Paycom Review 2022: Pricing, Payroll and HR Features, User Reviews - NerdWallet (2024)

Automated payroll processing: Known as Beti, this software allows employees to manage, verify and approve their own paycheck. Beti identifies any errors so employees can fix them before submission.

Paycom Pay: Issues paper checks from a Paycom bank account and manages the reconciliation process — ensuring that net payroll, taxes and fees are only deducted from your account once per payroll.

Automated payroll tax management: Handles completing, filing and paying payroll taxes.

Self-service app: Gives employees 24/7 access to their pay stubs, scheduled earnings and deductions, and more.

Report center: Use predefined reports or create customized payroll reports using data from across the Paycom system.

Garnishment administration: Reconciles payment amounts and calculations, balances deductions every pay period, and administers and sends required payments and documentation.

Expense management: Allows employees to submit photos of receipts for expenses; once approved, those expenses automatically flow to payroll for reimbursem*nt.

Expense tracking: Expenses imported into a general ledger are automatically allocated to categories such as travel, meals, entertainment, etc.

Mileage tracking: Allow employees to track and submit their mileage from their mobile device; add the FAVR feature to calculate mileage rate based on location.

General ledger mapping: Customize and import general ledger reports into your accounting software.

Time tracking app: Allow employees to submit their time using a time tracking app; edit and approve submitted time and automatically sync data to payroll.

Customize tracking options: Set rules for rounding hours, bonuses, shift and weekend differentials, and holidays worked.

Time off requests: Allows employees 24/7 access through the mobile app to review vacation and sick time accruals and submit time-off requests.

Scheduling tools: Create schedules and give employees access to view their schedules, mark availability, and swap or pick up shifts.

Time clocks: Offers self-service app and web-based time clocks to allow employees to clock in and out, as well as physical terminals for badge-swipe or biometric check-in.

Labor allocation: Assign labor costs to a particular location, department, job or other criteria when employees clock in.

Labor management reports: Get real-time reports, by department and by shifts, to see who’s clocked in and monitor labor distribution.

Document control: Archive, access and retrieve employee files and HR documents, including W-4 and I-9 forms.

Compliance tools: Remain compliant with government regulations; receive notifications of changes in legislation; generate compliance reports for Equal Opportunity, Fair Labor Standards, Family and Medical Leave; and more.

Personnel action forms: Document and approve role and compensation changes with a clear audit trail, including payroll effective dates.

Benefits administration: Set up employee benefit plans, deduction amounts, enrollment dates and waiting periods; allow employees to select benefits through self-service app; and add the Benefits Carrier tool for automatic carrier communications.

Report center: Generate reports to see and notify employees who are eligible for benefits enrollment, send reminders about enrollment, view changes to employee benefits packages, and view the benefits each employee chose.

COBRA administration: Sends required correspondence, tracks important dates, collects and remits premiums, and receives updates to changes in COBRA laws.

Enhanced ACA tool: View all of your ACA data in a single dashboard, learn about changes to the Affordable Care Act, and ensure that your business is compliant.

Manager tools: Review and approve employee requests, monitor performance, view applications, and take care of other managerial tasks through the mobile app.

“Ask Here” feature: Allows employees to use the self-service app to ask questions and get directed to the right people for answers.

Employee surveys: Use customizable templates to receive confidential feedback and view results.

401(k) reporting: Maps data to your plan provider’s requirements, creates 401(k)-specific reports, and sends reports to providers.

Direct Data Exchange: Monitor employee usage of self-service app, view costs based on employee tasks, and see opportunities for increased usage and cost savings.

Job postings: Automatically post open positions to your company website, employment sites and online job boards.

Applicant tracking: Build a customized applicant tracking system with a directory of talent profiles and searchable contact history for candidates.

Reports and analytics: View details about recruiting sites, including views, applicants, offers and hires; generate reports to monitor compliance with federal employment guidelines.

Tax credits: Automatically screen job applicants, send notifications of eligibility, administer available tax credits, and monitor the federal tax code for updates.

Background checks: Run background checks on candidates and current employees; remain in compliance with the Fair Credit Reporting Act; create pre-adverse and adverse action letters; securely store the results.

Onboarding: Create a streamlined onboarding process with new-hire paperwork and task checklists; allow employees to complete all necessary tasks online; and store documents in employees' online files.

E-Verify: Add an E-Verify task to the onboarding process to confirm employment eligibility, securely store information, and receive notification of employees who need re-verification.

Performance management: Implement performance reviews, including self-reviews, manager reviews and 360 reviews; assign performance goals and track goals by employee.

Position management: Build a directory of positions with required skills and salary levels.

Compensation budgeting: View reports of compensation spending, create a merit matrix, set salary grades, update employee compensation, and sync system-wide.

Employee training: Assign consistent compliance training to employees and allow them to complete it through the self-service app; create business-specific training courses for employees.

Comprehensive reports: Access reports and view historical data and action items.