Calculating billable hours manually is prone to human error. As a consultant, you can’t make such mistakes when you need to charge for the hours you have spent working hard for your clients.
The job becomes even more prone to errors when you have to calculate the billable hours for multiple resources. At the same time, the repercussions associated with human error also become more grave.
This is why having a payroll management system saves your time and eliminates the room for errors.
With that said, the misconception that payroll softwares are expensive deter many from taking advantage of them. However, the truth is that it is only a misconception.
To prove my point, here are five budget-friendly payroll software exclusively for your consulting business.
Corporate Payroll Services
Corporate Payroll Services are the best payroll management system for small and mid-sized consulting firms.
Since 1991, this software knows the significant challenges faced by SMBs (Small and mid-sized business) better and has apt solutions.
From managing your finances to filing the taxes, they guide you in every step with their one-on-one services.
Some of the best features of Corporate Payroll Services are
- 401K Tracking and compliance management to stay up to date.
- Budgeting sheets based on the industry.
- Time and expense tracker to calculate the billable hours accurately.
- Simple employee onboarding features in its functionality.
- Low-cost payroll preparation for federal, state and local payroll taxes.
Having a cloud-based payroll software saves you from losing away all your data. Dayforce offers self-hosted cloud payroll solutions to its clients.
It compiles all the data from the employees’ lifecycle and presents you better for decision making.
It is completely scalable based on your consulting firm needs eliminating the complexities.
Some of the best features of Dayforce are
- Workforce management to ease off employee payment systems.
- Data import and export to other systems conveniently.
- Enhanced analytics to track overtime, sick leave and vacation.
- Time clock integration to monitor your working hours.
- Document, HR and talent management to access all the data quickly.
Want payroll, HR and compliance management within the same system; then your choice must be Justworks.
The best part is that it is exclusively for small and medium-sized businesses.
This payroll management system’s unique feature is their employee benefits manager, which partners with leading benefits providers to claim the medical and dental services.
Some of the best features of Justworks are
- Accurate payment providing system for all employees (part-time and full-time).
- No paper worksheets instead digitalize precision and efficiency of payroll.
- Interactive interface for employees to view their profile and performance anytime.
- Quickbooks integration to manage to account.
- Summary reports at the end of the financial year.
Namely, is the award-winning payroll software for your consulting and accounting needs.
It is an end-to-end HR and benefits system that fits into your budgeting needs.
Some of the best features of Justworks are
- 360° performance reviews to quickly access employees work and offer incentives and appraisals.
- Customizable payroll dashboards to create your flexible payroll system.
- 24*7 support from a dedicated account manager for every client.
- Tax deductions feature to show accurate taxes based on your locality.
- Powerful permission engine to protect specific information.
Whether your consulting firm has three employees or twenty employees, Workful is a great payroll software for you.
It’s a simple, all-in-one small business management solution that takes care of your payroll and HR, thus allowing you to concentrate more on other business.
You get precise data on billable and non-billable hours separately.
Some of the best features of Workful are
- Multiple pay rates to convert the currency transaction accurately.
- Direct deposits feature to ditch the checks.
- W-2, and 109- MISC forms for compliance management.
- Time Clock and calendar management to pay your employees on time.
- Pricing starts at $25 for all users.
The bottom line
You can choose one among this five payroll software through taking a free trial of all these systems. It gives you a clear idea on which works best for your consulting business.