Managing payroll for your team in Brazil from the US can be complex, with currency conversion, tax regulations, and payment deadlines to juggle.
Selecting the right payroll software is essential for seamless operations. Here, we compare the top 5 options to guide your decision.
What does an International Payroll Software do?
A robust payroll software simplifies the intricacies of transnational wage management, ensuring compliance and efficiency in the following ways:
- Currency Conversion: Accurate real-time conversion of salaries from US dollars to Brazilian Reais and vice versa.
- Payment Timeliness: Quick processing of international transactions, bypassing traditional methods like SWIFT that can take a week.
- Tax and Fee Management: Keeping track of all applicable taxes and minimizing wire and transaction costs – with some software offering significant savings.
- Contracts and Invoice Management: Payroll to Brazil requires your company to present either a contract between your company and your contractor or/and an invoice for the services provided. You’re required to acquired and secure such documents for future reference.
- Fiscal and Financial Reports: Since you’re dealing with international payments, taxes and fees, your bookkeeping must be even more rigorous. You’ll have control over every dollar that goes abroad and how much you pay in fees.
Taking all this into account, can we find a software to help us out? Let’s see!
CambioPay is designed to facilitate US businesses to manage payroll directly in Brazil without the complexities of international transactions or maintaining a local entity. An important feature of this one is that you know exactly how much your beneficiary will receive at the time you create a transaction, so no surprises or hidden fees here.
- Subscription: FREE
- Cost per Transaction: $3.99
- Live Brazilian Portuguese Support: YES
- API Integration: Customized solutions available
- Spread: 0.5%-1%
- IOF: Included in transaction.
- Transaction goes directly into the beneficiary’s bank account in BRL.
QuickBooks is an accounting software that manages all your business’ expenses. It can offer direct payroll, but it requires you to plug it with some other payment software. Right now it’s the most used accounting software in the world, but it’s mostly for small to medium sized businesses. It’s mostly bare bones without proper support with partners’ plugins.
- Subscription: 15 USD per month
- Free Trial: Available
- Brazilian Portuguese support: Automated
- API integration: YES. Plugins.
It’s an HR Software that provides a place to hire, manage talent data and run payroll. It can run international Payroll, but it requires integration with other tools to be able to perform that function.
- Subscription: 175 USD per month
- Free Trial: Available
- Brazilian Portuguese support: NO
- API integration: YES. Plugins.
It’s an HR software made for global teams. Its functionalities for managing teams all over the world are free (up to 200 employees) but Payroll, Contract and Hiring Management are all paid features. It is usually used by large global companies that have teams all over the world.
- Subscription: 599 USD per month
- Only HR Management is Free (up to 200 people).
- Brazilian Portuguese support: NO
- API integration: YES. Plugins and API.
It’s an international payments software that allows your business to send money in batches. It has no management functionalities for contracts, invoices or hiring.
- Subscription: No Subscription
- Cost per transaction: $4,24
- Brazilian Portuguese support: NO
- API integration: YES. API and app marketplace.
What Payroll Software would you choose?
As you can see there are many different options related to different aspects of Payroll, Accounting and HR management.
You can actually integrate some of these softwares with each other for a more complete solution.
Choosing the right software for outsourcing to Brazil is a strategic decision that can significantly impact your business efficiency and compliance.
Also, as you can see from the examples above, most Payroll Software can’t deal with international payments on their own.
Most of them require your company to integrate at least two different services, so you can have all the functionalities necessary to properly run payroll effectively.
That means higher costs, which are going to make a difference, especially if you run a small business.
While each software has its merits, we believe that CambioPay stands out for its bespoke services tailored to US-Brazil operations.
We believe that we have managed to create a complete and cost effective solution for companies in the US that must run Payroll to Brazil.
We’re eager to hear your thoughts on CambioPay – your feedback is invaluable for our continuous improvement.
Share your experience in the comments or reach out for a tailored consultation to optimize your cross-border payroll today!
