New and Improved Intuit Payroll Products

Payroll is one of those aspects of business that many are reluctant to change, but it’s worth evaluating from time to time especially since Intuit announced new offerings in late in 2019.   I have a chart comparing the products but wanted to give you some thoughts.

  1. Your Intuit payroll options are first determined by the version of QuickBooks you’re using – desktop or online, then by who handles the tax deposits and filings.
    1. Desktop payroll
      1. Enhanced (you do it all) – you can easily do direct deposit, e-pay and e-file
      2. Assisted (you create the paychecks, Intuit handles the state & federal tax filings)
      3. Full-service Payroll – You enter the hours (if they are hourly), Intuit handles the direct deposit, local, state & federal tax filings
    2. Online Payroll
      1. Core has replaced the Enhanced/Self-Service – there is no longer a Do-It-Yourself (DIY) option. Now the taxes are paid automatically and forms are filed as well.
      2. Premium (replaced Full Service for QBO). This now includes Core (see above), TSheets, access to an HR Center and an option for expert review in getting setup.
      3. Elite (new) – Elite QBO Payroll includes Premium (see above), plus Elite onboarding, TSheets Elite (includes geofencing), access to an HR Advisor, and the ability to job cost by project (if you use TSheets Elite)
  2. If you are using an add-on product for time-tracking, which versions of QuickBooks are compatible?
  3. Next, do you need to job cost your labor?
    1.  If you do, the best products are the desktop’s Enhanced or Assisted Payroll; they both can job cost by task and Class.
    2. If you are in QB Online AND you use TSheets, is job costing to the project is sufficient?  You also currently can’t use Class tracking so comparing labor costs between divisions may take more work.
    3. If you use an add-on product other than TSheets for time-tracking, you won’t be able to take advantage of the QBO Projects for job costing labor.
      1. Most of my clients using add-on products are using industry-specific apps which do so much more for them, so moving to TSheets is usually not a good option.
      2. Most of my clients who move from QB Online to QB Desktop do so for job costing labor (and more job cost reports).
  4. Decide who will handle the payroll tax payments and tax filings.
    1. If you’re new to QuickBooks, sometimes letting Intuit handle the tax portion while you get acclimated to QuickBooks makes sense.   Then later you can choose to do more of the payroll once you’re up and running and comfortable.
    2.  While I have many clients who are competent and can certainly handle payroll, I find some would be better off doing another aspect of the business. Payroll can be a time-consuming task and mistakes can be costly.
    3. 40% of small businesses pay about $850 (many much higher) each year, so you could quickly wipe out any savings from doing it yourself.  Intuit promises error-free tax filing and having Intuit handle your payroll can also help prevent fraud. Having that extra layer of protection can be worthwhile for many businesses.

If you decide to make a change with your payroll set up or want to price out your options, let us know.  As an Elite QuickBooks Solution Provider, I am able to get special pricing for my clients (Including lifetime discounts in some cases), help you select the payroll option best for your situation, and assist with setup and training if needed.

  1. This new improved payroll is very important for businesses that unwilling to change. Those points which you have mentioned in this article are very useful. Thanks for sharing this with us.

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