2019-01-15 13:32:38 Payroll English Discover why QuickBooks Payroll is a top choice for countless small businesses in Canada. Learn how this extensive software make your... https://quickbooks.intuit.com/ca/resources/payroll/quickbooks-payroll-for-my-business/ Is Quickbooks Payroll Right for My Business?

Is Quickbooks Payroll Right for My Business?

6 min read

With so many payroll software options available, what should you look for when determining the best one for your business? Multiple payroll software options can meet a variety of needs, but QuickBooks Payroll is consistently a top choice for small business owners. Learn about the various features and benefits of this comprehensive payroll software, and discover why it’s the right choice for your business.

Process Payroll Quickly and Accurately

QuickBooks Payroll enhances your knowledge of the entire payroll process and handles all necessary payroll tasks. You can use the built-in QuickBooks timesheets to enter each employee’s payment information, or you can enter the payment information directly into the QuickBooks Paycheck screen.

To process payroll, all you need is the employee’s name and some other basic information, such as the rate of pay and amount of hours worked. After entering this information, select an option to pay the employee by check or direct deposit. Review the information, hit submit, then you’re done.

Run QuickBooks Payroll Software On the Go

If you’re on a business trip or away from the office for any reason, don’t worry – it’s easy to process employee payroll on-the-go with QuickBooks Payroll. Simply download the QuickBooks Payroll App from Google Play or App Store, and use it to run payroll when you’re away from the office. The app is intuitive and user-friendly, and offers many of the same features you use on your desktop payroll software, so you can learn it fast.

Prepare and Submit Payroll Taxes

Manually preparing employee tax information is a big job. By providing multiple tax services, you can eliminate this task and save a lot of time with QuickBooks Payroll. First, the software automatically completes federal and provincial tax forms using the employee payroll data stored in the software. Second, the software electronically files and pays all taxes. Because there’s such a low risk for errors with these processes, QuickBooks guarantees accuracy. The information gets to the proper agencies, keeping your business in compliance with the government.

Track Benefits and Set Up Withdrawals with Quickbooks Payroll

It’s common for companies to hire a benefits specialist to track benefits such as health care, retirement savings, vacation time, and other perks. These specialists are also responsible for setting up court-ordered deductions or wage garnishments, such as child support payments. QuickBooks Payroll has a wizard that walks you step-by-step through the entire process of entering benefits and deduction information for each employee, so hiring a specialist isn’t necessary. If you don’t want to use the wizard, call QuickBooks Payroll support and speak to an agent who can walk you through this setup process.

Once you enter the benefits and deduction details, QuickBooks Payroll keeps track of the information and withholds pay whenever it’s necessary. The software automatically makes payments to outside agencies, such as insurance companies, banks, or charitable organizations.

Each employee receives detailed information about benefits and deductions on his pay stub. For example, the pay stub may show withdrawals for the following:

  • Health insurance
  • Dental insurance
  • Life insurance
  • Child support
  • IRA account
  • Unpaid leave of absence

If the employee needs to update any of the information regarding benefits or garnishments, they should provide supporting documents before you alter any details. This helps ensure the information in your QuickBooks Payroll software system is accurate and in compliance with any federal or provincial laws.

Keep Employee Information Organized

QuickBooks Payroll keeps each employee’s information filed separately to avoid mix-ups. Whenever you’re entering payroll information, updating employee benefits, or performing any task pertaining to a specific employee, their name is at the very top of the screen. In order to access an employee’s data, you must enter information that’s specific to that employee, such as an employee ID or social insurance number (SIN). Each time you hire a new employee, you can add them to the database by simply clicking “Add Employee” and entering their information. You can also create separate profiles for independent contractors or freelancers.

Streamline Reporting

If you receive an order to report payroll information about an employee to a federal agency, you can quickly run a payroll report in QuickBooks and submit it to the proper authority. Perhaps your company is undergoing an audit and you need to supply payroll information to tax authorities. No worries – you can gather the information requested fast. In virtually any scenario that requires accessing your company’s or an employee’s payroll data, the information can be accessed within minutes. You can easily download data by job, department, or group of employees. QuickBooks Payroll also has a comprehensive selection of standard management reports. You can print labor cost distribution reports, benefit administration reports, and much more. You can also customize these reports by adding a cover page, a summary, headers, footers, or financial notes.

File and Send T4 Forms

Once tax season hits, most employees anxiously await the arrival of their T4 forms. You can easily file T4 forms with the proper authorities and print it onto T4 paper in QuickBooks Payroll. There’s the option of printing T4 forms for all employees at once, or you can print them upon request. The professional form prints directly from Adobe Reader and allows any T4 paper of your choice.

QuickBooks Payroll Setup Assistance

Although QuickBooks Payroll is simple to learn and use, there may be times when you need a bit of help. Assistance is just a chat message or phone call away. QuickBooks Payroll has a knowledgeable team of agents available to help with everything from setting up your software and entering employee data, to creating reports and transmitting your first payroll.

You can also access assistance during tax season to ensure all payroll data transmits correctly. If you use another payroll provider, QuickBooks support can still help. A team member can walk you through the process of transferring all of your payroll information from your current provider into QuickBooks. Then, you can access your data from the QuickBooks Payroll system.

Automatic Calculations and Reminders

QuickBooks Payroll software offers peace of mind to small business owners in Canada, since it guarantees both the accuracy and timeliness of your payroll taxes. You can set the software up to give you reminders, but filing is automatic. QuickBooks Payroll offers a 100% satisfaction guarantee, and if anything ever goes wrong, QuickBooks pays any resulting tax penalties.

QuickBooks Payroll makes the entire payroll process easy. If you’re a new small business owner without experience using payroll software, QuickBooks has a support team that’s ready to help you navigate the program. The payroll software program is both intuitive and user-friendly, so you might not need support, but remember it’s available in case you have questions.

The program also keeps track of a variety of information related to your business, giving you more time to focus on day-to-day operations. One of the major benefits of QuickBooks Payroll is that there’s no need to take trips to the bank or post office during business hours, since the software allows you to run your entire payroll from a single location.

Did you know you can pay employees in QuickBooks? Automate routine operations, add Payroll today.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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