While the installer creates the web service on IIS, it uses the default application pool, which may not have the required version of the .NET framework. Use IIS to select the .NET 4.0 application pool, if required.
Set the Microsoft .NET Framework version in IIS 7
Set the Microsoft .NET Framework version in IIS 6
Set Permissions to the Web Service Folders
The Web Service on 64 Bit versions of Windows
Testing the Web Service in IIS
Testing the Web Service from a Web Browser
Uninstalling