Accounting is not only about bookkeeping as there are many aspects of accounting that one needs to take care of and with so much going on, most of the small and medium-sized businesses prefer to outsource their accounting practices.
Well, this is one of the main reasons why outsourcing crucial accounting operations has become a new normal for most of the small and medium-sized businesses, and because of this, we are even witnessing an influx in third party accounting services.
Every part of accounting might start sounding complex and complicated to you but when you will ask a CPA then he will surely say that payroll is one of the most complicated parts of accounting and if it is done well, then the rest of accounting can become a pie.
If you are worried about payroll management in your small or medium sized business and if your current accounting software is not able to fulfill your expectations then you should make a switch to the very advanced QuickBooks Payroll software solution without any doubt. Let’s explore more about this amazing and powerful accounting software through this blog post.
What is QuickBooks payroll software?
QuickBooks Payroll software is one of the most advanced web-based software that is used for the sole purpose of managing the payroll of the company with 100% accuracy and without the need for any type of paperwork. With the help of this advanced software solution, one can easily manage both payroll and accounting in one place and thus there will be minimal need for manual entry of data which will further improve the accuracy. If you will start using this software then you can be sure that none of your employees are overpaid or underpaid.
If you will use this software then you will be able to manage the profile of every employee and then determine various payment factors such as pay schedule, pay rate, and the medium of payment. The payroll can then be easily reviewed and submitted at any point of time along with in-depth reports that will show you total payroll cost, cost breakdown between wages, and even taxes between employer and employee.
You should also know that behind this advanced software it is the U.S based team of payroll experts of Inuit and this is why this software is so effective and efficient.
Features of QuickBooks Payroll software
Manage paid time off
If you are struggling with managing paid time off of your employees then this software will act as your savior. When you will start using this software then you will be easily able to set up and track employee paid time off and you will also be able to manage sick, unpaid, and paid leaves of your employees.
Free direct deposit
Another most talked about feature that you will get with this advanced payroll software will be free direct deposit. You should know that with the help of this feature from Intuit, you will be able to keep cash longer and you will even be able to pay your employees at your pace through direct deposit without any additional charges.
Automation has always been one of the main focuses of Intuit and it has been applied to the payroll software as well. If you are not wishing to waste your valuable time in dealing with the payroll manually then you can use this software and set up your payroll automatically. This will save both your time and effort.
View pay stubs
You don’t need to make traditional announcements or emails to your employees as managing pay stubs is really a cakewalk in QuickBooks payroll software. You can easily customize, print, and even email pay stubs. In addition to this, you can also set up notifications so that all your employees can know when their paychecks are ready.
Time tracking integration
Another most feature of this widely popular and used payroll software is the integration of time tracking. You should know that with better time tracking of your employees through the software, you will never have to worry about entering every detail related to your employees manually.
Benefits of using QuickBooks Payroll software
Payroll is not only a complicated process but it is also a lengthy process as well and this is why in payroll management, a lot of paperwork is required. Well, if the cost of papers is adding up to your budget the QuickBooks payroll software can solve your issue. When you will start using this software then you will not have to do anything related to payroll on papers as everything will be done in the software itself.
Ability to track the benefit of the firm
If you are providing health insurance or sick leaves to your employees then it will keep your employees in your firm for longer and it will attract other employees as well. But managing all these overlays of payroll is complicated. But with the help of this payroll software, you can manage and track the benefit of the firm. You can easily define all of them and even add a bonus pay without any hassle.
Staying compliant becomes easy
You should know that you need to stay compliant when it comes to payroll because there are severe penalties written in the legal book for altering payroll. But with QuickBooks payroll by your side, you can be sure about staying compliant. From expert support to labor law posters, you will get everything from the software in order to stay compliant. In addition to this, you will also get quick access to important forms like W-2, W-9, and much more.
Proper management of the employee information
All the companies out there must be aware of the huge amount of paperwork involved when it comes down to managing, training, and hiring new employees. If you are finding this section of your business management to be chaotic then you can use QuickBooks payroll software to ease your pain. With the help of this software, you can easily manage all the information related to your employees in one place.
Payroll management might be one of the most complicated aspects of accounting but from a business point of view, it is also the most important aspect. This is why when it comes down to choosing the best accounting software solution then compromise and always choose QuickBooks payroll software without any doubt.