6 Best Payroll Software for Canadian Businesses in 2023

ADP: Best for scalability

ADP is a feature-rich payroll solution for Canadian businesses. The feature set of ADP is geared towards large companies; however, even small and medium-sized businesses can benefit from ADP payroll. The core features include built-in time tracking and an easy to use payroll app. You can also bundle payroll with other ADP HR solutions to access new hire reporting, HR forms and HR compliance.

Pricing

• Customized pricing, so you will need to contact their sales team for a quote.

Features

• Built-in time tracking so users don’t have to rely on third-party applications.
• Fully automated employee data syncing.
• Policy management tools to maintain a policy catalog for pay, benefits and time.
• Continuous payroll calculation to help businesses have real-time visibility on the state of payroll at any time.

Pros

• Customized plans offer excellent scalability.
• Comprehensive HR features.
• Excellent mobile app for on-the-go payroll

Cons

• Lack of transparent pricing.
• Steep learning curve.

For more information, read the full ADP review.

Payworks: Best for analytics and reporting

Payworks is a Canadian software company specializing in workforce management solutions, including a cloud-based payroll system. With Payworks, you can generate various customizable reports, making it the best payroll software on this list for reporting and analytics. You can add additional services to your payroll package for an extra charge. This includes tools for HR advisory services, applicant tracking and employee absence management.

Pricing

• $20.90 per pay run plus $2.10 per employee.

Features

• Auto filing, including tax remittance and WCB premiums.
• Interactive year-end checklists to ensure you have completed all the required paperwork and tasks.
• Auto-generated email notifications for employee pay statements.
• On-demand access to employee pay stubs and tax forms.
• Configurable automation for payroll tasks, such as updates to rates or accruals.

Pros

• Variety of HR management add-ons.
• Highly customizable.
• On-demand professional support.

Cons

• Reporting system is not user-friendly.
• User interface is not intuitive.

Wave: Best for freelancers and small businesses

Wave Payroll is a subsidiary of Wave Financial Inc., which was acquired by H&R Block in 2019. With Wave Payroll, you get a full suite of payroll features, including automatic payroll processing, taxing filing and customized reporting. In addition, you get full CRA (Canada Revenue Agency) compliance. However, the software does not cover clients based in Quebec.

Pricing

• $25 monthly base fee plus $6 per employee per month.

Features

• Deep integration with Wave’s free accounting software, including automatic journal entries.
• Automatic tax remittance to the CRA.
• Customizable dashboards for payroll summary and time tracking.
• Automatic tax filing, including generation of T4 and T4A slips.
• Connection with several financial institutions and banks to direct deposit functionality.

Pros

• Wave accounting integration.
• Customized reporting.
• Easy to use.

Cons

• Not available in Quebec.
• Limited benefits administration.

Knit: Best for all-in-one payroll and HR solution

Knit People, based out of Toronto, offers an all-in-one payroll and HR management solution that is available in three plans. Ideally suited for small and medium-sized businesses in Canada, Knit Payroll offers a decent set of payroll tools, including multiple pay rates, automatic payroll remittances and preparation of tax documents. It can be integrated with Knit’s HR management module to extend functionality.

Pricing

• Lite: $39 per month plus $6 per employee per month.
• Complete: $39 per month plus $8 per employee per month.
• Concierge: $299 per month plus $25 per employee per month.

Features

• Automatic WCV, WSIB and EHT remittances.
• Managed payroll and compliance services with the Concierge plan.
• Self-onboarding for new hires to help save time for HR staff.
• Employee time-off module that automatically calculates time off balances and accruals.

Pros

• HR and payroll all in one.
• Easy to set up.
• Advanced tools for custom payroll for multiple pay groups and pay types.

Cons

• Relatively expensive.
• No ability to file T4As for contractors.
• Payroll is not available in Quebec.

Wagepoint: Best for basic payroll

Canadian businesses looking for a simple payroll solution that is affordable and easy to use can consider Wagepoint. It offers all the basic payroll features required to pay employees and contractors while maintaining compliance with Canadian payroll regulations. You don’t get native time-tracking capabilities, so you will need to rely on third-party applications such as Quickbooks Time Tracker or 7Shifts.

Pricing

• The pricing for Wagepoint is based on the number of employees and the frequency of payroll runs. A pricing calculator is available on the Wagepoint website.

Features

• Direct deposit, an online portal for employee self-service, off-cycle payrolls and a complete set of year-end tax documents.
• Automated calculations with preset income and deduction codes, with the option of doing custom income and deductions.
• Variety of reporting options, including tax summary, deposit summary and workers’ compensation.
• Two-factor authentication and 2048-bit encryption for an extra layer of data security.
• Built-in tips and guides to help with usability.

Pros

• Excellent customer service reputation.
• Easy learning curve.
• Transparent pricing structure.

Cons

• No native time tracking.
• No HR features.

Ceridian Dayforce: Best for businesses with 100+ employees

If you are looking for a payroll solution that offers complete human resource management for businesses in Canada, then Ceridian Dayforce is a top choice for you. Along with a full suite of payroll features, you also get benefit administration, workforce management and other HR tools.

Pricing

Features

• Real-time payroll registration so you can make changes and audit payroll data during the payroll cycle.
• Multi-jurisdictional tax calculation.
• Convenient data access on the go through the mobile app.
• Extensive range of third-party integrations.
• Full suite of talent management solutions, including recruiting and onboarding.

Pros

• Single platform for managing payroll and HR tasks.
• Extensive employee self-service tools.
• Effective training.

Cons

• Steep learning curve.
• Slow load time.