Entrepreneurship & Small Business

Payroll Softwares and Accounting for small business

  • Last Updated:
  • May 2nd, 2020 10:55 pm
[OP]
Jr. Member
Jan 21, 2011
107 posts
18 upvotes

Payroll Softwares and Accounting for small business

Hey guys, just wondering if any of you can provide any advice for a small business with a few employees. Right now we're running payroll kind of weirdly, with 1 person on waveapps payroll, and the rest of the team just manually calculating remittance via the accountant.

To me, wave is OK, but hard to understand exactly where the money is going. For ex: vacation pay it just says "hours accrued" but doesn't mention if it's paid out or not. Another thing is when I try to generate a summary it doesn't show matching numbers as the total amount paid out. Not sure what is going on so I am hesitant to move everyone onto Wave.

Is there any better solutions out there that you all are using that's in the same price range (ie not ceridian)? Anything that you swear by? I've been looking into Knit Payroll but fear that it won't play well with wave accounting.

Would it be easier to just get an accountant to process everything every 3 months for stuff like CPP / EI / Income tax deductions?

Thanks for any suggestions ..
7 replies
Deal Addict
Jan 21, 2018
4570 posts
4626 upvotes
Vancouver
Payment Evolution payroll is free for up to 5 employees. It handles all the necessary stuff including payroll tax calculations, tax remittance, direct deposit pay etc.. Lots of reports available (although somehow never quite the one I want).

It can import accounting data from major systems like Quickbooks, but only with the next step up to a paid account, which still isn't very expensive.
Sr. Member
Dec 17, 2009
810 posts
639 upvotes
Vancouver
Sage 50 is a more user friendly program, and you get full control. But it is expensive and needs to pay for update every year.
I am currently using Payment Evolution, cost less if you only have few employees. User friendly but you need to spend some times to learn the program. So many reports available, but still can’t find the one I want.
There are few downsides: you need to pay them to make any change for the payroll period that is closed, annual subscription only and online payroll system.
Accused hours = not paid. you should see that number is increased on each pay period on the YTD report.
Newbie
May 29, 2007
31 posts
15 upvotes
I just Quickbooks Online with Payrol
I got 4 employees...for me it works perfect, just needed my accountant to set everything up properly in the beginning
Deal Addict
Dec 13, 2007
1639 posts
103 upvotes
Toronto
I just switched to QB with Payroll after being on Simply accounting 2007 for years. Big improvement. Payroll cost 20 bucks on top, but it is worth saving my time.
Penalty Box
Jun 24, 2015
4710 posts
1388 upvotes
0 downvotes
I tried Payment Evolution, found it very difficult, i had under 5 employees
Hi
Deal Addict
Jan 21, 2018
4570 posts
4626 upvotes
Vancouver
GoodFellaz wrote: I tried Payment Evolution, found it very difficult, i had under 5 employees
They aren't always the most user-friendly, but once you work through the setup and routine processe, it works ok and handles most of what you need. Comparing it to the ADP payroll system we had before, it's wonderful.

Unfortunately although they do provide a free tier for 5 or less employees (pay small fees for transactions), they completely stopped providing any support on the free tier. They won't answer questions at all.

I also note that although they have implemented support for calculating and deducting the government's 10% temporary wage subsidy from tax remittance, they decided arbitrarily not to provide it to companies on the free basic tier.
https://help.paymentevolution.com/hc/en ... -Employers
Newbie
User avatar
Mar 1, 2020
31 posts
3 upvotes
I have been recommending people to use waveapps because it is free. Estimation, Invoicing, tracks expenses and much more. Links to your bank and can receive multiple types of payments (paid). Does payroll (paid).
"Employee by Day, Entrepreneur by Night"

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