Payroll is always considered to be one of the most difficult and time-consuming responsibilities of the owners of small businesses. As there are always alterations in the tax codes and the ways in which they apply to businesses and employees.
Keeping up with the computations of taxes and withholdings, let alone preparing the paychecks in a timely and precise manner, can turn into a chore. When it comes to Payroll, QuickBooks Online offers a simple and efficient way of processing payroll, which can be linked with accounting.
In this blog, the author highlights the most crucial aspects of online payroll QuickBooks and how it enhances payroll processing for business owners.
Basic Payroll Services Offered
In its core usage, QuickBooks Online Payroll is capable of dealing with all basic aspects regarding payroll. It gives gross and net checks based on the pay rates per hour or salary while making deductions on the items on the payroll.
Payroll tracking in QuickBooks is integrated with accounting which makes it easier to track the payroll expenses. In a few minutes, it handles filing and paying payroll taxes for the business owner while keeping strict compliance checks.
The direct deposit options available will help the employees to be able to get to their money without much delay. It also generates paychecks/stubs and delivers them to employees.
Accurate Tax Calculations And Filings
However, a major drawback of in-house payroll is its inability to adapt to changes in legislation in respect to payroll taxes, reports, and W-2’s. This payroll software is integrated with QuickBooks for updates for federal state and local tax concerns that keep changing so the business owners needn’t bother.
The taxes are computed correctly every run depending on the input that is keyed in the columns provided for the employer and the employee. Moreover, it prepares and submits any required legal documents and tax information.
Lastly, QuickBooks has the feature of preparing and issuing employee W-2s at the year-end without much hassle. Thus, having such strong tax management features, business owners will not worry about their payroll taxes.
Real-Time Employee Self-Service Portal
QuickBooks online payroll self-service facility allows the employee to access his/her payroll information whenever needed. Using the portal, employees can update personal information, and election of tax and other deductions, direct deposits, apply for leave, and view pay stubs, W-2s, and other details.
Manager permissions allow system modifications with regard to employee records to be made since they have administrative control over the records.
Employers also stand to benefit in that they are also able to empower their employees in that they are now able to handle their own payroll issues. This relieves business administrators of the responsibility of performing basic changes.
Enterprise-Grade Security
It is impossible to overemphasize the importance of safeguarding sensitive employment payroll information, and QuickBooks Online features adequate security measures that can accommodate large companies.
Organization files and other information about each employee who has an account with Intuit has better protection through operational firewalls, data encryption, disaster recovery procedures, file backup, and security of data centers that contain the information.
With such enterprise level measures protecting the entire QuickBooks cloud structure, any business can sleep well at night knowing that their sensitive information for instance, will not fall into wrong hands.
Seamless Third-Party Integrations
While Intuit full service payroll is not a standalone product. In addition, it is also designed to bidirectional sync with QuickBooks accounting software with very high efficiency.
This connectivity assists in balancing the payroll expenses from the accounting car dashboard. But more beneficial are the third-party integrations that are supported as it include services that may not be widely known or popular.
QuickBooks Online Payroll flows credibly between POS systems, payment processors, time and attendance systems, benefits administrators, accounting firms, HR and software, and more.
Conclusion
QuickBooks online payroll provides an all-encompassing solution that includes the basic payroll services which include; accurate computerized calculations, payment of taxes, filing of taxes and much more.
The self-service portal, security protections and integration with third-party applications and services also expand its functionality for overall payroll processing, from end to end.
Thus, with QuickBooks taking care of the optimization and reliability of the process, handling periodic payroll does not have to be a hassle for scaling businesses.
