The application will automatically calculate, process, and file payroll tax forms, including tax deposits, for all 50 states, where necessary. It can handle both garnishments and deductions and allows you to add numerous employee pay types and designate multiple pay rates as well. 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.

They also help you when it comes to onboarding, job descriptions, and performance tools. You can set up the payroll to manage deductions and garnishments automatically. In essence, QuickBooks Payroll is a one-stop solution for businesses seeking to streamline their payroll operations, ensuring accuracy, compliance, and efficiency in every payroll cycle. While Intuit QuickBooks Payroll’s monthly base price is higher than that of most competitors, its per-employee fee is lower than average. Depending on how many employees you have, QuickBooks Payroll will actually save you money over time compared to Gusto Payroll and OnPay, which charge $40 a month plus $6 per employee.

1. However, it may cost extra to file or send 1099 forms, and fees may apply if you want your W-2s mailed.
2. The Premium and Elite plans include time-tracking tools and workers’ comp administration through AP Intego.
3. It is aimed at small businesses and can be used by medium-scale companies to automate employee payroll and taxes.
4. For employee health benefits, QuickBooks Payroll offers health insurance options through SimplyInsured, which helps small businesses find the best insurance packages for their budget.
5. Fortunately, there are payroll solutions available in the market that can help you with this.
6. Getting started with QuickBooks Payroll is surprisingly easy — especially if you already use the vendor’s accounting software.

Merchant Maverick’s ratings are editorial in nature, and are not aggregated from user reviews. Each staff reviewer at Merchant Maverick is a subject matter expert with experience researching, testing, and evaluating small business software and services. The rating of this company or service is based on the author’s expert opinion and analysis of the product, and assessed and seconded by another subject matter expert https://business-accounting.net/ on staff before publication. Merchant Maverick’s ratings are not influenced by affiliate partnerships. Intuit is undoubtedly a big player in the business software world, and the recent updates to its full-service platform demonstrate a willingness to adapt and improve. Companies might have to pay for the elite service with some add-ons to get the same price and level of features as other payroll platforms.

Quickbooks Payroll Features, Modules and Capabilities

The platform also boasts tools that help businesses stay compliant with tax regulations, reducing the risk of costly errors. Additionally, with its built-in time tracking and work hours calculator, businesses can efficiently manage employee hours and overtime. As with most payroll platforms, options are limited until the user completes the account setup process. We also wish QuickBooks Payroll included time-tracking features with all payroll packages, like Zenefits does.

Intuit Online Payroll At A Glance

I found QuickBooks relatively easy to navigate and enjoyed the guided approach to setting up your payroll system. You can play around with the software to get a feel for it before running your first payroll or adding your employees. QuickBooks also runs promotions for its payroll product frequently, so be sure to check for any available discounts before purchasing. quickbooks payroll review QuickBooks Online Payroll offers a 30-day free trial, but if you opt to try before you buy, you’ll miss out on a 50% off “buy now” promotion. We have had two major tax errors that have cost us thousands of dollars. In both cases, we followed recommendations made by Intuit agents and supervisors that resulted in overpayments in our Federal and State Taxes.

Year-End Tax Forms

Its most basic plan lacks local tax filings, and Core and Premium plan users also must pay additional filing fees for employees in other states. QuickBooks’ payroll service also prepares end-of-year tax filings, draws up W-2 and 1099 payroll tax forms, and submits those forms to the IRS on your behalf. Note that 1099 e-filing costs extra and applies to federal taxes only. QuickBooks Online Payroll earned 4.4/5 stars in the features category with plenty of features spanning payroll processing, employee management, time tracking, HR, and benefits administration. The bulk of the software’s lost points come from its local tax support limitations and limited HR integrations.

However, its HR functionalities aren’t as robust as other pay processing software, such as Rippling and Gusto. If you require advanced HR tools to hire employees and manage learning programs, consider either ADP or Paychex. Intuit Payroll offers small business payroll solutions that help with employee management, including hiring tips and tools, worker’s compensation and methods to pay employees quickly and easily. Businesses can choose from two, do-it-yourself plans or a full-service plan where Intuit does payroll for them. The software integrates with QuickBooks’ accounting suite, meaning payroll expenses are automatically synced with your books, simplifying account management.

quickbooks payroll key features and modules

There are many excellent payroll processing apps such as OnPay, Gusto, ADP, Paychex, etc. available in the market. Employees with an Intuit account have access to the workforce portal, which makes all payroll data available at their fingertips. If price is not a constraint for you, Intuit has a wide range of products that integrate seamlessly with each other to build an ecosystem to run your business.

If you need assistance with QuickBooks Payroll, there are several options available, such as higher plans or online tutorials. Alternatively, you can hire a QuickBooks online accountant to help you set up your payroll correctly. Starting an online business can be challenging, especially when it comes to managing your employees’ payroll and ensuring that you comply with all the necessary formalities. Fortunately, there are payroll solutions available in the market that can help you with this. One of the most popular ones is QuickBooks Payroll, which is part of the Intuit QuickBooks software suite that includes accounting solutions. Payroll ledgers, which involve payroll journal entries, are essential to recordkeeping whether you run payroll manually or automatically.

QuickBooks’ payroll is an add-on but is packed with features to include same-day direct deposit, employee self-service, tax compliance, time and attendance tracking, and benefits deductions. Many online payroll services administer retirement plans and health insurance or track paid time off (PTO). We liked that we could track sick and vacation pay or let the system automatically accrue hours per pay period.

Intuit QuickBooks Payroll is the best full-service payroll solution with an accounting integration, thanks to how it syncs seamlessly with QuickBooks Online. Whether you add a payroll module to your existing QuickBooks account or purchase a bundled plan, paying employees is a breeze. Moreover, small businesses benefit from tax filing for federal and state taxes through QuickBooks, as well as tax penalty protection. QuickBooks Payroll also stands out because it easily integrates with the vendor’s accounting software. Between the two products, businesses can efficiently process payroll, pay their payroll taxes, monitor company finances, track employee attendance, and even receive HR support. And with its seamless integration with QuickBooks’ accounting software, tracking payroll expenses and generating financial reports has never been easier.

It automatically imports necessary data and prepares 1099s that you just need to download and email to the contractors. Please note that this is available as a separate Quickbooks feature. You can take advantage of QuickBooks offers, where you can either get a 30-day free trial or a 50% discount on base fees for three months of service. The Ascent is a Motley Fool service that rates and reviews essential products for your everyday money matters.