Dec 12th 2012
Are you tired of trying to import third party, such as Paychex or ADP, payroll into your client's QuickBooks file?
Have you had clients make payroll errors that have resulted in penalties and interest?
Are you spending too much time troubleshooting client payroll?
A perfect solution is Intuit Full Service Payroll (IFSP).
This payroll service integrates beautifully with QuickBooks Online as well as QuickBooks Pro/Premier/Enterprise, and Mac, so there are no cumbersome journal entries to try to edit into the accounting software. Plus, the process to get payroll INTO that accounting software is automatic. There is a Sync Manager that allows for automatic import. Each paycheck (whether manual or direct deposit) or liability payment is exported as a check - rather than one journal entry - so reconciliation is simple and transactions can be found quickly. Check details, such as gross pay, taxes and deductions are seamlessly transferred into the QuickBooks general ledger.
Common payroll mistakes are miscalculations of tax rates, or forgetting to send in a payment or file a return. Before I started my own business as a QuickBooks Consultant, my boss' wife forgot to pay over $100,000.00 in payroll taxes one month! Intuit Full Service Payroll will eliminate both of these issues - tax rates are always up to date and all the liability and form filings are 100% guaranteed by Intuit. I'll say that again . . . all the liability and form filings are 100% guaranteed by Intuit1. Peace of mind comes free with the offering!
Another advantage of IFSP is that Intuit has dedicated payroll specialists that will not only do the setup, but verify employee social security numbers and the company's state and federal ID numbers, and they'll work with the previous payroll provider to get historical data entered in properly. All that and free support! I can personally say that I've never had to call for help with any of Intuit's online payroll solutions. They have a chat help that is outstanding.
To process a payroll, all that needs to be done is enter the hours into the IFSP website, approve the checks and click import.
IFSP even has a few cool features to make sure the hours entered are correct. The screen shot below shows that someone has entered 350 hours, rather than 35. The blue "i" icon next to the hours indicates a warning; hovering over it shows the message that the hours are significantly different than previous paychecks.
Pricing is even easy: $99 per month, plus $2 per employee. So a company with 5 employees would only be paying $109/month to process payroll - as many times as needed. The first YEAR is free too - if referred by an accountant, then it's only $75 per month. Those cats at Intuit are crazy with the good deals!
When you combine IFSP with my favorite/most used app on my phone, the Intuit Online Payroll Mobile app, you and your clients are hitting 3 key things that a company should look for in a payroll service:
- Included tax management that reduces errors
- Online service allows for significant time savings
- Great customer service
The benefits of IFSP are huge - easy setup, guaranteed tax payments and form filings, seamless integration with QuickBooks products - my beloved Online Payroll Mobile app - all make the service well worth the cost. Even if the savings wasn't over $450 (this was what a client and I figured she would save) a year vs. other providers, the peace of mind knowing that paychecks and liabilities will be error free and the time saved by not having to edit an incoming journal entry (not to mention trying to reconcile it!) or manually enter the data makes IFSP well worth the price!
1 Tax Payments and Filings Guarantee: We assume responsibility for federal and state payroll filings and payments directly from your account(s) based on the data you supply. As long as the information you provide us is correct and on time, and you have sufficient funds in your account, we'll file your tax forms and payments accurately and on time or we'll pay the resulting payroll tax penalties. Guarantee terms and conditions are subject to change at any time without notice.
Accurate paychecks: We assume responsibility for paychecks based on the data you supply. As long as the information you provide us is accurate and on time, we guarantee that your paychecks will be accurate and on time - or we will give you the next monthly payroll fee for free and we will pay, if any, resulting bank fees. Inaccurate paycheck(s) claims must be submitted to Intuit within forty-five (45) days of the applicable pay date. Guarantee terms and conditions are subject to change at any time without notice.