Using payroll with QuickBooks is the best way to be compliant and pay the employees of your firm. This integration diminishes the chance of errors and saves a large amount of time. But when it comes to choosing between QuickBooks with Enhanced Payroll or Full-Service Payroll, people tend to get confused.
In this blog, we will talk about the difference between the two and help you make a better decision. It depends on you that how you wish to make your payroll tax payments; with the help of a tool or by our own. Although leaving this to a tool is a much better option as it is accurate and fast. All you need to do is log in with proper credentials, select a few buttons and it is done!
There are different payroll alternatives available on QuickBooks Desktop and Online. Let’s talk about them in detail.
Payroll Options Available on QuickBooks Online
Before you make a choice, please note that QuickBooks Online has certain limitations. If you choose the enhanced version, you will not be able to upgrade to the full service afterward. It will not allow you to track job costing whereas, with the QuickBooks Desktop version, you will be able to do both.
The options available on QBO includes: –
- Enhanced Payroll – You will have to integrate
- Full-Service Payroll – It will be integrated for you.
QuickBooks Enhanced Payroll
This is an incredible decision for organizations that need to process their very own payroll, and do their own e-payment of state expenses, federal expenses, quarterly and yearly payroll assessment forms including year-end handling of W2s.
QuickBooks Full Service Payroll
It is a perfect choice for businesses that wish to pay their taxes and process their own payroll. Intuit itself will e-file the state and federal taxes, pay tax returns and process W2s at the year-end. It also allows paying contractors with direct deposit.
Payroll Options Available on QuickBooks Desktop
The alternatives available on QB desktop are as follows: –
- Enhanced Payroll – The user needs to integrate it himself
- Assisted Payroll – This option is already integrated for the user.
Both the options on QuickBooks Desktop allow you to run payroll checks. Without making much of an effort, they integrate directly into your accounting software. They come with a separate set of advantages such as job costing, profile and loss statement, multi-level class tracking
QuickBooks Enhanced Payroll
This option is for organizations that wish to run their own payroll and perform activities like, e-file state and federal taxes. It also allows to file payroll tax returns annually and includes W2 processing during the year-end. The most amazing advantage is that you can make a shift from enhanced to assisted payroll easily.
QuickBooks Assisted Payroll
Suitable for organizations who wish to get their taxes paid and have their payroll done for them. Along with e-filing of federal and state taxes, it also enables users to process W2s at the year-end.
If you wish to buy or set up any of these payroll options, simply get in touch with Account Cares. Once you hire us, we will perform the setup process and guide you through the use of it. For further queries, just give us a call at our global toll-free number or place a comment below.