trial Period?
Paychex offers a limited three-month trial. The promotion has closed, however, and there is no current trial period.
Does Paychex Offer Direct Deposit?
Paychex offers direct EFT (Electronic Funds Transfer) as an option to their employees. With a voided check from their account, the employee shares details of their account with Paychex and inserts this information into their system. As a result, payments are made electronically, and not by paper check like many other companies offer.
Paychex offers a free service to ensure a business receives the proper tax credits due. Additionally, they offer automated tax filing that calculates payroll taxes and ensures accurate filings with local, state, and federal agencies.
