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J
JD1000
November 17, 2019
Question

Do I need payroll add on for QuickBooks Desktop Pro?

  • November 17, 2019
  • 1 reply
  • 0 views

I always had my accountant do my bookkeeping, but I'm thinking of getting QuickBooks Desktop Pro to do the bookkeeping myself, but I'm not sure if I need the payroll add on. My business only has a single employee which is myself.  I pay myself by transferring funds from my business chequing account to my personal chequing account.

 

I know at the end of the year, I'll need to generate a T4 slip and summary to submit to the CRA. Is this done through the payroll add on too? My accountant always did this for me, not sure if I should do this myself or continue to let my accountant do this.

 

 

 

 

 

 

1 reply

L
LauraAB
November 18, 2019

Hello ballerguy!

 

It's awesome to hear that you'd like to take on some of the work yourself and it's a good idea to get a sense of what you're getting into. While I always recommend continuing to work with an accountant, QuickBooks Desktop is great for allowing you to handle some of the work without one. I'll go over how payroll works for QuickBooks Desktop.

 

QuickBooks Desktop's Payroll module is an add-on service that comes with its own fee. With it, you'll be able to record your payroll and produce monthly and year-end forms such as PD7As and T4s. You do have the option to use workarounds outside of the payroll module to record your payroll, but the forms require the add-on to be produced. Here's an article that goes over what the program can do for you in terms of your T4s: T4 and Relevé-1 forms

 

I recommend taking a look at the following page, which outlines the QuickBooks Desktop plans with and without payroll: QuickBooks Desktop Pro and Premier plans

 

What it'll come down to is evaluating whether the convenience of the service is something you can fit in your budget.

 

I'm here if you have more questions. Have a great rest of your day!

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