QuickBooks Payroll Review

Payroll headaches? QuickBooks Payroll is a leading solution for small businesses. It boasts simplicity, efficiency, and accuracy.

Our deep dive will cover the key features, pros and cons, costs, and customer reviews to answer a simple question: Is doing payroll on QuickBooks worth it?

We're dissecting this software piece by piece. Let’s dig in.

Table of contents
How does QuickBooks Payroll work? QuickBooks Payroll costs and plans Pros and cons of QuickBooks Payroll Save Time and Money On Overseas Payments With Wise Business QuickBooks Payroll reviews How to do payroll in QuickBooks Is QuickBooks Payroll worth it? Integrate Wise and QuickBooks

How does QuickBooks Payroll work?

QuickBooks Payroll functions as an integrated payroll service within the larger Intuit ecosystem. It automates many of the payroll processes that traditionally consume hours of small business owners' time.

Once you set up your company's payroll information, including employee details, salary rates, and working hours, QuickBooks Payroll calculates each employee’s paycheck.

This includes deductions for:

• taxes
• benefits
• other withholdings

It complies with tax laws, ensuring the tax tables are current and forms are available and ready for filing.

The software integrates with QuickBooks' accounting suite, meaning payroll expenses are automatically synced with your books, simplifying account management. It offers features like direct deposit and employee self-service portals.

See the Best Banks for Small Businesses >>

QuickBooks Payroll costs and plans

QuickBooks Payroll offers versatile pricing tailored to your business needs, whether a small startup or a growing enterprise. You can get it as a bundled package with QuickBooks Online or a standalone service if you’re content with your current accounting software.

The service breaks down into three distinct plans:

Payroll Core

The foundational tier costs USD 45/month with an additional fee of USD 6 per employee per month¹. This plan provides a robust full-service payroll system complemented by automatic payroll runs, 1099 e-file and pay for contractors, expert support, and next-day direct deposit for quick employee payment processing.

Payroll Premium

The next level takes it up a notch. It costs USD 80/month and USD 8 per employee per month¹, building on the Core plan’s offerings. Added features include:

• same-day direct deposit
• time tracking integration
• round-the-clock support
• HR support center

Plus, it comes with an expert review of your payroll setup to ensure everything is in order.

Payroll Elite

The top-tier option is best suited for businesses seeking the most comprehensive service. For USD 125/month and USD 10 per employee per month¹, it includes all the features of the previous plans and goes further.

It offers hands-on help with setting up your payroll, project management tools, tax penalty protection in case of filing issues, and your very own HR advisor to navigate the complexities of human resources.

Looking to save?

Connect Wise and QuickBooks>>

Pros and cons of QuickBooks Payroll

Using Quickbooks for payroll comes with its advantages and drawbacks. Understanding these can help you gauge whether it aligns with your business requirements. Here's a quick rundown:

Pros

• Integration: Seamlessly connects with QuickBooks Online, providing an all-in-one solution for accounting and payroll.
• Ease of use: Boasts a user-friendly interface that simplifies payroll processing, even for those with little accounting experience.
• Automatic tax calculations: Calculates, files, and pays local, state, and federal taxes automatically, reducing the chances of errors.
• Direct deposits: Offers fast direct deposit options, allowing for next-day payments under the Core plan and even same-day pay under higher tiers.

Cons

• Cost: QuickBooks can be expensive compared to some free payroll software, especially for businesses with a large staff due to its per-employee fee structure.
• Limited customization: While it works well for standard payroll processes, there may be scenarios where more customization is needed.
• Upcharges for features: Essential features such as same-day direct deposits and expert HR support necessitate higher-tier plans, leading to increased costs for small businesses that need these options¹.
• Dependence on QuickBooks ecosystem: If you're not already using the accounting software, you might not get the full range of benefits QuickBooks plus payroll offers regarding integration and synched data.

Remember, while payroll with QuickBooks is a popular option, its value can vary. The size of your business, payroll complexity, and whether you already use or plan to use other QuickBooks products will all factor in.

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Save Time and Money On Overseas Payments With Wise Business

Wise Business can help you save big time on international payments.

Wise is not a bank, but a Money Services Business (MSB) provider and a smart alternative to banks. The Wise Business account is designed with international business in mind, and makes it easy to send, hold, and manage business funds in currencies.

Signing up to Wise Business allows access to BatchTransfer which you can use to pay up to 1000 invoices in one go. This is perfect for small businesses that are managing a global team, saving a ton of time and hassle when making payments.

Use Wise Business >>

Some key features of Wise Business include:

• Mid-market rate: Get the mid-market exchange rate with no hidden fees on international transfers

• Global Account: Send money to countries and hold balances in multiple currencies, all in one place. You can also get major currency account details for a one-off fee to receive overseas payments like a local

• Access to BatchTransfer: Pay up to 1000 invoices in one click. Save time, money, and stress when you make 1000 payments in one click with with BatchTransfer payments. Access to BatchTransfer is free with a Wise Business account

• Auto-conversions: Don't like the current currency exchange rate? Set your desired rate, and Wise sends the transfer the moment the rate is met

• Free invoicing tool: Generate and send professional invoices

• No minimum balance requirements or monthly fees: US-based businesses can open an account for free. Learn more about fees here

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QuickBooks Payroll reviews

Let’s dig into actual user feedback from two major software review platforms, G2 and Capterra.

G2

Rating: 3.8/5 (62 reviews)

Users on G2 are mixed on the value of QuickBooks, with some reporting issues with the customer support and price.

Kyle S., a validated G2 reviewer, says it’s “good if you are ‘all-in’ on QuickBooks.” He explains:

“In my opinion, the best thing about QuickBooks Payroll is its integration with other QuickBooks products. It made it easier to manage timesheets, invoicing, and expenses.”²

Capterra

Rating: 4.5/5 (844 reviews)

Things are much more positive on Capterra, where QuickBooks Payroll has received nearly 600 5-star ratings.

Shannon, the owner of a retail business in the US, puts it plainly when asked to describe any cons⁴:

“Nothing. I love this software. I highly recommend everyone uses it.”

Looking to save?

Connect Wise and QuickBooks>>

How to do payroll in QuickBooks

Doing payroll in QuickBooks is designed to be a straightforward process, streamlining what can often be a complex task. Here’s a basic guide to walk you through how to handle payroll using QuickBooks⁶:

1. Set up your payroll account

Before you start, ensure that your QuickBooks Payroll subscription is active. You can add it directly through QuickBooks online or on the website.

Navigate to the payroll module and complete the initial setup by entering your business and employee information, including tax details and any benefit/deduction information.

2. Enter employee details

Add each employee by filling in personal details, tax withholdings, payroll schedules, pay rates, and bank information for direct deposit.

3. Run payroll

Access the ‘Employees’ section and select ‘Run payroll’. Enter the current hours worked for each employee, taking into account any overtime, sick leave, or bonus payments. QuickBooks will automatically calculate paychecks based on the hours and rates provided, including appropriate tax withholdings.

4. Review and approve

Check the payroll summary to verify that all the information is correct. Once reviewed, you can approve the payroll, and QuickBooks will process the payments via direct deposit or by providing you with the necessary information to write checks.

5. Tax filings and payroll forms

QuickBooks Payroll typically handles tax calculations and filings, either quarterly or annual. For supported forms like W-2s, the software will auto-populate the necessary information.

Is QuickBooks Payroll worth it?

Ultimately, whether QuickBooks Payroll is worth it depends on your business needs, your comfort with QuickBooks products, and the value you place on the convenience it adds.

It might justify its cost if you're heavily embedded in the QuickBooks ecosystem and value integration. On the flip side, if budget is a major constraint, other less expensive products are available.

Integrate Wise and QuickBooks

Are you using QuickBooks for accounting and other core business tasks? We've got great news for you: Wise Business integrates with QuickBooks.

This means you can send low-cost international payments and keep your books together with ease!

Steps for the Integration
1. Log in to your QuickBooks account
2. Go to the Banking tab
3. Click Add Account in the top right corner
4. Search for Wise. You might find more than one option for different countries. They should all work, but you can choose the one of the country your business is registered in
5. Log in to your Wise account
6. Choose the account you want to connect to QuickBooks
7. Choose the balances you want to connect to QuickBooks — it’ll default to the currency of the country you chose in step 4, but you can change this
8. Choose the date you want QuickBooks to pull transactions from
9. Click Connect

Connect Wise and QuickBooks>>

Trustpilot: Great¹³ after 200,000+ reviews
Over 300k+ businesses customers use Wise globally

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Sources:

1. QuickBooks - Payroll Pricing
2. G2 - QuickBooks Payroll
3. G2 - QuickBooks Payroll Review
4. Capterra Reviews
5. Capterra Reviews
6. QuickBooks Payroll - Help