Have you ever had trouble running your business’s payroll or looking to get started with something that is a better fit? If you answered yes, you’re in the majority of business-owners and even employees. Payroll can be one of the most complicated internal services of a business – which is great seeing as it’s also one of the most important. Getting it right can be tricky but QuickBooks offers some great ways to help you make it easier.
Intuit offers three options – Basic, Enhanced, and Full Service. Each one has various tiered benefits that will help you to choose the option best suited for your company. This article will compare the two most popular options, Enhanced and Full Service – and show you which one might be right for your business.
Intuit Enhanced Payroll
Cost: $45 + $4/employee, paid monthly
Note: We are running a special right now that gives you 20% off for six months – bringing the cost down to $36 per month. If you are a QuickBooks Enterprise user, give us a call directly as we can add it on for as little as $22 per month no per employee fees!
The Enhanced Payroll package provides some pretty great benefits for the cost.
This package lets you:
•Pay W2 and 1099 employees
•Pay by check or direct deposit
•Electronically file W2s at year-end
•Provides federal and state tax forms
•Free expert help (via phone, chat, and email)
Enhanced will also help you e-file and make tax payments directly within QuickBooks. As this is linked to your QuickBooks Online or Desktop account, this process is nearly seamless.
Is this right for me? If your business manages accounting in QuickBooks with no issues, this might be the best option for you.
With Enhanced Payroll, QuickBooks will populate all tax forms for you, but it is your responsibility to file them. The system will also show you reminders of upcoming due dates to run payroll and deadlines for tax forms and payment deadlines.
Intuit Full Service Payroll
Cost: $109 + $4/employee, paid monthly
As with the Enhanced package, we are running a special here to save 20% for 12 months (instead of the 6 months offered in Enhanced), bringing the price down to $87.20 per month. Call for details!
The Full Service option is the real deal. It comes in at a higher price, but not without the features to support it. This option matches the service of the Enhanced but will file tax forms and make all payments for you. Your payroll system will be setup by Intuit and includes all year-end forms. All you have to do is provide the W-4 forms and other necessary information.
NOTE: Intuit assumes responsibility for these payments and filings, so you will never have to worry about penalties. Intuit will cover all interest and penalties assessed if the deadline is missed!
Is this right for me?
This package most definitely provides the value if you are looking for a full-service provider and are wanting to limit the time and energy that you invest in payroll related activities. This is very similar to services provided by third-party companies like ADP or Paychex just at a much lower price point. A huge bonus here above third party options is that the payroll integrates directly with QuickBooks. This only serves to make the package more valuable for you from a simplicity and efficiency standpoint.
Payroll needs vary from business to business and both the QuickBooks Enhanced and Full Service payroll options provide a great package for a variety of needs. If your business needs a full-bore solution to payroll, then the Full Service package is most likely the right option for you. If your business already has some pretty solid payroll processes in place and is just looking for some greater efficiency, the Enhanced package may be better suited for you.
If you are a current QuickBooks user, either option will pay off in the long run by generating time and money savings for your company, so consider the real business needs for your company and know that QuickBooks has an option for you. If you have questions or need help narrowing down your options, and finding the best fit, just give us a call at 866-949-7267 and somebody on our payroll team will consult with you at no cost.