MARLBOROUGH, Mass. - Fidelity Investments has introduced an online payroll service for its small-business clients.
It devised Electronic Payroll after a survey it conducted found that nearly four in 10 small businesses outsource their payroll administration.
Small businesses can view their payroll results through the system a few days before posting. Employees can check their own earnings statements and make changes to personal data, deductions, and direct deposits.
Small-business owners using the service can integrate their payroll databases and 401(k) databases so that employers and employees can enter new-hire data once to satisfy both administrative tasks. The integration also allows employee contributions to 401(k) plans to be posted automatically upon their pay dates.
