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Payroll & HR

Paychex

Paychex provides payroll, HR, benefits and insurance services to businesses of every size, from owner-only operations through enterprises, and says it has been doing so for over 50 years.

Payroll can be run online from desktop or mobile, with the option of a dedicated payroll specialist, and integrates with the firm's HR and benefits modules. Its Taxpay service calculates, files and pays federal, state and local payroll taxes, handles quarterly and annual returns and multi-state compliance, and a tax center tracks filing deadlines and penalty notices. Other payroll-side services include garnishment payments, a general ledger feed to accounting software, flexible employee pay options including pay cards and tip disbursement, pre-employment screening, and an employee handbook builder, with more than 160 standard reports available.

Beyond payroll, Paychex offers retirement plans (pooled employer 401(k), traditional, solo and multiple employer plans through its PEO), benefits administration, time and attendance, recruiting and HR outsourcing including a professional employer organization, business insurance through licensed agents covering workers' compensation, general liability, umbrella, business owner policies and EPLI, payment processing, and startup services such as incorporation through a partner. Paychex Funding Solutions provides invoice factoring for B2B and B2G businesses, with advance rates up to 90% of accounts receivable and no personal guarantees, underwritten on the customers' creditworthiness.

The firm says it pays 1 in 12 American private sector workers. Package prices are not listed on the comparison page, and promotional offers such as free months are time-limited, so get a written quote with the per-employee fee before committing.

Best for

Property management, construction and other small to mid-size employers that want payroll, tax filing, benefits, workers' compensation and HR support from one vendor, including multi-state payroll.

What they do

  • Payroll processing for small, midsize and enterprise businesses
  • Payroll tax calculation, filing and payment
  • 401(k) and retirement plan administration
  • Benefits administration and employee benefits
  • Professional employer organization (PEO) services
  • Time and attendance tracking
  • Recruiting, hiring and background screening
  • Business insurance and workers' compensation placement
  • Invoice factoring through Paychex Funding Solutions

What stands out

  • Says it pays 1 in 12 American private sector workers.
  • Has been providing payroll and HR services for over 50 years.
  • Offers more than 160 standard reports with real-time data and customizable dashboards.
  • Invoice factoring offers advance rates up to 90% of accounts receivable with no personal guarantees required.
  • Runs pooled employer, traditional, solo and multiple employer 401(k) plans alongside payroll.