Intuit Inc. (NASDAQ:INTU) today introduced a new online service that will provide automatic payroll and direct deposit management to users of QuickBooks®, Intuit's best-selling small business accounting software. The service will be available to a limited number of QuickBooks users beginning this month and is expected to be widely available by December 1998.
The QuickBooks Online Payroll Service is designed to manage the hassle and responsibility of all payroll tax filings, tax payments, W2 processing, payroll data backup and direct deposits for users of QuickBooks and QuickBooks Pro. The service links directly into the payroll features of both QuickBooks 6.0 and QuickBooks Pro 6.0 and provides small business owners with an easy and inexpensive way to ensure timely and accurate payroll and direct deposit management.
"Small business owners told us that doing payroll for their own small business was often too time-consuming and complicated. In fact, more than 1/3 of small businesses have been penalized by the IRS for inaccurate or late payroll tax filings," said James J. Heeger, senior vice-president of the small business division at Intuit. "The QuickBooks Online Payroll Service was designed to eliminate the hassle and worry that so many small business owners feel when doing payroll on their own. The service also allows small businesses to offer direct deposit benefits to their employees easily and inexpensively."
How The Service Works
Customers interested in the service can get started by calling 1-800-332-4844 to receive an application number. Customers can then complete the application process directly from within the QuickBooks 6.0 or QuickBooks Pro 6.0 software. Customers can apply for both the Payroll and Direct Deposit services or can simply choose one of the services. Once a customer is enrolled in the service, performing payroll in QuickBooks is quick and easy; QuickBooks users simply enter their employees' hours into the software, click a button to send the data, and all payroll tax filings, tax deposits, W2 processing, and direct deposits are performed automatically from the customer's account at the QuickBooks Online Payroll Service Center. The Service Center then sends confirmation of the received payroll data back into QuickBooks. Employee paychecks (or direct deposit receipts) can then be printed locally from within QuickBooks.
If customers need technical assistance, the service provides toll-free technical support to get expert advice from Intuit's team of payroll representatives.
Data Transmission is Secure: Customer Satisfaction is Guaranteed
Intuit has teamed up with industry leaders Computer Resources Inc. (CRI) and The Chase Manhattan Bank so that all payroll and direct deposit processes are managed as efficiently as possible. Data transmission files are encrypted before being sent over the Internet. All payroll data is also protected with a personal identification number and security passwords from within the QuickBooks 6.0 software. If the customer is not satisfied within the first 90 days of the service, Intuit will refund all customer fees to the customer. In addition, Intuit will pay any payroll tax penalties assessed by federal and state governments caused by processing errors.
System Requirements and Pricing
Customers who wish to apply for the service must be using QuickBooks 6.0 or QuickBooks Pro 6.0 and have an Internet connection. The estimated cost for a small business with 5 employees is $30.00 per month for payroll services and $15.00 per month for direct deposit services (assuming the small business pays their employees twice per month).
