What Are Payroll Services?
payroll services are specialized accounting services offered by third-party service providers that handle the entire payroll process for based businesses.
This can be done either by an accounting firm directly and/or by using specialised payroll software such as ADP, Gusto or Onpay.
These services include calculating and processing employee wages and salaries (including W-2s and 1099s), payroll, income and withholding taxes, and other deductions, as well as generating and distributing employee pay checks and/or direct deposits.
Additionally, they can also include services such as HR services, time and attendance tracking, benefits administration, and compliance with local and federal regulations.
Many businesses choose to outsource their payroll services to specialized providers to streamline the payroll process and ensure accuracy and compliance.
How Much Do Payroll Services Cost?
Pricing for payroll services depends on how you want to go about processing it.
The cheaper option is to use software here is some sample prices from leading payroll software companies:
- Gusto: From $40 per month plus $6 per employee
- ADP: From $79 per month plus $4 per employee
- Onpay: From $40 per month plus $6 per employee
The downside is that someone at your company will have to be responsible for using the software to process payroll each month.
The easier, but slightly more expensive option is to fully outsource your payroll to a based payroll service and/or accounting firm.
Prices for fully-outsourced payroll services can vary from $15 to $200 per month per employee.