As threads are essential to knit a piece of cloth, in the same way, employees are essential for any company. Employees are the most important pillars of any organization. And it is the responsibility of that company to create the best working environment for their employees. So, one of the most important tasks thus is the processing of their payroll. Employees need to feel secure about their finances and remunerations. So companies need to pay them consistently without delays. A proper Payroll system boosts the morale of employees and increases the reputation and stability of a company. Here we are giving you a complete review of QuickBooks Payroll 2020 accounting software:
QuickBooks offers an add-on solution for payroll that allows the user to easily pay their employees. Step-by-step guidance is also available for how to process payroll. You can easily print paychecks or use the free direct deposit portal by your system. The program automatically calculates employee earnings, payroll taxes, and deductions. It automatically updates the state payroll tax updates and works accordingly and the user can always ensure that the taxes are paid on time.
Hence hours of manual work are eliminated and the results are more effective and efficient. All your information and payroll data are secured with a username and password which make the user feel completely safe. A track is kept and alters are given as to when to file the tax forms and Email reminders are also available for many work.
QuickBooks payroll online
QuickBooks online payroll offers 3 different types of Payroll with different charging schemes. If you prefer the 50% off-plan you will also get 50% off in add-on Payroll charges or you can get 30 days free trial.
Payroll Core
This covers all the basic features to get a simple, reliable automated payroll designed. Its basic curation is for small teams.
Features of Payroll core-
- Auto payroll: You just need to set up the payroll once and it will be done automatically in the future. You can always customize and make changes like adding bonuses and commission. You just need to review and approve before sending the paychecks.
- Compare plans for affordable coverage: You can select whatever fits your needs and budget. A lot of time is saved by a 3 step application feature and you can manage all benefits in one place.
- Expert product support: Experts are available to solve all your product-related queries. You can contact them via call or chat. And get a step by step assistance, tips, and resources.
- Next-day direct deposit: Keep your employees happy by providing a fast deposit service. You just have to submit the payroll a day before payday. And funds will be withdrawn the employees get paid.
Cost of Payroll core
Payroll core charges you $45 each month and in addition to that $4 for each employee per month.
Payroll Premium
This includes all the features of payroll core but this provides you additional features that are better and make your workload even less.
Features of Payroll Premium
- Same day direct deposit: You can keep the money for other important use until payday. The money is directly deposited on the payday itself and there are no additional charges for that.
- HR support center: You can learn the best practices of hiring, performance, and termination. And all your payroll activities will link with the laws which will create no legal problems in the future.
- Expert set up review: Now you are assured that your payroll is completely right as experts will review your work and your mistakes can be removed. There is full support of the experts in making your payroll up to mark.
- Track time on the go: Now you can review, edit, and approve employee hours with QuickBooks and workers can coordinate from anywhere from any device. With a mobile app.
Cost of Payroll Premium
Payroll Premium charges you $75 each month and in addition to that $8 for each employee per month.
Payroll Elite
It is the newest and the most advanced payroll QuickBooks online offers you. This offers you all the features of payroll core and payroll premier and also has the additional features and tools which are best for payroll.
Features of Payroll Elite-
- Tax penalty protection: This is the most amazing feature of payroll Elite you don’t need to pay your tax penalty up to $25000 per year and our team will also help you fix any of your issues related to tax filing.
- Professional Payroll setup: You can relax because now your payroll setup is under the hands of experts US advisors and specialists are there to answer any of your queries via phone.
- 24/7 expert product support: Experts are available for you at all hours on all days of the week and they will solve all your problems and issues via phone or chat.
- Personal HR advisor: You get your personal advisor who will talk to you personally and give all his attention to you and your problem. With my personal guidance, all your critical HR issues will solve in no time. You get custom-made handbooks too.
Cost of Payroll Elite
Payroll Elite charges you $125 each month and in addition to that $10 each employee per month.
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QuickBooks payroll desktop
QuickBooks payroll desktop also offers you 3 different types of payroll systems which are Basic, enhanced, and with guidance (full service). All of these calculate taxes and create payrolls
Basic payroll
This payroll service is best for those who just want to create paychecks, calculate payroll taxes, and send direct deposits. This is only useful when businesses know how to create their own payroll tax forms and know how to send their own payroll taxes.
Features of Basic payroll
- Create paychecks: It calculates gross pay for all the employees whether they are on a temporary or permanent basis based on hours worked.
- Direct deposit: No additional charges for direct deposit of payments.
- View pay stubs online: Thorough online portal employees can access to view and print their own pay stubs.
- Employee benefits: It calculates and tracks deductions for insurance benefits and retirement plans of the employees to maximize their benefit.
- Payroll tax reports: It generates detailed reports for federal and state payroll taxes according to the legal terms which create no legal liabilities in the future.
- Payroll tax forms: Federal and state payroll tax forms outside of QuickBooks can be prepared not in basic payroll. It does not include tax forms like Enhanced and Assisted payroll to do.
- E-pay: Arrange tax payments taxes outside of QuickBooks. Enhanced and Assisted payroll plans to have much more details and benefits than basic payroll doesn’t have.
Cost of Payroll Basic
Payroll Basic charges you $29 each month and in addition to that $2 for each employee per month. But if you go and purchase it now you will get 20% off for 6 months. Which cuts off the cost to $23.20 each month.
Enhanced Payroll
This provides complete payroll features for businesses who want all their payroll stuff in your hand. It creates paychecks, calculates payroll taxes, and sends direct deposits. This also prepares and e-files federal and state tax forms such as 940, 941, and W-2. Enhanced Payroll can deposit your taxes electronically.
Features of Enhanced Payroll
It includes all the feature of basic payroll but it is also enhanced with more efficient features as-
- Payroll tax reports: Detailed reports for federal and state payroll taxes are created. No legal liabilities in the future.
- Payroll tax forms: E-file federal and state payroll tax forms such as 940, 941, W-2, and 1099-MISC are prepared.
- E-pay: Electronic payment of federal and state payroll tax deposits is possible.
- Free payroll tax e-File & e-Pay: Electronic files and payments are done free of cost.
Cost of Payroll Enhanced
Payroll Enhanced charges you $45 each month and in addition to that $2 for each employee per month. But if you go and purchase it now you will get 20% off for 6 months. Which cuts off the cost to $36 each month.
Assisted Payroll
This provides a full-service payroll service to small businesses that prefer to do the outsourcing of payroll services. This is the best payroll service by intuit QuickBooks all their activities have accuracy and the best feature is that they are on time and no penalties.
Features of Assisted Payroll
- Payroll setup: The top class accountants of QuickBooks prepare charts of accounts, and reports for you in no time.
- No-Penalty guarantee: The best feature is that now you don’t have to pay your penalties because the no-penalty guarantee comes with Assisted Full Service Payroll. They guarantee to prepare payroll tax forms accurately and fill them on time.
- Supports up to 250 employees: This supports a large number of employees which is not done by payroll basic or payroll enhanced.
- Other features: It provides you other important features such as job costing and class tracking.
Cost of Payroll Assisted
Payroll Assisted charges you $109 each month and in addition to that $2 for each employee per month. But if you go and purchase it now you will get 50% off for 12 months. Which cuts off the cost to $54.50 each month.
We hope that now you are aware and well versed with the features and cost of QuickBooks Payroll 2020. And totally ready to take the advantage of the best Payroll services provided to you.