Intuit QuickBooks Payroll Gives you Options: Choose the right one for you

Running payroll inside of QuickBooks or using a product that imports into QuickBooks are a very cost-effective way to pay your employees and be compliant. Integration reduces errors and saves time easing your entries into your checkbook.

All of the options presented, allow you to run your own payroll, print paychecks or pay with direct deposit. For both QuickBooks financial products: QuickBooks Online (QBO) and QuickBooks Desktop (QBDT) there are two options, and you have to decide if you want to make your own payroll tax payments as well as payroll tax filings or have Intuit pay your tax payments and file your payroll tax returns for you. Within the financial products, you can keep payroll confidential by selecting the proper login user permissions. Keep in mind there is a third option that is not integrated as it is a stand-alone payroll solution, but you have the option to import the data into all QuickBooks financial products, including QuickBooks Pro for MAC.

The benefits and limitations will be highlighted for each offering.

QUICKBOOKS ONLINE (QBO): Simple Start, Essentials & Plus Integrated Options:

QBO has limitations to be aware of: You have to make your decision about full-service payroll right away because you cannot upgrade from QB Enhanced to QB Full Service Payroll later. You cannot track job costing. QuickBooks Desktop Versions (Pro, Premier, Enterprise) allows you to do both.

In these two integrated options, you run the payroll checks, and the difference is who is paying the payroll tax payments, filing the quarterly and annual payroll tax returns.

  1. Do it yourself – Enhanced Payroll (Integrated)
  2. Done for you – QB Full-Service Payroll (Integrated)

QuickBooks Enhanced Payroll

This is a great choice for businesses that want to process their own payroll, and do their own e-file and e-pay federal, state taxes, quarterly and annual payroll tax returns including year-end processing of W2s.

QuickBooks Full Service Payroll (QBFSP)

Good for businesses that want to process their own payroll and have their taxes paid as well as their payroll tax returns filed for them. Intuit will e-file and e-pay federal, state taxes, quarterly and annual payroll tax returns including year-end processing of W2s. Free SETUP included!

  1. You can also pay contractors with direct deposit. This is our only payroll product that offers a 24-hour direct deposit for both payroll employees and contractors.
  2. You will have to file the 1096 and 1099s at year-end, it will not be done for you.

PLEASE NOTE: Your free SETUP by Intuit will save you large consulting fees usually associated with setting up a payroll from January 1st to current and allows you the flexibility of converting any time of year!

View the matrix for the different options here.

QUICKBOOKS DESKTOP SOFTWARE (QBDT): QuickBooks Pro, Premier, and Enterprise Editions

In these two integrated options, you run the payroll checks. It integrates directly into your desktop QuickBooks allowing you to allocate your hours in service to job costing, multi-level class tracking, and true P/L reporting. The only difference is who is paying the payroll tax payments, filing the quarterly and annual payroll tax returns. These options are not available in QuickBooks Pro for MAC.

  1. Do it yourself – Enhanced Payroll (Integrated) *
  2. Done for you – Assisted Payroll (Integrated)

QuickBooks Enhanced Payroll

For businesses that want to process their own payroll, and do their own e-file and e-pay federal, state taxes, quarterly and annual payroll tax returns including year-end processing of W2s. Please note, if you choose Enhanced payroll, you CAN upgrade to integrated QuickBooks Assisted Payroll later.

* QuickBooks Enterprise Gold – comes with Enhanced Payroll subscription, no need to buy separately. Learn more here.

QuickBooks Assisted Payroll

Good for businesses that want to process their own payroll and have their taxes paid and reports are done for them. Intuit will e-file, and e-pay federal, state taxes, quarterly as well as their payroll tax returns filed for them including year-end processing of W2s

Complete Business Group uses QuickBooks Assisted Payroll. Keep in mind, setting up payroll has certain steps that need to be done in order. Be prepared to hire us or a QuickBooks payroll expert to help you with the setup. We recommend doing this work in November/December to get it ready for the new year, or not too far in the new year.

View the matrix for the different options here

Payroll Options in Stand Alone Product – no QuickBooks necessary

This is the only stand-alone option that allows you to have the flexibility to run payroll only, while having the option exporting a data file to update your QBO, and ALL Versions of QuickBooks Desktop, including QuickBooks for MAC. It is the only option that allows you to also pay your subcontractors and files 1099s for you. This product cannot do Job costing.

Intuit Full Service Payroll (IFSP)

Great choice for businesses that want to process their own payroll and have their taxes paid and reports are done for them. Intuit will e-file and e-pay federal, state taxes, quarterly and annual payroll tax returns including year-end processing of W2s and 1099s. Free SETUP included!

PLEASE NOTE: Your free SETUP by Intuit will save you large consulting fees usually associated with setting up payroll from January 1st to current and allows you the flexibility of converting any time of year!

Learn more about Payroll

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