3 Ways QuickBooks Helps You with Payroll
Payroll management is important; after all, everybody wants to get paid. Here are three features of QuickBooks that help you make sure everyone is paid right.
Photo by by Tima Miroschnichenko
What QuickBooks Features Save You Time With Your Payroll Process?
Even if you’ve never had anything to do with finances, you’ve probably heard of QuickBooks. Even as a child, I’d seen advertisements, though I always thought they were boring and just wished they’d get back to the cartoons (why did QuickBooks advertise during children’s programming anyway?). It is a very useful tool for many situations, though, especially if you’re running a small business. One of the many things businesses need to deal with is payroll. How does QuickBooks help with this? We spoke with Stapley Accounting, a QuickBooks Pro advisor, to discuss this.
1. Online Hours Submission
The first step to payroll is getting hours from the employees. This can be a messy process, especially if you do it through physical copies. While that might have been a necessity in the cavemen days, these days a lot of these processes can be managed digitally. QuickBooks helps by integrating with online submission processes. You can have your employees submit their payroll directly online and it will be automatically processed within the program. This cuts out a lot of the mess of data entry.
Of course, it wouldn’t be any good if employees could just submit any hours they wanted. That’s why QuickBooks has features that allow you to quickly examine payroll submissions and approve them. Account types within QuickBooks make sure that only people who are authorized to examine and approve these accounts have access to see them, giving you full control over the process.
2. Manage Other Forms of Compensation
Sometimes, money just isn’t enough. When it comes to a good job, most employees will be looking for more than just a paycheck. QuickBooks has built-in features that allow you to set up and track other forms of compensation as well, including health benefits and worker’s comp. You can manage all of your employee compensation methods from one platform.
3. Automatic Payroll Deposit
Payroll is a real hassle when you have to write a lot of checks. Many employees also find the hassle of submitting checks to be something they can’t make easy time for. Automatic payroll deposits eliminate this process entirely. It even calculates federal and state payroll taxes for you, so you never have to bother with any math – unless that’s your thing, I don’t judge. It also keeps you updated with alerts and notifications, so you have full control over what goes on. It also allows your employees to view their paychecks online. Everybody’s happy.
There’s A Lot In QuickBooks
Payroll management is just one of many options QuickBooks gives you. The program is an entire suite of tools, from HR assistance, to tax calculation. While it has advanced tech support available, that’s a lot to keep track of. If you find it’s more than you can figure out, don’t worry! QuickBooks also has a certification program. Certified QuickBooks ProAdvisors are trained by the company in the use of its software platform and all its features. If you’re looking to take the hassle out of managing your finances, you can find a QuickBooks certified accountant who will be able to pick up your business’s QuickBooks records and start work on them right away. With their expert knowledge of the program, they can help you get the best use of the platform to grow your business, saving you a lot of time and hassle.