Gusto Overview

Gusto started with the aim of helping small businesses manage their payroll and HR processes with ease, and over time it has grown into a robust platform that handles much more than just payroll. It is highly regarded for its simplicity, automation, and wide range of features. By automating time-consuming tasks like tax filings and onboarding, Gusto allows business owners to focus more on growing their business rather than getting bogged down by administrative work.

Another reason for Gusto’s popularity is its intuitive design. Even those with little to no experience in payroll or HR can quickly get to grips with the software, thanks to its clean layout and helpful guidance. It’s the kind of tool that lets you manage complex processes without needing to become an expert. And because it integrates with many accounting tools, time-tracking software, and other business apps, it easily fits into most existing workflows.

Gusto Features

  • Payroll Automation
    • Automatically calculates and files payroll taxes at the local, state, and federal levels
      • Ensures accurate deductions for income tax, social security, Medicare, and other applicable taxes
      • Compliance with tax laws, reducing the risk of fines or penalties
      • Handles year-end tax forms such as W-2s and 1099s for employees and contractors
    • Direct deposit and pay schedules
      • Offers direct deposit payments with the flexibility to set weekly, biweekly, or monthly pay schedules
      • Multiple payment methods including cheque and prepaid cards for employees who prefer other options
      • Automatic payroll runs with options to review or make adjustments before processing
    • Tax filing and compliance handling
      • Automatic state and federal tax filings, ensuring compliance with deadlines and requirements
      • Generates detailed tax reports for internal tracking
  • Benefits Management
    • Health insurance management
      • Provides access to a variety of health insurance plans across different states
      • Employees can select and update health benefits through a simple online interface
      • Automatically syncs health insurance premiums with payroll for accurate deductions
    • 401(k) retirement plans and other savings benefits
      • Supports multiple retirement savings plans with employer contribution matching options
      • Easy setup for both traditional and Roth 401(k) plans
      • Automated contributions with compliance to retirement plan rules and regulations
    • Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA)
      • Tax-advantaged savings accounts for medical expenses and dependent care
      • Employers can offer contribution matching, encouraging employees to save
      • Simple tracking and management of account balances and transactions
  • HR Tools and Compliance
    • Employee onboarding and self-service
      • New hires can complete all necessary onboarding paperwork digitally, including tax forms and direct deposit information
      • Self-service portal allows employees to view and update personal information, benefits, and payroll details
      • Automated reminders for key onboarding tasks, reducing the administrative burden on HR staff
    • Time-tracking and attendance management
      • Integrates seamlessly with popular time-tracking apps like TSheets, Homebase, and more
      • Tracks employee work hours, overtime, paid time off (PTO), and sick leave
      • Generates detailed time and attendance reports for managers and HR staff
    • Compliance with labour laws
      • Automated compliance updates to keep up with changing local, state, and federal regulations
      • Alerts employers to changes in minimum wage, overtime rules, and other important legal updates
      • Built-in reporting tools to ensure compliance with various labour laws and requirements
  • Integrations and Reporting
    • Accounting software integrations
      • Seamlessly integrates with popular accounting software such as QuickBooks, Xero, and FreshBooks
      • Data flows automatically between Gusto and accounting tools for accurate financial reporting
      • Eliminates the need for manual data entry, reducing the chance of errors in payroll and accounting records
    • Customisable reports
      • Generates detailed reports for payroll, benefits, time tracking, and HR management
      • Reports can be customised to focus on specific metrics such as employee costs, benefits usage, or tax payments
      • Data export options to formats like CSV, Excel, or PDF for deeper analysis and record-keeping
  • Employee Support and Resources
    • HR expert support
      • Gusto offers access to a team of HR professionals to provide advice on compliance, employee management, and other HR-related matters
      • Guidance on difficult situations such as handling terminations, disputes, and policy creation
    • Gusto Wallet and financial wellness tools
      • Employees gain access to Gusto Wallet, which helps them manage their pay, savings, and personal finances in one place
      • Offers banking tools like spending insights, payday advances, and direct deposit splitting between accounts
      • Helps employees save for emergencies and manage their finances with greater confidence