SOURCE: PayCycle, Inc.

December 04, 2006 09:00 ET

PayCycle® 2007 Makes Digital Paycheck a Reality for Small Business Owners and Employees

New Online Services From PayCycle Make Payroll Fast and Painless for Small Businesses

PALO ALTO, CA -- (MARKET WIRE) -- December 4, 2006 -- PayCycle, Inc. (www.paycycle.com), the leader in on-demand payroll, today announced PayCycle® 2007, a new release of its award-winning small business payroll service found at PayCycle.com. PayCycle 2007 features enhanced services designed to help make the "digital paycheck" a reality for small business owners.

The digital paycheck is a critical component of paperless payroll. The paperless payroll process starts with direct electronic deposit of payday funds into an employee bank account, includes online filing of state and federal employment taxes and all related government mandated employment forms, and concludes with easy, online record keeping and reporting for both the employee and employer.

According to a recent survey by the National Federation of Independent Businesses (NFIB), only 26% of small businesses offer their employees direct deposit. One third of those who do not offer direct deposit think their business is too small for this type of benefit. Now, PayCycle makes the digital paycheck a reality for even the smallest business. PayCycle is a totally web-based payroll service with automatic enrollment in digital services. Direct deposit and electronic federal and state payments and filings are included at no additional charge.

"Today larger businesses have embraced the digital paycheck and offer their employees the convenience of direct deposit, but small businesses have lagged behind. Now PayCycle 2007 lets small employers catch up, making the digital paycheck an easy and affordable reality for small business owners and employees," said Karen White, vice president of product management for PayCycle.

PayCycle 2007: Making the Digital Paycheck a Reality

Digital paycheck enhancements in PayCycle 2007 include:

-- Improved digital paydays with private and secure employee website to view and print current and past pay stubs: www.paycheckrecords.com. PaycheckRecords combined with direct deposit makes pay days truly "paperless."

-- Additional online benefit tracking covers 401k contributions, health, dental, vision, flexible spending accounts and other miscellaneous deductions.

-- Employees can see and track their 401k contributions online via PaycheckRecords.

-- E-filing support for new federal 944 form; annual filing for very small businesses instead of quarterly 941 filing.

-- State e-payments now cover 80% of the U.S. across 25 states.

Small business owners can sign up for PayCycle directly at www.paycycle.com. The service begins with a 30-day free trial followed by two months at a reduced price. Thereafter monthly prices start at $24.99 or as little as $6.25/payroll for weekly payrolls. In addition, toll-free phone and email support with PayCycle's payroll experts is included at no additional charge.

About PayCycle

PayCycle is the leader in on-demand payroll, targeting small businesses and the accountants who serve them. PayCycle's mission is to make paper-based payroll obsolete. PayCycle's unique, "Do-It-With-You(SM)" (DIWY(SM)) technology platform guides customers through the entire payroll process from paychecks to W-2s. By integrating with the leading small business accounting packages such as Microsoft® Money Home & Business, and QuickBooks®, QuickBooks Online and QuickBooks for Mac, PayCycle eliminates the hassle of data re-entry. PayCycle is committed to providing outstanding customer service and is a proud finalist for the 2006 American Business "Stevie" award for "Best Customer Service Organization."

PayCycle is a registered trademark, and "Do-It-With-You" and "DIWY" are service marks of PayCycle, Inc. All other product names and trademarks are the property of their respective owners.

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