Find the best Direct Deposit Payroll Software

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Asure Payroll & Tax Management

Asure’s end-to-end Payroll, HR, and Time and Attendance solutions were developed specifically for small to mid-sized businesses. With the modern Asure platform, remain compliant, support your employees, and free up time to focus o...Read more about Asure Payroll & Tax Management

4.3 (57 reviews)

184 recommendations

Rippling

Rippling gives businesses one place to run HR, IT, and Finance. It brings together all of the workforce systems that are normally scattered across a company, like payroll, expenses, benefits, and computers. So for the first time e...Read more about Rippling

4.9 (3046 reviews)

164 recommendations

Paycom

Paycom offers user-friendly HR and employee-driven payroll technology to enhance the employee life cycle, in a single software. Paycom drives efficiencies, increases data integrity and gives employees power over their HR informat...Read more about Paycom

4.4 (889 reviews)

126 recommendations

isolved

isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today’s People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce ...Read more about isolved

3.9 (515 reviews)

124 recommendations

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Justworks

Justworks makes it easier to start, run, and grow a business. With Justworks, entrepreneurs and their teams get access to big-company benefits, automated payroll, compliance support, and HR tools - all in one place. Justworks PEO...Read more about Justworks

4.6 (720 reviews)

96 recommendations

BambooHR

Instead of using fragmented spreadsheets, limited or clunky software, and physical paper, BambooHR helps you centralize your data and automate the way you complete key HR tasks. As you hire, onboard, and pay your employees, every ...Read more about BambooHR

4.6 (2813 reviews)

72 recommendations

GoCo

GoCo is a cloud-based human resources, benefits and payroll solution designed for small businesses. The platform automates the process of collecting required documents for newly hired talent, enrolling new employees in benefits pl...Read more about GoCo

4.6 (107 reviews)

58 recommendations

WorkforceHub

WorkforceHub is a cloud-based time, attendance, and leave management system for small to mid-size businesses. This software can capture time data from web-based clocks or physical clocks for employees onsite, mobile, and working a...Read more about WorkforceHub

3.0 (3 reviews)

57 recommendations

Dayforce HCM

Dayforce makes work life better. Everything we do as a global leader in HCM technology is focused on improving work for thousands of customers and millions of employees around the world. Our single, global people platform for HR, ...Read more about Dayforce HCM

4.3 (957 reviews)

49 recommendations

Paylocity

Paylocity is a cloud-based human capital management (HCM) platform that provides human resources and payroll management tools to help businesses manage core HR functions. Key features include payroll processing, benefits administr...Read more about Paylocity

4.3 (839 reviews)

43 recommendations

Rise

Rise is a cloud-based human resources (HR) solution that helps companies engage with their employees and action all HR functions such as managing time and attendance, managing payroll and create customized workflows. The platform ...Read more about Rise

4.1 (128 reviews)

12 recommendations

Netchex

What is Netchex? Netchex is a cloud-based human resource (HR) and payroll management solution designed for businesses of all sizes. Key features include recruiting and onboarding management, performance management, payroll managem...Read more about Netchex

4.5 (155 reviews)

9 recommendations

Humi

Humi is a best-in-one HR, payroll, and benefits software solution for Canadian businesses. A flexible platform for all of your people operation needs, Humi stores employee data and streamlines tasks related to onboarding, time off...Read more about Humi

4.4 (106 reviews)

9 recommendations

Darwinbox

Darwinbox is a new-age and disruptive mobile-first, cloud-based HRMS platform built for large enterprises to attract, engage and nurture talent. It is an end-to-end integrated HR system consisting of modules like performance, leav...Read more about Darwinbox

4.3 (41 reviews)

8 recommendations

Collage HR

Collage is a cloud-based human resources (HR) and benefits management platform built for the needs of small and midsize businesses. Collage also digitizes group benefits enrollment and can sync with any insurance provider in Canad...Read more about Collage HR

4.2 (52 reviews)

6 recommendations

Vista

PDS’ Vista is the complete HCM software solution for organizations with employees based in the United States, Canada, or the Caribbean. All the pieces—recruiting, onboarding, human resources, benefits, payroll, time and attendance...Read more about Vista

4.6 (16 reviews)

6 recommendations

Criterion HCM

HCM Without Compromise. Criterion provides human capital management (HCM) software for midmarket organizations, helping organizations in construction, financial services, nonprofits and higher education streamline their critical ...Read more about Criterion HCM

4.3 (13 reviews)

6 recommendations

WebHR

WebHR is a cloud-based human resource management solution that helps organizations manage their employees' employment lifecycle, from the time they were hired to retirement. The solution merges functionalities provided by human re...Read more about WebHR

4.3 (525 reviews)

4 recommendations

Eddy

Eddy is the all-in-one HR Suite built for local businesses. With Eddy, businesses can streamline tedious HR processes and improve their employee experience by moving away from paper and spreadsheets and into our intuitive, web-bas...Read more about Eddy

4.6 (45 reviews)

4 recommendations

Triton HR

Triton HR's cloud-based, HR solution for small to midsize companies, integrates payroll services, employee benefits, and essential HR applications into a cloud-based single single sign on system. Tailored to fit a broad spectrum o...Read more about Triton HR

No reviews yet

4 recommendations

Buyers Guide

Last Updated: March 16, 2023

What Is Direct Deposit Payroll Software?

Direct deposit payroll software is a tool that enables organizations to process salaries, make deductions, calculate bonuses, and manage employee time off. The software allows organizations to set up a recurring process with banks to transfer money from their bank account to employees’ bank accounts on a specific day every month.

Any business with paid employees should be using a dedicated payroll solution. To make the payment process transparent and convenient, businesses of any size can opt for direct deposit payroll software.

Direct deposit is a form of electronic payment via ACH (automated clearing house) that many organizations use to pay their staff. Even the U.S. federal government uses it to send social security payments.

Directly depositing employee salaries to their bank accounts saves the cost of paper checks, is environment friendly and lowers the chances of fraud due to loss or theft of paper checks. Direct deposit payroll software helps out by processing unlimited transactions to meet your staff's payment needs.

We created this buyer's guide to help you understand how this software works. We're detailing everything you need to know before you choose a solution for your business.

Here's what we'll cover:

What Is Direct Deposit Payroll Software?

Common Features of Direct Deposit Payroll Software

What Type of Buyer Are You?

Benefits of Direct Deposit Payroll Software

Key Considerations

This type of software also makes it easy and safe to consistently pay staff salaries. Businesses can set up a recurring process with their banks to electronically transfer the money from their savings or checking account into the employees' bank accounts on a specific day every month.

SurePayroll's-direct-deposit-records-view

Direct deposit records in SurePayroll software (Source)

Common Features of Direct Deposit Payroll Software

Vendors in this market offer a variety of functional breadth and depth in their solutions. Let's look in detail at the common capabilities of direct deposit payroll software:

Direct deposit

Lets users deposit employee salaries directly into their bank accounts on the payout day each month. The software automatically withdraws funds from your bank account and deposits it into employees' bank accounts.

Tax management

Calculates state and federal payroll taxes automatically and deducts the correct amounts from employees' salary. It also considers tax exemptions that the government offers to employees to reduce their taxable gross income.

Employee time off management

Allows employers to track time off hours that they've allowed, have been taken by employees and are left remaining as sick days or paid vacation time.

Employee portal

Allows employees to access and manage their personal information. They can also perform a few functions, such as viewing their time off activity or leave balance.

Third-party integrations

Lets users integrate the direct deposit payroll software with other existing systems in the organization such as HR and accounting software.

If you need help determining which vendors offer which specific features, give our advisors a call at (855) 998-8505.

What Type of Buyer Are You?

Before you start evaluating various direct deposit payroll software, you should know which buyer category you fall into and what that means as you choose direct deposit software. We believe most buyers can be categorized as one of the below types:

Small businesses. These buyers focus on basic day-to-day requirements such as depositing employee salary, calculating taxes quickly and managing employee time off efficiently. They require a simple, dedicated direct deposit payroll software that fulfills their needs and can be scaled up over time. They're mainly looking to streamline their payroll process at an affordable price.

Midsize businesses. Apart from the basic capabilities, these buyers may need additional and more advanced features. They usually have an established HR team, so they'd also need third-party integrations with existing HR software to import/export employee data.

Large businesses. These buyers need almost all the features in a solution. They ideally look for a full-featured solution that's part of a suite that covers extra modules, such as HR and accounting, for smoother operations. Due to a larger number of employees and to avoid the hassle of handling everyone's daily needs, they may also require an employee portal that allows employees to access, view and manage their personal information at any time.

Benefits of Direct Deposit Payroll Software

While a streamlined payments process is the most important benefit of this software, here's a list of additional benefits:

Safety and reliability. The direct deposit process is a convenient way to pay employees on the payout day itself, regardless of their location. Paper checks can get delayed in reaching the bank due to bad weather, misplaced checks, employees on vacation etc. Any of these reasons could result in employees not getting paid on time, which can put a financial strain on their personal lives.

However, direct deposit isn't dependent on any such factors. Businesses can easily set up the software and ensure stress-free pay schedules for themselves and their employees.

Time and cost savings. Employees who receive paper checks may feel the need to leave work on payout days to deposit their check during business hours. This means low productivity on payout days. As the software automatically credits the salary into employees' bank account, you save their time as well as your organization's.

In addition, you'll no longer have to spend hours writing or printing checks. With direct deposit payroll software, you also save on costs for paper checks, postage, shipping and packaging.

Key Considerations

Now that you're aware of the features and benefits of direct deposit payroll software, you should consider purchasing the software to automate pay distribution. Here's a list of questions you should ask the vendor before shortlisting suitable solutions:

Is the software scalable? Check whether the direct deposit payroll software you're considering will adapt and scale up as your business grows. The software should automatically add new employees to the distribution list when they're onboarded. Make sure you ask the vendor whether you'll be charged extra for adding new employees.

Does the software support integration? Ask vendors whether their solution supports integrations with your existing applications such as HR and accounting systems. Be specific about all the stakeholders who'll use the software and the effort, time and costs associated with integrations.

Does the vendor offer customer support? Find out whether the vendor offers support 24/7, only during business hours or not at all. Also, ask for the available support options such as email, phone or live chat. Make sure to ask the vendor about their usual response time, so that you're able to get your employees' salary issues and queries resolved on time.