Editor's Note: Intuit's acquisition of PayCycle is complete. We recommend reading our complete review of the new Intuit Online Payroll which we've chosen as the best online payroll service provider.
Intuit is best known for its accounting software products, notably Quicken and QuickBooks. In addition to those programs, the company offers a number of online payroll services that can assist businesses can use for processing payrolls and seamlessly filing payroll tax returns as well as making the required periodic tax deposits. Data from the payroll services can be exported directly to QuickBooks, thus avoiding the need for duplicate data entry and preventing errors.
As we were nearing the conclusion of our reviews of online payroll services, it was announced that Intuit had made a definitive offer to purchase PayCycle. There is clearly high potential for strong synergy as the complementary firms join forces and take advantage of the strongest points of each. We’ll keep you posted as developments occur.
The plan which most closely resembles the other online payroll services in our ratings is Intuit Assisted Payroll. Whereas many other online payroll services have the ability to export data to QuickBooks, eliminating the need for duplicate entries, QuickBooks serves as the source of data for Intuit Assisted Payroll. Payroll data that has been entered into QuickBooks can be transmitted to Intuit so that they can then handle tax compliance matters, direct deposit transactions and the like. The cost for this service is $60 per month plus $1 per employee per pay period. Direct deposit of net pay costs $.99 per employee per payroll and there is also a $49 one time set up fee.
Intuit also offers a couple of additional options that could be attractive if more or less assistance is required. For companies with more than fifteen employees, QuickBooks Assisted Advantage Payroll could be preferable. The service starts at $115 monthly but does not have additional charges for direct deposit, multiple state filings or W-2 preparation and filing.
For customers who want a self service plan that includes many of the features of an online payroll service at a low cost, Intuit offers Intuit Online Payroll. This program doesn’t require use of QuickBooks, though data can be exported to the accounting program. Rather, it is an online application that allows for easy calculation of payroll and payroll taxes. The program does provide for direct deposit of net pay at no additional cost and also allows for local printing of checks. While the program calculates tax information, the primary difference between this and other evaluated programs is that the filing of tax documents and making of periodic deposits is left to the customer. The normal price for this service is $29.95 per month; at present, the service is free for six months to new subscribers and then just $9.99 per month thereafter.

Ask & Answer