Payroll is integral to all businesses and organizations. Efficient management of Payroll is necessary to protect the company’s reputation and stature. The finest example of an all-around Payroll Accounting software is Intuit Payroll Services.
Currently, Intuit is providing two service plans the Self-Service Payroll and the Full-Service Payroll. Both of them have an exceptional and user-friendly feature that makes you save money, run payroll in minimal time gives you the peace of mind and service satisfaction. You can get Intuit payroll service integrated with QuickBooks Online to get QuickBooks Online Payroll options as your payroll manager.
Integrating QuickBooks Payroll with QuickBooks Online requires no data sync and gives updated Financial statements all the time. Today we will discuss and understand the features and benefits from the two service plans that Intuit is offering.
Latest QuickBooks Payroll Options
Self Service Payroll
Self Service Payroll by Intuit is a complete Payroll Solution to take care of Payroll and Taxes at one place. It just takes about an hour to set up ‘Self Service Payroll’ and then run the ‘First Payroll.’ You can easily perform payroll calculations, easily pay your workers, and manage taxes efficiently.
It comes in three service plans such as the Self -Service Payroll, Self Service Payroll with QuickBooks and Self-Service Payroll with QuickBooks Plus. The maximum features are in the third option. The last option is the costliest of the three. Choose your desired one as per the business needs.
Features and Benefits
- Easy tax calculations – The Self-Service Payroll is an excellent tool to perform payroll calculations for up to 50 employees. You need to enter the 50 employees, and this will automatically calculate taxes & the deductions. Additionally, it costs nothing to file and pay federal and state taxes online. You can do this directly from QuickBooks.
- Pay efficiently – It allows you to quickly pay both employees, e. 1099 contractors, and the W-2 employees. Moreover, the employees can see their Paychecks Online.
- E-Filing – You can E-file the taxes yourself in the new Self-Service Payroll. If you want Intuit to help out here, then look for the ‘Full-service’
- 24 Hour Direct Deposit – You can submit your Payroll for the full team one day before the Payday. No need to do any planning beforehand and spend valuable time in making payroll to give it on-time.
- Run Payroll on the move – You can access and complete payroll within a few minutes even when you are traveling or are on the go.
- Payment Options can be customized – The user can decide and choose how to pay the workers and in what frequency. This allows you to manage different payment types without worry and hassle.
- Payment Reminders – Regular payment reminders come up so that you are always updated on what you owe and when to pay. The reminders also include Automatic Tax Updates, where you can see the latest Federal & State Tax rates to fill payroll taxes correctly.
- Employee Time tracking – Working with Tsheets makes time tracking simplified and saves on an average of 10% of the Payroll Costs
- Saves Time – Automatic payroll and accounting sync and updates save on a lot of valuable time. Additionally, you can share correct payroll & accounting data with your accountant whenever you want.
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Three plans come in QuickBooks Full Service Payroll. The Full-service payroll, Full-Service Payroll with QuickBooks and Full-Service Payroll with QuickBooks Plus. The latter two have more benefits as compared to the ‘Full-Service Payroll’ plan. If you choose Full-service Payroll with QuickBooks Plus, then you avail the maximum benefits.
In addition to several features of the Self Service Plan, the Full-Service Payroll has many other features as well.
Features and Benefits
- Payroll Taxes managed for you – Intuit takes care of the Payroll Taxes, calculates and files all forms. The US-based expert team helps you get started. Any tax penalties or fees are also taken care of by Intuit.
- Customized Payment Options – The full-service plan gives liberty for you to choose how to pay your workers and at what frequency. Customization comes handy in handling employees with different pay criteria and frequency.
- Error Free- tax filling – Intuit handles filing & payment of federal and state taxes from beginning till end. You have 100% penalty-free guarantee. Moreover, the team resolves filing errors and pay any penalty fees too if required. Monthly, Quarterly, & Annual forms will be files automatically. The IRS representation can also be done if there is an issue.
- Real-time data updates – The Payroll and accounting data syncs automatically and saves on valuable time. You can easily share accurate, real-time payroll & accounting data with the accountant at any time. Additionally, faster & cost-free 24-hour Direct deposits for the employees & contractors allows you to run payroll when you are ready.
- Same-Day Direct Deposit – QuickBooks Online Full-service payroll has a feature to take advantage of the same day direct deposit. There are some pre-requisites:
- You need to US-based QuickBooks Online Full-Service Payroll account active and in a good
- You can create payroll & approve the ‘Direct Deposit by the Times Zones deadlines that are- 7 am pacific time zone, 9 am Central time zone 10 am eastern time zone.
What are Instant Bank Account Connections with QuickBooks Online Payroll?
This feature comes if you or your clients use one of the large banks. The Same day Bank Account connections allow faster payroll setup, and you do not have to wait for the test transaction to clear the bank. Below given is the list of banks with which you can make Instant connection with QuickBooks Online Payroll.
- Wells Fargo
- Citi Bank
- TD Bank
- Bank of America
- US Bank
- BB & T
- USAA Bank
The New Payroll features and QuickBooks Online Payroll options provide great convenience & flexibility. The new features give more time to approve the Payroll ‘Direct Deposits’ to both employers and accountants, whoever is processing the payroll.
Thank you for reading this article. Now you know the benefits of subscribing to QuickBooks Payroll options. Choose the best one as per your business needs and live stress-free from payroll worries. You can also directly speak to a QuickBooks Payroll Expert at the QuickBooks Payroll Support Number and get your plan started.