Exciting improvements are coming to QuickBooks Payroll beginning March 1, 2020. Intuit has made some changes to the QuickBooks Online Payroll lineup. They are transitioning from two products (Enhanced and Full Service Payroll) to three products, with new and improved features that will allow you to run payroll automatically, use time tracking, and access a suite of HR and employee services.
New Product Names and Feature Highlights
QuickBooks Online Payroll Core
The version called Enhanced (Do it Yourself), will now be called QuickBooks Online Payroll Core. This is a more robust version of Enhanced. It will offer full-service payroll, including automated tax and forms, auto payroll for salaried employees on direct deposit, and access to health benefits for you and your team. The setup for this product is a self-guided setup with no assistance by Intuit.
QuickBooks Online Payroll Premium
The version called Full Service, which is when Intuit pays the taxes for you will now be called QuickBooks Online Payroll Premium. This is a more robust version of Full Service. It features premium time tracking by TSheets to run payroll faster and bill more, expert setup review to ensure your setup is done right, and access to Human Resource support center.
QuickBooks Online Payroll Elite
Elite is a new product that adds robust features to the full-service payroll such as Prioritized help when you need it. 1:1 HR advisors support that can help you create a handbook, Professional payroll setup done for you. It includes elite time tracking by TSheets which tracks project hours and labor expenses in real-time & GeoFence which alerts workers to clock in and out when on entering and leaving the job site. Tax-Free penalty guarantee by Intuit.
Here is an overview of how it will work:
Starting on or after March 1, 2020, all of the new features will be released into the existing products. Releasing the new features into the existing products will help make this transition as smooth as possible. There will be no disruption to your business processes and there will not be any data to transfer – all payroll history will be there. These updates will take effect after their billing date starting March 1, 2020.
For more information, check out these resources:
To learn more about all the payroll options for QuickBooks, both online edition, stand-alone and desktop. We are payroll experts and can help you navigate the options to help you select the best option. Have questions? Schedule a call to learn more.