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APS, for instance, sells an ACA reporting solution product in addition to its online payroll service, and integrates some ACA information into the payroll service. Some online payroll services will also offer Affordable Care Act support, although typically it is through a separate product sold by the same company. For those that do offer a way to manage retirement benefits, using the feature can be as easy as selecting a new payroll item, and adding the company contribution to the plan, whether it’s an IRA or 401(k). Retirement services: Some online payroll services let businesses set up payroll items for retirement benefits, although you’ll typically need to purchase a more advanced service to find this feature. The IRS recommends that payroll services use EFTPS (Electronic Federal Tax Payment System), so that employers can confirm payments are being made on their behalf.
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It’s worth noting, however, that in the eyes of the IRS employers are ultimately responsible for ensuring the payment of federal taxes. Some will automatically fill in federal and state payroll tax forms, leaving it to you to simply e-file. Most of the top services will create year-end tax forms for employees and government agencies, including W-2s, W-3s, Form 940, and 1099s. Taxes: Depending on the size of the plan you choose, an online payroll service can range from calculating tax liabilities to handling all payroll taxes for you.
Do i need quickbooks payroll service to create paychecks software#
Others, like ZenPayroll, can integrate with Quickbooks and other bookkeeping software like Freshbooks, but may not do it as tightly as a larger provider like Intuit. QuickBooks Online offers special introductory pricing (mentioned below) that reduces the first year costs by 50% for people who sign up for their bundled bookkeeping and payroll services. Some will do this more seamlessly than others Intuit Payroll obviously runs within Quickbooks, since they are part of the same company. Integrations: If you also have bookkeeping software, you’ll want to make sure that your online payroll provider will be able to integrate with it. Features vary between different services, but in general a good online payroll service will handle direct deposits for employees, pay contractors, and calculate both employee gross pay for a pay cycle and calculate employees’ paychecks after deducting payroll taxes, withholdings, and other deductions.