When you hear the name Intuit, you probably think tax preparation software but the company businesses have been trusting for years to track their business expenses and taxes has expanded beyond software and into payroll services. Their expansion into payroll processing has added another strong competitor to leading companies Paychex and ADP.
Intuit was founded in 1983 to modernize the pencil-and-paper accounting process used by most people at the time. With growing personal computer adoption, Inuit recognized that a strong accounting platform would help with more effective tracking and reduce reporting errors. Their products, Quicken and QuickBooks, became leading accounting software solutions by 1988.
Another five years later, in 1993, Intuit went public. They utilized their increased funding to make several key acquisitions, boosting the quality of their Quicken and QuickBooks products while also growing their tax preparation software, Turbo Tax.
Expanding with Intuit Payroll Services
In 1999, Intuit decided to expand their offerings to small to medium size business owners by adding payroll processing services after acquiring Computing Resources, Inc. Payroll processing was integrated as an option in the QuickBooks application but would eventually be opened up to businesses who don’t use Intuit’s products.
In 2009, Intuit bolstered their position as a top payroll company by acquiring PayCycle. Since then, the company has continued to expand their online payroll offering.
Best-Selling Payroll Company
Intuit now claims to be America’s best-selling payroll company based on aggregate customer count, serving over 1 million small businesses. Their growth has been fueled by a desire to “make payroll service simple,” resulting in a web-based application that lets employers quickly and easily pay their staff.
Payroll Software Options
Intuit currently offers three levels of payroll service — Basic, Enhanced, and Full Service. Each option integrates with QuickBooks, allows for direct deposit, and comes with expert support.
Compare to Paychex
If you’re considering outsourcing your payroll services to Intuit, you should get a comparative quote from Paychex, another leading payroll company to make sure you get the best deal. Contact a Paychex payroll expert at 1-855-651-6819 today.