Paychex debuts Paychex Solo, document management, and more

Paychex, a provider of HR and payroll software and services, has introduced several new products and services for the new quarter, the first for fiscal 2020. Payroll is an area where tech companies continue to innovate as accountants are increasingly interested in offering these types of value-added services to their clients.

“We’re constantly innovating to meet our customers’ evolving business needs, simplify HR complexities, and offer solutions to help them thrive and grow,” said Martin Mucci, Paychex president and CEO, in a statement. “The latest enhancements to our solutions are designed to help solve common HR and payroll challenges as employers and employees find themselves with more to do than ever with less time to get it all done.”

The new and updated solutions include:

Paychex office

Paychex Solo

A packaged offering designed to meet the specific needs of sole proprietors. Paychex Solo combines incorporation services, payroll and a 401(k) plan into one solution aimed at helping business owners improve their income tax situation, pay themselves a predictable wage while meeting tax obligations, and save for the future. With Paychex Solo businesses can also automate FICA tax withholdings on their W-2 wages, rather than having to budget for personal income tax payments, allowing them to initiate an owner-only plan to apply pretax dollars to save for retirement.
Paychex flex

Paychex Flex payroll enhancements

With a newly enhanced grid entry view, Paychex Flex now also offers multiple pay entry options to choose from. Built primarily to meet the needs of power users, but available to all payroll customers, the grid view enables users to input complex payroll information quickly and efficiently using an interface designed specifically for speed.

An example of the uses of the grid view is that users can leverage list and individual views to get a detailed gross-to-net look at individual employees, or switch to grid view when more complex data entry, such as multiple overrides, is required. Each view works with customizable input templates, import feature, and API capabilities. Paychex Flex payroll is mobile-enabled and integrates directly with a variety of time and attendance solutions, including cloud-based Paychex Flex Time and other hardware the company offers.

Form I-9 and E-Verify

The Immigration Reform and Control Act (IRCA) requires all employers to verify the identity of new employees and their eligibility for U.S. employment. To help businesses comply with this requirement, reduce time spent on verification, and help diminish the risk of costly penalties, Paychex has expanded its employee verification capabilities to enable employers to complete the Form I-9 and E-Verify processes electronically. Employers can integrate this solution with the Paychex Flex paperless onboarding process.

HR conversations

This new tool in the Paychex performance management module enables managers, employees, and HR staff to collaborate and capture day-to-day interactions. Leaders can digitally document interactions with their people, tracking progress and documenting results that will help support future conversations regarding goals, promotions, terminations, and more.

Document management

This solution gives users a centralized and secure file repository for company forms, policies and references, as well as employee documents and certifications. Access is role-based, document-specific, and requires leadership granting proper approvals.