Potential employees are the backbone of any organization to earn success and growth in a highly competitive corporate world. And potential payroll process is crucial to keep employees productive. However, running the payroll process manually is a complex process. Therefore, the use of payroll tools, especially paycheck calculators, is very common.
Various payroll tools or software such as hourly and gross-up calculator are available in the market at quite affordable prices. These tools help payroll managers to do accurate calculations of employees’ actual payments and take-home salaries. It reduces the chance of error and protects the company from financial damages.
Paycheck calculators are quite easy to operate and take no time to provide all information or crucial data within a single click. They also help sales managers in the calculation and deduction of all types of federal or state taxes. Moreover, it keeps all the important data secure for long durations.
Selection of the right paycheck calculator is a time taking and complex task because a wide range of tools with different features are available in the market. However, considering the needs or requirements of your business, budget range, and user experience can help you to make a perfect choice.
We listed here different kinds of paycheck or payroll calculators with their specifications. Considering this list can assist you to select an appropriate payroll calculator for your company.
Salaried Employee’s Paycheck Calculator
Different organizations have different payroll policies. Therefore, they also classified their employees according to their payment methods. For example, employees who are hired on a monthly or annual salary basis are categorized as salaried employees. For such employees, salaried payroll calculators are the most effective tools to ensure accurate and timely payments.
This type of paycheck calculator is used to calculate the net pay or take-home salary of employees. It also calculates and deducts all types of state or federal taxes and all other charges. Therefore, it provides accurate net payment calculations for a particular pay period. It also allows you to print a hard copy of all calculations.
Hourly Paycheck Calculator
Different organizations also hire employees on an hourly basis or they pay some employees according to their working hours. And for this purpose, they use hourly paycheck calculators. These are the best tools to keep employees’ potential.
Hourly paycheck calculators work to track employees working hours, leaves, paid leaves, and other allowances. And then provide accurate net payment calculations after tax deductions. It also provides hourly employees with easy access to all their working and payment details which enhances employees’ confidence in the company.
QuickBooks Paycheck Calculator
Various small organizations avoid using payroll calculators because of financial issues. For all such entrepreneurs, QuickBooks paycheck calculators are an excellent choice. The reason is that they provide free access to all features or different payroll tools.
QuickBooks paycheck calculators are suitable to do payroll for all types of employees whether salaried or hourly. With the use of such tools, anyone can easily calculate their net payments after all types of deductions. They offer convenience and ease, without making the payroll too complicated for novices.
Gross Up Calculator
For accurate calculations of employees’ gross salaries, this tool is quite an effective and economic approach. It provides errorless calculations of employees’ wages before any type of tax deduction. Employees can also get the print of their gross salary calculations through this calculator.
Flat Bonus Calculator
Awarding employees different kinds of promotions or bonuses is a common practice in most organizations which helps them to enhance employees’ productivity. However, tax calculations for special wages or bonuses are a tough task. Therefore higher organizations prefer to use digital tools to ensure accuracy.
A flat bonus calculator is an effective tool that works based on the aggregate or percent method. It helps sales managers to calculate taxes over bonuses and other allowances according to state tax rules. And for the areas or states lacking any special supplemental rate they used a state-to-state aggregating method. And provide net or take-home payment calculations.
Various kinds of payroll calculators are available in the market. However, each payroll calculator has its specifications or features and can not align with all payroll requirements. Therefore, make sure to select a reliable and economical paycheck calculator according to the needs of your payroll department. It will not only save you time and money but also provide you with accurate payment calculations.