get relief from payroll tax headaches
Post on 07-May-2015
2.235 Views
Preview:
TRANSCRIPT
Get Relief from Payroll Tax Headaches
September 2008
Intuit Confidential2
Agenda
• Welcome
• Audience poll #1
• The payroll process
• Audience poll #2
• Comparing outsourced, Assisted & manual payroll
• Assisted Payroll – how does it work? –Service walk through
–Advantages
• Summary
• Q&A (about the payroll process or Assisted Payroll)
• Closing survey
Intuit Confidential3
Goal Help you learn about QB Assisted Payroll and how it is a great alternative to ADP/Paychex
Welcome: What You Will Learn
•What makes the payroll process challenging
•Comparing outsourced, Assisted & manual payroll
•Assisted Payroll: how does it work?–Workflow–Demo– Is Assisted Payroll right for you?
Intuit Confidential4
Audience Poll #1 Who are you? __Accountant __Small Business Owner ___Other
How do you handle payroll now? __Manual__Outsourced__QB Payroll__Other software
Intuit Confidential5
Keep track of when to pay taxes, file forms… and pay/file on-time!
Each pay period, issue paychecks or use Direct Deposit
Deduct all appropriate withholdings
Track time worked by hourly employees & calculate wages earned
Record sick leave & vacation time
Keep track of changes in withholdings, rate & rules
Understand & apply relevant payroll regulations
Decide if your next hire qualifies as a W-2 employee, and getting them to fill out a W-2 form
Know the rules!
Set up a new Employee
ComputeDeductionsSign &
distribute paychecks
Keep track ofTax liabilities
Pay &File on Time
Calculate Wages
What Makes the Payroll Process Challenging?
KeepTrack ofChanges
Integrate payroll details into financial accounting software, generate year-end forms & payments, including W-4’s
Year-end work
Intuit Confidential6
Audience Poll #2
What are your challenges when doing payroll?
__ Time & effort required__ Being accurate with payroll & taxes__ Filing on time__ Accessing payroll data and reports__ Integrating payroll in general ledger
Intuit Confidential7
• You simply enter hours within QuickBooks and print checks, or use convenient Direct deposit (additional fees apply).
• Since you create paychecks, you can pay employees or reissue a lost or incorrect paycheck whenever you need to.
• Assisted Payroll handles your payroll tax payments and filings for you, and you're protected by Intuit's "no penalties" guarantee.
• W-2’s prepared for you: print from secure website or have them mailed to you
• Assisted Payroll works right within QuickBooks so you don't have to re-enter your payroll data—"importing" data is unnecessary.
$59/month up to 15 employees running payroll bi-weekly
Manual, Outsource, & Assisted PayrollOutsource AssistedManual
Cost Typically costs $100+ per month for a 15 person company running payroll bi-weekly.1
“Free”…but what is your time worth?
Pay Employees
• You submit hours by phone, fax or over the Internet and ADP sends you paychecks or pays employees by direct deposit or pay cards (additional fees may apply).
• Or print your own checks with ADP's Internet payroll service.
• Search for tax rates & withholding limits, monitor for changes over time
• Compute hours worked, gross wages & employee withholdings
• Write checks by hand & distribute
Tax Filings &
Deposits
• Manually calculate amount of federal & state taxes owed (employer & employee contributions)• Keep track of when taxes are due• Find tax forms, fill out by hand,
take deposits to bank
W-2’s• W-2’s printed & mailed to you• Sum up year of payroll data
• Find W-2 forms, fill out by hand, distribute to employees
Integrating payroll into G/L
• Electronically import journal entries from ADP payroll into QuickBooks by mapping your payroll data to the general ledger with ADP's general Ledger Interface (additional fees may apply).
• Key payroll details into accounting system
• Code hours worked for job-costing
•ADP's Tax Management services handle your federal, state and local taxes (additional fees may apply).
1Based on information on ADP website in August 2008.
Intuit Confidential8
• Enter employee time directly into QuickBooks (code for job costing as you go)• Print your own paychecks
or use Direct Deposit• Cut checks manually when
needed (no waiting)
• Federal, state filings and deposits handled for you – guaranteed accurate & on-time
• W-2’s prepared for you: print from secure website or have them mailed to you
• Payroll data is already in QuickBooks• Always know job profitability
$59/month up to 15 employees
Manual, Outsource, & Assisted PayrollOutsource AssistedManual
Cost >$100/month“Free”…but what is your time worth?
Pay Employees
• Call or fax in employee hours, or enter hours into a website• Wait for messenger to deliver
paychecks, print your own paychecks or use Direct Deposit
• Search for tax rates & withholding limits, monitor for changes over time• Compute hours worked, gross
wages & employee withholdings• Write checks by hand &
distribute
Tax Filings &
Deposits
• Federal, state filings and deposits handled for you – guaranteed accurate & on-time
• Manually calculate amount of federal & state taxes owed (employer & employee contributions)• Keep track of when taxes are
due• Find tax forms, fill out by hand,
take deposits to bank
W-2’s• W-2’s printed & mailed to
you• Sum up year of payroll data• Find W-2 forms, fill out by hand,
distribute to employees
Integrating payroll into G/L
• Key payroll details into accounting system• Code hours worked for
job-costing
• Key payroll details into accounting system• Code hours worked for
job-costing
You pay employees – easily
You pay employees – easily
Taxes are done for you - guaranteed
Taxes are done for you - guaranteed
Easy, secureEasy, secure
No double entryNo double entry
Costs lessCosts less
Intuit Confidential9
How Does Assisted Payroll Work?
You WeAssisted Payroll runs within QuickBooks so you’ll
always have payroll data & reports at your fingertips
"No Penalties" Guarantee: if the data you provide is accurate, on time, and your account is sufficiently funded, your payroll tax deposits and filings will be on time and accurate or we'll pay the resulting payroll tax penalty.
• Payroll expert guidesyou through set-up process
Easy & AccurateSetup
• Three clicks to runpayroll, whether you create paychecks or initiate Direct Deposit
• Deductions & witholdings calculated automatically
YouPay Employees
• Intuit automatically debits your account so it can pay state and federal taxes on your behalf
• Taxes & forms are guaranteed accurate and on time or Intuit pay the resulting penalties *
Intuit Pays TaxesFiles Forms
• Get unlimited access to dedicated payroll experts or use our online help center, available 24x7
ResolveQuestions
Intuit Confidential10
Assisted Payroll Walk Through
You pay employees in 3 easy steps:
After entering employee time, select employees to pay
Create & print paychecks or use direct deposit
Send payroll information to Intuit
Intuit pay taxes and file forms for you
• Taxes paid, Forms filed: Guaranteed
• Year-end forms & W-2’s
Other value-added Assisted Payroll features:
• Job costing
• View data & generate payroll reports at any time
• Payroll data integrated into general ledger
2
3
1
A
B
C
Intuit Confidential
A. Pay Employees in 3 Easy StepsScreenshot placeholder only…will need to get a cleaner screenshot
Step 1 Select Employees to Pay
Intuit Confidential
A. Pay Employees in 3 Easy Steps
Step Print Paychecks or Use Direct Deposit2
Screenshot placeholder only…will need to get a cleaner screenshot
Intuit Confidential
A. Pay Employees in 3 Easy Steps
Step Send Details to Assisted Payroll3
Will need to get a screenshot with button to send info to Assisted Payroll
Intuit Confidential
B. Intuit Pay Taxes & File Forms for You
• Taxes paid, Forms filed: Guaranteed
• Year-end forms & W-2’s
Intuit Confidential
C. Other Assisted Payroll Features
15
Job costing allows you to track your profitability by job or project: Enter the hours, job, and service item…
Intuit Confidential
…the job cost profitability reports provide you the details so you know where your profits stand
16
C. Other Assisted Payroll Features
Intuit Confidential17
Seamless Integration with QuickBooks: Payroll data integrated with general ledger – payroll liabilities and expenses updated automatically
C. Other Assisted Payroll Features
Intuit Confidential18
Assisted Payroll: Is it Right for You?
Is Assisted Payroll right for you?
Yes, if you value your time
Yes, if you’d like help with taxes
Yes, if you’d like a cost-effective solution
Yes, if you like to do it yourself, but have help when you need it
Right time to switch? Quarter- or year-end
Intuit Confidential
Assisted Payroll Key Benefits
• Easily pay employees yourself• Intuit handles tax payments and filings for you – on time and guaranteed•Get expert support when you need it• Less than the cost of outsourcing• Seamless integration with QuickBooks
19
Call 866-820-6382 and speak to an Assisted Payroll Specialist if you have further questions
Q&A
Webinar Survey
top related