Simplify Payroll for Contractors with QuickBooks Assisted Payroll: A Comprehensive Guide

Managing payroll for contractors can be a complex task for businesses, especially those with varying pay rates and project-based work. QuickBooks Assisted Payroll offers a solution tailored to the needs of contractors, providing easy payroll processing and compliance with tax regulations. 

In this post, we’ll explore the key features of QuickBooks Assisted Payroll for contractors and how it is included in QuickBooks Enterprise Diamond for just $1 per payroll per employee.

Overview of QuickBooks Assisted Payroll

QuickBooks Assisted Payroll is a comprehensive payroll solution designed to simplify payroll processing for businesses of all sizes. With Assisted Payroll, businesses can outsource their payroll tasks to QuickBooks experts, ensuring accuracy and compliance with tax regulations. The software handles payroll calculations, tax filings, and payments, allowing businesses to focus on their core operations.

QuickBooks Desktop is a great step up from Enhanced Payroll because the QuickBooks team will handle all of your tax filings for you. Learn how QuickBooks Assisted Payroll differs from Enhanced Payroll or see the main differences in the table below. 

Differences between Enhanced Payroll and Assisted Payroll

Top 5 Features of QuickBooks Assisted Payroll for Contractors

1. Contractor Payment Management

QuickBooks Assisted Payroll makes it easy for businesses to manage payments for contractors. The software allows businesses to set up contractor profiles, enter contract terms, and track payments for each project or assignment. This feature ensures accurate and timely payments to contractors, helping businesses maintain positive relationships and compliance with contract terms.

2. Flexible Payroll Processing

Assisted Payroll offers flexible payroll processing options tailored to the needs of contractors. Businesses can set up multiple pay rates for different projects or tasks, ensuring accurate payment calculations based on hours worked or project milestones. This flexibility allows businesses to adapt to changing contractor needs and project requirements, ensuring fair and accurate compensation.

3. Tax Compliance

One of the most significant advantages of QuickBooks Assisted Payroll is its built-in tax compliance features. The software automatically calculates payroll taxes for contractors, including federal and state income taxes, Social Security, and Medicare contributions. Additionally, Assisted Payroll handles tax filings and payments on behalf of businesses, ensuring compliance with tax regulations and avoiding penalties.

4. Time Tracking Integration

QuickBooks Assisted Payroll seamlessly integrates with time tracking software, allowing businesses to track contractor hours accurately. By syncing time tracking data with Assisted Payroll, businesses can automate payroll calculations based on hours worked, ensuring accurate and timely payments to contractors. This integration streamlines the payroll process, reduces manual data entry errors, and improves overall efficiency.

5. Reporting and Analytics

Assisted Payroll provides robust reporting and analytics tools that allow businesses to gain insights into their contractor payroll data. The software generates detailed reports on contractor payments, tax liabilities, and project costs, helping businesses make informed decisions and improve financial management. With customizable reporting options, businesses can analyze contractor payroll data from various perspectives and identify areas for improvement.

Inclusion in QuickBooks Enterprise Diamond

QuickBooks Assisted Payroll is included in QuickBooks Enterprise Diamond, Intuit’s most comprehensive payroll solution for businesses. For just $1 per payroll per employee, businesses can access all the features of Assisted Payroll, along with additional benefits such as advanced inventory management, enhanced reporting, and priority customer support. QuickBooks Enterprise Diamond offers excellent value for businesses looking to streamline their operations and maximize efficiency.

Conclusion

QuickBooks Assisted Payroll is an invaluable tool for businesses that rely on contractors for project-based work. With its contractor payment management, flexible payroll processing, tax compliance, time tracking integration, and robust reporting features, Assisted Payroll provides businesses with everything they need to manage contractor payroll effectively.

Additionally, with its inclusion in QuickBooks Enterprise Diamond for just $1 per payroll per employee, businesses can access all the benefits of Assisted Payroll at an affordable price. If you’re looking to simplify contractor payroll and ensure compliance with tax regulations, QuickBooks Assisted Payroll is the ideal solution for your business.

Interested in QuickBooks Payroll?

If you have decided which QuickBooks payroll package is best for you, contact us at 866-949-7267 and we will be happy to discuss the details with you. We offer discounted pricing of QuickBooks Desktop products and even offer free demos for you to try the program before buying it.