An hourly paycheck calculator can be an especially efficient tool when processing your employee payroll. Finding and choosing a good calculator, however, involves a bit more than getting the first free one you find online, or the cheapest app you can buy.
Hourly Paycheck Calculators - What Makes For A Good Payroll Calculator?
One of the biggest considerations every small business owner has is time spent doing work that could be either delegated or automated. With the evolution of digital tools and online services, much of what you find yourself or your managers doing can and probably should be eliminated.
Using an hourly payroll calculator, either online or as an app on your own computer, is a great way to reduce much of the tedious work involved in processing payroll every pay period. It can free you from having to do all the payroll tax filings and payments. One of the features you will want to look for is a calculator that is either set up for your particular state, or one that can be set for the state you are in.
Of course, if the payroll calculator you choose is to be efficient it means that the originator is keeping up with federal, state and local laws, regulations and changes. In addition, depending on the version you choose, you should have access to support for any questions or problems you might have.
Three Considerations For Hourly Payroll Calculators:
- Simple or Service: Using an online tool or computer-based application can make your payroll processing life easier, but there can be a Catch-22 involved: the easier the program is to use, the less likely there will be ready support for it. Again, a free calculator may be simple and user-friendly, but it may not provide all the features you really need to make your job easier. And you may find there is little or no service support for the tool.
- Free or Paid - Many businesses, usually payroll management service providers, will have free payroll or paycheck calculators available on their websites. But not all calculators are created equal and many free versions are basic and limited in their features. On the other hand, while fee-based or subscription-based calculators are almost always robust, full-featured tools, the cost can sometimes be prohibitive for very small businesses.
- Small or Big: One other thing you want to consider when deciding on an online payroll calculator is how big of an operation are you? If you only have, say, less than 10 employees to pay, then you might want to consider this alternative. However, if you have dozens or even hundreds of checks to cut every week to different vendors and suppliers, in addition to employees, then a full-service online payroll calculator and processing service may be a better investment.
Features you will want in a payroll calculator:
- Computes federal and state tax withholding
- Calculates flexible, hourly, monthly or annual pay rates, including bonus or other earning items
- Social Security Tax
- Medicare Tax
- Disability Insurance
In addition, you should look for a calculator that:
- Provides for public employees and exempt employees paycheck calculation
- 401k, HSA and other special deductions
- Includes Current year-to-Previous period information
- Ability to print pay stubs with detailed summary or paychecks
- Mobile functionality that allows use on a mobile app
One of the excellent features of the Accuchex website is our selection of payroll calculators that are available for free. Here is a brief description of each one:
Hourly Payroll Calculator
The per hour payroll calculator estimates take-home pay for hourly employees after tax obligations and other deductions are kept.
Salary Payroll Calculator
The salary payroll calculator determines take-home pay for salaried employees after tax obligations and deductions.
Gross-Up Payroll Calculator
With our gross-up payroll calculator, you can compute gross pay based upon net earnings and allow for adjustments in 401(k) contributions, deductions for insurance and similar scenarios.
When to Move On From an Hourly Paycheck Calculator
While using calculators and investing in the best available software are viable options, the next step you should consider is outsourcing. This can be simply outsourcing one process such as payroll. However, with a full-service provider such as Accuchex, you have additional options for outsourcing as well.
Let Accuchex help you in managing your HR needs, payroll processes, and staying on top of compliance demands. Get your Free Download: Payroll Outsourcing Guide to help you make an informed decision or call Accuchex Payroll Management Services at 877-422-2824.