Your Small Business Payroll Software Checklist

Finding the right small business payroll 

When you’re a small business, the people on your payroll aren’t just a list of numbers, they’re real people. Paying them accurately and on time is important, not just because you want to do things the right way. It’s also because you value them as human beings. 

Now if only payroll were that easy. Your employee does their job well, you pay them and everyone’s happy, right? We can all dream. 

In reality you have to track how much you pay your employees, account for required benefits and tax deductions and provide pay stubs, year-end T4s and more. 

But thanks to technology (and even the little name dropper AI) it’s easier than ever to automate small business payroll. The right software is as transformative as switching from a rotary phone to a smart phone. This checklist cuts to the chase of what you need to know. 

#1 Know your payroll needs

Payroll software comes in all shapes and sizes. In addition to looking for software that’s made for small businesses, come into the process knowing exactly what you need for your business. 

Define how simple or complex your payroll needs are in terms of: 

• How many people you pay and how often you pay them 
• The taxes and deductions you have to take out of the paycheques, things like EI, CPP, income taxes, and employee benefit contributions 
• The contributions and benefits you have to add to the paycheques, things like bonuses, expense reimbursements, and employer benefit contributions.
• Who’ll be running the payroll — you, your employee, or your bookkeeper?
• Your comfort level. Is this your first time using payroll software, or will you be switching providers?

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#2 Know what the payroll software offers 

At a minimum, payroll software should handle the essentials. If it doesn’t check these boxes, keep looking.

• Payroll calculations, electronic direct deposit and payslips. 
• CRA tax remittances and filings, in other words, sending the money to the government. 
• Key paperwork: T4s, T4As, ROEs, etc. 
• Paid/unpaid leave and time-off tracking.
• Customer support, including help getting started.   

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#3 Know what the payroll software costs (all the costs) 

Pricing is one of the biggest decision points for small businesses, and it’s where the fine print matters most. To compare costs, consider how the fee structures impact what you’ll pay to run payroll. 

• Flat monthly vs. per-employee fees.
• Unlimited runs vs. per-run payroll.
• Add-ons — what’s included vs. what’s extra.  

Don’t worry, we’ve got you

At Huumans, we know how stressful payroll can be. That’s why we’ve built our own. It’s coming soon and we can’t wait to tell you about it. Your friendly AI advisor and co-pilot, Roy, will also be there to help you along the way.