Payroll services these days are responsible for much more than just cutting paychecks. These services can be contracted to manage payroll for large or small companies and provide features including:
- direct deposit
- retirement plans/pensions
- tax help
- paycheck distribution
- electronic payment of various employee loans and/or accounts
- electronic/automatic withdrawl from employee paychecks
- tracking of vacation, sick, maternity and PTO
Payroll service outsourcing may allow your CFO to focus his/her energy on other important projects knowing that Payroll is being taken care of.