A artefact barrage from QuickBooks seeks to accumulation from one of the capital advancing trends in payments now: accepting accomplishment to absolute contractors as bound as possible.
QuickBooks on Thursday (May 31) said it is now alms “Contractor Absolute Deposit” as a new affection in QuickBooks Payroll. The apparatus supports businesses “who appetite to pay their absolute contractors the aforementioned acceptable way they pay their advisers – via absolute deposit,” the aggregation said in a columnist release.
These are exciting times for the gig economy, absolute contractors and the acknowledged and acquittal issues absorbed to those areas.
Uber and Lyft, for instance, face subpoenas in California that seek added advice about their advisers — the acknowledged move follows a cloister accommodation in that accompaniment that makes is harder for companies to allocate workers as absolute contractors. Additionally, some companies are gluttonous accumulation in alms absorb administration and acquittal accoutrement advised to bigger serve firms that await on gig and freelance workers.
The new QuickBooks apparatus gives “small business owners aplomb in their finances,” according to the columnist release. “With anniversary payment, a almanac is kept up to date in QuickBooks, so back tax time rolls about advancing and filing is lot easier for employers.”
Intuit, which owns the QuickBooks accounting software, estimated that “43 percent of the U.S. workforce will be fabricated up of self-employed contractors by 2020,” according to the company’s statement. “In fact, 30 percent of U.S. baby businesses pay at atomic one self-employed architect annually.
Earlier this year, in almost accompanying news, StaffKeep announced that QuickBooks users can admission its casework through the App Store to accumulate amount onboarding. The aggregation facilitates online achievement of new appoint paperwork, acknowledging cyberbanking signatures of key abstracts like IRS W4 forms.
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The weakest articulation in any accumulation chain, decidedly beyond borders, can be payments. Brian Jamieson, CEO and co-founder of Centtrip, tells PYMNTS in the latest copy of the Faster Payments Tracker that leveraging faster, alike real-time payments can advice corporates abate the aerial FX costs and the accident of delayed payments. With the trillions of dollars of cross-border transaction volume, Jamieson says that befitting those accumulation chains able by optimizing payments beyond them is now essential.
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