Payroll Services Price Guide
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Costs of Payroll Management
Some factors that can impact the costs of a payroll management system include:
Number of Employees Length of time between pay periods Method of payment (direct deposit or checks) Employee benefits offered Changes to employee information Reporting functions
The more complex the computations, such as those for employee retirement accounts, the more expensive the services will be. The type of account you set up can also impact the cost. If a payroll company draws checks on your account, you might be subject to more charges than if you were to use an account held by the vendor. Though costs can increase based on any of the factors above, payroll management systems are still usually much more cost effective than processing payroll in-house.