Professional payroll service providers handle all payroll aspects, including financial regulations, tax compliance, and payment processes. Hiring a payroll service allows businesses to focus on core activities while ensuring compliance with employee payments and taxes.
This article lists the best payroll service providers to help your business ensure compliance and handle complex employer payroll accurately and efficiently.
Table of Contents
1. Ingenium
Ingenium provides numerous back-office services, including finance products for small businesses. The financial data tracking, which includes different payroll services, aims to ensure services are “primed for critical decision making and growth.”
Payroll services:
- Bookkeeping
- Monthly financial statements
- Payroll services
- Financial projections
- Keeping a sustainable budget
- Compliance monitoring for better local tax filing
Best for: Small businesses
Pricing:
- Average hourly rate: $125/hr
- Minimum budget: $1,000-$10,000
2. E&Q Tax
E&Q Tax specializes in financial services. Aside from payroll solutions, they provide various payment solutions for individuals — help with income tax, mortgage, financial planning, tax planning, credit repair solutions, IRS payment assistance, etc.
Payroll services:
- Payment plans for small to medium-sized businesses and startups
- Payroll-related reports
- Wages, deductions, and withholding calculations
- Timely preparation of all federal and state tax forms
- Profit and loss statements
- Bank reconciliation
Best for: Personalized services that cover your business demands.
Pricing:
- Average hourly rate: On inquiry
- Minimum budget: On inquiry
3. Outbooks
Outbooks offers “comprehensive, HMRC-compliant, and BACs approved customized payroll services that meet the needs of organizations of varying sizes.” They also provide custom payroll processing and portal-based solutions.
Payroll services:
- Bookkeeping and VAT returns
- Payroll
- Self-assessment tax returns
- Account management
- Keeping their UK-based clients GDPR compliant
Best for: Cost-effective outsourced payroll for global businesses of all sizes.
Pricing:
- Average hourly rate: $20/hr
- Minimum budget: On inquiry
4. Accountants On Air
Accountants on Air excel at advisory, audit, accounting, and tax services. They offer free consultations where clients connect with a specialist who identifies their business needs, customizes the services, and matches them with professionals who can deliver results.
Payroll services:
- Financial advisory
- Audits and assurances
- Tax handling
- Business formation
- Accounting
- Savings review
Best for: Comprehensive payroll processes with customizable plans.
Pricing:
- Average hourly rate: $18/hr
- Minimum budget: $10,000-$25,000
5. Canavan Syddall and Associates
Canavan Syddall and Associates provides professional accounting, bookkeeping, and consulting for businesses of all sizes and individuals. They allow clients to opt for a personalized service package that satisfies their business or personal needs.
Payroll services:
- Business and personal income tax
- Payroll tax
- Accounting
- Business consulting
- Business tax returns
- Accounts payable management
Best for: Customized, complete business accounting package.
Pricing:
- Average hourly rate: $250/hr
- Minimum budget: On inquiry
6. Quality Back Office
Quality Back Office is an accounting and bookkeeping company offering bundled back-office services at a lower monthly fee than the industry average. They provide a one-stop solution for accounting and payroll needs, customizing processes for each client and enabling them to focus on their core business.
Payroll services:
- Accounting and bookkeeping
- Income, payroll, sales tax services
- Accounts payable
- Accounts receivable
- Invoicing
- Payroll
- Virtual CFO
Best for: Working with a dedicated payroll representative.
Pricing:
- Average hourly rate: On inquiry
- Minimum budget: On inquiry
7. Wiss
This accounting and business growth company works with businesses in various industries, from real estate and construction to healthcare and the public sector. Their mission is summarized in their Core Four Ways: Advocate, Impact, Care, and Collaborate.
Payrolls services:
- Business process review
- Outsourced payroll
- Lease consulting
- State, local, and international tax
- Wealth management
- Financial sponsor
- Due diligence
- Business valuation, etc.
Best for: Real estate, construction, food & beverage, technology & life sciences, not-for-profit, and public sector.
Pricing:
- Average hourly rate: On inquiry
- Minimum budget: On inquiry
8. Quad Consultancy
Quad Consultancy is a recruitment, payroll, and HR consultancy firm from Malta that provides top-notch services to enterprises ranging from small businesses and startups to big companies of international stature. Their services encompass salary calculations and outsourced payroll, among many others.
Payroll services:
- Salary calculations
- Payroll computation
- Technology management
- Confidentiality and data security
- Risk mitigation
Best for: Nearshore payroll outsourcing for EU businesses.
Pricing:
- Average hourly rate: $70/hr
- Minimum budget: $1,000-$10,000
9. OSMEAC Solutions
OSMEAC from Texas is a full back-office accounting/finance contracting and consulting firm specializing in accounting, fractional CFO, bookkeeping, and taxation services. They offer the expertise to help grow any business via customizable solutions.
Payroll services:
- Fractional CFO
- Bookkeeping
- CPA/tax services
- Accounting system implementations
- Contract/interim controller/accountant
- Financial reporting services
- Accounting process and system improvement
Best for: Customized services for growing businesses.
Pricing:
- Average hourly rate: $60/hr
- Minimum budget: $1,000-$10,000
10. TABS Inc.
New York’s TABS Inc. provides the guidance and assistance necessary for starting or expanding a business and navigating and growing in any competitive market. The company’s team is well-versed in the laws and regulatory requirements, an important consideration in payroll processing.
Payroll services:
- Payroll setup and processing
- Income tax support
- Compensation analysis
- Benefit administration
- Credit card processing
- Accounts payable, etc.
Best for: Beginners and established enterprises.
Pricing:
- Average hourly rate: By inquiry
- Minimum budget: $1,000
What Do Payroll Service Providers Do?
Payroll vendors provide services such as paying the employees on time, deducting and paying taxes, keeping the companies compliant, delivering reports, etc. They focus on payroll and related HR tasks that let business managers, decision-makers, and owners focus on processes related to business growth and improving brand image and product/service quality.
Some of the tasks that payroll companies help their clients with include:
- Keeping track of employee’s working hours and attendance
- Calculating employment taxes
- Setting up deposit methods and accounts
- Delivering payroll records to employees and the employer
- Making sure their client is compliant with local, state, and federal payroll laws
How To Choose the Best Payroll Service Provider
Payroll companies provide services for companies of various profiles, industries, and growth rates. To identify the right payroll company for your needs, consider these criteria:
Scope of Services
Determine whether you need offline or online payroll services. Do you need a partner that will approve, automate, and submit payments to your employees or a company that will handle the taxes and regulatory requirements — or both? Numerous payroll companies offer basic to advanced payroll service packages that fit different needs.
General services payroll companies provide include:
- Payroll processing
- Managing taxes
- Delivering reports
- Payroll compliance
- PTO management
- Payroll deduction
- Providing payment options, etc.
Cost of Services
Your company’s budget determines whose payroll services you can afford. Consider multiple pricing models and whether a contract is required, and pick the most cost-effective solution.
Reputation and Track Record
Look at each payroll service provider’s portfolio, list of past clients, and independent, third-party reviews. You’ll have insights into their services' quality and how to do payroll with them as a partner. A payroll company familiar with the challenges of your industry has a greater potential to deliver good results.
Integration of Services
If your company uses specialized tools and payroll software for accounting of HR purposes, look for a vendor who can integrate their payroll management system with yours. This integration will improve the payroll processes' functionality while keeping your internal processes intact.
Regulation Compliance
Payroll processing requires staying on top of local and federal laws and regulations. As tax laws constantly change, partner with a company that is up to date with amendments in your local taxation law.
When reviewing payroll service providers, gather as much information as possible about their service, reputation, and price. Here are some questions you should ask before choosing your future partner:
- How often are your tax tables updated for compliance?
- Do you have clients in my industry?
- How will you handle my business payroll process as the company grows?
- How long does it take to fix a mistake?
- Are there additional charges for adding or changing employee payroll?
- Will the annual fees vary or increase after one year?
- How often will I receive reports from the service?
- Are you able to integrate with our accounting software?
- Is there an additional cost to file taxes in multiple states?
- How often will I hear from you, and who will be our main point of contact?
Payroll Service Providers: Final Thoughts
Payroll service providers help businesses navigate payroll management. Ensuring compliance, accuracy, and efficiency in payroll processing lets companies focus on their core activities and strategic objectives. With their expertise in financial and tax regulations, payroll service providers also mitigate the risks of errors, penalties, and data breaches.
Whether you run a small startup or an established enterprise, you can benefit from the services of top payroll companies. Leveraging their specialized knowledge and resources will streamline your payroll processes and help you stay on top of your financial obligations.
Payroll Service Providers FAQs
1. What is a payroll provider?
A payroll provider is a company that assists or entirely takes over all aspects of a business's payroll process. Payroll service providers are a type of business process outsourcing (BPO) company.
2. What is a payroll platform?
A payroll platform is software that helps businesses manage and process employee payments. It automates various tasks in payroll processing, such as calculating wages, deductions, and taxes.
The platform stores employee information, including hours worked, salary rates, and benefits. It uses this information to calculate the amount you should pay employees. It also keeps track of payroll deadlines and ensures that payments are made accurately and on time.
A payroll platform can offer features like tax filing assistance, compliance with labor laws and regulations, generating reports, and integrating with other HR or accounting systems.
3. Who are the largest payroll service providers?
Some of the largest payroll service providers on the market are:
- ADP
- Gusto
- SurePayroll
- Paychex
- Intuit Quickbooks
