Item: Paylocity
Rating: 9
Author: Steven Carr

Overall Satisfaction with Paylocity

Use Cases and Deployment Scope

We use Paylocity to run timesheets, process payroll, onboard new hires and perform year-end reviews. It combines all the duties that span across multiple departments into one interface. It's very easy to train new employees to enter time, review and submit time-off requests, make changes to their personal and direct deposit changes, and gain access to end of the year tax documents. Department managers have one place to access performance documents, upload them, and then submit them for review. All of these features eliminate the need to print, sign and file multiple documents and forms across departments. With a hybrid office and home work space environment there is no delay in getting any employee the right information due to someone not being in the office on a certain day.

Pros and Cons

Pros

Performance portal allowing our company to eliminate a separate folder on our work shared drive and storing years of reviews and performance documents.
Custom reports for month-end vacation accruals.
Onboarding new employees and transferring their information right into the employee file so they are ready to go the day they start.

Cons

Some changes to our accrual rates can't be done by us, we have to submit a service request to change it.
New employees sometimes are missing set-up requirements because you have to go into User Accounts, Employee Payroll File, Time & Labor...just too many places to go to review proper set-up. Would like to see onboarding review all areas that could be missed when enrolling a new employee, or something similar.
Rare, but a few times out of all the years we've had Paylocity we've had extra money withdrawal from our checking account for an excess owed in taxes, but it was taken out without notifying us about the need to have it taken out. Would like an email or warning message about a deficit in tax owed and an extra withdrawal will be taken in "x days".

Return on Investment

We can process payroll in under 7.5 hours regularly. That includes necessary journal entries, PERS payment schedule, HSA payments scheduled, and taxes and checks withdrawal amount known and covered in our checking account.
We utilize the Time & Labor timesheet approvals and time-off requests as part of our year-end performance evaluation. It provides us with more accurate data to help review year-end performance and if staff and managers are actively entering time and approving on a timely basis throughout the year.
Our worker's compensation yearly audit is done in under a week with all the quarterly reports automatically generated in Paylocity. I can easily gain gross and net payment amounts within minutes to update our policy with the proper dollar amount paid to certain employees when requested.

Paylocity Automated Processes

Automatic payroll reports is the biggest affect on our business. I don't have to go into the Reporting and individually select the 6 reports I need at the end of each payroll cycle. They are already available and save at least a few hours of work for me.

Paylocity Employee Engagement

N/A to our business. There may be an opportunity in the future to use this part of Paylocity.

Alternatives Considered

Paychex Flex

N/A Paylocity was the first product I've used in my current payroll processing position. I've briefly used Paychex, but didn't have an administrator role with their product.

Key Insights

Do you think Paylocity delivers good value for the price?

Yes

Are you happy with Paylocity's feature set?

Yes

Did Paylocity live up to sales and marketing promises?

I wasn't involved with the selection/purchase process

Did implementation of Paylocity go as expected?

Yes

Would you buy Paylocity again?

Yes

Other Software Used

Sage Intacct, Authorize.net, Ramp

Likelihood to Recommend

Well suited for a company of more than 25. Time & Labor and Payroll processing are very smooth and easy to use. Saves a lot of time and work, especially with Paylocity filling all the proper taxes and providing year-end tax forms for employees. And quarter reports for the company when doing worker's compensation audits. Onboarding and Performance are great for companies at our size and larger. Helps finance and HR get everything done and completed by the time the new hire is starting. The drawback of Paylocity would be a definite cost threshold for smaller companies. It's affordable for us, but the future is always uncertain.

Paylocity Review