This is the time of year when many businesses evaluate their current payroll setup. So let me highlight one of the Intuit payroll services, Assisted Payroll, and explain why I like it.
You basically have 3 choices when doing payroll. You can do it all in-house, you can outsource all of it, or you can create the paychecks and let someone else (Intuit in this case) handle the payroll taxes and filings.
The benefits of processing in-house include:
- No extra fees for adding employees.
- All your payroll reports are inside of QuickBooks – you don’t need to look through a big notebook or a CD or review various downloaded reports. There’s no extra fee for your reports either. Some requested reports are extra when you outsource.
- Job/project costing (outsourced payroll charges more and you still can’t job cost at the same level QuickBooks can)
- In terms of direct dollars, this is the least expensive.
When you outsource, you free up some time and someone else worries about the setup, taxes, etc. But you still have to pay attention – they make mistakes, too.
With Assisted Payroll, you get the benefits of both
- You process inside of QuickBooks and Assisted is just a couple clicks away after you’ve created your paychecks
- You have all your payroll reports handy and inside of QuickBooks.
- You get more accurate job/project costing numbers
- You have access to Intuit payroll specialists so if you need help with a new hire, new benefit, etc., they will assist at no extra charge.
- And Intuit takes care of the tax filings (tax deposits and reports). This is usually one of the more challenging aspects of payroll – especially when you have different states and schedules. It also frees your employee to do other work. Few businesses really take a look at how much time is spent on the tax filings and how much they are paying the employee or contractor.
So as you might expect, Assisted Payroll costs more than Enhanced Payroll, but is much less than outsourcing all your payroll tasks. There are a few factors that determine the cost such as number of employees, number of states, frequency of payroll, etc. But my clients who use it are very happy. In fact one was sorry she didn’t sign up with it sooner as she made late payments when she did it all herself and had to pay penalties and interest. And you may actually become more productive because the person processing payroll will have additional time to work on some other task, which is often more cost effective for you.
If you would like to learn more, call my office or send an email. If you would like to sign up, contact me. As an Intuit Solution Provider, I have access to special pricings and offers, so you wouldn’t want to miss out on those!