Paychex is a human capital management (HCM) software and services company. It offers payroll processing services, including calculation, preparation, and delivery of employee payroll checks, production of internal accounting records and management reports, preparation of federal, state, and local payroll tax returns, etc.; payroll tax administration services providing preparation and filing of quarterly and year-end tax returns, as well as electronic transfer of funds to federal, state, and local tax or regulatory agencies; and employee payment services offering payroll account reconciliation for employers.