4. Audience Poll #1 Who are you? __Accountant __Small Business Owner ___Other How do you handle payroll now? __Manual__Outsourced__QB Payroll__Other software
5. 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
6. 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
11. A. Pay Employees in 3 Easy Steps Screenshot placeholder only…will need to get a cleaner screenshot Step 1 Select Employees to Pay
12. 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
13. 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
15. C. Other Assisted Payroll Features Job costing allows you to track your profitability by job or project: Enter the hours, job, and service item…
16. … the job cost profitability reports provide you the details so you know where your profits stand C. Other Assisted Payroll Features
17. Seamless Integration with QuickBooks: Payroll data integrated with general ledger – payroll liabilities and expenses updated automatically C. Other Assisted Payroll Features
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.