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DSMINC1
July 2, 2024
Question

So tell me how much-carried interest is qb going to earn on the millions of dollars being floated between pulling and paying could 45 days. QB is a blood-sucking parasite

  • July 2, 2024
  • 2 replies
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    2 replies

    4
    4Gal
    July 2, 2024

    You can use 3rd party payment processors to integrate with QB.

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    DSMINC1Author
    July 2, 2024

    I pay for payroll, I pay for every check cut processing fee,  Now they are going to take money that I may need other things up to 45 days before it is payable.  Futa a year!   This is wrong!  Yes I will do It manually like I was doing in QB desktop before being forced to migrate too online with its constant pay this  3% gets money quicker, help me here pay here pop-ups.  QuickBooks is like Hotel California.   I have been with QB for over 25 years and it costs more more more every year.   With qb online lost a lot a lot like hey like a spell checker. multiple email lines  Now all on one long line no CC BCC  without cutting and pasting. Sometimes you have to send invoices to different emails. I used a memo note before to handle this. Just a few things.  The migration messed up a lot of fields,  a lot of extra work cleaning up the trash it created.     

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      ShyMae
      July 2, 2024

      I recognize how important every penny is for every business, DSMINC. I acknowledge the impact of this situation and your sentiments.

       

      We have updated our automated tax handling process for QuickBooks Online Payroll. Instead of automatically withdrawing and paying payroll taxes when due, we'll automatically withdraw taxes every time payroll is processed or when there's a change in what you owe. 

       

      Here's what you need to know about automatic tax payments:

       

      • Whenever there is a change in the amount of taxes owed, we will automatically withdraw the necessary amount to cover it. It will occur when payroll is processed, when a past payroll is adjusted, or when a tax rate is updated.
      • You'll see how much money you need to fund your payroll taxes and direct deposits in Preview payroll.
      • We'll email you a receipt and post the amount in the Payroll tax center for each withdrawal.
      • You are authorizing Intuit to hold the payroll tax funds until they are due to the relevant taxing authority, and you understand that no interest or earnings will accrue to you for any of the money held by Intuit.

       

      You can read this article for more information: Changes with automated tax withdrawals in QuickBooks Online.

       

      If you wish to turn off this automatic withdrawal, follow these steps:

       

      1. Hover over the Gear icon. Select Payroll Settings.
      2. From the Taxes and Forms section, turn off the Automate Taxes and Forms.
      3. Hit Save and Done.
         


      Once the automated taxes are turned off, the change will take effect on the first day of the following month. Any funds withdrawn for tax periods on or after the effective date will be refunded.

       

      For future reference, you can generate a payroll report to get a list of your employees and a summary of your company's payroll expenses.

       

      You can leave a comment by clicking the reply button below if you need clarification or information regarding payroll and taxes. I'll always be here to assist you, DSMINC. 

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      DSMINC1Author
      July 4, 2024

      I had a thought,  Is QB Intuit holding this money in escrow and cannot be used for anything else? Since they pulled the money early they assume 100% responsibility and as a fiduciary, I would think the law requires it be held in escrow.   Or since they started a bank and loans and get your money quicker using it to capitalize their bank with free money floating out there until it is due to be paid and I guess in the millions. Are they making money on it?

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