What is Payroll in QuickBooks?
Ask any small accountant and CPA about which accounting task in their organization is challenging to manage. There are high chances that a majority of them will say ‘payroll accounting.’
Who Needs Payroll Software?
Anyone with a running business employing a workforce needs payroll software. You need it to keep a record of the financial data for filing company taxes. A payroll software solution has everything you need to automate the task of payroll processing.
What Does Payroll Software Do?
In simple words, payroll software will ensure that your employees are paid the right amount at the right time. Paying your employees is essential for their work motivation – a motivated workforce means that they will be productive and are expected to stay at the organization for longer.
This is where payroll software comes into the picture, and there’s no better alternative for small businesses than QuickBooks Payroll.
Benefits Offered by QuickBooks Payroll
QuickBooks is designed to simplify your QuickBooks Payroll Processing Time and automate the related tasks. Below are the benefits offered by it.
- Process Payroll
The time invested and hard work done pays off every time the payday comes. QuickBooks Payroll keeps the burden of remembering the payday away and reminds you when its time. The process is simple – you need to click through a series of screens.
If your company is not into job costing, you’ll just have to enter the number of working hours. However, QuickBooks Payroll can help you with job costing as well.
- Prepare Payroll Taxes
Preparing payroll taxes has to be done with great responsibility. It includes everything that can go wrong, including incorrect calculations, tax filing to the IRS, tight deadlines, local and state taxes, and much more. To solve such problems, QuickBooks Payroll offers three levels of payroll tax support.
In the Basic version, you’ll get guidance from Intuit but will have to prepare your tax documents by yourself. In the Enhanced version, state and federal forms will be completed automatically. Full service includes automatic tax calculation, filing, and payment.
- Organize Employee Information
Every business owner and accounting professional is aware of the huge pile of paperwork that has to be filled by new joiners. QuickBooks Payroll helps you gather all the relevant information that’s required for your organization and taxing authorities.
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