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.