Join Bonnie Biafore for an in-depth discussion in this video Choosing the right QuickBooks Payroll product, part of QuickBooks Payroll Essential Training.
- Once you decide to go with Intuit Payroll, your next step is deciding which payroll service meets your needs and budget. Intuit Payroll comes in three flavors: Basic, Enhanced, and Full Service. Let's take a quick look at the key differences. The Basic service is truly a do-it-yourself option. You set everything up to begin with. Then for each payroll you enter hours or wages for each employee. What the basic service does is calculate deductions and payroll taxes, and it produces reports with the info you need to fill out federal and state payroll tax forms.
You print paychecks or use direct deposit and submit your payroll tax forms and payments. Enhanced payroll is the most popular choice. It does most of the work and cost only a few dollars more than Basic. Enhanced payroll calculates deductions and payroll taxes like Basic does, but it also prepares your federal and state payroll tax forms. All you do is send them in and your payments, of course. If the tax agencies you answer to support electronic filing and payment, Enhanced payroll can help you file your tax forms and submit your payroll tax payments.
This service reminds you about payroll task to-dos and notifies you when payroll has been direct deposited, taxes have been paid, and tax agencies have accepted your payroll forms. The third option, Full Service payroll, is the one with the most features and you can see that by all the check marks in its column but it comes with a higher price. This service sets up payroll for you, files your payroll forms, and makes your federal and state payroll tax payments.
All you have to do is fill in hours or compensation for each payroll. Intuit guarantees that your payroll, payroll forms, and payroll tax payments are accurate and submitted on time, as long as you give them the correct data on time to begin with. Intuit offers desktop and online versions of each of these services. With the desktop payroll service, you prepare payroll from within QuickBooks so your payroll data is part of your company file. On the other hand, with Intuit online payroll, you can pay payroll anytime from anywhere and don't have to run QuickBooks to do it.
This course shows you how to run payroll in QuickBooks with the Intuit Basic Service. It shows you all the mechanics of setting up and running payroll without having to sign up for a subscription. Those are the big differences between Intuit payroll services. Basic payroll is the least expensive. Enhanced payroll does a lot at a reasonable price. But if you wanna minimize the time you spend on payroll, go with Full Service.
- Signing up for Intuit Payroll
- Working with the Setup Wizard
- Entering compensation and benefits items
- Setting up employees
- Defining payroll taxes
- Recording historical payroll data
- Running payroll
- Managing payroll liabilities