We switched to Toast Payroll about a year ago. It took a little for set up and time to figure it out but once we got there I really like it. It is pretty easier to use. There is some double check I have to do when giving pay raises because they don't always sync properly but that is something that is easily checked when approving timesheets. I know they have an easy way to do tips if you tip out daily but it's not a feature we use. We do a tip pool and the way it is set up is a excel csv file that we import directly into payroll when you run the payroll. It is simple and easy.
Cost effective really depends on what you are used to paying. We paid an accountant to do our payroll before Toast Payroll and we are paying just a little bit more than we were paying him to do it.
Hope this helps!
