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Payroll Management: The Ultimate Guide

Money movement services are brought to you by Intuit Payments Inc. subject to eligibility criteria, credit and application approval. Learn how to get set up, pay your team, find HR support and benefits, and sync with accounting so you can manage everything in one place. Retail clients deal directly with Intuit Online Payroll.

  • When you have more than a few employees, the payroll process becomes very difficult to manage on your own.
  • Explore all the employee services you can get with QuickBooks Payroll.
  • Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business.
  • Auditing the process can help you unlock new efficiencies or opportunities to teach your payroll team how to handle routine tasks or escalation issues better.
  • Guideline experts handle 401(k) administration, compliance, and recordkeeping, at no extra cost.
  • Payroll management is vital to the success of your business.

If you have employees who are paid on an hourly basis then you’ll likely want to use an automated time tracking system. Having employees fill out time cards manually isn’t reliable and could cost you money from time theft. You can increase efficiency and speed up the payroll process by using the right tools to track your employees’ time. From your overall process to every single pay period, it’s important to have documentation for everything. In the event that you happen to miss a payroll tax filing or you get audited, not having proper documentation can hurt your business. Payroll software will keep most of the required documentation for you without you having to worry about keeping track of anything manually.

Create and e-file unlimited 1099-MISC and 1099-NEC forms. If your employee is an independent contractor, we’ll help you create a 1099 to print or e-file. You can add client access when you set up a client, or you can add it from the Contract Information page. Jeff is a writer, founder, and small business expert that focuses on educating founders on the ins and outs of running their business. The most basic plan costs $59 per month per employee for up to 49 employees and goes down to $49 per month for each employee after that. QuickBooks Online Payroll works for small to midsize businesses—from accountants and financial experts to nonprofits, construction companies, and restaurants.

Explore all the employee services you can get with QuickBooks Payroll. Payroll management is one of the most important administrative functions of your entire organization. If done correctly, it will largely go unnoticed, but if done incorrectly it can make it impossible to stay in business. Have you come across a payroll term you’d like to learn more about? This tool lets you search and find answers quickly, and in many cases provides links you can use to dig deeper into the subject. Find help articles, video tutorials, and connect with other businesses in our online community.

You must be sure Social Security numbers, bank accounts and other secure data cannot be accessed, stolen or misused. Payroll software can be extremely affordable, costing from $40 per month plus $10 or less per employee. With all of the time, energy and potential liability involved in payroll, this is well worth the price. The largest benefit of manual processing is the cost, as you don’t have to buy any software or pay someone else to run payroll. However, if you calculate what your own time is worth and how long it takes to process payroll, you may find that you aren’t saving money.

What is the difference between salary and payroll?

Costs range from $40 per month and up plus additional fees per employee. Many companies will require you to contact them for a quote, as they will tailor their services for your unique needs. Terms, conditions, pricing, special features, and service and support options subject to change without notice.

  • Employees want to be paid on time and if you can’t manage payroll efficiently, then you could lose important members of your team and even have legal difficulties.
  • Select the accounting product your client uses below to reveal compatible payroll options.
  • The screenshot below is an example of a payday reminder that has been sent to both the accountant and the client.
  • Quick setup means employees can start saving for retirement right away.
  • Take a closer look at what comes with all our payroll plans so can simplify payday, retain top talent, and manage your team.

Payroll management encompasses the entire process of calculating employee hours, paying employees, withholding taxes and maintaining the financial documentation for your business. Great for both employers and employees, this tool helps calculate paychecks based on pay type, pay rate, bonus, commission, overtime, federal/state taxes and more. With Premium and Elite, experts will review your payroll setup so you’ll know it’s done right.

Payroll services that go beyond a paycheck

Whether you do your own setup, get some help, or have it done for you, QuickBooks makes payroll setup easier, giving you the confidence to know it’s done right. Set yourself up for success–eliminate tax penalties, choose how you pay your employees, and set up your own payroll system. We’ll help you stay compliant with our guided payroll setup. Our payroll experts are available to help you assist you along the way.

Visit our support hub

We’ll set up your payroll for you with QuickBooks Payroll Elite. With QuickBooks Payroll Premium, we’ll review your setup to make sure everything is correct. Clarify with your clients exactly which payroll tasks you expect them to perform and which you will perform. The screenshot below is an example of a payday reminder that has been sent to both the accountant and the client. Notice that the From Name is filled with your firm’s name. The Reply To field contains your email address, so that if your client replies to the email, it will be sent to you directly.

For Core and Premium, the service includes 1 state filing, additional states are $12 per state. There is no additional charge for multi-state tax filings in Elite. Whether your clients run payroll themselves or need help from the pros, find efficient solutions to help get the job done accurately. Select the accounting product your client uses below to reveal compatible payroll options. You’ll also want to make sure all of your employee information is secure so it can’t be accessed by employees or outsiders. The last thing you want is to allow secure employee information, such as salary amounts, into the hands of employees who then get frustrated with what they see.

Features

The Intuit Online Payroll name is not present in the email. Salary refers to the amount of pay earned by each individual employee. Payroll refers to the process or system used to calculate and pay the salaries of all employees. It is also a good idea to discuss payroll as part of onboarding new employees, so they know what to expect and who they can talk to if they have questions. It’s important that everyone involved in the payroll process is trained properly.

Why Managing Payroll Is Vital

With Elite, you’ll get additional levels of compliance with state and federal laws. Easily manage your client’s books by integrating accounting and payroll in one place. Spend more time advising and less time on payroll and workforce services with QuickBooks Online Payroll. Get payroll or bundle with accounting to help you manage your team and your business. Take a closer look at what comes with all our payroll plans so can simplify payday, retain top talent, and manage your team.

More time to do what pays

Whether you’re processing payroll manually or you’ve decided to manage it with the help of software, there are things you can do to improve your overall payroll management process. The cost of paying an employee to process this may wind up being more expensive than using another option. Get access to expert setup, tax penalty protection, and a personal HR advisor for your firm by adding QuickBooks Online Accountant. No matter which level of payroll service you choose, you’ll have a level of protection should you receive an IRS penalty. Depending on your plan, you’ll get direct deposits for either the next day or same day.

Manage payroll and access health benefits and HR support for your clients right from QuickBooks Online Payroll. It’s a good idea, no matter who is processing your payroll, to complete audits from time to time. You’ll want to make sure that the process is being global risk and regulation done correctly and that all of your tax filings are being processed and completed correctly. Auditing the process can help you unlock new efficiencies or opportunities to teach your payroll team how to handle routine tasks or escalation issues better.

Managing payroll can be done in a number of different ways. The entire process involves collecting employee data and inputting it correctly into a file or document. You’ll have to calculate each paycheck for every pay period, making sure taxes are calculated correctly. The last step is making sure both your employees and the appropriate government agencies are paid on time correctly. Employees want to be paid on time and if you can’t manage payroll efficiently, then you could lose important members of your team and even have legal difficulties.