All About QuickBooks Payroll Pricing, Benefits, and Setup
Payroll management is one of the most crucial tasks that need equal attention as any other task. Regardless of the size of your business, keeping payroll processes in place ensures consistent business growth. There are several applications that let users manage their payroll processes, and QuickBooks is a top-notch program in this list. The program offers leading payroll solutions to small and mid-sized businesses and ensures effortless compliance while handling different business tasks.
We at QuickBooksupportnet empower your business with the most advanced technology and swift assistance so that you can enjoy a seamless payroll experience.
The Most Applauded QuickBooks Payroll Benefits
QuickBooks offers the best payroll solutions to users so that they can handle their core tasks easily, enhance accuracy, and remain compliant with the regulatory authorities. Users praise the product for its incredible benefits. Some of the most acknowledged advantages of QuickBooks Payroll solution are:
1: Efficient Payroll Workflow
QuickBooks Payroll gathers the important information required by the tax authorities and the firm itself. It can automate the tasks that are repetitive in nature and thus reduce your time and effort in managing tiresome admin tasks. Also, it keeps the need for manual number crunching at bay, thereby enabling you to work proactively in the important areas of your business growth.
2: Payroll Taxes Simplified
You can prepare payroll taxes with great ease while ensuring that everything is correct and deadlines are met. The correct tax calculation and filing is a crucial task, and with payroll tax support, you can handle your taxes efficiently. Above all, the Assisted or Full-service payroll from QuickBooks can automate your tax preparation, filing, and payment processes.
3: Improved Record Accuracy
QuickBooks Payroll Online ensures the accuracy of the records and prevents discrepancies in your payroll system. Besides, it also helps in correct tax calculations and filing. Inaccurate information can lead to various issues, such as miscalculations, late payments, and several others. However, QuickBooks Payroll can mitigate this risk to a great extent and prevent you from annoying hindrances.
4: Intuitive Record-Keeping
Keeping your payroll records accurate is one of the important competencies of your business. The payroll solution from QuickBooks tracks and records the information related to the employees and taxes and thus reduces payroll errors. The systematic record-keeping makes year-end less stressful. Moreover, you don’t need to create a heap of paper records when the tools record everything for you.
5: Payroll Compliance Ensured
When calculating taxes, you need to be aware of the latest state and federal tax rates. Intuit’s payroll software, when updated to the latest release, gives the latest tax rates for accurate tax calculations, keeping the filing and payments compliant with state and federal regulations. Furthermore, it has built-in Single Touch Payroll and awards to keep you compliant.
6: Satisfied Employees
The tool lets you manage your employees and make them accurate payments, and that too in a timely manner. Employees are provided with their own portal where they can see all the information related to their work, thereby enabling the utmost transparency. When your employees are satisfied, they work with enhanced efficiency and become a true asset for your business.
QuickBooks Payroll Pricing Plans
QuickBooks Payroll offers different pricing plans, with QuickBooks Payroll Core ($45 per month, plus $6 per employee) as the most basic plan. As your payroll processes get more complex, you can choose advanced plans, such as Premium or Elite. With the increase in the QuickBooks Payroll cost, you will find great reciprocating value for the product. These pricing plans are:
Payroll Core For QuickBooks
Payroll Core is the most basic payroll plan you can access at $45/month. Additionally, you will have to pay an additional $6 per employee per month in this plan. It offers a comprehensive payroll solution, including next-day direct deposit and health benefits.
Payroll Premium For QuickBooks
Premium is an intermediate plan that comes for $80/month. To add users, you will have to pay the cost of QuickBooks payroll, which is $8 per employee per month. It has some additional features, such as same-day direct deposit, time tracking, worker’s comp, and an HR support center.
Payroll Elite For QuickBooks
Elite is the most advanced payroll pricing plan from QuickBooks that will cost you $125 per month and $10 per employee per month. In addition to the advanced payroll features, you can access a dedicated HR advisor to handle your human resource management processes.
QuickBooks Payroll Pricing Table
The following box has an explanation for different QuickBooks Payroll pricing plans and their features. Take a look:
Core QuickBooks | Premium QuickBooks | Elite QuickBooks | |
Core | Premium | Elite | |
Price | $45/month + $8/employee/month | $80/month + $8/employee/month | $125/month + $10/employee/monthstrong>Elite |
Highlights |
|
|
|
Support |
|
|
|
1099 E-file | NO | Yes | Yes |
Time tracking | NO | Yes | Yes |
Dedicated HR advisor | NO | NO | Yes |
Get QuickBooks Payroll Core Vs Premium Plan Vs Elite
The payroll pricing plans in QuickBooks are designed for different levels of payroll requirements, and the pricing is adjusted accordingly. If you are wondering which is the best plan you can choose from, then comparing the plans and their features will help you with your quest.
QuickBooks Payroll Core is the most basic plan that has all the core features needed to handle your payroll processes. As you go up, the Premium Plan provides a few additional features, such as 1099 E-file and time tracking, that can take your processes to the next level. The Payroll Elite introduces a dedicated HR advisor to look into your employee management. You can consult with your team and choose a suitable plan for its deployment and utilization.
Best Place To Buy QuickBooks Payroll
Wondering where to buy the right QuickBooks Payroll solution for your business? You can visit Intuit’s official website to compare different payroll plans and buy them. You can get up to 50% discount on your payroll product purchase by paying a three-month subscription fee at once. Alternatively, you can use the product for a trial period of 30 days to determine if the QuickBooks Payroll solution is working well for your business or not. However, using the trial period will make the discount offer void.
If you are already using the QuickBooks application, you can simply add QuickBooks payroll and get started. QuickBooks Online users can log into their account and add a payroll option. Alternatively, you can contact QuickBooks Payroll to learn more ways to activate payroll in QuickBooks Desktop or the Online version of your accounting software.
Getting Started With QuickBooks Online Payroll
Once you buy QuickBooks Payroll for your business, you need to set it up to match your business needs. You can make the most out of your investment by aligning the tool with your day-to-day payroll tasks. Accomplishing the QuickBooks Payroll setup requires you to follow a few simple steps as explained below:
Start The Payroll Setup Procedure
First things first, you need to make a QuickBooks Payroll login as an admin user to start the setup procedure. You will have to provide all the prompted information, such as business address, contact info, payroll history, etc.
Add The Team You Want To Manage
After completing the setup process, you can add your team by entering their information. You may also invite your employees through QuickBooks Workforce to add some of their information.
Provide Your Tax Information
After providing your employee’s information, enter your federal and provincial tax information in the QuickBooks Payroll solution. It may include your company details, such as its legal name and legal address, forms used for taxes, and frequency of employee tax payments.
Connect Your Bank and Credit Card Accounts
Thereafter, you will have to connect your bank account to QuickBooks payroll to enable the direct deposit feature. Also, it will help you pay and file your payroll taxes. It is super easy to connect banks in QuickBooks, thereby enabling direct deposits right away.
Add Your Payroll History
In the end, you can enter year-to-date paycheck information used to pay your employees this year. Make sure to enter this information correctly, as it will be used to report wages on different tax forms. It includes pay stubs or payroll reports for each employee paid in this calendar year and payroll reports.
How To Cancel QuickBooks Payroll Subscription?
There can be a number of possibilities wherein you no longer need QuickBooks Payroll service and, therefore, want to cancel its subscription. Payroll is a monthly subscription service in the QuickBooks program, and you are not restricted to any long-term use of the product. Therefore, you can cancel QuickBooks Payroll subscription anytime you want with a few simple steps.
You will have to log into QuickBooks as an administrator. It enables you to make crucial changes in the program. Thereafter:
- Make sure that there is no half-done activity in your payroll software. If so, finish it before you move ahead.
- Go to the Choose Billing Subscription option in QuickBooks Online and select the Payroll
- When you see the payroll plan you are currently using, move ahead with the cancellation process.
- When in the Settings section, select the Account and Settings
- Now move to the Payroll tab and click the Cancel your subscription now
- Before finally canceling, you need to take a short survey with brief descriptions.
- Once done with the survey, click Cancel Payroll Service.
If You Are A QuickBooks Desktop User:
- QuickBooks Desktop users can cancel their QuickBooks Payroll Subscription via the company file.
- When in QuickBooks Desktop, go to the Employees drop-down menu.
- Next, select My Payroll Service and then Account/Billing info.
- Now, after selecting Cancel Service, follow the on-screen instructions to finish the task.
When you cancel your QuickBooks Payroll service, it will affect your taxes as well. To understand the impact of this cancellation on your taxes, you can simply contact QuickBooks Payroll helpline number and get your queries answered.
Some Best Alternatives To QuickBooks Payroll Service
Paychex
Paychex is also one of the most preferred alternatives for QuickBooks Desktop Payroll, which will cost you $39/month plus $5/employee. Its free business tax credit claiming services are excellent features of the program. In addition to this, the HR documents database and new-hire reporting compliance are some other features you can access by subscribing to this monthly payroll service.
Gusto
Gusto Payroll starts at a monthly fee of $40 plus an additional cost of $6 per user per month. With this payroll solution, you can run unlimited payrolls and create paperless checks. It enables smooth employee management and alerts you about labor law compliances. HR functionality and flexible payment schedules are also some of its applauded features.
Zoho Books
Zoho Books is also an all-inclusive payroll solution that helps users track the wages they pay and the taxes they deposit. Besides, it also saves you time for manual entry after every pay run by recording them automatically. Furthermore, you can send out pay slips and manage all other important competencies related to your payroll processes after setting them up correctly.
Wave Accounting
Wave Payroll is also popularly used as an alternative to the QuickBooks payroll solution, with monthly base fees of $40 and $6 per user per month. It’s a cloud-based application that allows small businesses to manage their invoicing, payments, and receipt management. Additionally, you can deposit salaries directly to the employee’s account, and they can easily see their pay stubs.
QuickBooks Payroll Customer Service
QuickBooks Payroll has proven to be beneficial for businesses by absorbing all their payroll burdens and letting them run their processes freely. Moreover, it also protects the users against tax penalties. However, there are several instances when you may feel stuck, such as while installing the program or running the processes. Here, you can connect with the QuickBooks payroll phone number and get the help you want. Learn more about the plans and pricing, get your payroll requirements assessed, and choose the best QuickBooks Payroll solution.
Frequently Asked Questions (FAQ’s)
Ans: If you want to run payroll without a subscription, you can set it up manually in the QuickBooks Desktop application. After setting payroll manually, you can track it from within the application. When setting up manual payroll, you will have to calculate and enter your payroll taxes and file your tax forms all by yourself. On the other hand, QuickBooks Payroll subscription makes it easier for you so that you can focus on other areas of your growth.
Ans: QuickBooks Payroll Service Key is a 16-digit number that allows you to activate the payroll product by entering it into the QuickBooks file. To retrieve the lost QuickBooks Payroll service key, you will have to make Intuit QuickBooks payroll login in the first place. Thereafter, you can move to the Payroll Subscription option from the Products and Services menu. Follow the on-screen prompts for the retrieval of your QuickBooks Payroll Subscription Number.
Ans: Yes! If you need only the payroll feature, you can have a suitable QuickBooks Payroll service (Core, Premium, or Elite) without needing to subscribe to QuickBooks Online software subscription. Thus, you can manage clients that need only payroll service on the QuickBooks platform.
Ans: There are different types of QuickBooks voucher checks for businesses that are secure and can reduce fraud. You can print basic voucher checks from within the QuickBooks application with ease. In addition, Secure Plus Voucher Checks and Secure Premier Voucher Checks come with 23 and 29 security features, respectively. Moreover, there are several other checks you can print, such as Standard Checks, Wallet Checks, Manual Checks, etc.
Ans: Yes! QuickBooks Payroll allows you to record retirement plans. You can check out the affordable 401(k) plans from the Benefits tab. Moreover, the QuickBooks Payroll advance solution allows your employees to contribute to more than one retirement plan at a time.