QuickBooks Payroll Options

Intuit offers the following payroll options for QuickBooks Online (QBO) and QuickBooks Desktop (QBD).

QBO (Both options integrated)

  • Enhanced Payroll – You process, e-file, and e-pay federal/state taxes/returns. Drawbacks: You have to do your own setup, and you can’t upgrade to full service later.
  • QuickBooks Full Service Payroll – The name says it all; except for DIY processing Intuit handles everything else (taxes, returns, e-file, e-pay, W2s). Includes free setup. But it is more expensive.

QBD Both the options below integrate with QBD, and with both you’ll print your own payroll checks or do direct deposit. Also note that QBD Enterprise Gold includes an Enhanced Payroll subscription, and direct deposit is free.

  • Enhanced Payroll – You process, e-file, and e-pay federal/state taxes/returns. Unlike QBO, with this option in QBD you can upgrade later.
  • Assisted Payroll – DIY processing with Intuit handling all taxes, returns, e-filing, and e-payments.

Third Option

Intuit Full Service Payroll (IFSP) is another Intuit product that does not integrate with either QBO or QBD. However, you can export a data file to update either QBO or any version of QBD. Only IFSP allows you to pay subcontractors and file 1099s. Other services remain the same as Full Service Payroll for QBO.

 

QuickBooks Desktop to Disappear

QuickBooks Online (QBO) inspires both love and hate. Long-time users of QuickBooks Desktop (QBD) who almost fully utilize its advanced features usually hate QBO. QBO users, on the other hand, love the convenience of secure, real-time, anywhere access to their books.

Unfortunately, as anyone who works with Intuit products can easily discern, Intuit is focusing its efforts on QBO. Most industry analysts expect that, as QBO improves, QBD will eventually disappear.

Charlie Russell with the Accountex Report has written a series of articles that constitute an in-depth analysis. Here are the first two.

  1. Intuit and the Future of QuickBooks
  2. QuickBooks Online is the Future for Intuit

NEW QuickBooks Online & Xero User’s Group

On Thursday, February 24, 2017, we’re launching a user’s group for QuickBooks Online and Xero. Initially we’ll meet once a month in Huntsville, Alabama, with plans to split it into two separate monthly meetings (one for QBO and one for Xero) if there’s enough interest.

If you live in the Huntsville area and would like to attend, because space is limited we strongly encourage you to RSVP by visiting our Meetup.com page.

QuickBooks Online & Hubdoc: WOW!

Previously I wrote about the numerous plugins available for QuickBooks Online (QBO). Today I want to rave about Hubdoc.

Hubdoc allows you to automate your retrieval process for documents such as bank statements and bills, with automatic upload into QBO. There’s also a smartphone app that allows you to scan receipts and automatically upload them to your Hubdoc account, or you can scan and email to the Hubdoc portal using a unique Hubdoc email address. These processes eliminate errors such as lost receipts and accessing the wrong bank statement.  Check images, electronic transactions, email transfer details and CSV data are loaded into Hubdoc, making the reconciling process painless. Hubdoc will allow your company’s bookkeeping to be  fully paperless and cloud-based. Watch the five-minute video see just how amazing is the Hubdoc integration with QBO. You might also want to look at this page of the Intuit website. (Intuit is QBO’s parent company.)

Download my free report, Bookkeeping Myths.

QB Keyboard Shortcuts

Did you know that in QuickBooks Online (QBO), you can pull up a list of keyboard shortcuts by pressing CTRL+ALT+QUESTIONMARK ? This key combination activates a popup window that displays a list of all QBO keyboard shortcuts, along with your Company ID.

My favorite keyboard shortcuts are CTRL+ALT+S and CTRL+ALT+D. The first one saves the current form you’re working on (invoices or sales receipts, for example). The second shortcut saves and closes the form.

Download my free PDF report, Bookkeeping Myths.

There’s An App for That

Did you know that both QuickBooks Online and Xero have numerous apps (or plugins) to extend their functionality? You can learn more about them with the links below.

But deploy with care! Be careful to thoroughly research any that sound promising, because not all of them work. Read the reviews, and ask several people who are certified in your program of choice (Xero or QBO) about the app in question. I am a member of several bookkeeper and accounting groups on Facebook and LinkedIn. These are excellent venues for seeking information on a particular app. Please note that the Paypal app has proven to be very dysfunctional for numerous people from these groups who have attempted to use it. The app also has negative reviews posted.

Download my free PDF report, Bookkeeping Myths.

QB2013 Support Ends 5/31/16

Intuit, the parent company of all QuickBooks products, will be discontinuing support and all add-on services for QuickBooks 2013 effective 5/31/16. (Support for all versions prior to 2013 has previously been discontinued.) Your product will still function, but you will not be able to access the following:

  • QuickBooks Payroll Service
  • Live Support
  • Online Backup
  • Online Banking
  • Other services accessed through QuickBooks 2013 software

In addition, Intuit will issue no further critical security updates after 5/31/16. For more information, please visit this page of the Intuit website.

Now is a great time to upgrade to a cloud accounting application! Contact me today to learn more about how easy it is to switch to QuickBooks Online or Xero. Or, if you’re ready to make the switch, request a quote.