QuickBooks has long been established as the most popular and widely used accounting and bookkeeping software, especially in the small to medium business domain. QuickBooks has been lauded for its ease of use, efficiency, and performance without sacrificing any important features that professionals need to do their job. However, QuickBooks itself does not include any payroll features; it allows you to input manually processed payroll data or data from another third party payroll service provider. However, there exists one hassle free alternative that you should definitely consider if you are using QuickBooks software and also need a payroll service: QuickBooks Payroll.
QuickBooks Payroll is a paid add-on module that you can connect with your core QuickBooks desktop software or QuickBooks online subscription so that you can include Payroll items and entries directly into your QuickBooks records without any additional hassle. Technically, however, the module is named Intuit Payroll, Intuit being the developer of the QuickBooks family of online and desktop accounting and bookkeeping software. Intuit Payroll is not a QuickBooks dependent software and works perfectly well as a standalone piece of software that is also compatible with other software accounting tools, including those from QuickBooks competitors.
THE BEST CHOICE FOR SMALL BUSINESSES
QuickBooks Payroll is purpose built for small businesses with limited number of employees. You can configure QuickBooks Payroll to perform as much or as little of payroll related tasks as you specify depending on the methodology already in place at your business. QuickBooks Payroll is available in 3 different flavours depending on your requirements.
WHAT CAN YOU DO WITH QUICKBOOKS PAYROLL
The Basic plan costs USD 20 for the first six months, after which the cost increases to USD 25 per month, plus an additional fee of USD 2 per employee and allows you to directly print paycheques and perform direct deposits. This version includes only payroll services and does not include computation of payroll or any other taxation.
There also exists an Enhanced version that handles some of the more commonplace taxation responsibilities by generating all government payroll tax forms directly. It costs USD 31.20 per month for the first six months, after which the price increases to USD 39 per month, plus an additional USD 2 fee per employee.
The most expensive Full Service plan costs USD 79 per month for the first six months, after which the rate increases to USD 99 per month, in addition to a separate fee of USD 2 per employee. This version is a comprehensive payroll services package and handles all tax responsibilities to the fullest extent, including automatic payment of accurate taxes in advance of the deadline. Full Service plan has a professional Intuit representative set up your payroll system for you and also generates and prints all relevant documents necessary in payroll. The company also guarantees to pay any penalties you may incur if the software makes any mistakes in calculation or processing.
QuickBooks Payroll charges a per-employee fee, making it unfeasible for companies with large number of employees. However, for small and medium business enterprises, QuickBooks Payroll is the perfect package. It is convenient and offers great usability and compatibility with other industry standard accounting software.