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New QuickBooks Payroll Services Pay Off for Small Businesses and Accountants
With More Than 800,000 Customers, Intuit Takes the Pain Out of Processing Payroll In-house
MOUNTAIN VIEW, Calif. - October 27, 2004 - Intuit (Nasdaq: INTU), today expanded its commitment to small businesses and accountants that process payroll in-house, with two new QuickBooks® Payroll services: QuickBooks Enhanced Payroll Plus and QuickBooks Enhanced Payroll Plus for Accountants.

With more than 800,000 QuickBooks Payroll customers, Intuit serves more business customers than any other U.S. payroll service. By adding these new services, Intuit now offers a range of easy-to-use tools to painlessly and accurately maintain control over payroll, allowing small businesses to spend more time on their businesses and less time processing payroll.

New State Forms, Automatic QuickBooks Upgrades
The new Enhanced Payroll Plus service includes all of the Standard Payroll (formerly called Do-It-Yourself Payroll) features, and, for even greater convenience, Enhanced Payroll Plus also provides and automatically fills in the latest state forms for more than 40 states with the data in QuickBooks. Users can simply print, sign and mail payroll forms, thus eliminating errors and time associated with completing them by hand or typing them. Subscribers will also receive automatic ongoing upgrades to the latest QuickBooks® Pro or Premier software.

QuickBooks Standard Payroll includes all the features users have come to value from QuickBooks Payroll, including automatic completion of federal forms with QuickBooks data, up-to-date state and federal tax tables, and full integration with QuickBooks. In addition, Intuit has included new features customers have requested such as overtime and Federal Form 940EZ.

QuickBooks Enhanced Payroll Plus for Accountants, Intuit's first payroll service designed for accountants, enables accountants to offer payroll as a profitable, value-added service to their clients without being a drain on their productivity. Accountants can provide end-to-end payroll processing services for up to 50 clients with a single payroll subscription, and can take advantage of the convenience of integrated Direct Deposit. As part of the subscription to Enhanced Payroll Plus for Accountants, users will receive automatic ongoing upgrades to the latest QuickBooks Pro or Premier software at no extra cost.

"By incorporating customer feedback into the product development process, we have delivered the most important new features that small businesses and accountants have been asking for," said Cary Rosenzweig, vice president, QuickBooks Payroll. "Offering a service that includes comprehensive payroll functionality and automatic QuickBooks upgrades ensures that our customers always have the most up-to-date software and current payroll updates while saving time and money."

New Time-Saving Tools Enhanced Payroll Plus and Enhanced Payroll Plus for Accountants also include new time-saving tools, such as the ability to calculate bonuses and commissions in one simple step using Net-to-Gross Calculations. The Rapid Time Entry feature help users process payroll faster by allowing them to input hours for all employees on a single screen. The new built-in Workers' Compensation Tracking feature tracks classification codes and rates associated with various job functions helping business to more accurately manage the cost of workers' compensation. Plus, the workers' compensation functionality automatically calculates and excludes overtime premiums, eliminating the possibility of premium under- or over-payment. Integrated Direct Deposit is also available making it easy to deposit paychecks directly into employees' bank accounts, no matter where they are on payday.

"Features such as Workers' Compensation and Rapid Time Entry in the new QuickBooks Enhanced Payroll service help me easily and accurately manage payroll," said Patricia Roberts of Roberts Bookkeeping Service in San Fernando, Calif. "Now that state forms have been added, work that used to take me hours can be completed in minutes."

Pricing & Availability
QuickBooks Standard Payroll, QuickBooks Enhanced Payroll Plus and QuickBooks Enhanced Payroll Plus for Accountants are available immediately with a shipping date of November 10, 2004 on www.quickbooks.com or by calling 1-800-264-5643.

  • QuickBooks Standard Payroll: $199.00 per year.
  • QuickBooks Enhanced Payroll Plus: $399.00 per year with QuickBooks Pro, or $499.00 with QuickBooks Premier. QuickBooks Enhanced Payroll is also available without software upgrades for $299.
  • QuickBooks Enhanced Payroll Plus for Accountants: $399.00 per year with QuickBooks Pro, or $499.00 with QuickBooks Premier. QuickBooks Enhanced Payroll for Accountants is also available without software upgrades for $299.
  • Direct Deposit is a pay per use service, priced at $0.99 per check and $3.00 per transmission.

In addition to these new products, Intuit offers Intuit Payroll Services, including Complete Payroll and QuickBooks Assisted Payroll. For more information on Intuit's broad range of payroll solutions visit www.payroll.com.

 
About Intuit Inc.
Intuit Inc. is a leading provider of business and financial management solutions for small- and mid-sized businesses, consumers and accounting professionals. Its flagship products and services, including QuickBooks®, Quicken® and TurboTax® software, simplify small business management and payroll processing, personal finance, and tax preparation and filing. ProSeries® and Lacerte® are Intuit's leading tax preparation software suites for professional accountants.

Founded in 1983, Intuit had annual revenue of nearly $1.9 billion in its fiscal year 2004. The company has nearly 7,000 employees with major offices in 13 states across the U.S., and offices in Canada and the United Kingdom. More information can be found at www.Intuit.com.

 
Intuit, the Intuit logo, and QuickBooks among others, are registered trademarks and/or registered service marks of Intuit Inc. in the United States and other countries.
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