Intuit Introduces the QuickBooks Online Payroll Service.MOUNTAIN VIEW, Calif.--(BUSINESS WIRE)--Sept. 15, 1998-- America's No. 1 Accounting Software Can Now Automatically Manage Payroll and Direct Deposit Services for Small Businesses Intuit(R) Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :INTU INTU Intuit, Inc. (stock abbreviation, AMEX) ) today introduced a new online service that will provide automatic payroll and direct deposit management to users of QuickBooks(R), Intuit's best-selling small business accounting software. The service will be available to a limited number of QuickBooks users beginning this month and is expected to be widely available by December 1998. The QuickBooks Online Payroll Online Payrolls are services that collect information on hours worked, pay rates, deductions, and other payroll-related data from their clients and use that information to generate paychecks, payroll reports, and tax filings. The internet is a key tool in providing this service. Service is designed to manage the hassle and responsibility of all payroll tax Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. filings, tax payments, W2 processing, payroll data backup and direct deposits for users of QuickBooks and QuickBooks Pro. The service links directly into the payroll features of both QuickBooks 6.0 and QuickBooks Pro 6.0 and provides small business owners with an easy and inexpensive way to ensure timely and accurate payroll and direct deposit management. "Small business owners told us that doing payroll for their own small business was often too time-consuming and complicated. In fact, more than 1/3 of small businesses have been penalized pe·nal·ize tr.v. pe·nal·ized, pe·nal·iz·ing, pe·nal·iz·es 1. To subject to a penalty, especially for infringement of a law or official regulation. See Synonyms at punish. 2. by the IRS An abbreviation for the Internal Revenue Service, a federal agency charged with the responsibility of administering and enforcing internal revenue laws. for inaccurate or late payroll tax filings," said James J. Heeger, senior vice-president of the small business division at Intuit. "The QuickBooks Online Payroll Service was designed to eliminate the hassle and worry that so many small business owners feel when doing payroll on their own. The service also allows small businesses to offer direct deposit benefits to their employees easily and inexpensively." How the Service Works Customers interested in the service can get started by calling 1-800-332-4844 to receive an application number. Customers can then complete the application process directly from within the QuickBooks 6.0 or QuickBooks Pro 6.0 software. Customers can apply for both the Payroll and Direct Deposit services or can simply choose one of the services. Once a customer is enrolled in the service, performing payroll in QuickBooks is quick and easy; QuickBooks users simply enter their employees' hours into the software, click a button to send the data, and all payroll tax filings, tax deposits, W2 processing, and direct deposits are performed automatically from the customer's account at the QuickBooks Online Payroll Service Center. The Service Center then sends confirmation of the received payroll data back into QuickBooks. Employee paychecks (or direct deposit receipts) can then be printed locally from within QuickBooks. If customers need technical assistance, the service provides toll-free technical support to get expert advice from Intuit's team of payroll representatives. Data Transmission is Secure: Customer Satisfaction is Guaranteed Intuit has teamed up with industry leaders Computer Resources Inc. (CRI CRI constant-rate infusion. ) and The Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. so that all payroll and direct deposit processes are managed as efficiently as possible. Data transmission files are encrypted before being sent over the Internet. All payroll data is also protected with a personal identification number and security passwords from within the QuickBooks 6.0 software. If the customer is not satisfied within the first 90 days of the service, Intuit will refund all customer fees to the customer. In addition, Intuit will pay any payroll tax penalties assessed by federal and state governments caused by processing errors. System Requirements To be used efficiently, all computer software needs certain hardware components or other software resources to be present on a computer system. These pre-requisites are known as (computer) system requirements and are often used as a guideline as opposed to an absolute rule. and Pricing Customers who wish to apply for the service must be using QuickBooks 6.0 or QuickBooks Pro 6.0 and have an Internet connection. The estimated cost for a small business with 5 employees is $30.00 per month for payroll services and $15.00 per month for direct deposit services (assuming the small business pays their employees twice per month). About Intuit Intuit Inc., a financial software and Web-based services company, develops and markets Quicken, the leading personal finance software; TurboTax, the best-selling tax preparation software; and QuickBooks(R), the most popular small business accounting software. Intuit's Quicken.com Web site offers a complete set of financial news, information and tools, including the leading mutual fund and insurance sites. Intuit's products and services enable individuals, small businesses and financial professionals to better manage their financial lives and businesses. Intuit, the Intuit logo, Quicken, QuickBooks and QuickBooks Pro are registered trademarks and/or registered service marks of Intuit Inc. in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries. CONTACT: Intuit Inc., Mountain View Jeff Larsen, 650/944-5106 jeff_larsen@intuit.com or Manning, Selvage selvage - chad & Lee, New York Lee is a town in Oneida County, New York, United States. The population was 6,875 at the 2000 census. The Town of Lee is northwest of Rome, New York. History The Town of Lee was formed from the Town of Western in 1811. Wendy Schechter, 212/213-7062 wschecht@mslpr.com |
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