Get Relief from Payroll Tax Headaches

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Get Relief from Payroll Tax Headaches September 2008

Transcript of Get Relief from Payroll Tax Headaches

Page 1: Get Relief from Payroll Tax Headaches

Get Relief from Payroll Tax Headaches

September 2008

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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

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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?

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Audience Poll #1 Who are you? __Accountant __Small Business Owner ___Other

How do you handle payroll now? __Manual__Outsourced__QB Payroll__Other software

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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

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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

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• 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.

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• 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

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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

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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

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3

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A

B

C

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A. Pay Employees in 3 Easy StepsScreenshot placeholder only…will need to get a cleaner screenshot

Step 1 Select Employees to Pay

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A. Pay Employees in 3 Easy Steps

Step Print Paychecks or Use Direct Deposit2

Screenshot placeholder only…will need to get a cleaner screenshot

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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

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B. Intuit Pay Taxes & File Forms for You

• Taxes paid, Forms filed: Guaranteed

• Year-end forms & W-2’s

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C. Other Assisted Payroll Features

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Job costing allows you to track your profitability by job or project: Enter the hours, job, and service item…

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…the job cost profitability reports provide you the details so you know where your profits stand

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C. Other Assisted Payroll Features

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Seamless Integration with QuickBooks: Payroll data integrated with general ledger – payroll liabilities and expenses updated automatically

C. Other Assisted Payroll Features

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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

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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

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Call 866-820-6382 and speak to an Assisted Payroll Specialist if you have further questions

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Q&A

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