Payroll services in Colorado offer clients a lot of bang for their buck. They recognize that business owners today have to adapt to a changing paradigm - economic challenges are forcing businesses to run lean. As a result, businesses are focusing on the functions that produce income and outsource the rest. Processing payroll internally can be costly considering the expensive accounting software, training employees, processing time and potential penalties and interest if taxes are filed incorrectly.

Colorado payroll companies eliminate the headaches and anxiety associated with processing payroll. With a variety of payroll services in Colorado, it's easy to find exactly what you need. Colorado payroll services can provide you with a convenient web interface to make your own payroll entries or a complete enterprise application with all the bells and whistles. So, what type of add-ons are available?

1. Benefits/retirement plan administration to reduce employer tax liability;

2. Time and attendance solutions to automate collection and reduce payroll errors;

3. Direct deposit and pay cards for convenience;

4. Garnishment processing to ensure compliance with Colorado payroll regulations as well as other federal and state agencies;

5. Comprehensive reporting tools to promote strategic planning;

6. Integrated human resources and recruiting functionality to streamline processes.

Action Steps
The best contacts and resources to help you get it done

Identify national providers offering payroll services in Colorado

If you have a sizable workforce spread across multiple states, research providers with a national footprint to handle your Colorado payroll processing. They will typically offer the most advanced solutions for your payroll needs.

I recommend: ADP which allows you to choose a package based on the size of your workforce. Paychex also allows you to customize your package by selecting from a menu of available items.

Examine Colorado payroll companies that specialize in the local market

If your workforce is centralized in the local area you may choose to work with a company that concentrates on payroll processing in Colorado. Many of these companies also provide services across the United States but satisfy the hometown feel of working with a payroll service in Colorado.

I recommend: PayTech, Inc., supplies payroll consulting and outsourcing services across the United States and Canada. MSEC OneSource will conduct a needs assessment analysis so you get the functionality you need and nothing else.

Find a bank that offers payroll processing in Colorado

Banks are starting to offer payroll processing services as a way to retain their business customer - providing a one-stop shop for Colorado payroll services.

I recommend: Wells Fargo offers a discount on processing fees for trying their product. They also offer a demo of their ExpressPay Plus product right on their website.

Investigate CPAs and bookkeeping services that handle business payroll in Colorado

Many accounting firms will process business payroll in Colorado. This is a natural extension of the services they already offer clients.

I recommend: Payroll Specialists is a Colorado payroll service owned by a CPA; you have the peace of mind of knowing your provider is up-to-date on any tax law changes.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Once you narrow your list of Colorado payroll service providers, ask each company for references from current clients. Ask for clients in your industry to ensure they are aware of the unique challenges you face.
• •  Payroll companies in Colorado offer many different packages with a menu of options so make sure you compare the features, prices and service levels before making a final decision.