OnPay is a cloud-based payroll service that has a lot of functionality. Many small business owners are using this platform because it is easier to use. OnPay offers a complete payroll solution to business owners, and it makes the job of company managers easier.
The platform is also known for its flexibility and functionality. When used by managers, they can set an unlimited payroll scheme monthly. The reports are automatically generated, and the program will calculate everything in an instant – including taxes, deductions, and other modifications.
OnPay updates their systems periodically, and one of the newest additions on the platform is a dashboard that displays conversations, file vault, and an enhanced employee portal. The company is also working on the development of a dedicated mobile application that will make it easier to process payrolls wherever you are on the planet.
The Target Market of OnPay
OnPay’s target market is business owners who wanted to create an instant payroll for their employees. Many businesses that hire freelancers are using this platform because they can finish the payroll in minutes. Small business owners also rely on this platform to create their employee’s payroll.
They are currently in the process of improving their system and they wanted to increase their target market. The company expects that more businesses will use their platform in the future. They are also experimenting with how a dedicated app should work to encourage more people to use their software.
How Much Is OnPay?
OnPay offers one of the most reasonable prices for payroll management services. For only $36 per month, you can use all of the features on the platform. You should also pay a monthly fee of $4 per employer. When compared to their competitors, they offer a reasonable pricing for their services.
Setting Up the Program
In smaller businesses, setting up the payroll application is the most labor-intensive part. There are hundreds of details that you should enter, and it is important to check the accuracy of information encoded. Every mistake that you have on the payroll can have a negative effect on the life of your employees.
With OnPay, you are given two choices – enter the information yourself using their helpful wizard, or request for the company to do the encoding. If you are too occupied with managing your business, asking OnPay for assistance is the most recommended move on your part.
The company employs a lot of payroll expert who do data entry work. They are the ones who enter the information, and the information is constantly verified. OnPay is proud of their high accuracy stats when it comes to data entry. The company is also taking responsibility for every mistake committed.
If you wanted to enter the details yourself, OnPay will provide you with a wizard. It was only introduced last year, and it simplified the whole process. When using the wizard, you will be presented with five steps. What you need to do is to follow the steps carefully and you are good to go.
The wizard will require information like company name, officer information, contact details, and banking detail. If you left some of the spaces blank, the setup will not proceed. Make sure that you enter the right details when doing the data entry by yourself.
Five Steps in Creating a Payroll through OnPay
Pay Schedules
This is the first thing that you should do once you accessed the wizard. Creating multiple schedules will enable you to identify the right payment frequency for an employee. In a company, employees have different schedules, and by using OnPay, you can create a comprehensive payment schedule for everyone.
OnPay received praises because their pay schedules are more flexible compared to their competitors. It is obvious that the company has been investing a lot on the improvement of the services that they provide their clients. Through the effective pay schedules that they developed, more employers are choosing OnPay as their platform of choice.
Add Company’s Worksites
The next thing that you should do is to enter the company’s worksites. If you are the owner of the business, you should identify all of the branches that are directly controlled by your company. if you are working for a corporation, make sure to gather the idea about the locations that are included in the payroll that you are creating.
Accuracy is also important when it comes to the addition of worksites. You should double check the information that you enter, and make sure that all of it is correct. A small mistake in the company’s worksites can affect the whole payroll.
Build Employee Profile
OnPay also allows you to build an employee profile. Individuals who work on payrolls agree that creating an employee profile is the most laborious part of the job. If you use OnPay, there are two options that you can choose to enter the data – you can create the record by yourself, or you can ask the employees to enter data about themselves.
Most business owners and payroll managers opt to call their employees and asking them to enter their information into the platform. It saves time and energy, and it also increases the chance for the information entered to be accurate.
Another thing that you should consider is the addition of information like taxes, day-offs, compensations, and deductions. The system automatically calculates everything so you don’t need to worry about the mathematical side of entering employee information.
Lastly, you should define the accrual policies followed by the company. You should indicate in the employee profile how the workers can gain paid time-offs and sick leaves. The pay items that you are using should also be highlighted on this panel.
Set up the Deductions
Identifying the deductions is also important when browsing through the payroll wizard. You should enter the amount that will be deducted, and where it will go. Most deductions are used for retirement and health insurance purposes, but there are other deductions that you should clearly state.
When it comes to deductions, OnPay serves as an insurance broker. They look for the best insurance policies, and provide their clients with the best quotes. Many small business owners are thankful of this feature because they can find the best insurance policies for their workers without spending a lot of money.
Payroll Tax Settings
Supplying information on the payroll tax settings is the last thing that you should do. The wizard will be asking you for details like your Employer ID No., and the payroll information of the state where you are. This has become a standard for most businesses, and OnPay stated that they will make the lives of their clients easier by performing all of the calculations needed.
After completing the wizard, you can start running a payroll. Check if all of the information provided are accurate, and make sure that everything is consistent.
Exploring the Dashboard
After completing the payroll wizard, the system will no longer allow you to go back to the setup. However, you can always edit the information you entered through the settings page. To access it, click the settings icon, and a list of preference will automatically show up.
While inside the preferences tab, you will be given an option to select account settings, payroll deductions, or payroll pay items. You can modify it later on after selecting it form the screen.
Another thing that you will notice on the dashboard is the interactive reports and the breakdown of payroll. Viewing these items will give you a summary of what happened during the latest payrolls. Employees who filed a salary dispute can access this page to determine why they have deductions.
Experience in Using OnPay
OnPay continues to impress their users. Every year, they try to introduce a new feature that makes it easier to create a payroll. On their latest update, the platform displays six icons on the toolbar.
The first option will redirect you to the dashboard. The second option will provide you with the latest information about the employees. A different screen displaying the contractors working with the company can also be viewed.
The third option will enable you to create a payroll, and the fourth one opens a link filled with reports. HR tools can be found on the fifth link, and the sixth option will open the settings page.
Pros
Cons
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Final Verdict
OnPay makes it easier to create a payroll. Its flexibility and depth should be lauded, and it makes the system faster and more understandable. Many small businesses – even those that require advanced needs – should try to use OnPay and see the difference.
Personally, I would like to recommend this program to small business owners. The features offered by OnPay will help them become more productive while at the same time, giving them the ability to create fast and accurate payrolls.
