IT contractor payroll companies offer an effective solution for organizations that have a large number of independent contractors on their payroll. They handle all aspects of this process and ensure compliance with local rules and regulations.
They can also save time and frustration for HR, legal, and finance teams. This means that they can focus on their core responsibilities, which helps organizations grow and scale their businesses.
Payroll
Payroll is a cloud-based software that lets you run payroll online, in real time. It’s easy to set up and use, and the support team is helpful and friendly. It’s one of the best payroll services available for IT contractors.
It also integrates with many popular accounting software applications, including AccountEdge, QuickBooks Online, Sage 50, Kashoo, and Xero. However, this integration costs an additional monthly fee.
Gusto, meanwhile, offers a similar service at a lower cost, with fewer extra fees. It’s a good choice for small businesses and contractors who want to save money, but it doesn’t have as many features as Payroll or ADP.
Payroll processing can be time-consuming, so it’s important to choose a provider that makes the process easy. In addition, it’s important to find a payroll service that’s compliant with all IRS and state rules.
Fortunately, Gusto has a great reputation for keeping up with compliance issues and warning you when changes occur. It’s also easy to set up and puts everything on autopilot, so you don’t have to worry about running payroll unless it needs to be done.
Another advantage of Gusto is that it’s a mobile-first product, so you can access your account from anywhere. It’s easy to use and offers a free trial, so you can see how it works for your business.
ADP, on the other hand, has a reputation for delivering reliable payroll and tax software features for its larger clients. It’s a little more expensive than Gusto, but it comes with a full set of HR add-ons.
It also has an extensive selection of payroll reports, which can be customized or exported to Excel for further analysis. In addition, it offers a free mobile app that lets employees access their 1099s and tax forms.
Customer support is available to answer questions about setting up your account, filing payroll taxes, and other services, as well as help you with any problems you might have. They’re available Monday to Friday, 7 a.m. to 8 p.m. Central time, and on Saturdays from 9 a.m. to 1 p.m.
Gusto
Gusto is the world’s leading payroll automation software designed for startups and small businesses. It automates a lot of important HR, accounting and compliance tasks, freeing up valuable time and money. It’s also easy to use for both employers and employees, which makes it an attractive option for a wide variety of businesses.
Gusto offers a wide range of service plans that are built to meet the needs of businesses at all stages, from startup companies to thriving businesses with large teams and complex operations. Each plan includes payroll processing and tax services, as well as a suite of modern HR features and tools to help you manage employee growth and success.
The simple plan is suitable for single-state small businesses with minimal HR and payroll needs, while the premium plan is best for larger teams and comes with access to certified HR professionals and additional benefits. The top-tier plan also provides access to HR experts to assist with state and federal employment law compliance.
It’s a good choice for small contractors and IT contractors who aren’t yet paying W-2s or 1099s, and it can handle payroll taxes for international employees as well. However, it lacks specialized features for construction businesses, and it’s a bit expensive for smaller companies.
If you need to pay contractors abroad, you can sign up for Gusto’s international contractor service, which allows you to pay your workers from 34 countries worldwide without incurring extra fees. Its service also enables you to set up a spending account and high-yield savings account for your employees.
You can also offer a number of employee benefits with the system, including FSAs and HSAs, commuter and 401(k) plans, and health reimbursements. The company also offers a financial tool called Gusto Wallet that helps you manage money in your organization’s account.
Gusto is one of the most popular payroll systems in the US, and it’s easy to see why. The company offers a free one-month trial period after you run payroll, and there’s no setup fee.
It’s ideal for businesses that want to streamline their payroll process and keep costs down, but it doesn’t have many specialized features for construction. It’s more suitable for small companies that don’t do a lot of government contracts or union work.
Velocity Global
Velocity Global is a provider of cloud-based global talent solutions. Its Global Work Platform simplifies the employer and talent experience through its proprietary technology, backed by personalized expertise and unmatched global scale. It offers a full suite of talent solutions, including global Employer of Record and Contractor Management to onboard, manage, and pay workers worldwide.
Thousands of companies rely on Velocity Global to build distributed teams without the cost and complexity of setting up foreign legal entities or state registrations. The company was named a Leader in Everest Group’s PEAK Matrix for EoR Solutions and is a leading provider of remote workforce management services, which include Employer of Record (EOR), compliance and compliance solutions, onsite and offsite recruitment, benefits, payroll, and employee relations.
With the growing number of independent contractors in the United States and a trend towards hiring these types of employees globally, businesses are facing increased challenges in retaining these professionals and providing them with a positive working environment that meets their needs. As such, companies are looking to adopt a distributed workforce model that will help them achieve their goals of productivity and attracting the best candidates.
One way to meet the requirements of these employees is to offer them a flexible work arrangement that allows them to manage their work hours as well as personal life, which is possible with a distributed team. This will allow them to maintain a good life-work balance, and it will also enable the company to hire highly skilled professionals that are more likely to be satisfied with their employment terms.
In addition to providing payroll solutions for employees and contractors, Velocity Global also provides a variety of employee benefits, including health insurance and retirement plans, perks, professional development, and time off. These perks can help reduce employee turnover and improve their morale, which will result in greater efficiency and higher profitability.
In addition, the company is known for releasing a roadmap for businesses titled “The Future of Work: What Talent Wants.” This research-based guide, led by veteran talent leaders Kokoro Robinson and his team, highlights the changing global workplace and what employers need to do to retain their top talent in the face of shifting trends. It can be downloaded for free here.
Kgbm
Kgbm is a payroll service built for construction companies that handles all the complex nuances of construction payroll, from prevailing wage and union wage reporting to multiple city/state/rate and trade calculations on a single timecard. It also offers free certified payroll reports and a mobile app for sharing data between the office and the jobsite.
Founded in 2006, Kgbm is a subsidiary of Foundation Software, which has been providing construction accounting software since 1985. Its payroll service runs with FOUNDATION(r) construction accounting software, which is designed to help contractors automate their day-to-day jobs and manage their project costs and billing.
The software can be used alone, or it integrates with other business apps like CRM, project management, and inventory management. Its core platform includes online onboarding and offboarding, document management, workflow automation, and HR tools.
Other features include two-day direct deposits, automated pay runs, and the ability to pay hourly and salaried employees as well as contractors. It also offers a self-service terminal for employees, geofencing features, and time tracking.
It also works with SimplyInsured to provide health insurance in all 50 states (Gusto has limited coverage in 39). Tax filing: All plans include federal, state, and local tax filing and year-end report prep and delivery of W2s and 1099s.
In addition to payroll, Rippling is a full-service HR system with a variety of tools for managing employee onboarding, PTO, time and attendance, and background checks. Its benefits support helps simplify benefit administration and online enrollments of health, dental, vision, flexible spending account (FSA), and health savings account (HSA) plans.
Rippling’s payroll features are built on its workforce management system, which also provides automated pay runs and two-day direct deposits. Its HR tools are more robust than those of other payroll services. However, it’s not as easy to use as Gusto and eBacon, and it doesn’t offer a contractor-only plan like Kgbm does.
Unlike most other payroll providers, Rippling doesn’t charge extra for employee self-service or for time-tracking and geofencing. Its employee portal isn’t as sophisticated as the ones offered by Gusto or eBacon, but it does have a variety of perks for employees that are not included with any other provider.