QuickBooks Delivers Enhanced Payroll Services for Small Businesses
New Direct Deposit Offerings Allow Employers to Pay Contractors Faster and Employees on Same Day
Getting workers paid is often one of the biggest pain points for small businesses. More and more, both traditional and contract workers expect to be paid quickly – an impact of the on-demand economy and workers being paid on a continuous, as-they-go basis. In light of this, Intuit (Nasdaq: INTU) today announced enhanced offerings to complement its existing payroll service solutions and give small businesses a smarter way to do business. New features include Contractor Direct Deposit, designed for employers in the changing landscape of the gig economy, and Same Day Direct Deposit, enabling small businesses to pay employees faster than ever with QuickBooks Full Service Payroll.
Contractor Direct Deposit is a new feature in QuickBooks Payroll that supports businesses who want to pay their independent contractors the same convenient way they pay their employees – via direct deposit. Following the launch in January, where Intuit introduced new features that can take the pain out of preparing 1099s for both small business owners and independent contractors, this new payroll service provides the tools and technologies to ensure contractors are paid on time and accurately, giving small business owners confidence in their finances. With each payment, a record is kept up to date in QuickBooks, so when tax time rolls around preparing and filing is lot easier for employers. Contractor Direct Deposit was designed to make the payroll process easier for small business employers and to help save them time.
“Navigating the complicated process of payroll can be daunting to a small business owner – from understanding how to categorize a worker to making sure they stay cash-flow positive – businesses often struggle with this process,” said Laurent Sellier, Vice President, QuickBooks Payroll. “This is why QuickBooks is championing small businesses by providing them with more options for managing and paying both traditional employees and contractors, giving them confidence when managing payroll with all types of workers.”