Payroll services are a type of financial service that assist employers in paying their employees on time and accurately. These services typically handle tasks such as calculating and distributing employee paychecks, handling taxes and other deductions, and tracking employee vacation and sick time. They can also provide additional services such as direct deposit, online access to payroll information and compliance with government regulations. Payroll services can help to save employers time and reduce the risk of errors and penalties. They can also provide valuable analytics and insights on employee compensation, benefits, and other related data. Employers can choose to outsource payroll services or use payroll software that can be run in-house.