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Get Relief from Payroll Tax Headaches
 

Get Relief from Payroll Tax Headaches

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  • Good Afternoon and Welcome to Today’s Webinar where we will be discussing Intuit’s QuickBooks Assisted Payroll ‘An Affordable Alternative to Outsourced Payroll’ my name is Michelle Long and I will your speaker today. This webinar will last 1 hour; A 25 minute presentation followed by 35 minutes for Questions and Answers. Webinar Tips: *6 – Mute #6 – Unmute Throughout the meeting please submit your questions in the window provided like the one shown below. Questions will be answered following the training for 10 minutes on a first come first served basis. Let us review the Agenda for this Webinar
  • Welcome [3 min] Audience poll #1 [2 min] The payroll process [5 min] Audience poll #2 [2 min] Comparing outsourced, Assisted & manual payroll [5 min] Assisted Payroll – how does it work? [13 min] Product Demo [12 min] Reiterate advantages [1 min] Case studies: SBOs who have switched, and what they say [5 min] Q&A [20 min] Closing survey [5 min]
  • Again I Welcome you to this opportunity as you will learn and review what makes the payroll process challenging. We will compare the 3 top current payroll processing options to date. Those being Outsourcing the entire payroll process, having Assisted Payroll and manually processing payroll. We will discuss how Assisted Payroll works, walking through the workflow, a demo and how to determine if Assisted Payroll is the right choice for you.
  • Our 1 st Poll is to determine who you are and how you handle your payroll now, please use WebEx to answer these questions.
  • As we look at what the most common challenges to payroll are, you may identify with one or more of these.
  • Our 2 nd Poll is to determine what you find to be the challenges of how you process payroll using your current menthod, please use WebEx to answer these questions.
  • Using our three methods as we have discussed you can easily see how each method differs from the next.
  • The three compared, you will see that QuickBooks Assisted Payroll allows you to pay your employees easily, taxes are done for you guaranteed. This easy yet secure way to process payroll eliminates the double entry of data and overall costs less in comparison. “ When working with a client, I ask how they are currently handling payroll. There are three possible answers: by hand, electronically, or through another service such as ADP or Paychex. This helps me decipher where they’re coming from. So they can decide if their time is better spend doing something else. By delegating handling the taxes and W2s, clients can shift their time to more lucrative activities where they just didn’t have the time before.” I also find that “Most people don’t realize how much they spend on payroll processing to outsourcers. I asked them how much their last two payroll fees were, and then the math usually speaks for itself.” I want to share with you that “I have had one client who could have probably paid for the QuickBooks Assisted Payroll subscription for four years with the taxes, penalties, and interest they had to pay out in one year.”
  • Having payroll data and reports at your fingertips is more efficient. Lets review how Assisted Payroll Works.
  • You pay employees Select EEs you want to pay Create & print paychecks (or use DD) Intuit pay taxes and file forms for you: Taxes paid, Forms filed: Guaranteed Year-end forms & W-2’s Other value-added Assisted Payroll features: Job costing Viewing data & generate payroll reports How payroll data is integrated into G/L
  • After entering employee time, you can select employees to pay
  • We have discussed what Assisted Payroll offers you and now you might be asking yourself, is it right for you and your business? If you answer yes to any of these 4 statements then yes, it is. So then when is the right time to switch. It is suggested that you do not change mid month or mid quarter therefore choose a starting quarter or starting year to switch to this method of processing your payroll. Processing payroll for over 12 years “I believe this is a good solution, whether you’re paying taxes for one employee or 50, you can either spend all that time filing taxes, or you can spend a small fee every month to have it taken care of for you.”
  • Now I would like to discuss any question that you have regarding Assisted Payroll as your payroll processing method. Please press #6 to unmute your phone to participate.
  • Thank you to all who have attended today. We are glad to see you accepted this opportunity to learn about Intuits QuickBooks Assisted Payroll. We would appreciate your feedback by answering the few questions via WebEx.

Get Relief from Payroll Tax Headaches Get Relief from Payroll Tax Headaches Presentation Transcript

  • Get Relief from Payroll Tax Headaches September 2008
  • Agenda
    • Welcome
    • Audience poll #1
    • The payroll process
    • Audience poll #2
    • Comparing outsourced, Assisted & manual payroll
    • Assisted Payroll – how does it work?
      • Service walk through
      • Advantages
    • Summary
    • Q & A (about the payroll process or Assisted Payroll)
    • Closing survey
  • Welcome: What You Will Learn
    • What makes the payroll process challenging
    • Comparing outsourced, Assisted & manual payroll
    • Assisted Payroll: how does it work?
      • Workflow
      • Demo
      • Is Assisted Payroll right for you?
    Goal Help you learn about QB Assisted Payroll and how it is a great alternative to ADP/Paychex
  • Audience Poll #1 Who are you? __Accountant __Small Business Owner ___Other How do you handle payroll now? __Manual__Outsourced__QB Payroll__Other software
  • What Makes the Payroll Process Challenging? Know the rules! Set up a new Employee Compute Deductions Sign & distribute paychecks Keep track of Tax liabilities Pay & File on Time Calculate Wages Keep Track of Changes Year-end work Keep track of when to pay taxes, file forms… and pay/file on-time! Each pay period, issue paychecks or use Direct Deposit Deduct all appropriate withholdings Track time worked by hourly employees & calculate wages earned Record sick leave & vacation time Keep track of changes in withholdings, rate & rules Understand & apply relevant payroll regulations Decide if your next hire qualifies as a W-2 employee, and getting them to fill out a W-2 form Integrate payroll details into financial accounting software, generate year-end forms & payments, including W-4’s
  • Audience Poll #2 What are your challenges when doing payroll? __ Time & effort required __ Being accurate with payroll & taxes __ Filing on time __ Accessing payroll data and reports __ Integrating payroll in general ledger
  • Manual, Outsource, & Assisted Payroll Outsource Assisted Manual
    • ADP's Tax Management services handle your federal, state and local taxes (additional fees may apply).
    1 Based on information on ADP website in August 2008.
    • You simply enter hours within QuickBooks and print checks, or use convenient Direct deposit (additional fees apply).
    • Since you create paychecks, you can pay employees or reissue a lost or incorrect paycheck whenever you need to.
    • Assisted Payroll handles your payroll tax payments and filings for you, and you're protected by Intuit's "no penalties" guarantee.
    • W-2’s prepared for you: print from secure website or have them mailed to you
    • Assisted Payroll works right within QuickBooks so you don't have to re-enter your payroll data—"importing" data is unnecessary.
    $59/month up to 15 employees running payroll bi-weekly Cost Typically costs $100+ per month for a 15 person company running payroll bi-weekly. 1 “ Free” …but what is your time worth? Pay Employees
    • You submit hours by phone, fax or over the Internet and ADP sends you paychecks or pays employees by direct deposit or pay cards (additional fees may apply).
    • Or print your own checks with ADP's Internet payroll service.
    • Search for tax rates & withholding limits, monitor for changes over time
    • Compute hours worked, gross wages & employee withholdings
    • Write checks by hand & distribute
    Tax Filings & Deposits
    • Manually calculate amount of federal & state taxes owed (employer & employee contributions)
    • Keep track of when taxes are due
    • Find tax forms, fill out by hand, take deposits to bank
    W-2’s
    • W-2’s printed & mailed to you
    • Sum up year of payroll data
    • Find W-2 forms, fill out by hand, distribute to employees
    Integrating payroll into G/L
    • Electronically import journal entries from ADP payroll into QuickBooks by mapping your payroll data to the general ledger with ADP's general Ledger Interface (additional fees may apply).
    • Key payroll details into accounting system
    • Code hours worked for job-costing
  • Manual, Outsource, & Assisted Payroll Outsource Assisted Manual You pay employees – easily Taxes are done for you - guaranteed Easy, secure No double entry Costs less
    • Enter employee time directly into QuickBooks (code for job costing as you go)
    • Print your own paychecks or use Direct Deposit
    • Cut checks manually when needed (no waiting)
    • Federal, state filings and deposits handled for you – guaranteed accurate & on-time
    • W-2’s prepared for you: print from secure website or have them mailed to you
    • Payroll data is already in QuickBooks
    • Always know job profitability
    $59/month up to 15 employees Cost >$100/month “ Free” …but what is your time worth? Pay Employees
    • Call or fax in employee hours, or enter hours into a website
    • Wait for messenger to deliver paychecks, print your own paychecks or use Direct Deposit
    • Search for tax rates & withholding limits, monitor for changes over time
    • Compute hours worked, gross wages & employee withholdings
    • Write checks by hand & distribute
    Tax Filings & Deposits
    • Federal, state filings and deposits handled for you – guaranteed accurate & on-time
    • Manually calculate amount of federal & state taxes owed (employer & employee contributions)
    • Keep track of when taxes are due
    • Find tax forms, fill out by hand, take deposits to bank
    W-2’s
    • W-2’s printed & mailed to you
    • Sum up year of payroll data
    • Find W-2 forms, fill out by hand, distribute to employees
    Integrating payroll into G/L
    • Key payroll details into accounting system
    • Code hours worked for job-costing
    • Key payroll details into accounting system
    • Code hours worked for job-costing
  • How Does Assisted Payroll Work? You We Assisted Payroll runs within QuickBooks so you’ll always have payroll data & reports at your fingertips "No Penalties" Guarantee: if the data you provide is accurate, on time, and your account is sufficiently funded, your payroll tax deposits and filings will be on time and accurate or we'll pay the resulting payroll tax penalty.
    • Payroll expert guides you through set-up process
    Easy & Accurate Setup
    • Three clicks to run payroll, whether you create paychecks or initiate Direct Deposit
    • Deductions & witholdings calculated automatically
    You Pay Employees
    • Intuit automatically debits your account so it can pay state and federal taxes on your behalf
    • Taxes & forms are guaranteed accurate and on time or Intuit pay the resulting penalties *
    Intuit Pays Taxes Files Forms
    • Get unlimited access to dedicated payroll experts or use our online help center, available 24x7
    Resolve Questions
  • Assisted Payroll Walk Through
    • You pay employees in 3 easy steps :
    • After entering employee time, select employees to pay
    • Create & print paychecks or use direct deposit
    • Send payroll information to Intuit
    • Intuit pay taxes and file forms for you
    • Taxes paid, Forms filed: Guaranteed
    • Year-end forms & W-2’s
    • Other value-added Assisted Payroll features:
    • Job costing
    • View data & generate payroll reports at any time
    • Payroll data integrated into general ledger
    A B C 2 3 1
  • A. Pay Employees in 3 Easy Steps Screenshot placeholder only…will need to get a cleaner screenshot Step 1 Select Employees to Pay
  • A. Pay Employees in 3 Easy Steps Screenshot placeholder only…will need to get a cleaner screenshot Step Print Paychecks or Use Direct Deposit 2
  • A. Pay Employees in 3 Easy Steps Will need to get a screenshot with button to send info to Assisted Payroll Step Send Details to Assisted Payroll 3
  • B. Intuit Pay Taxes & File Forms for You
    • Taxes paid, Forms filed: Guaranteed
    • Year-end forms & W-2’s
  • C. Other Assisted Payroll Features Job costing allows you to track your profitability by job or project: Enter the hours, job, and service item…
  • … the job cost profitability reports provide you the details so you know where your profits stand C. Other Assisted Payroll Features
  • Seamless Integration with QuickBooks: Payroll data integrated with general ledger – payroll liabilities and expenses updated automatically C. Other Assisted Payroll Features
  • Assisted Payroll: Is it Right for You?
    • Is Assisted Payroll right for you?
      • Yes, if you value your time
      • Yes, if you’d like help with taxes
      • Yes, if you’d like a cost-effective solution
      • Yes, if you like to do it yourself, but have help when you need it
      • Right time to switch? Quarter- or year-end
  • Assisted Payroll Key Benefits
    • Easily pay employees yourself
    • Intuit handles tax payments and filings for you – on time and guaranteed
    • Get expert support when you need it
    • Less than the cost of outsourcing
    • Seamless integration with QuickBooks
    Call 866-820-6382 and speak to an Assisted Payroll Specialist if you have further questions
  • Q&A
  • Webinar Survey