What is QuickBooks Payroll Software?
QuickBooks Payroll is a cloud-based payroll software designed to help businesses run payroll accurately and on time. It simplifies tax compliance by automatically filing federal and state taxes. It also manages employee timesheets, reducing manual entry and saving time whenever you run payroll. With next-day or same-day direct deposits, employers can pay employees quickly and meet payroll deadlines with confidence.
What Is QuickBooks Payroll Best For?
The biggest strength of QuickBooks Payroll is its ability to handle taxes automatically. It takes the burden off your shoulders and handles all tax and compliance tasks such as calculating deductions, filing, and paying state and federal payroll taxes. It eliminates the need for double-checking spreadsheets or staying up late to meet filing deadlines.
Additionally, the Elite Plan includes tax penalty protection, which means if there is an error in tax filing, QuickBooks has you covered. This makes the software extremely valuable for small businesses that do not have an in-house accounting team. It keeps business owners free to focus on expanding their businesses, knowing that payroll and compliance is being handled in the background.
QuickBooks Payroll Pricing
QuickBooks Payroll offers tiered pricing, which allows you to choose the pricing plan that meets your organization’s needs. Three payroll pricing plans offered by QuickBooks include:
- Payroll Core - $50/month + $6.50/employee/month
- Payroll Premium - $88/month + $10/employee/month
- Payroll Elite - $134/month + $12/employee/month
Disclaimer: Pricing is subject to change.
QuickBooks Payroll Integrations
The software is designed to simplify payroll, HR, and compliance tasks. It can seamlessly integrate with the following software:
How Does QuickBooks Payroll Work?
Being stressed while running a payroll is a thing of the past. With QuickBooks Payroll, running payroll and completing compliance tasks feel like a breeze. Here is how the software works:
- Use your credentials to log into QuickBooks online or desktop version and open the payroll dashboard
- The software allows you to view all the employees and contractors in the employee list section. You can simply add new employees by selecting their employment type and inputting relevant details
- You can review the current pay cycle and verify salaries, deductions and benefits in the pay cycle overview. You can also view submitted timesheets (via QuickBooks Time if integrated)
- Employees receive pay via direct deposits (same-day or next-day as per your preference). You can also download pay stubs, W-2, and 1099 forms as needed
- In the reports and taxes section, you get access to detailed payroll reports and tax filing. With this information in hand, you can ensure compliance and simplify end-of-year reporting
- QuickBooks Payroll integrates with QuickBooks Time, HR support, and benefits management help streamline payroll even further for growing teams
Who is QuickBooks Payroll for?
The platform can be used across a variety of industries, including but not limited to:
- Construction
- Legal
- Nonprofits
- Retail
- Professional Services
Is QuickBooks Payroll Right For You?
If you are a small to mid-sized business looking for secure and scalable software to manage payroll, taxes, and employee benefits, then QuickBooks Payroll is the right fit for you. It works best for companies that do not have an in-house accounting team and want automated pay runs, accurate tax filings and integrated time tracking.
Still confused if QuickBooks is the right fit for your business? Call us at (929) 590-9554 to talk to our software experts and they will help you make an informed decision!