NetSuite’s Opportunity to Fill Payroll Quarterly State Reporting

NetSuite provides two levels of payroll:

  1. NetSuite Basic Payroll
  2. NetSuite Premier Payroll

For the do-it-yourself organization, NetSuite’s Basic Payroll offers Quarterly Federal Reporting through a convenient generation of official Federal Government Form 941 in Adobe Acrobat PDF format.¬†¬† However, each state has its own requirements for quarterly payroll reporting.¬†¬† In California, that form is the DE6 and is available in PDF form¬†for manual fill-in-the-form practices.¬†¬† Netsuite’s opportunity is to provide state reporting for each of the 50 states like they do so well for Federal 941 reporting.¬† Within NetSuite’s enhancement request portal, we see there is a request (#134883) for¬†a State payroll reporting feature¬†– it should be just a matter of time before this valuable feature becomes available.

We believe that most small to mid-size businesses don’t act as do-it-yourselfers and will go with the NetSuite Premier Payroll option because of the lower exposure to penalties that will be incurred with missed timely government reporting.¬† In this enhanced service offering, the same payroll tax engine is used to process payroll as NetSuite Basic Payroll — however, behind-the-scenes and on the company’s behalf, service-providers report all government obligations on a timely basis.¬† As such, there is no concern for Quarterly State Reporting under this Premier service offering as it is all included.

It is important to remember that each of the NetSuite’s Payroll offerings¬†fully integrate all payroll detail information within the core financial system.¬† This solution eliminates the need to perform journal entries or imports that is commonly required (and can be problematic) with solutions from ADP, Paychex or other third party payroll processors.¬†¬† NetSuite provides a superior solution from both the employer and employee perspective.¬† Each employee can log into the employee portal where they can see all paycheck and expense report detail.¬† This information is exactly what the accountants see because it comes out of the same platform.¬† This superior form of information visibility should minimize questions, issues, and possible errors between employees and the company’s bookkeepers / accountants.¬† NetSuite goes one step farther by providing a mechanism to allocate salary and payroll expenses automatically to various departments or projects independent of traditional coding techniques; a feature typically only seen in more robust solutions.

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Marty Zigman

Marty is Southern California's NetSuite expert and leads a team of senior professionals at Prolecto Resources, Inc. He is a former Deloitte & Touche CPA and has held CTO roles. For over 25 years, Marty has produced leadership in ERP, CRM and eCommerce business systems. Contact Marty to setup a conversation.

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