A payroll agency is responsible for managing and processing an organisation’s employee payroll. The main role of a payroll agency is to ensure that employees are paid accurately, on time, and in compliance with relevant regulations and tax laws. This involves calculating and withholding taxes, processing deductions, and distributing employee paychecks or direct deposits.
Payroll agencies also handle other important tasks, such as maintaining employee records, responding to employee inquiries, generating payroll reports, and reconciling payroll accounts. They may also provide additional services such as benefits administration, time and attendance tracking, and compliance consulting.