Payroll regulations can be complicated, tedious and confusing for employers, so they often opt to contract out the payroll service How To Open A Payroll Company. That's where you come in. By starting your own business providing payroll services, you can build a client base and be your own boss while you're at it. If you're looking to get in on this fast-growing industry, which posted an annual growth of 7. To get started, you need processing software, employees with an understanding of accounting or payroll services, and ways to attract prospective clients.

As a payroll services provider, your company is responsible for handling records on employee wages, deductions, hours worked and pretty much everything else related to compensation for your clients. It's your job to translate all that information into paychecks or direct deposits for each employee.

You can choose to specialize in a particular area of payroll services, which might help your business cater to niche markets, but it is likely that your processors will need to be able to handle a Company Law Australia number of payroll-related services, including:.

Processing software expedites the whole payroll process by automating the task of running it. You have a lot of payroll processing options to choose from, so do your research. Several standard platforms offer integrated human capital management, with How To Open A Payroll Company your clients can input their payroll data for you to work with. You need processors, which requires an investment of time to train them and money to support them. Look into accountants who are leaving their bank or firm jobs, or people who have previously processed payroll directly for employers.

As you interview prospective employees, keep an eye out for process management and accounting backgrounds. These skills translate well to payroll processing. Consider creating a social media presence as well to make your business that much easier to find. These are accountants, brokers and bankers to whom you are willing to pay a commission for new client referrals. Brenna Swanston is a freelance writer, editor and journalist. She previously reported for the Sun newspaper in Santa Maria, Calif.

Skip to main content. References 2 ProfitableVenture. About the Author Brenna Swanston is a freelance writer, Us Steel Company History and journalist.

Photo Credits check in macro image by Alexey Klementiev from Fotolia. Swanston, Brenna. How to Start a Payroll Services Business. Small Business - Chron. Note: Depending on which text editor you're pasting into, Snowmass Lodging Company might have to add the italics to the site name.

Open Payroll & Tax - Agile

Open Payroll and Tax is brought to you by the same team that built the payroll and tax filing systems for the 4th largest payroll company in the US. The system is built to provide you with the hosting option that fits your needs and your business. We combined our 100 years of payroll systems and operation experience with users…