QuickBooks Online (QBO) Payroll is a cloud-based payroll processing software designed for small businesses.
If you are just now starting to run payroll or are considering switching from another 3rd party payroll provider, here are some of the pros and cons of using QBO Payroll:
Pros
- Easy to use: QBO Payroll has an intuitive and user-friendly interface that makes it easy for business owners and managers to process payroll.
- Affordable: QBO Payroll offers affordable pricing plans that include all payroll and tax services.
- Automated payroll processing: QBO Payroll automates many of the payroll processing tasks, such as calculating employee pay and taxes, generating pay stubs, and sending direct deposit payments.
- Time-saving: QBO Payroll automates many payroll tasks such as calculating and filing taxes, issuing paychecks, and managing employee data, which saves time and reduces the chance of errors.
- Tax compliance: QBO Payroll stays up-to-date with the latest tax laws and regulations, making it easier for businesses to stay compliant. In addition, you can utilize the auto payroll payments and filings feature so that QBO automatically makes all your payments and files all payroll forms on time.
- Integrations: QBO Payroll integrates seamlessly with other QuickBooks products, as well as with a variety of other business software and tools.
- Customer support: QBO Payroll offers customer support through phone, chat, and by appointment, which is available Monday through Friday, 6 a.m. to 6 p.m. Arguably, the most helpful feature they offer is the callback feature, you put in your information and typically get a call within 5-10 minutes so that you aren’t waiting on hold. This ensures that businesses can get help in a timely fashion.
CONS
- Potential for errors: While QBO Payroll automates many payroll tasks, there is still the potential for errors, especially if data is entered incorrectly.
- Internet access required: Since QBO Payroll is a cloud-based software, users need a reliable internet connection to use it effectively, which can be a drawback for businesses in areas with poor connectivity.
Depending on the nature and size of the client, a lot of times we advise our clients to get their company set up in QBO so that they can keep track of everything in an efficient and timely matter. The Online version of QuickBooks is especially helpful for collaboration with different parties. Get with your accountant in order to determine which QuickBooks subscription is suited best to your business needs.
Disclaimer: The information provided above is not meant to be legal or tax advise. You should consult your CPA and attorney to determine the best course of action for your situation.
Mitzi E. Sullivan CPA, PLLC is a cloud based professional services provider specializing in cloud accounting.
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