QuickBooks is one of the most popular accounting software programs on the market. It's used by millions of businesses all over the world to manage their finances. One of QuickBooks' most popular features is its ability to handle payroll taxes and other related tasks.
In this blog post, we will answer the question: does QuickBooks do payroll? We'll also provide a complete review of QuickBooks' payroll features, so you can decide if it's the right program for your business!
What Payroll Features Does QuickBooks Support?
QuickBooks is a full-service payroll solution that offers all the features you need to run your payroll, including direct deposit, tax filing, and employee self-service. It also has a mobile app, so you can manage your payroll on the go.
QuickBooks' payroll features are very comprehensive, and they're easy to use. You can use them to create reports that show how much each employee has been paid and how much tax you owe for each employee. You can also print checks for employees or have the check printed automatically by the system when it's time for them to be paid.
Does QuickBooks Do Payroll Taxes?
If you have employees, you need to know how much money to take out of their checks each week or month in order to pay them what they're owed while also covering your company's share of the payroll tax burden.
You also need to know how much money to send Uncle Sam every time you file a tax return. If you don't get this right, it's not just bad for your employees; it's bad for you too! That's where QuickBooks comes in.
QuickBooks can handle all of your business' payroll taxes. It will automatically calculate and withhold the appropriate taxes from your employees' paychecks, and it can even file and pay the taxes to the government on your behalf.
Does QuickBooks Online Do Payroll?
Yes, QuickBooks Online can handle all of your payroll needs. QuickBooks Online is a cloud-based accounting software program that offers all the same features as the desktop version of QuickBooks.
QuickBooks Online offers automatic payroll processing and tax filing, so you don't have to worry about doing payroll yourself. Your employees can also access their own information from anywhere using the mobile app.
What Payroll Features Does QuickBooks Support?
QuickBooks can handle many of the most important payroll functions for businesses of all sizes. Let’s briefly go over some of the best Payroll features of QuickBooks now so that you can determine whether or not these features would be useful for your accounting department.
Automatic Payroll Processing
One of the most popular features of QuickBooks is automatic payroll processing, which allows you to get your payroll done quickly and easily by setting up your employees' information before their paychecks are ready to be processed.
You can also set it up so that each paycheck includes deductions for things like union dues or life insurance, as well as any taxes that need to be withheld from the employee's paycheck.
The program also allows you to process time-off requests and approve them based on certain criteria (for example, if an employee has been with your company for more than one year). This ensures that all employees are accurately compensated for their work and helps prevent any misunderstandings between the accounting department and your employees.
Direct deposit is one of the best features of QuickBooks. In addition to saving you money on physical checks, direct deposit gives your employees the option to choose which bank they want to use for receiving their paycheck.
Direct deposit also allows employees who live outside of your company's office location to have their paycheck deposited directly into their own bank account, even if it is out of state or even out of the country! This feature is perfect for employees who work remotely or frequently travel for work purposes.
The best part about using direct deposit through QuickBooks is that there are no additional fees or charges associated with this feature; it's included as part of your subscription plan at no additional cost!
Tax time can be a real pain. But with QuickBooks, you can rest easy knowing that your tax obligations are always taken care of.
QuickBooks can automatically calculate the taxes owed to the IRS from your employee's paychecks. This means that you always stay compliant with the IRS and never have to worry about whether or not you're correctly calculating taxes for each employee.
QuickBooks can even submit those taxes on behalf of your company so that you don't need to worry about taxes at all. All you need to do is provide accurate tax information for each employee and let QuickBooks take care of the rest; it couldn't be any easier.
Custom Payroll Reports
Instead of having to go through a bunch of tedious steps in order to find out what you need to know about your payroll, why not let QuickBooks do it for you?
With Custom Payroll Reports from QuickBooks, you can get the information you want exactly when you need it. The best part is that it’s really easy to set up these reports. You can choose any number of criteria and then narrow down the results based on those criteria.
For example, let’s say that you want to know how much each employee has been paid over the last six months. You could set up a report with those filters and then have it sent straight to your email inbox every Friday at 4:00 PM.
QuickBooks allows you to print checks in a simple and easy way. The system can generate all the necessary information for each paycheck, including employee names, payment amounts, and deductions. All you have to do is enter your company name and logo, select the type of check you want to print, and click the “Print” button.
With this feature, you don't have to worry about how much money each employee should get, as QuickBooks will automatically calculate wages based on hours worked. It can even calculate things like overtime pay and vacation pay. You can also print multiple checks at once, which means that you won’t have to wait long if you have many employees.
Employee Self-Service Features
QuickBooks features a number of employee self-service features, which makes it easy for employees to update their own information and access data without having to go through IT. This enables your company to give employees more autonomy and flexibility while still maintaining control over sensitive data.
You can set up user permissions so that employees only have access to the data they need, such as information about past and upcoming paychecks, hours worked, and so on. You can also create custom reports that only certain groups can see with the custom report builder tool.
What Other Features are Included with QuickBooks?
QuickBooks was created to help small businesses succeed by giving them the tools they need to manage their finances. It does a great job of handling everything to do with payroll, but it also comes with many other features that make accounting easier for you and your business.
Some of the best additional features of QuickBooks include the following:
1. You can track your expenses easily and accurately with QuickBooks' expense tracker so that you always have a clear picture of your company's overall financial well-being.
2. When you buy something, you can track its purchase history and see how much it costs over time. This helps when it comes time to calculate depreciation and capital cost expenditures at tax time.
3. You can use QuickBooks' invoicing feature to send out invoices to customers or clients and keep track of payments received from them. This means you’ll always know how much money you are owed, and you can forecast your revenue accordingly.
4. You can create reports on any aspect of your business for analysis and planning purposes. This allows you to see the big picture when it comes to your company’s finances. You’ll always know where things stand when you create custom reports with QuickBooks.
How Much Does It Cost To Do Payroll Through QuickBooks?
The cost of using QuickBooks payroll services changes from time to time, so your best bet will be to check the current pricing on the QuickBooks website. That said, at the time of writing this article, QuickBooks offers three different plans for payroll services.
1. The Payroll Core Plan with QuickBooks Simple Start
This is the most basic payroll plan available with QuickBooks, and it allows you to perform the most basic payroll and accounting tasks, such as paying your team and sending invoices. The plan is currently $37.50 per month plus an additional $5 per month for each employee.
2. Payroll Core with QuickBooks Plus
This plan is a step up from the first plan and offers a number of additional features, including the ability to track your billable hours and pay bills online directly from within the QuickBooks dashboard. This plan is currently $65 per month plus an additional $5 per month for each employee.
3. Payroll Premium with QuickBooks Plus
This is currently the best payroll plan offered by QuickBooks. It included all of the tools available with the less expensive plans plus a number of additional features, including same-day pay, HR support, and custom payroll reports. This plan currently costs $80 per month plus an additional $5 per month for each employee.
Payroll is one of the most important parts of running a company, but it's also one of the most dreaded tasks. That's because it can take hours (or days!) to do everything properly and make sure every employee is paid exactly how they should be.
But with QuickBooks, you can pay employees quickly and accurately with just a few clicks of the mouse (or taps on your phone screen.) You won't need to worry about whether or not you've done everything correctly because QuickBooks will do everything for you!
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