Moneysoft vs Brightpay – what’s the best payroll solution? Prices and features compared

In the realm of payroll solutions, two names often surface as leading contenders in the UK market: Moneysoft and Brightpay. Businesses across the UK find themselves weighing these options to determine the best fit for their payroll needs. This Moneysoft vs Brightpay comparison aims to dissect their features, pricing, and overall value to help you make an informed decision.


Moneysoft vs Brightpay

User InterfaceUser-friendly, traditional interfaceModern, intuitive design
Automated Tax CalculationsYesYes
Auto-enrolment for PensionsYesYes
Customisable PayslipsYesYes
HMRC ComplianceFull compliance including RTI submissionsFull compliance including RTI submissions
Cloud IntegrationNot natively availableBrightpay Connect for backups & remote access
ReportingStandard payroll and HR reportsDetailed financial and employee reports
Employee Self-ServiceLimited functionalityComprehensive portal for employee access
Annual License Fee£100 – £300 (based on features & employee count)£99 – £399 (based on features & plan)
Monthly Payment OptionNoYes
Cloud Service Additional FeeNot applicableYes, for Brightpay Connect
Moneysoft vs Brightpay compared

This table offers a snapshot comparison, but it’s important to delve into the specifics of each software to understand their full capabilities and how they align with your business requirements. Pricing may vary based on additional services and the number of employees, so it’s advisable to get a detailed quote from each provider for an accurate cost comparison.

Video: Answering your common questions about payroll prices and costs

Overview of Moneysoft

Moneysoft, established for over two decades, has been a popular choice for small to medium-sized businesses. It’s known for its user-friendly interface and comprehensive features that cater to both payroll and HR requirements. Moneysoft offers a range of services including automated tax calculations, payslip generation, and real-time information (RTI) submissions to HMRC.

Key features of Moneysoft

  1. Automated Calculations: Moneysoft automates tax, National Insurance, and pension calculations, reducing manual errors.
  2. Auto-enrolment for Pensions: It supports automatic enrolment for workplace pensions, making it easier to comply with regulations.
  3. Customisable Payslips: You can create and customise payslips, which can be printed or sent electronically.
  4. HMRC Compliance: Ensures compliance with HMRC requirements, including RTI submissions and year-end reporting.

Pricing of Moneysoft

Moneysoft operates on an annual license model. The pricing varies based on the number of employees and the specific features required. Typically, the cost ranges from £100 to £300 per annum, making it a cost-effective option for small businesses.

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Overview of Brightpay

Brightpay, a relatively newer player in the market, has quickly gained traction for its modern interface and scalability. It’s suitable for businesses of all sizes and is particularly favoured for its cloud-based functionality, enabling remote access and collaboration.

Key features of Brightpay

  1. Cloud Integration: Brightpay Connect offers cloud integration for backups and remote access.
  2. Comprehensive Reporting: Provides detailed financial and employee reports.
  3. Employee Self-Service Portal: Employees can access payslips and submit requests through a dedicated portal.
  4. Automatic Pension Enrolment: Similar to Moneysoft, Brightpay also handles auto-enrolment efficiently.

Pricing of Brightpay

Brightpay’s pricing is more flexible, with options for monthly or annual payments. Prices start from around £99 per annum for a basic package, going up to £399 for more advanced features. The cloud service, Brightpay Connect, is an additional cost.

Comparison and conclusion

When choosing between Moneysoft and Brightpay, consider the following factors:

  • Ease of Use: Moneysoft is renowned for its user-friendly interface, whereas Brightpay offers a more modern, intuitive design.
  • Features: Both offer similar core payroll functions, but Brightpay has an edge in cloud integration and employee self-service features.
  • Pricing: Moneysoft generally presents a more cost-effective solution, especially for smaller businesses. Brightpay, while slightly more expensive, offers more flexibility in pricing and additional cloud services.
  • Scalability: Brightpay may be a better option for businesses expecting rapid growth due to its scalability and cloud-based features.

In conclusion, the best payroll solution depends on your specific business needs. Moneysoft is ideal for those seeking a reliable, cost-effective solution with essential features. On the other hand, Brightpay is more suited for businesses looking for a modern, scalable solution with cloud capabilities. Assess your business size, growth prospects, and specific payroll needs to make the right choice.

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FAQ – Moneysoft vs Brightpay

What are the key differences in user interface between Moneysoft and Brightpay?

Moneysoft offers a more traditional, user-friendly interface, while Brightpay features a modern, intuitive design, making it easier for those familiar with contemporary software.

How do Moneysoft and Brightpay compare in terms of cloud integration?

Brightpay has an edge with its Brightpay Connect feature offering cloud integration, whereas Moneysoft doesn’t natively support cloud integration, focusing more on desktop-based solutions.

Can both Moneysoft and Brightpay handle auto-enrolment for pensions?

Yes, both Moneysoft and Brightpay offer comprehensive auto-enrolment features for workplace pensions, ensuring compliance with UK regulations.

Are the payroll reports generated by Moneysoft as detailed as those by Brightpay?

Moneysoft provides standard payroll and HR reports, whereas Brightpay is known for its more detailed financial and employee reports, offering deeper insights.

Do Moneysoft and Brightpay offer similar customer support services?

Both Moneysoft and Brightpay offer customer support, but their availability and the range of support options (like phone, email, or live chat) may differ, necessitating a check on their respective websites for the latest information.

How does the pricing of Moneysoft compare with Brightpay for a small business?

For small businesses, Moneysoft tends to be more cost-effective with its annual licensing model, while Brightpay, although slightly more expensive, offers more flexibility with monthly payment options.

Is the employee self-service portal in Brightpay more advanced than in Moneysoft?

Yes, Brightpay offers a more comprehensive employee self-service portal compared to Moneysoft, which has limited functionality in this area.

Can both Moneysoft and Brightpay be integrated with other accounting software?

Both Moneysoft and Brightpay offer integration capabilities with various accounting software, but the extent and ease of integration can vary, so it’s advisable to check the specifics for each.

Are Moneysoft and Brightpay suitable for businesses of all sizes?

Moneysoft is generally more suited for small to medium-sized businesses, while Brightpay is scalable and can cater to the needs of businesses of all sizes, including larger enterprises.

What are the differences in HMRC compliance between Moneysoft and Brightpay?

Both Moneysoft and Brightpay are fully compliant with HMRC requirements, including RTI submissions and year-end reporting, ensuring that businesses using either software adhere to UK tax regulations.

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