If you ask accountants of companies that which is the thing that gives them trouble while maintaining accounts, most of them will say payroll. Payroll has always been a troublesome topic because it means paying employees. It not only requires precision but also you have to deal with it with accuracy with multiple taxing agencies, including the IRS.
If you are a small business owner, you are always looking for cheap ways to simplify your job. You must have heard about Intuit QuickBooks Payroll. QuickBooks Payroll is a software that has been specially developed for business owners like you. It is believed that the software eliminates the need for an account or payroll manager to save your money. However, is it really so easy? This post will reveal some advantages of using QuickBooks payroll. If you want to learn more before making a decision for yourself, continue reading. Here are top professionals and Opportunities of QuickBooks Payroll for small business owners.
Benefits Of QuickBooks Payroll
Intuit designed QuickBooks Payroll which enhances your understanding of the entire payroll process. It is so dynamically built that even an amateur can do payroll. It reduces your expenditure by decreasing the number of professionals in accountants.
Although QB covers a large number of good qualities which helps the small and large scale businesses in running their payroll. But here we discuss some of the major benefits which you get when you use it.
It Prepares and Submits Payroll Taxes
QB manually prepare reports and submit the correct amounts to the correct agencies. It is possible that a professional can do incorrect calculations, miss deadlines and penalties from various taxing agencies for recurring responsibilities that include FUTA(Federal Unemployment Tax) & SUTA(State Unemployment Tax), Medicare tax, and FICA(Federal Insurance Contributions Act), as well as state and local taxes.
You can choose from a variety of services like the filing of federal and state forms automatically and your taxes are electronically filed and paid. With this no need to worry about timely filings and late payment penalties. It assures you to do it on time.
It keeps Employees information Safe & Organised manner
You must be aware of this stressful activity which is keeping the whole information of your employees. It consumes lots of hours to maintain this record and after that run payroll for the employees. QB maintains all your employee’s information in one place. And by just entering the hours the payroll of the employees is done without any delay. You know that if you use QuickBooks Payroll you save around 15 hours of work in a month. And you can put this in other things.
It Tracks and Administers Company Benefits & Worker’s Compensation Insurance
If you use QB it definitely contributes to the generating profit for which any company works. If this thing goes right it attracts potential hires and contributes to overall job satisfaction. QuickBooks Payroll setup tools use a simple wizard to walk you through the process of entering all of the details required to define them. And also to keep up with timely payments to outside agencies.
Employees receive detailed pay stubs that spell out contributions made toward:
- Insurance (health, dental, life, Health Savings Account, etc)
- Paid time off
- Miscellaneous deductions (wage garnishment, union dues, charitable donations, etc)
It Assigns Employees’ Payroll & other necessary activities
QuickBooks initially enter information and then direct it to create the paychecks and job-cost assignments. You just have to enter the employees’ id or hours and it will run payroll for them. It is a very time-saving process. You can then choose to print paychecks on check stock to hand it over to employees.
It includes many things like payroll taxes, costs to jobs, job tasks, paychecks and pay stubs. If you want accurate job-cost reports and need to include employee payroll and related costs you can let this work done by QuickBooks Payroll Team.
It Processes Payroll Quickly & Accurately
QB assures its registered users that their payroll will be done with no-hassle delay and quickly. It also assures that the work will be done accurately. It also reminds you when it’s to pay employees and provides you with a clear, simple series of screens for running payroll. If you want to track job costs and tasks, you can do that as well.
QuickBooks Payroll provides a way to make your employees pay at the time required to pay. The software offers an incredibly user-friendly interface for two low price options. Unfortunately, the Internet does not provide any additional services that can find useful, such as HR support or retirement benefits. In addition, they have not recently received the best reviews from users like you. However, if you are looking for easy, easy-to-use payroll software and you are ready to wait for the reported software issues, Quickbooks payroll is an excellent option.
Read More :