Gusto can calculate these amounts based on payroll history and lets you determine what you’d like them to pay on your behalf. Even if you live in a state that doesn’t collect income xcritical website tax (like Florida or Texas), you’ll still need to enter state tax information. Gusto will need your state unemployment insurance (SUI) rate and State Employer ID number. Some states, like Louisiana, also require a revenue account number. This page layout can vary depending on where your business is located. Also, direct deposit takes anywhere from one to four days with Gusto, depending on what plan you have.
Review Payroll & Submit
Many payment processing companies require you to request a quote or demo, but Gusto is transparent about its pricing. It lists how much you’ll pay for its plans each month, plus the additional per-person amount. Gusto has a robust offering of time-tracking tools that allow for automatic time tracking for remote employees and PTO scheduling and approval. OnPay is an all-in-one payroll and HR solution that is designed specifically for small xcritical reviews businesses. The platform differentiates itself by providing an error-free tax guarantee and robust benefits administration features. While OnPay does offer straightforward, comprehensive pricing, the plans are not customizable, so it won’t work for businesses that need more flexibility in choosing which features they want or need.
Gusto still generates the Form W-4 and authorization for direct deposit. It will send an I-9, but this must be filled out outside of Gusto. When you’re done with your account setup, you still need to take a few more steps before you can run payroll. If you have one, you’ll select Add Your Accountant, and add their name, email address, and other information so Gusto can give them secure access to your account.
Gusto product features
Gusto takes care of calculating and filing payroll taxes for you and your employees, and it keeps a record of pay stubs accessible to employees through their online profiles. Employees also get an email each payday letting them know their money’s coming in. In the pay tab, we didn’t see a financial goals tool, and when trying to set up the paycheck splitter, the “add bank account” button wasn’t responsive. However, under the paycheck splitter setting, we were able to see the option of depositing a dollar amount or percentage of a paycheck into any given account. In addition to the payroll page, Gusto gives you reports right on the review page, so you know how much you are paying in taxes and employees’ work vs take-home pay. At this point, you’ll be able to do a final review of your payroll transactions.
Automated tax filing
One potential hiccup is that if you’re using Autopilot® and Gusto’s time-tracking tool, managers won’t be able to review and approve hours before payroll processes. The hours the employee enters will override their default hours listed in Gusto. For this reason, Gusto doesn’t recommend using Autopilot with its time-tracking feature. Gusto rises to the top of our list of best payroll software because it’s easy to use and competitively priced. Plus, it includes features, such as unlimited payroll runs and garnishment payments, in its lowest-tier plan that some Gusto competitors charge extra for or don’t offer at all. On those plans, both hourly and salaried nonexempt employees can track their hours.
Gusto offers a free demo with a pretend company that you can use to try out the tools. Plus, sign up today and get one month free when you run your first payroll. You can create a customizable onboarding checklist for new hires, as well as an employee directory and org chart. Gusto also offers performance review tracking to help you stay up to date with existing employees. While Gusto offers payroll services and 401(k) plans in all 50 states, its services for health benefits, HSAs, FSAs and commuter benefits come with some geographic restrictions.
Gusto Review 2024: Features, Pros & Cons
Gusto is a payroll and HR platform suited for startups and small businesses that employ a mix of employees and contractors and want to automate HR tasks as much as possible. We found the process of setting up a payroll schedule pretty easy. You simply choose a schedule—Gusto automatically suggests one for you—and confirm state tax details based on where employees are located. This also gives you time to see exactly how much money you’ll need in your payroll bank account to pay employees, giving you time to deposit money into that account. Select “Sign Documents.” With federal and state tax information entered and your pay schedule set up, you’re just about ready to do payroll. Before you can do so, however, you’ll need to provide your electronic signature, giving Gusto permission to run payroll on your behalf (which includes submitting payroll money and documents).
Check for R&D Tax Credits
The next step is to add tax information Gusto will need to file your payroll taxes. If you’re unsure about any information Gusto requests, look to the right side of the page for more guidance. You’ll need to know your Employer Identification Number (EIN), entity type (sole proprietorship, partnership, or LLC), and official business name. You’ll be asked to add basic data, including your name, business name, phone number, and address(es). This helps Gusto determine what specific forms you need for your state. We’re firm believers in xcritical rezension the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
It has an A+ rating with the Better Business Bureau (BBB), although neither Gusto nor ZenPayroll is accredited with the organization, which is a paid service. It launched as ZenPayroll in California in 2012 as part of the startup incubator Y Combinator, and it’s been available in all 50 states since 2015. It’s been backed by reputable investors valued at $9.5 billion as of August 2021.
You can also add one later by clicking on Payroll Settings in the menu, then Add New Pay Schedule. Gusto has a three-screen questionnaire to help determine the best plan and add-ons for you. Then it will lead you through some options, including how quickly you want direct deposit. To run payroll with Gusto, create an account first on its website.
Gusto also sends you an email connecting you to a plan advisor who can help you during setup. You can schedule a meeting with them or call them at the number they provide. If you have trouble at any point in time, you can chat with a Gusto support representative. Just click the green tab on the bottom-right corner of the screen, and a chat window will open. You can also call the phone number in the upper left corner of the screen if you want to talk to customer support instead. Depending on where you are in the process and how you initially access Gusto, some of the screenshots we provide may differ from what you actually see.
- You will have a few options to enter the hours the employee worked.
- When running payroll manually, Gusto takes you through three steps.
- Its three-tier subscription model allows businesses to add features to address the needs of a growing team.
- You can either manually enter the hours of each pay period based on the employee’s time card, utilize Gusto’s simple timekeeping solution, or use a separate timekeeping system.
- If there are problems, they will contact you to make corrections.
We’ll show you how to use Gusto payroll for wage earners or contractors. Customers on business review website G2.com give Gusto 4.5 out of 5 stars, with the most common point of praise being ease of use. The platform uses conversational language instead of accounting jargon to help you assess the needs of your business. Its colorful illustrations and easy-to-use dashboards make the often tedious tasks of navigating payroll and employee benefits seem — dare we say it — fun.
If your pay period runs from Sunday night at midnight to the next Sunday, you may want to pay one week in arrears starting each Friday. You’ll collect hours for the prior week and pay employees Friday for the prior workweek. Payments always happen on a weekday, even if the payday falls on a weekend or bank holiday. In those cases, employees are paid the first business day before the scheduled payday. If you’re using a trial to try out Gusto, you’ll be asked to choose a plan at this time.
From sending digital offer letters to setting birthday reminders, the platform allows you to connect with employees even from a distance. Gusto is a full-service payroll and HR platform designed to grow with U.S.-based startups and small businesses. Gusto takes a day or so to review your account and ensure your information is correct.
Gusto’s Simple plan offers two-day direct deposit, while its Plus and Premium plans offer next-day direct deposit. One drawback is that there’s no mobile app for employers, though Gusto is accessible through your laptop, phone, or tablet. Employees can access their accounts, along with various financial tools, using the Gusto Wallet mobile app.
