QuickBooks has announced the release of three new payroll subscriptions, which are to go live for all users on November 1st, 2020.
Payroll needs for every business differ. Some companies have employees or contractors which can be dedicated to overhead or project-based work. To meet the demands of the variety of Payroll, QuickBooks has created three subscription levels. The three subscription levels are flexible enough to meet the needs of growing or established business. Having a payroll solution that integrates directly with your accounting solution makes it easy to pull reports and have all the necessary information to make management decisions.
On November 1st, 2020, every existing QuickBooks Online Payroll user will be converted from their current subscription level to one of the three new subscription plans.
As a ProAdvisor, your role is to present the payroll solution, which best meets your client's needs. To better prepare you and your clients, this payroll series will be your guide to understanding each payroll subscription's features and how to adjust payroll settings, including the benefits of Tsheets time tracking.
The three new payroll subscription levels are Core, Premium, and Elite. Each of these three QuickBooks Online payroll subscriptions has full-service features that can be adjusted to self-service if necessary. Full-service Payroll means taxes and forms can be filed for you by QuickBooks Online Payroll. If you want to process taxes and forms, you can turn off the default automated taxes and forms feature. We address this further near the end of this article.
While working with your payroll clients, you can determine which of the three subscriptions are a good fit for each client. Asking various questions will help you understand if they need same-day direct deposit, time or project tracking, white-glove service for on-boarding, 24/7 support, tax penalty protection, and HR advisor fits their needs.
QuickBooks Online Payroll Line-up going into implementation on an across-the-board basis as of November 1, 2020 to all current payroll subscribers.
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Let’s look at the subscription level features.
Core Payroll offers needed benefits for many clients:
- Unlimited payroll runs
- 24-hour direct deposit
- All tax payments calculated
- Automated tax payments and form filing for Federal and state (not local taxes) handled for the client by QuickBooks Online Payroll
- Automated tax payments and form filing can be turned off for self-service processing
- Self-services employee portal (Workforce)
- Free year-end forms are included
- Available in all 50 states
- Manage garnishments and deductions
- payroll reports
- Auto Payroll
- Health benefits
Premium Payroll includes all Core benefits plus additional features:
- State new-hire reporting
- Grant user permissions
- Automated tax payments and form filing for Federal, State and Local
- Same day direct deposit
- HR support center
- TSheets time tracking
- Expert on-boarding setup review
Elite Payroll includes all Core and Premium benefits plus additional offerings to safeguard and guide many clients:
- Multi-state filing with no additional fee
- White glove on-boarding payroll setup can be completed for the client by a payroll specialist. This includes conversion from other payroll products
- Elite TSheets time tracking which provides real-time tracking of project hours and labor expenses, geofencing alerts workers to clock in or out when entering or leaving the job site plus, an activity feed lets team members add and view notes, photos, and project updates from anywhere
- There is protection from tax penalties: Because all fees are calculated and managed on behalf of the client, the QuickBooks Online Elite Payroll team safeguards the process and pays any penalties if they are ever incurred
- Personal HR advisor
By the way, all subscription levels can have automated taxes and forms turned off. QuickBooks Payroll will still calculate taxes and populate forms; however, when turning off automated taxes in Core, Premium, and Elite subscriptions, you or the client will be responsible for processing and filing taxes.
In future installments of this payroll series we will examine the products in greater depth along with their implementation and related issues. Between now and then, you can visit this official Intuit Firm of the Future Blog post for more information about each offering plus other details on support for payroll subscriptions.