- Unlimited payruns
- Automated payroll
- On-demand pay
- Trustworthy tax compliance
- Digital wallet
- Resourceful mobile app
- High subscription price
- No refunds
- Unresponsive email support
On the market since 1990, Paycor is a cloud-based solution designed to help businesses with payroll processing, HR and workforce management, and benefits administration. As a human capital management service, Paycor stands out as an all-in-one platform where companies recruit, onboard, and set up payments for new hires.
The platform provides businesses with greater access to their payroll process, allowing them to ensure all payments are accurate, compliant, and on time. Prices start at $99 plus $10 per employee each month, with setup fees occasionally waived. All plans include multiple payment options, employee self-service, and unlimited payruns. Also, the software can be tested for free for 14 days, so administrators can have a glimpse of how much time and hassle they can save if they trust Paycor with their payroll.
Paycor's commitment to keeping up-to-date with tax compliances takes the weight of this responsibility off your shoulders. The software makes calculations based on local and state tax deductions, as well as the W-4 form provided during the onboarding process. If there are any employee tax recommendations or compliance issues, such as missing or invalid Tax IDs, alerts are displayed on the dashboard.
Although this is useful, the layout isn’t the most user-friendly and can be confusing for first-time users. It’s quite slow when loading pages, especially those for payruns, but this is understandable considering the amount of data and resources being processed.
The payroll process is comprehensive and accurate. It includes paid time off, workers' compensations, and even wage garnishments. Each employee has a time card, where administrators can add hours worked for contractors (hourly workers) and full-time employees. There’s a time tracking functionality available as an add-on, allowing staff to punch working hours; the system then automatically adds them to their time cards. Once the hours are collected, gross wages and subtracts deductions are calculated, leaving the amount of each paycheck.
What's more, Paycor doesn’t just deal with paying workforce salaries. It also simplifies and organizes companies' primary HR operations. The software helps manage personnel information, automate tasks, onboard new hires, and set company policies.
Payruns are displayed logically in an adjustable grid, where it's possible to add earnings (bonuses, overtime hours, and others) and deductions (401k, dental and health insurance, etc.) to each employee’s paycheck. All changes are updated in real time, and the payruns are so customizable that administrators can even add a message to employees' pay stubs.
After making all the adjustments, the review page is the place to check everything is correct before approving the payrun. The page neatly displays the liability summary in visually pleasing charts of cash requirements by type, as well as employees and employers’ tax withholdings. Several reports are available, and the pre-post journal lists all employees’ earnings, taxes, and deductions. This gives administrators a simplified overview of the payrun data organized in a shareable file.
All reports are downloadable – some as PDF documents and others in CSV format. The best part is that users don't even have to be logged in to process payroll, as enabling AutoRun makes the system do this automatically on a specific day and time.
Paycor offers various payment options: paper checks, direct deposit, pay cards, and digital wallets. Pay cards are pre-paid debit cards that employers load workers’ wages onto. This method is useful for companies to pay all staff electronically, including team members who don’t have a conventional banking setup.
Pay cards can also be used and stored digitally in a virtual wallet app, so employees can access their payments using their smartphones. This eliminates the need for a physical card and expedites payment, as workers can receive a direct deposit up to two days before payday.
Another function that makes Paycor stand out among its competitors is on-demand pay. It gives employees instant access to their wages so they can see what they’ve earned and spend up to 50% of their funds before payday.
Paycor’s mobile apps for Android and iOS play a significant role in the software’s usage. This is because staff can access their digital wallet, pay stubs, W-2 and benefits information from the mobile app. Furthermore, the employee self-service feature allows workers to fill in and update personal details, saving administrators precious time.
Another great advantage of the mobile app is that collaborators can clock in and out on the go, which is especially handy for hourly workers who aren’t in an office, like builders, cleaners, and plumbers. Additionally, administrators can approve payroll from wherever they are, using their mobile devices.
Integrations and Extra Services
Paycor offers a comprehensive network of partners in its integrations marketplace. The software integrates with over 200 third-party apps, allowing companies to streamline their businesses while gathering all information in only one platform. These services include accounting software, benefits administration, and time and workforce management, to name but a few.
The company also gives users access to their RESTful APIs so they can build their own apps and connect them with the platform. All the APIs can be explored on the Developer Portal, a dedicated space for learning about and trying out each API.
Paycor’s pricing structure is a bit of a mission to understand, as the website doesn't display prices and billing cycles in the clearest way. The company offers four plans for businesses with fewer than 50 employees: Basic, Essential, Core, and Complete. Businesses with over 50 employees need to contact the company for a custom quote. It’s important to mention that these bigger companies are eligible for a 3-month free trial by filling a contact form on Paycor’s website.
For $99 per month plus $5 per employee per month, the Basic plan is for companies that need only standard payroll and tax services. It includes the main payroll features like tax filing, online reporting, and on-demand pay. The software can be tested for free for 14 days using a dummy account, which gives users a comprehensive overview of its many tools. However, login credentials aren't provided, making it impossible to test the mobile app during the trial.
Companies willing to invest more to have advanced payroll and HR features should go for the Essential plan, which offers tools that facilitate recruiting, hiring, and onboarding processes. The Core plan adds on-demand HR Support Center, a perk that provides one-to-one guidance from a certified HR professional. Finally, among the extras that come with the Complete plan are analytics like benchmarking and compensation insights, along with talent management.
Although Paycor’s prices aren’t the most affordable, unlimited payruns are included in all plans, and the subscriptions can be customized to include additional time-tracking and recruiting services. However, there are other drawbacks to the software’s pricing, such as the lack of annual billing cycles and only two payment methods: ACH or wire transfer. The company also charges setup fees, but occasionally runs special offers that waive them. Additionally, Paycor sometimes provides 50% off the first year of usage. However, keep in mind that some restrictions apply, so make sure to read the promotion’s terms and conditions with attention.
Paycor’s website has an FAQ page with answers to employees and administrators’ questions, which go from changing a password to when W-2 is available. There’s also a Support Center that administrators can log into and find further information. Live support is available via chat or phone during weekdays from 8 a.m. to 8 p.m. (EST) for payroll and from 8 a.m. to 6 p.m. (EST) for other queries.
Although the support team can also be reached via email, we tried contacting them twice and didn’t get an answer. This way, we recommend contacting them through the live options for urgent matters. That being said, it’s worth praising the company’s customer hub, which contains training sessions, courses, and webinars about Paycor’s products and tools. Additionally, Paycor actively shares articles and news about its platform on Facebook, Twitter, and LinkedIn.
Paycor’s extensive list of payroll features and HR tools, along with over 200 integrations, save businesses the trouble of relying on multiple platforms to run administrative tasks. For instance, real-time calculations, automation, and comprehensive reports streamline payroll processing save businesses time while ensuring compliance with taxes requirements.
Although the software’s subscription base prices are pricey, all plans include unlimited payruns and it’s worth your money if you’re looking for HR tools other than just payroll processing. Also, the mobile app is excellent for employees to track working hours, check pay stubs, and even access payments in advance. Additionally, there’s a way to save some money through the company’s occasional deals. But before opening your wallet, take advantage of the 14-day free trial to decide whether Paycor is the right payroll software for your business.
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