QuickBooks Payroll Options to Think About
Ideas to Improve Your Business and/or Lower Costs
There are several options here that we have found are very beneficial to the business and at the same time lower your costs. Whether to use QuickBooks Payroll or a 3rd Party Service is a key decision to make.
If you are using QuickBooks, the most obvious selection is to use Intuit Payroll.
There are three basic Intuit payroll options ... Basic, Enhanced, and Full Service.
The Enhanced is the most common option used by small businesses since it included the tax filing forms for State and Federal, where the Basic option does not. However, this means you are responsible to do the payroll using Intuit's tax tables, pay your taxes on time, file all the returns, pay at least $400.00 - $500.00 each year for tax table usage and per employee fees each pay period, and a required QuickBooks upgrade every third year. *
The system has the ability to connect electronically to pay and file Federal Taxes, and if your State allows it, do the same for your State taxes. When setup properly the system will notify you well when all this is due, but I often see that this has not been done and late filing penalties then happen. It is your responsibility to pay and file on time.
It is also important that the Payroll Items are setup correctly, so your payroll is distributed properly. We have often found this not to be the case, because the client had their CPA or Accountant set it up. This is almost always a mistake because they are not concerned about providing you with operating information to run your business, just your taxes. We often see that all payroll is distributed to one account, wages ... which for benefits of the business owner is completely incorrect.
A Full Service Payroll option transfers the responsibility and liability of maintaining accurate payroll records and paying on time to the service provider and not on you. Intuit does have a Full Service Payroll Option like other 3rd party offerings, however Intuit's option does not support all State forms and they are priced on the high side. For this reason, if you are looking for a full payroll solution there are other better offerings available.
* Intuit has a per employee fee that ranges from $2.00 - $4.00 depending on how the employee is being paid (Check or Direct Deposit). They also cease providing tax table updates in the third year for the older QuickBooks versions. So if payroll is to be used, you will be required to upgrade QuickBooks to the current version to continue to use payroll.
A Better 3rd Party Full Payroll Solution
We have reviewed and worked with dozens of third party payroll services only to find that they have flaws that do not fit well with the industry, or they do not properly integrate into QuickBooks. This forces manual distribution through a Payroll Clearing Account and journal entries to properly allocate the payroll to proper accounts.
ADPrun is the best and most reliable solution we have found for all businesses under 50 employees.
Why Choose ADPrun ?
- Simple to Use
- Imports into QuickBooks better than any other on the market
- No more Required QuickBooks Upgrades*
- Very Cost Effective and Simple Pricing
- Print your own checks or have delivered
- Employee Portals, so their documents are always available
- No Hidden Fees
- Additional HR Tools can be added
We highly suggest you check out your options ... they are providing discounts that make this payroll service a great value, and very competitively priced.