There’s no question about it: being a therapist is tough. You have to deal with your own complex and sensitive issues, help your clients cope with their challenges, and maintain your own health and well-being.
The last thing you need on your plate is the added stress of managing payroll for yourself and your employees.
Whether you’re planning on riding solo and hiring support staff to keep the ground running as an independent therapist or partnering up with other esteemed therapists to erect a group practice, choosing the right payroll software can be a deal-breaker.
Why? Because if you pick the wrong software, you may accidentally subject yourself to administrative tasks that you do not have time to do, which consequently takes a toll on the quality time you’re able to offer to your clients.
So why don’t we help make your life that little bit easier?
In this article, we’ll delve into which payroll software is best for therapists so that you can get your business running without any added hassle.
What is payroll software and how can it help therapists?
First things first, let’s break down the basics. Payroll software is a solution that manages employee payments. In simple terms, it helps organize and automate the payroll process by calculating paychecks, tracking expenses, monitoring hours, and more, all in one place.
For therapists, choosing the right payroll can be of significant help in many, many ways, including:
Saving you time and money by automating tasks and reducing the manual hours you need to put in, which in turn frees up your time to carry out profitable activities.
Keeping you in the loop with the latest changes in law and regulations by helping you file the right forms at the right time.
Make sure your employees are paid on time, every time, thereby instilling greater confidence in you as a business owner and boosting the morale of your team.
Now the question stands: which payroll software do you choose as a therapist? There are many options out there, all of which come with their own set of benefits which can make it hard to differentiate. To help narrow your choices, we’ve provided a comprehensive review of a handful of our favourite payroll software for therapists below.
One of the best payroll software for therapists, in our opinion, is Gusto, an award-winning payroll solution tailored to businesses of any size. Gusto offers three no-nonsense plans for small to mid-size businesses without any hidden costs.
Staying compliant with tax regulations can be a challenging task for therapists. Gusto takes this burden off your shoulders by automatically calculating and filing federal, state, and local taxes. It also generates and distributes W-2 and 1099 forms, saving valuable time and avoiding penalties associated with incorrect filings.
Better yet, Gusto works as more than just a payroll software: it provides you with basic human resources (HR) input, hiring tools, tax credit discounts, and employee benefits depending on your package of choice.
By using Gusto, your employees can also sign onto a self-service portal and integrate the software with other popular software, making the transition seamless. Think it’s tricky to add new employees to Gusto’s portal? Think again. When hiring new therapists or staff, Gusto streamlines the onboarding process. It facilitates the creation of digital offer letters, custom contracts, and the collection of necessary employee information, making the entire process quick and hassle-free.
Gusto’s pricing is as transparent and wonderful as its other services, with plans starting at just $40 per month, scaled up depending on the additional input you require.
Despite it being a newcomer in the payroll software world, and aside from the occasional glitches and limited customizable options, Gusto’s top-end reviews are indeed justified, ranking it among the top payroll software companies for therapists.
2. Paychex Flex
Yet another great payroll software option for therapists is Paycheck Flex. With over half a century of experience facilitating payroll processes for businesses small and large, Paychex Flex puts up a fair fight for the position of the leading payroll software for therapists.
Paychex Flex provides geographically-centred services for organizations whose employees are constantly on the move. Its core capabilities include payroll, insurance services, HR, employee benefits, and so much more, making it a scalable solution for larger organizations.
The streamlined payroll system offered by Paychex Flex makes it an attractive choice for therapists. After all, who doesn’t want the chore of manual payroll to be taken off their hands? By easily calculating employee hours, overtime, and deductions, paychecks can be made with ease without the added burden of a mathematical error.
Like Gusto, Paychex Flex also automatically sorts out your taxes, but this ultimately depends on your membership level. Paychex’s Flex Essentials membership plan is competitively priced at $39/month, though additional information on the higher-end plans is lacking, warranting a call with their sales team.
Paychex Flex provides rather comprehensive analytics, which may offer therapists with larger companies with more valuable insight into their data. Its comprehensive suite of services empowers therapy practices to focus on providing quality care to their clients while efficiently managing their payroll operations.
OnPay is a robust cloud-based payroll solution for therapists and therapy clinics that offers several benefits. With its user-friendly interface and comprehensive features, OnPay makes payroll management so much easier, ensuring your experience in sorting out both your and your employees’ finances is made seamless!
OnPay offers just one simple all-in-one plan priced at just $40 per month, with the added option of adding another person for a set monthly fee, as with Gusto and Paychex Flex. OnPay’s plan includes unlimited payroll runs, automatic tax filing, PTO tracking, direct deposits, and insurance plans, among many other services that can benefit your therapy practice.
Being easily customizable, small businesses can benefit from OnPay’s flexibility and report-designing tools to generate the reports you need.
OnPay’s downfall, however, is its limited integrations. Unlike Gusto and Paychex, OnPay can only be integrated with a handful of business solutions. Additionally, OnPay’s lack of global presence makes it more difficult to hire employees outside of the USA.
A small price to pay for your business to roll on
Overall, we feel that Gusto takes the lead for small businesses such as therapists and therapy practices. Why? Because even Gusto’s most affordable plans provide an impressively compressive list of services and payroll services useful for therapists.
If, however, you’re looking for a wider array of added benefits such as health insurance or an entire HR system, then Paychex may be your best bet. Ultimately, the best payroll software for you will depend entirely on your business needs. If you’re unsure what those are, then give us a call!