Paychex Flex Review

Paychex Inc.
Product:
Vendor:
Founded:
Headquarters:
Paychex Flex
Paychex Inc.
1971
Rochester, NY
Ownership:
Customers:
Deployment Model:
Free Trial:
Public
730,000
Cloud
No
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Paychex Flex At A Glance

Good: Streamlined processes, dedicated support experts to help businesses navigate complex issues, flexible paycheck options.
Bad: Some users have experienced a steep learning curve and have mentioned the interface is outdated.
Bottom Line: Cloud-based software that empowers small and medium-sized companies to improve their productivity and grow their business.

Product Overview

Paychex Flex is cloud-based payroll software that helps small and medium-sized businesses streamline their payroll processes. Administrators can run payroll in two clicks, even while on the go. Employees can see their paystubs and make changes to their personnel info without HR’s involvement.

Paychex Flex integrates with Paychex Flex Time, a time and attendance software, which eliminates manual data entry.

The software has three packages clients can choose from based on their needs:

  • Paychex Flex Essentials – Paychex Flex Essentials is intended for small businesses and includes features, such as online payroll, tax administration, direct deposit, check printing, a mobile app, new-hire reporting, employee self service, employee financial wellness tools, standard reporting and analytics templates, garnishment payment services, automatic W-2 and 1099 forms, HR and business forms, employee onboarding and a labor compliance poster kit. Paychex offers these features at an additional cost: paycheck preview and approval, recruiting, performance management, pre-employment screening, document management, time and attendance, API integration, business insurance, retirement services and employee benefits.
  • Paychex Flex Select – Paychex Flex Select includes all of the features of the Paychex Flex Essentials package, plus a learning management system.
  • Paychex Flex Pro – Paychex Flex Pro includes all of the features of the Paychex Flex Select package, plus a general ledger service, integration with general ledgers in accounting software, state unemployment insurance services, workers’ compensation payment services, pre-employment screening and an employee handbook builder.

Features

Here are some key features of Paychex Flex:

Payroll processing – In the Payroll Center, administrators can run payroll and customize any earnings and deductions. With the dashboard, they can see their payroll journal, check stubs, cash requirements and other important information at a glance. The software has built-in safeguards to ensure payroll runs are accurate, including notifications of discrepancies in the data. Paychex Flex has multiple pay options for employers, such as direct deposit, check printing and paycards.

Tax management – Paychex Flex provides employers with automatic federal, state and local payroll tax calculations, filing and payment. In addition, it provides W-2 and 1099 forms to employees and contractors. Paychex Flex can help businesses claim tax credits (e.g., Work Opportunity Tax Credits, location-based credits) by identifying and automatically applying for them, and it also reports new hires to the appropriate government agencies.

Reporting and analytics – The software has over 160 standard reports on various metrics. Administrators can quickly find specific reports in the All Reports tab, as well as save their commonly-used reports in their Favorites list. As mentioned, the Paychex Flex Enterprise package provides custom reports and analytics, so administrators can create reports using custom parameters.

Benefits administration – The vendor offers integrated employee benefits tools, such as health insurance plans, retirement plans, health savings accounts and Section 125 tax-saving cafeteria plans. Employees can enroll in and keep track of their benefits plans with the Paychex Flex mobile app. In addition, Paychex Flex offers a financial wellness program that coaches employees on managing their debt and expenses.

Other payroll services – Paychex provides additional payroll and tax services, such as an employment verification service, wage garnishments, workers’ compensation programs and a state unemployment service. Clients can also receive federal and state labor compliance posters to display in their office.

HR features – Even though Paychex Flex is well known for its payroll features, it integrates with other tools to provide users with a complete HR system. Those tools include a learning management system with built-in and custom courses, a new-hire onboarding module, background check features and performance management functionality.