How much do payroll companies charge for their services?
A5. Prices vary based on the frequency of the payroll (how often it runs), the number of Employees being paid and the features selected to be implemented by the payroll services. For example, one school may want direct deposit services; another may want to handout paychecks. Frequently, payroll service companies have a menu of choices and their fees reflect choices made. In Massachusetts, the average mature charter school has approximately 40 full- and part-time employees and payroll service costs A cost estimate, based on straight payroll and direct deposit, including tax withholding but not benefit payments would range from $10-20/employee per month or $200/year per employee, on average. A new school with 10 or less employees and consultants would likely cover their annual payroll costs for approx. $2,000.
