By David Roberts

One of the key objections to using the QB services, such as payroll, merchant services, etc has been that ‘it’s just another added on expense’ or, as one of my clients put it, ‘they nickel and dime you to death’.  Here’s the truth, you are going to pay for these services anyway! Whether it’s having Intuit handle your payroll tax filing or handling your Merchant services, you still, bottom line, need these services! Might you be able to find a service cheaper? Perhaps, but let’s look at the advantages of using QB to do this for you.

Merchant Services

1. It’s easier to reconcile.

Other companies batch together the day’s Credit Card totals, which ordinarily wouldn’t be a problem except for the three times a week occurrence that one of those CC doesn’t process in time. Then the bookkeeper has to go through each transaction to see which one (two or three) are missing and why. Using QB merchant services all transactions are posted to the correct accounts upon the CC being deposited into your account. The fees are automatically deducted and correctly assigned to the appropriate account in QB. The clients I have switched to QB have also reported a faster turn around time on payments into their account which improved their cash flow.

2. Reduces Errors in Transfer of Information.

When you are using another provider for Merchant Services, the bookkeeper must manually enter all transactions from the Merchant Services report increasing the chances of a mistyped number or another innocuous mistake that can cause hours of heartache in searching for the reason for the discrepancy. The automatic flow through also reduces errors in assigning accounts. Many business owners set up accounts for CC fees, but do not always consistently assign the appropriate fees to the appropriate category. QB Merchant Services eliminates these and other errors.

3. The Cost of Using QB Merchant Services by Purchasing from a Certified Pro-Advisor.

Purchasing your Merchant Services using a Certified Pro-Advisor can save your company hundreds if not thousands of dollars a year. A Pro-Advisor can get your swipe rates down to 1.9%, so whether you have a small number of large transactions or a large number of small transactions, you still save money! Visit www.homesoonaccounting.com for the link on Intuit Products and Services for your Business.

4. Web-Store Service compatible.

Many businesses are turning to the internet to help them increase their sales. QB Merchant services has a compatibility with many of the current Online Store services and the sales automatically flow through to your QB file, again putting an end to errors and double work by your bookkeeper. Chances are you are using one of the companies that are already compatible with your QB.

5. Flexibility

There are three different payroll plans available to you. Assisted Payroll does it all, however, if you insist on filing your information yourself QB has cheaper options available to you. The least expensive one starts at under $10. a month. Again, use the Pro-Advisor discount that’s available by purchasing the plan from a Pro-Advisor.

Payroll

1. Flow through.

One of the main advantages to QB Payroll services is that your FICA, Social Security and Medicare all flow through to the correct QB account. Using another service may look cheaper, however, consider the number of man hours that it takes to:

1. Reenter identical information – and risk errors.
2. Fill Out the Required Tax Forms – and get them correct.
3. Hurry to Avoid Penalties and Fees – and get them mailed.

You only have to experience one late fee to realize how important the state considers those unemployment forms and the filing of the Federal forms.

2. Quickbooks Files For You.

As long as you are entering the information in time onto your QB software, QB handles the rest. Filing of forms, direct depositing of checks, etc. No more trips to the bank or department of revenue to handle business you could have handled from your desk at work or home.

3. Cost.

The cost of using QB Merchant accounts many times will beat those of an ADP or other provider. But in times that it doesn’t, the convenience and man hours saved will more than make up for the extra cost. And again, purchasing Payroll services from a Quickbooks Pro Advisor will give a substantial discount as opposed to ordering straight from Intuit’s website.

See www.homesoonaccounting.com for more information.

I hope this article has been informative and helpful to you. If you should have any questions simply email me at homesoonaccounting@earthlink.net and I will be happy to help.