Gone are the days when a company’s accounting and finance department would sum up all the worked hours, factor in all absent deductions, and dispense with the employee payroll for the time being; current business realities tell us such simplistic approach could very well earn you unwanted attention from government regulators and place your entire business in jeopardy.
These days you’d want to keep on the safe side of the law, which means hiring advanced-level professionals or dedicated outsourcing service providers, both eager to advise you that safe passage means a dedicated payroll software, HRM or ERP system that will cover reimbursements and bonuses, health insurance and 401(k) retirement, compensation insurance for pay-as-you-go workers and complying with myriad regulatory requirements, on top of the standard fare of calculating employees’ salaries and deductions, depositing the salary into staff bank accounts, producing insightful reports and even printing checks.
Speaking of ensuring compliance with tax laws, a sobering statistic shows how the IRS have collared erring individuals and businesses and assessed penalties of $12.4 billion in the process. Manual computation has become a tricky option, and companies have duly taken heed and invested more in software automation to cover their payroll needs.
For a third of organizations, avoiding legal sanctions through payroll software adoption also brought with it substantial savings and the striking realization that modeling and predicting workforce expenses has driven software itself as chief commodity, the mine of data it presents, the expanse of decision-making analytics it generates creating eye-opening unanticipated value.
In the past, we have reviewed a number of payroll software to present decision makers a wider view of the leading brands, both pros and promising newcomers, with an eye for subsequently featuring some of them individually. Herewith we have decided to pull in OnPay, grabbed our inspection lens, and looked deeper into the pros and cons of OnPay to help you determine whether you would do much better to engage its capabilities.
If you need more information on this type of software you can also check out our what is payroll software guide for more details and examples.
OnPay is a well-defined payroll software designed with on-the-go professionals who need flexibility and scalability in running small to medium-size enterprises in mind. After only a few quick steps with this on-demand payroll software, you’ll be depositing and printing paychecks in no time. You simply enter the hours, accept the totals and you’re on your way making payment. With its on-site check printing, you will not need to go anywhere. You could have unlimited pay runs and reliable email and phone support. It will allow you to seamlessly integrate items like tips, hours, bonuses, and reimbursements—along with 401(k) retirement and health insurance benefits, and compensation insurance for pay-as-you-go workers.
If you’d like to try out the software on your own you can easily sign up for an OnPay free trial here.
With OnPay you can group employees by schedule, which allows you to pay each group uniquely at specific times.
We mentioned getting on the good side of the law and OnPay takes guarantee to another level by committing to assume all responsibilities in case of any errors in the filing of tax after it helps you calculate your state and federal payroll taxes.
Small business owners and entrepreneurs will find OnPay’s straightforward core features just right for what they need as they’re forced to focus on multiple directions at once. They could trust the solution is effective and robust that works well with their budgets. A compelling suite of payroll management, tax compliance and HR controls ensures OnPay delivers top value for money, which is one of the reasons it scored high on our top 20 payroll software list.
Having determined the key features of OnPay, we now fix our attention to the major pros and cons of OnPay.
OnPay allows you to find steady feet and running in no time by loading previous wage data at full accuracy—or OnPay takes full accountability.
If you find you are still queasy about that, you can opt to go with OnPay’s new five-step setup wizard instead, which has become much easier and more streamlined than before: you add pay schedules (weekly, biweekly, monthly, etc.), add worksites (including departments and positions), build employee profiles, set accrual policies and define payroll tax settings.
Even if your employees are no longer working for you, OnPay retains all their records so they can access their pay stubs and W-2 forms online without taking away actual time from your staff. It works just as well for salaried employees, hourly workers, contractors, agricultural workers or tipped workers.
Opt for unlimited pay runs, edit or cancel items and not worry about facing extra charges.
Your employees do their own data entry, OnPay locks the information and loads from the resulting data via user-friendly interface quickly and conveniently.
Users already laud OnPay for guaranteeing the import of wage data accuracy, but it nudges confidence in a solution to another level by also guaranteeing tax compliance, which no other provider standing on shakier feet would dare do. Perhaps three decades on the business does that, and OnPay might as well have insiders at IRS giving them critical heads up to enable them to show such faith in their system.
OnPay offers an online HR library that you can access for employment laws by state and employee handbook templates. It allows onboarding and offloading, performance plans, annual reviews. It lets you easily track accrued time for three-tier PTO, sick and vacation accruals.
With nationwide coverage, OnPay removes the mystery out of processing health insurance benefits. Licensed insurance brokers onboard OnPay makes sure you clearly understand the benefits on offer, whether vision, dental or medical. Integration with the payroll streamlines calculations. Price options ensure you get the best match for employees and the company or you can opt to expand your choices by asking around and requesting quotes.
Along with investment management for free, OnPay offers sensible automation of withholdings with secure harbor plans and contribution matching. OnPay educates employees about the retirement plan and how it benefits them.
Aside from not charging for annual fees, cancellations, changing plans, direct deposits, check printing, and withholding, remitting, and filing payroll taxes, OnPay’s subscription plans are comparatively inexpensive while generous on features that allow scalability and functional integration when you need them.
Wrapping up the pros and cons of OnPay, we switch to the latter part, and we have come up with the following:
It may well play to the hands of some, but still many find OnPay’s large number of layers confusing at times. Upcoming software updates may well address the issue once OnPay has fleshed out the areas that confounds other users.
There’s OnPay for Android but aside from it, users used to pampering by other applications have no iOS or other mobile options.
OnPay is probably an advocate of total rest on Sundays and Saturdays, so tough luck for you if you stumble upon some snag using the software and it just happens you are on duty exactly during those days.
FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. Please note, that FinancesOnline lists all vendors, we’re not limited only to the ones that pay us, and all software providers have an equal opportunity to get featured in our rankings and comparisons, win awards, gather user reviews, all in our effort to give you reliable advice that will enable you to make well-informed purchase decisions.