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Payroll and HR for financial services and professional businesses

Trusted financial institutions and professional services need to focus on providing well-rounded support to their clients, not payroll and HR headaches. We simplify payroll, HR, and compliance management so youu don't have to worry.

Fill out the form below for a quote, demo or more information and a member of our team will be in touch.
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Payroll and HR Software for Financial Services and Professional Businesses

Running a financial services business means more than balancing spreadsheets and advising clients. Whether you manage a regional bank, a CPA firm, a law firm, or any other type of financial or professional service business, you’re also responsible for staying compliant with strict labor laws, protecting sensitive data, and managing a diverse workforce across departments or locations.

Our payroll and HR solutions are tailored to the unique demands of the this industry. From handling multi-state compliance and tracking employee certifications to managing commission structures and streamlining onboarding, our tools help reduce administrative burden, ensure accuracy, and keep your business audit-ready—so you can focus on serving your clients with confidence.

 

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Benefits of Payroll and HR Software Geared for Financial Service Businesses

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Managing tipped and non-tipped employees

Tracking reported tips, managing tip pooling arrangements, and calculating FICA tip credits can quickly become overwhelming. Staying compliant with tip-related regulations and reporting is complex, and a single mistake can lead to penalties or audits.

 

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Handling multi-roles and various pay rates

In many restaurants, employees work multiple roles—sometimes even across different locations—with different pay rates for each. Calculating blended overtime and ensuring accurate pay each shift is tedious, error-prone, and time-consuming.

 

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Staying compliant with evolving labor laws

Federal and state labor laws are constantly changing. From Maine’s Earned Paid Leave and Paid Family and Medical Leave Program to minimum wage updates and employee classification rules, staying compliant takes time, attention, and up-to-date knowledge.

 

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Employee turnover, hiring, and onboarding

With high turnover and seasonal staffing needs, you're constantly bringing on new employees. Without an efficient process in place, sourcing candidates, hiring, and onboarding becomes a paperwork headache—slowing down operations and increasing the risk of errors.

 

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Reduced compliance risk

Financial services firms operate in one of the most highly regulated industries. With state-specific labor laws, paid leave requirements, and licensing regulations, compliance is non-negotiable. Our tools help you stay audit-ready by automating tax filings, tracking labor law changes, and maintaining complete records.

 

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Improved cash flow

In a world where managing revenue and expenses is key, unpredictable payroll costs can throw off your balance. Automating tax payments, escrow management, reimbursements, and payroll allocations gives you more control and transparency over labor costs—so you can plan ahead.

 

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Increased efficiency

Juggling multiple locations, departments, and employee roles—especially with commission structures or variable comp—creates a heavy admin load. Our platform automates time tracking, payroll calculations, and GL exports, giving you back hours each pay period and drastically reducing the risk of manual errors.

 

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Integration and Data Connectivity

If your service offerings work alongside payroll systems, we can work with you to integrate our platform with your existing systems or partner platforms. Automating data transfer reduces manual entry, improves accuracy, and helps your back office run smoother, so you can deliver better results to your clients.

 

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Key Payroll and HR Features of Our Software

Multi-Location & Department Tracking

Whether you're managing branch staff, remote teams, or departments like advisory, operations, and compliance, our platform tracks payroll and HR tasks across locations and units with accuracy and clarity.

Secure Data Handling

Protecting sensitive employee and client information is critical in financial services. Our platform uses industry-grade encryption, role-based access, and audit logs to keep data secure and help you meet strict compliance and privacy standards.

Automated Commission & Bonus Tracking

Many financial firms offer performance-based incentives that can vary by role, department, or client. Our system accurately calculates and distributes commissions and bonuses, reducing manual work and ensuring fair, timely compensation.

Custom Software Integrations

We can build integrations with your existing systems to eliminate manual entry and reduce errors. Custom integrations improve workflow and ensure your data stays in sync across systems.

General Ledger Integration

We’ll build custom general ledger reports tailored to your accounting system or QuickBooks, making it easy to reconcile and report payroll expenses.

Employee Learning & Development

Easily assign and track professional development, compliance training, and certifications to keep employees growing and your team compliant.

Applicant Tracking & Onboarding

Effortlessly manage the hiring and onboarding process from start to finish with our streamlined applicant tracking and onboarding solutions. Our platform allows you to post job openings across multiple channels, track candidate progress, and streamline new hire onboarding with mobile-friendly electronic forms.

HR Consulting Support

Augment your internal HR team with our HR consultants. Whether you need policy updates, compliance guidance, or strategic advice, our local experts are here to help.

Role-based Document Management

Track required credentials, licensing, and certifications by employee role or department with automated alerts. Further, centralize sensitive employee documents, signed agreements, handbooks, and compliance records in a secure, cloud-based system with audit trails—helping you stay organized and audit-ready.

Customized Manager Access

Empower managers and department leads with tailored access to payroll and HR data and tasks relevant to their teams—without compromising confidentiality. This makes it easier to support their employees and respond to issues in real time.

Benefits Management & ACA Compliance

Easily track eligibility, manage open enrollment, and stay compliant with ACA regulations. Benefits can be customized by employee class, and payroll deductions are automated to save time and reduce errors.

Mobile Time Tracking & Scheduling

Track time, manage overtime, and administer PTO policies across your firm—whether you have hourly staff, salaried employees, or seasonal team members. Sync time data directly into payroll for faster, more accurate processing.

Workers' Comp Administration

Accurately break down workers' compensation premiums by department or class code. Pay-as-you-go options keep billing tied to real-time payroll data instead of large upfront payments, which is a great cash flow tool.

Custom Reporting

Generate real-time reports on payroll summaries, tax filings, hours worked by department, or commissions paid. Create audit-friendly records that support your internal reviews and external compliance needs.

Empowered Employees

A streamlined payroll and HR platform improves retention and strengthens your internal brand. By offering digital onboarding, clear benefit access, and modern tools, you stand out in a competitive hiring market. Payroll and HR tasks can be accessed by employees 24/7 from any device.

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Your Back Office Deserves a Better Return

Upgrade your payroll and HR processes with solutions designed for firms like yours.

Let's Talk!
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Types of Financial and Professional Businesses We Serve

Financial Institutions Payroll & HR

Financial Institutions

Banks, credit unions, investment firms, and wealth managers typically operate across multiple branches with layered teams, commission-based pay, and strict regulatory requirements. Staying compliant while managing a dispersed workforce is a constant challenge.

We help by automating commission and bonus calculations, enabling secure multi-location scheduling and payroll, and maintaining real-time access to employee data. With built-in compliance tools and customizable reporting, your team gains visibility and control across the entire organization.

Legal Services Payroll & HR

Legal & Professional Services

Law firms, consultants, and professional service businesses often have multi-state teams, complex compensation models, and a high demand for confidentiality and compliance. Managing payroll alongside project or client-based billing can get complicated fast.

We support these firms by streamlining payroll for salaried and hourly employees, applying state-specific rules, and ensuring employee data remains secure and audit-ready. Our platform offers centralized recordkeeping and compliance tools, making it easier to stay organized across departments and jurisdictions.

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Accounting & Advisory Firms

Accounting firms, CPAs, and outsourced finance teams often manage seasonal workloads, fluctuating staffing levels, and a mix of full-time and contract workers. With tight deadlines and billable hours at stake, accuracy and efficiency are critical.

We help by automating time tracking, simplifying payroll for variable staff types, and integrating directly with accounting platforms like QuickBooks. Our system reduces manual entry errors and keeps payroll aligned with your reporting needs—so your team can stay focused on serving clients, not sorting spreadsheets.

Benefit Payroll & HR

Benefits & Retirement Providers

Retirement advisors, benefit brokers, and third-party administrators need smooth data sharing, seamless integrations, and airtight compliance with benefit regulations. When managing client relationships and regulatory deadlines, inefficiencies can’t get in the way.

We make it easy to connect payroll and HR data with your benefit platforms, automate eligibility tracking, and generate reports for ACA, retirement contributions, and more. Whether you’re administering plans or partnering with clients, our tools help you deliver timely, accurate, and compliant service.

Financial Institutions

Banks, credit unions, investment firms, and wealth managers typically operate across multiple branches with layered teams, commission-based pay, and strict regulatory requirements. Staying compliant while managing a dispersed workforce is a constant challenge.

We help by automating commission and bonus calculations, enabling secure multi-location scheduling and payroll, and maintaining real-time access to employee data. With built-in compliance tools and customizable reporting, your team gains visibility and control across the entire organization.

Financial Institutions Payroll & HR
Legal Services Payroll & HR

Legal & Professional Services

Law firms, consultants, and professional service businesses often have multi-state teams, complex compensation models, and a high demand for confidentiality and compliance. Managing payroll alongside project or client-based billing can get complicated fast.

We support these firms by streamlining payroll for salaried and hourly employees, applying state-specific rules, and ensuring employee data remains secure and audit-ready. Our platform offers centralized recordkeeping and compliance tools, making it easier to stay organized across departments and jurisdictions.

Accounting & Advisory Firms

Accounting firms, CPAs, and outsourced finance teams often manage seasonal workloads, fluctuating staffing levels, and a mix of full-time and contract workers. With tight deadlines and billable hours at stake, accuracy and efficiency are critical.

We help by automating time tracking, simplifying payroll for variable staff types, and integrating directly with accounting platforms like QuickBooks. Our system reduces manual entry errors and keeps payroll aligned with your reporting needs—so your team can stay focused on serving clients, not sorting spreadsheets.

Accounting Payroll & HR (1)
Benefit Payroll & HR

Benefits & Retirement Providers

Retirement advisors, benefit brokers, and third-party administrators need smooth data sharing, seamless integrations, and airtight compliance with benefit regulations. When managing client relationships and regulatory deadlines, inefficiencies can’t get in the way.

We make it easy to connect payroll and HR data with your benefit platforms, automate eligibility tracking, and generate reports for ACA, retirement contributions, and more. Whether you’re administering plans or partnering with clients, our tools help you deliver timely, accurate, and compliant service.

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FAQs for Financial and Professional Services Payroll & HR

How do I choose the right software for my firm?

Start by evaluating your organization’s unique needs. Consider how you manage employee compensation, track certifications, handle compliance, and operate across multiple branches or departments. Look for software that supports your specific workflows, like commission tracking or audit reporting.

Next, consider scalability and flexibility. As your firm grows, your payroll and HR solution should adapt—whether you're adding remote staff, expanding into new states, or restructuring internal roles. Finally, analyze the vendor’s reputation and support model. Financial services firms need responsive, knowledgeable partners. Choose a provider with proven industry experience, robust security measures, and ongoing support—not just a software subscription.

How does payroll and HR software impact employee experience?

Today’s workforce expects a seamless digital experience—and that includes payroll and HR. The right software enhances talent attraction by offering mobile access to pay stubs, benefits, and onboarding documents. It shows potential hires that your firm is modern, organized, and employee-focused.

It also streamlines onboarding processes. New hires can complete documents, enroll in benefits, and review policies from any device, reducing administrative delays and improving first impressions. Lastly, it supports continuous learning and development by assigning role-specific trainings, tracking certifications, and giving employees a path for growth—key to retention in a competitive talent market.

What compliance challenges do financial services businesses face in HR and payroll?

Financial services firms must stay compliant with federal laws like FLSA and FMLA, state labor laws, and industry-specific regulations around licensing, overtime, and data security. Managing multi-state employees, classifying contractors vs. employees, and tracking continuing education or credential expirations can quickly become overwhelming.

Modern payroll and HR platforms simplify compliance with automated tracking, secure data storage, and built-in alerts for expiring certifications or upcoming labor law changes. They also maintain detailed audit logs, so you’re always ready for a regulatory review or internal audit.

Can payroll software integrate with our accounting and benefits systems?

Yes—most modern payroll and HR platforms, including ours, are designed to integrate with your firm’s existing systems. Whether you use QuickBooks for accounting, a separate platform for time tracking, or partner with benefit and retirement plan providers, integration is key to saving time and reducing errors.

Automating data flow between platforms improves accuracy, ensures payroll is always aligned with your general ledger, and eliminates the need for duplicate entry. For firms that serve clients—like CPAs or benefit brokers—these integrations also enable smoother data sharing and client service delivery.

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Stop Letting Compliance Keep You Up at Night

We’ll help you simplify payroll, reduce risk, and stay audit-ready.

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Why Work With Paper Trails?

Choosing the right HR and payroll partner is essential for financial and professional service firms navigating regulatory complexity, evolving workforce expectations, and tight operational timelines. Paper Trails offers more than just payroll software—we provide hands-on support and tailored tools designed to meet the specific demands of banks, accounting firms, advisory practices, and other financial institutions.

Local Support, Real People

Work with a Maine-based team that understands your needs—no call queues, just real people ready to help.

Focused Features

From multi-state compliance and commission tracking to credential management and secure data handling, we understand the demands of financial and professional service firms because we’ve supported businesses like yours every step of the way.

Hands-On Implementation

From setup to staff training, we’re there every step of the way to ensure a smooth transition and long-term success with your payroll and HR processes.

Deep Industry Experience

We work with numerous financial and professional service providers across Maine and beyond. We understand the unique operational and compliance challenges you face at every size.

Regulatory Expertise

Our team stays on top of local, state, and federal mandates, ensuring you're always prepared for audits or legislative changes.

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Paper Trails Team
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What clients are saying about the team at Paper Trails

5-star

Fantastic payroll service for my law firm! Timely, informative, and quick to be in touch with issues or updates. I can't believe I waited this long to engage Paper Trails!

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Amy McGarry
McGarry Law Offices, P.A.

5-star

Our company (D&C Home Care) switched from a mega payroll company to Paper Trails and we are so happy we did! The staff are extremely knowledgeable, professional and helpful! It's wonderful to have a local person you can pick up the phone and call if you have a question or a problem. Would highly recommend!!

 
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Wendi Saracino
D&C Home Care

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Is Your Payroll Situation Less than Perfect?

We’ll stay in the weeds to manage your payroll, Human Resources, and compliance needs.

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207.721.8575

10 Main Street, 2nd Floor Kennebunk, ME 04043

1 Bowdoin Mill Island, Suite 302 Topsham, Maine 04086

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