QuickBooks Payroll Review
QuickBooks Payroll is one of the best-known payroll solutions. It is a cloud-based solution with excellent scalability and integration option. For businesses that do not want to use the cloud, Inuit offers a Desktop version that users can install locally. QuickBooks Payroll can also be integrated with QuickBook’s powerful accounting software. With Intuit QuickBooks Payroll software, small businesses can automate employees payroll and tax filing. It also protects the interest of companies by ensuring timely tax filing and resolving disputes if they take place.
Ease of use
Value for Money
Starting from: $45/month
Pricing Model: Subscription
Yes, has free trial
No free version
- Same-day or next-day direct deposit
- User-friendly and easy to use
- Works well with QuickBooks Accounting software
- Automated tax filing
- Tax penalty protection with Elite plan
- Pricey and additional fees
- Limited integrations
- Bad customer’s reviews
- Small business
- Medium business
- Non-profit Organization
- Cloud, SaaS, Web-Based
- Mobile - Android
- Mobile - iPhone
- Mobile - iPad
Intuit QuickBooks payroll
Starting your online business is always challenging. You have to think about how to scale your business and keep in mind the formalities that come with managing your employee’s payroll. To resolve, you can use a Payroll solution in the market. One of the popular payroll solutions is QuickBooks Payroll. It is part of the Intuit QuickBooks solution, which is an accounting solution. If you are a small business, you will find QuickBooks ideal for taking advantage of their accounting software.
QuickBooks Payroll is a cloud-based online payroll solution that takes care of your payroll management, including taxes. They also offer a Desktop version which gives businesses the ability to install QuickBooks Payroll locally. Our QuickBooks Payroll review will take a deep look into its features and see how it automates payrolls and tax filing.
What does QuickBooks Payroll do?
QuickBooks Payroll comes with a good collection of features to automate payroll and tax filing for organizations and employees. The tax filing solution is well-made as it ensures that you file your tax forms without error and submit them within the due date. It also guarantees no No-Penalty and ensures that it resolves any dispute that can happen while filing taxes. If you opt for their highest plan, you also get the option to protect your business against tax disputes. They will protect your business and pay fines up to $25000.
On the other hand, workers get access to Workforce portals to get access to vital information. Their plan starts from $22.50 per month. If you are not sure how to work with QuickBooks, then you can take help from their higher plans or available online tutorials. However, if you cannot spend that much time, you can search online for QuickBooks online accountant who can help you set up your payroll properly.
How to do payroll in QuickBooks?
Payroll management is a crucial part of any business. You can approach payroll set up manually. However, it requires you to do the entire process yourself. The exact steps required for a manual approach includes:
- Gather employee tax information
- Ask employees to fill up Form W-4
- Determine payroll schedule
- Calculate gross pay
- Withhold income taxes
- Pay payroll taxes
- Report and file payroll
- Keep payroll records
However, you do not have to do manual steps if you opt to use QuickBooks. QuickBooks makes it easy to do payroll. But, how do you do it? Let’s quickly go through the steps required for setting up payroll in QuickBooks. The software approach is more refined and automated. In this tool, you can easily set up the payroll by setting up with IRS. You also need your employees to complete the W-4 forms and then add them to the system.
Once done, make sure that you have entered all the required information, including employee and business info. Next, you need to double-check the first payroll and make sure that everything is working as intended. Once done, run your first payroll, and you are set!
How to set up QuickBooks?
In short, the steps required to set up payroll in QuickBooks include:
- Ask employees to W-4 forms
- Add them to the system
- Setup business and employee information
- Let the software do calculations
- Review the first payroll
- Process the first payroll run
QuickBooks Payroll Features
QuickBooks Payroll comes in cloud-based and desktop versions. However, in reality, both these versions share the majority of the features. The only difference being a platform-based feature which we will cover briefly later on.
This great tool aims to solve small business problems when it comes to payroll management and tax filing. With a simple philosophy to help businesses, it offers some excellent features that ease the pain for newly started businesses and even businesses that are in the industry for quite some time. So, what are these QuickBooks Payroll features? Let’s explore them below.
Full-service payroll is one of the key features of this tool. The feature is available on all of their plans and covers the basic functionality required to automate taxes and forms. However, as mentioned, it is a collection of features. These features include:
Fast unlimited payroll runs
The fast unlimited payroll runs feature lets businesses manage employee hours and payrolls. Employees can approve employee hours and do payroll by investing few minutes.
Calculate paychecks and taxes
QuickBooks Payroll completely automates paychecks and tax calculations. With an automated approach, every time a paycheck is processed, the system calculator tax based on updated state and federal taxes.
Automated tax and forms
Automated tax and forms are based on state and federal payroll taxes. It includes year-end filings, which the system automatically calculates. It also fills the forms and pays the taxes automatically.
Employees can access vital payroll information through the Workspace portal. For example, they can access W-2s and pay stubs. They can also safely view withholding allowances and PTO balances.
QuickBooks Payroll is available across all 50 US states.
This feature enables users to work with reports. For example, users can create and download reports related to bank transactions, payroll history, paid time off, contractor payments, and more.
Manage garnishments and deductions
You can set up the payroll to manage deductions and garnishments automatically.
Auto payroll lets employees set up auto-payments for employees using direct deposit. As a business, you are free to check and approve payrolls before the system makes the payments. To ensure flexibility, businesses can also add compensation and bonuses.
QuickBooks Payroll comes with health benefits. The health benefits are provided by SimplyInsured, which provides quotes based on your budget and needs. In addition, businesses can set it up easily and manage employees’ health benefits directly from the dashboard.
With QuickBooks Payroll, you also get the option to set up employee’s retirement plans using 401(k) plans. This helps you attract talent and keep them within the organization. Moreover, Payroll also makes sure that recordkeeping and compliance are met with no extra cost.
1099 E-File and Pay
With QuickBooks Payroll, you also get the option to create and e-file 1099-NEC and 1099-MISC forms.
Expert Product Support
To ensure businesses can run smoothly, QuickBooks Payroll offers excellent support through chat and phone. The chat support is available 24/7. However, phone support is available five days within the week from 6 AM to 3 PM PT.
HR Support Center
If you get their higher plans, you also get access to the HR support center, answering your questions regarding compliance, wage, and laws. It helps you to stay ahead of all the formalities. They also help you when it comes to onboarding, job descriptions, and performance tools.
Tax Penalty Protection
The highest plan comes with Tax penalty protection which ensures that you do not have to worry about taxes. If, for some reason, penalties are levied on your business, QuickBooks Payroll takes care of it. They pay up to $25,000 per year in penalties.
These QuickBooks online payroll features apply to the desktop version. However, the desktop version comes with few additional features, including W-2 Employees, Year-End Forms, etc.
QuickBooks Payroll Pricing
QuickBooks Payroll is a cloud-based solution. However, they also offer desktop variations for a business that wants to install and use it on local computers. If you want to discover all its pricing plans, you can read more on our dedicated page.
Starting From: $45/month (Monthly Plan)
Pricing Model: Subscription
Free Trial: 30-days
QuickBooks Payroll Integrations
Not all businesses are the same, and that’s why they require integrations to integrate 3rd party solutions seamlessly. At the time of writing, QuickBooks offers to integrate with 650 popular business apps. The integrations let you quickly transfer data from other sources, eliminating the need to do manual, tedious data entry. It also works well with 3rd party analytics, content management systems, eCommerce solutions, and more.
Some of the notable integrations that work with QuickBooks include:
- Amazon Businesses
- SOS Inventory
- Housecall Pro
QuickBooks Payroll Alternatives
The Payroll industry is growing to serve the needs of small and medium scale businesses. This means that QuickBooks Payroll is not alone. Although even this product is ideal for most businesses, it is not the only choice. So, let’s go through some of the well-known alternatives to QuickBooks Payroll.
QuickBooks Payroll Review Conclusion
QuickBooks Payroll is undoubtedly an easy way to handle your payrolls and taxes. It is aimed at small businesses and can be used by medium-scale companies to automate employee payroll and taxes. With a clean dashboard, companies can see every vital information and take appropriate actions when needed. Automation is also a big part of this software as once it is set up, you can opt to enable Autopay without any human interface. Taxes are also well managed, with automation playing a major role. However, their pricing can be on the higher side, turning away smaller businesses for alternatives.