- Quick and simple payroll
- Well priced
- Accurate time management
- Extra free services
- Lack of integrations
- No mobile apps
Small startups, growing businesses, successful companies: regardless of size, every business needs to have good payroll software. For employees, there’s nothing better than payday, whereas for employers it’s important to get payroll done as quickly and efficiently as possible. Luckily, there are plenty of companies that have developed ways to make the whole process easier, including Atlanta-based FINSYNC, which has been providing payroll solutions since 2011. FINSYNC’s customers get much more than payroll though, with accounting and cashflow services being just a selection of what it has to offer. It also has its own unique time management app – dubbed Time Clock – to ensure that every payable second is accounted for. Payroll services begin at just $40 a month, and FINSYNC offers a free seven-day trial so you can see how well it fits into your business.
Once you’ve set up FINSYNC, you’ll soon notice it’s designed to make the potentially stressful and time-consuming process of payroll as speedy and uncomplicated as possible. This is helped by having a simple web-based user interface that will have people completely alien to payroll software soon finding themselves processing payroll. This is especially true if your employees or contractors are using FINSYNC’s time management app in which case much of your work will be already done for you.
Indeed, FINSYNC is able to manage everything you need to fully complete payroll, including tricky tasks like tax reporting. FINSYNC files tax returns and remits for you, generating W-2 and W-3 reports automatically. We’d also recommend you take advantage of FINSYNC’s cash flow management services which, although coming at an extra cost, fit in perfectly with the payroll software. These extra services allow you to adequately budget your future payrolls using ‘what if’ adjustments to make sure you’re ready for anything.
After payroll is complete, setting up reports is quick and easy. Payroll reports are on hand at the click of a button, and there’s an archive of all past payments. Your reports can then be downloaded and printed, although we would like to see a higher level of reports customization like that which is often seen in other payroll solutions.
You can pay both full-time employees and contractors with FINSYNC, and payments are processed either by direct deposit or by sending out a physical paycheck. There are various options for what file type the digital pay slips will be saved as – including PDF or CSV – and they’re all easily printable. Payments can be scheduled at different intervals including weekly, biweekly, semimonthly, and monthly.
There’s no need to worry about getting payroll deductions done right: healthcare, insurance, loans, and 401(k) plans are fully customizable for all your employees. Vacation and leave time are also comprehensively tracked to cover just about every situation.
Integrations & Extra Services
FINSYNC doesn’t have as many integrations as its rivals, but the company’s offering already provides many extra services. Invoicing, payments, cash flow, accounting, and more can all be included in your package – some even for free.
FINSYNC also has its own time management app, Time Clock, which allows employees to clock in or out through their phones. Although Time Clock doesn’t have a dedicated app, it’s accessible through any mobile browser. Employers also have the option to use geofencing to ensure employees clock in at a specific location or from a specific IP address.
The cost of FINSYNC depends on what you want to get out of it. If you’re only interested in payroll software, you’ll be paying $40 every month with an extra $4 per payday for each employee. However, this price does come down for companies with over ten employees, and the FINSYNC website has a handy payroll processing fee calculator. As an example, a company with ten W2 employees paid on a monthly basis will cost $45 per month to process, but that cost is reduced to $44 if an eleventh employee is added. You can try it out for yourself to see the effect of different payment intervals or switching between employees and contractors.
Although you may only be in the market for payroll software, it’s worth taking advantage of FINSYNC’s free services and financing. The company also provides payment and cash flow management for $10 and $45 per month, respectively.
You can test out FINSYNC’s payroll service by taking advantage of a free seven-day trial. What’s more, FINSYNC claims that you won’t have to pay if you’re not satisfied with the service, making it risk-free to sign up. However, the FINSYNC website doesn’t go into further detail about the exact conditions of this offer.
It’s always reassuring to know that you have support just in case something goes wrong while processing payroll, and FINSYNC really delivers in this area. Support is available via email, live chat, and over the phone. While not 24/7, live chat and phone support are available Monday to Friday 7 a.m. to 7 p.m. You can find FINSYNC on Facebook and Twitter, but despite these being regularly updated they’re not the best methods of contacting customer support.
There’s plenty of information about FINSYNC to help you get your head around the software. The FINSYNC website has a large number of guides to help you every step of the way, although one thing we would like to see in future is a dedicated FAQ page to find answers to the most common issues. On the FINSYNC website you can also find best practices and a blog with a category dedicated to the latest payroll news.
FINSYNC is a flexible, efficient solution that gets payroll done easily for a reasonable price. The Time Clock feature in particular is a great time management tool that makes sure payments are perfect, although it would be nice to see a mobile app for it. FINSYNC does well in providing many services itself like accounting, payments, cash flow, and more, but there is a distinct lack of the further integrations found in other payroll software. Due to this lack of integrations, larger businesses may not find FINSYNC able to do everything required and might want to look elsewhere. However, if you run a small to medium-sized business then you may find that the number of features more than suits your needs.
Best Alternative Online Accounting Software
|Editor's Choice 2020|