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Payroll & Bookkeeping Services in Tennessee

Author.Name IBISWorld United States Last Updated: April 2025 NAICS TN54121b

Payroll & Bookkeeping Services in Tennessee industry analysis

The Payroll & Bookkeeping Services industry in Tennessee is expected to grow an annualized x.x% to $x.x million over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments increased an annualized x.x% to x,xxx locations. Industry employment has increased an annualized x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x million.

Over the five years to 2030, the industry is expected to grow an annualized x.x% to $x.x billion, while the national industry is expected to grow x.x%. Industry establishments are forecast to grow x.x% to x,xxx locations. Industry employment is expected to increase an annualized x.x% to x,xxx workers, while industry wages are forecast to increase x% to $x.x million.

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About the Payroll & Bookkeeping Services in Tennessee Market Research Report

What’s Included in the Payroll & Bookkeeping Services in Tennessee Market Research Report

Definition of the Payroll & Bookkeeping Services in Tennessee?

Operators in this industry provide outsourced payroll services for clients’ employees and basic bookkeeping services are also included. However, this industry does not include tax preparation companies or certified public accountants.

What’s included in the Payroll & Bookkeeping Services in Tennessee?

The Payroll & Bookkeeping Services in Tennessee includes full-service payroll services, payroll services sold separately, billing services, bookkeeping and compliation services, general accounting services, tax planning and consulting services and tax preparation and representation services. Related terms covered in the Payroll & Bookkeeping Services in Tennessee industry report includes the procurement of goods or services under contract with an outside supplier, keeping record of a business' financial transactions and when businesses bring outsourced functions in-house to save money or improve service quality.

Industry Performance of the Payroll & Bookkeeping Services industry in Tennessee

Benchmark the Payroll & Bookkeeping Services in Tennessee industry performance with all TN county and national performance.

Payroll & Bookkeeping Services in Tennessee

#19 in Highest Revenue 1.2% of state's GDP
Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

Payroll & Bookkeeping Services in the US


Revenue (2025)
Annual Growth (2020-25)
Annual Growth (2025-30)

For the full list of industry drivers, see report purchase options.

Key Drivers of the Payroll & Bookkeeping Services industry in Tennessee

See how key industry drivers, such as unemployment rate, house price index, per capita disposable income, number of businesses, corporate profit and access to credit are impacting Payroll & Bookkeeping Services in Tennessee

Tennessee Economic Indicators

Unemployment Rate
House Price Index
Per Capita Disposable Income

View more economic information in TN State Economic profile

US Key External Drivers

Number of businesses
Corporate profit
Access to credit

For the full list of industry drivers, see report purchase options.

County Data of the Payroll & Bookkeeping Services industry in Tennessee

Access proprietary data on county in the Payroll & Bookkeeping Services in Tennessee, such as Davidson County, Knox County and Williamson County. Data includes figures on revenue, establishments, employees and wages by counties.

Key Statistics of the Payroll & Bookkeeping Services industry in Tennessee

Download 18 years of historical data and 5 years of projected performance.

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Top Questions Answered in this Report

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What is the market size of the Payroll & Bookkeeping Services industry in Tennessee in 2025?

The market size of the Payroll & Bookkeeping Services industry in Tennessee is $989.0m in 2025.

How many businesses are there in the Payroll & Bookkeeping Services industry in Tennessee in 2025?

There are 6,393 businesses in the Payroll & Bookkeeping Services industry in Tennessee, which has been growing at an average annual rate of 3.9% from 2020 to 2025.

Has the Payroll & Bookkeeping Services industry in Tennessee grown or declined over the past 5 years?

The market size of the Payroll & Bookkeeping Services industry in Tennessee has been growing at an average annual rate of 4.6% from 2020 to 2025.

How many employees in the Payroll & Bookkeeping Services industry in Tennessee in 2025?

There are 15,429 employees in the Payroll & Bookkeeping Services industry in Tennessee, which has been growing at an average annual rate of 2.1% from 2020 to 2025.