What features does Gusto payroll offer?

Q: What features does Gusto payroll offer?

Gusto Payroll offers a variety of features including payroll processing, tax filings, direct deposit, employee self-service, time tracking, benefits administration, and more.

Gusto Payroll is a comprehensive payroll service designed to simplify and automate the process of paying employees for small to medium-sized businesses. Gusto offers a variety of features that extend beyond payroll processing, catering to the diverse needs of business owners. Below is a detailed overview of Gusto Payroll's key features, organized by categories such as payroll processing, tax compliance, employee benefits, and integrations.

Payroll Processing

Automated Payroll

Gusto automates the payroll process, making it easy for business owners to set up and run payroll with minimal effort. With automated payroll, users can schedule payroll to run on specific dates, and Gusto takes care of the rest, including calculating wages, taxes, and deductions. The platform also supports different pay schedules, such as weekly, bi-weekly, and monthly, catering to different business needs.

Direct Deposit and Paper Checks

Gusto offers both direct deposit and paper check options for employee payments. Employees can receive their pay directly into their bank accounts, ensuring a secure and timely transfer of funds. For businesses that prefer traditional methods, Gusto can also print and mail paper checks on behalf of the employer.

Multiple Pay Rates and Bonuses

Gusto supports businesses with diverse pay structures by allowing them to set different pay rates for different employees or roles. This is particularly useful for companies that employ both hourly and salaried workers. Additionally, Gusto enables businesses to process one-time payments such as bonuses, commissions, and tips with ease.

Employee Self-Service Portal

Gusto provides an employee self-service portal where employees can access their pay stubs, tax documents (like W-2s and 1099s), and personal information. This feature reduces administrative overhead for businesses by empowering employees to manage their own payroll-related data.

Tax Compliance

Automatic Tax Calculations and Filings

One of Gusto's standout features is its automatic tax calculation and filing capabilities. Gusto calculates all federal, state, and local payroll taxes accurately and ensures that they are filed and paid on time. This feature minimizes the risk of human error and potential penalties for late payments or incorrect filings.

Year-End Tax Forms

Gusto takes care of year-end tax forms, including W-2s for employees and 1099s for contractors. These forms are generated automatically and made available in the employee self-service portal. Additionally, Gusto handles the electronic submission of these forms to the IRS, ensuring full compliance.

Tax Compliance Support

Gusto offers support for various tax jurisdictions and keeps up with changing tax laws to ensure businesses remain compliant. The platform provides resources and alerts to help employers understand their tax obligations, further reducing the risk of non-compliance.

Employee Benefits

Health Insurance Administration

Gusto offers integrated health insurance administration, allowing businesses to provide medical, dental, and vision insurance to their employees. The platform partners with leading insurance carriers to offer a wide range of plans, helping employers find the best options for their teams. Gusto also handles the enrollment process and the deduction of premiums directly from employee paychecks.

Retirement Plans

Gusto provides access to 401(k) retirement plans through its partnership with Guideline. These plans are designed to be easy to set up and manage, with low fees and no minimum contribution requirements. Gusto automates the process of deducting contributions from employee paychecks and ensures compliance with federal regulations.

Workers' Compensation

Gusto partners with AP Intego to offer workers' compensation insurance. This coverage helps businesses protect their employees in case of work-related injuries or illnesses. The platform automates premium payments based on actual payroll data, ensuring that businesses are only paying for the coverage they need.

Paid Time Off (PTO) Management

Gusto simplifies the management of paid time off by allowing businesses to set custom PTO policies and track employee accruals and balances. Employees can request time off directly through the Gusto platform, and managers can approve or deny requests with a single click.

Integrations

Accounting Software Integration

Gusto integrates seamlessly with popular accounting software such as QuickBooks, Xero, and FreshBooks. This integration allows businesses to sync payroll data automatically, reducing manual entry and minimizing errors. It also helps maintain accurate financial records, which is essential for tax filing and compliance.

Time Tracking Tools

Gusto offers integrations with various time tracking tools, such as TSheets and Homebase. These integrations allow businesses to track employee hours accurately, making it easier to calculate pay, overtime, and comply with labor laws. The integration also streamlines the payroll process by automatically importing hours worked into the Gusto platform.

HR Tools

Gusto includes basic HR functionalities like onboarding, employee surveys, and document management. Additionally, it integrates with advanced HR tools like BambooHR and Namely, allowing businesses to manage all aspects of their employee lifecycle from a single platform.

Advanced Features

Compliance Alerts and Resources

Gusto provides compliance alerts to help businesses stay aware of changing laws and regulations. The platform also offers a comprehensive library of resources, such as employee handbooks and HR guides, to help businesses navigate complex compliance issues.

Customer Support

Gusto offers multiple channels of customer support, including phone, email, and live chat. Their support team is knowledgeable and ready to assist with any questions or issues that arise, from payroll processing to tax compliance.

Conclusion

Gusto Payroll offers a robust suite of features that cater to the diverse needs of small to medium-sized businesses. From automated payroll processing and tax compliance to employee benefits and integrations, Gusto simplifies the complexities of managing payroll. With its user-friendly interface, comprehensive feature set, and strong support, Gusto is a popular choice for businesses looking to streamline their payroll and HR operations.