Intuit QuickBooks Payroll Analysis: $8.5B Raised
What is Intuit QuickBooks Payroll?
Intuit QuickBooks Payroll offers a construction payroll service that helps businesses manage payroll and timesheets specifically for the construction industry. This service allows users to stay organized whether they are on-site or working remotely. Key features include automated payroll calculations, compliance with labor laws, and the ability to handle multiple worksites. The service is designed to simplify the payroll process, ensuring that construction companies can efficiently manage their workforce and meet regulatory requirements.
Founded
1983
Industry
Payroll
Deployment Type
Cloud-based
Recent Venture Round Amount
$4,500,000,000
Pricing
The pricing model for Intuit QuickBooks Payroll services, specifically for construction payroll, is as follows:
- Core Plan: $6/month per employee (active or on paid leave) and $6/month for contractor payments via direct deposit.
- Premium Plan: $9/month per employee and $9/month for contractor payments.
- Elite Plan: $11/month per employee and $11/month for contractor payments.
How much Intuit QuickBooks Payroll raised
Angel Round - $151K
September 1984Lead Investor: Not publicly disclosed
Series A - $12M
September 1991Lead Investor: Kleiner Perkins, Sierra Ventures, Technology Venture Investors
Post-IPO Equity - $6.7M
January 2011Lead Investor: Not publicly disclosed
Post-IPO Debt - $4B
September 2023Lead Investor: Not publicly disclosed
Post-IPO Debt - $4.5B
January 2025Lead Investor: JP Morgan Chase
Investment Geography
Intuit QuickBooks Payroll offers construction payroll services that are available nationwide across the United States. They support multi-state payroll, allowing businesses to manage payroll for employees in different states. This includes handling state taxes and compliance for various regions.
Customer Success Story
Customer reviews for Intuit QuickBooks Payroll, particularly in the context of construction payroll services, reflect a mixed level of satisfaction. The overall ratings vary across platforms, with G2 showing a rating of 3.8 out of 5 stars, while Capterra users rated it 4.4 out of 5 stars. Positive feedback often highlights the software's ease of use, effective payroll tracking, and good integration with QuickBooks Online. Users appreciate features like automated payroll calculations and the clarity of pay breakdowns. However, there are significant concerns regarding customer service, with reports of long wait times, miscommunication, and issues with tax calculations and syncing errors. Some users have experienced data loss, which raises reliability concerns, especially for larger businesses. Overall, while many users find the software functional and user-friendly, there are notable complaints about customer support and technical issues.
Target Clients
Intuit QuickBooks Payroll primarily targets small to medium-sized businesses, including those in the construction industry. Their services are designed to help these businesses manage payroll, track employee time, and handle HR tasks efficiently. QuickBooks Payroll offers features tailored for construction companies, such as job costing, compliance with labor laws, and the ability to manage multiple pay rates for different projects. This makes it particularly suitable for construction firms that require detailed tracking of labor costs and project expenses.
Key Features
- Manage Labor Costs: Create multiple pay rates for the same worker or crew members and track expenses to get labor costs for each project.
- Pay Contractors: Track contractor payments and assist in filling out 1099 forms for contractors.
- Track Time and Create Schedules: Manage multiple timesheets, approve time entries, and edit, publish, and share schedules with the team.
- Construction Reporting: Run reports to analyze overtime costs and view project and labor costs by crew and independent contractors.
- Direct Deposit: Offer same-day or next-day direct deposit to employees.
- Workers’ Comp: Provide workers' compensation powered by Next, ensuring compliance and automated, pay-as-you-go premiums.
Integrations
QuickBooks Time supports several key integrations, including:
- HR Systems: Integrates with various HR platforms for managing employee data and benefits.
- Payroll Systems: Direct integrations with QuickBooks Online, QuickBooks Online Payroll, QuickBooks Desktop, and ADP RUN for seamless payroll processing.
- Invoicing and Expense Tracking: Integrates with tools for invoicing and expense management, enhancing overall financial management.
- Time Tracking: Works with other time tracking tools to streamline employee time management.
Customer Support Options
- Phone Support - Users can contact the support team at 1-888-766-7956 for assistance.
- Live Chat - Available from Monday to Friday, 6 AM to 6 PM PT, and on Saturdays from 6 AM to 3 PM PT.
- Email Support - Users can reach out via email by using the Help function within the software to get assistance.
- Help Center - QuickBooks Time provides a comprehensive help center where users can find answers to common questions and access various support articles.
- Support Hours - The core support hours are Monday to Friday, 6 AM to 6 PM PT. For premium and elite support, assistance is available any time, any day.
User Reviews
- User-Friendly Interface - Many users appreciate the intuitive design, making it easy for both employees and managers to navigate. One user noted, "QBO time is very user friendly for employees to track their time and for managers to get insights into project timelines."
- Effective Time Tracking - Users find it beneficial for managing remote staff and tracking project timelines. A review stated, "Using QuickBooks time I can easily manage remote staff and I can get to know where the staff is occupied and on which task they are working."
- Reporting Features - The ability to generate reports and download data is frequently praised, with users mentioning that it simplifies the process of tracking time spent on various clients. **Negative Feedback:**
- Design Quirks - Some users have pointed out that while the interface is generally easy to use, there are certain design quirks that can be frustrating, especially for busy managers.
- Limited Features - A few reviews suggest that QuickBooks Time may not be the most comprehensive time tracking solution available, indicating that it lacks some advanced features found in other software.
- Inconsistencies - Some users have reported inconsistencies in the software's performance, which can affect reliability.
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Financial Overview
$8.5BTotal Raised
Angel Round$151K
September 1984
Investors: Not publicly disclosed
Series A$12M
September 1991
Investors: Kleiner Perkins, Sierra Ventures, Technology Venture Investors
Post-IPO Equity$6.7M
January 2011
Investors: Not publicly disclosed
Post-IPO Debt$4B
September 2023
Investors: Not publicly disclosed
Post-IPO Debt$4.5B
January 2025
Investors: JP Morgan Chase
