Computing Resources Inc. Brings Payroll Expertise to Intuit's New QuickBooks Online Payroll Service

Business Wire, Sept 15, 1998

RENO, Nev.--(BUSINESS WIRE)--Sept. 15, 1998--Computing Resources Inc. (CRI), the nation's fourth-largest payroll services provider, has been selected by Intuit(R) Inc. (NASDAQ:INTU) as the exclusive partner to provide new, integrated, Internet-based payroll services to QuickBooks(R) users through the QuickBooks Online Payroll Service.

The QuickBooks Online Payroll Service, which Intuit announced today, is designed to provide QuickBooks 6.0 and QuickBooks Pro(R) 6.0 users with the added benefits of traditional payroll services including payroll tax, direct deposit services, and payroll data backup.

The seamless, inexpensive services makes it easier than ever for QuickBooks users to offer direct deposit benefits to their employees and eliminate payroll tax deposits and filing burdens.

"This is the only integrated payroll solution available to QuickBooks customers and we believe this will change the payroll service industry paradigm for years to come. This is the first time a payroll service has been directly integrated with the industry's No. 1 small business accounting software and it creates a unique alliance in payroll services," said Ranson Webster, chairman and CEO of CRI.

Chase Manhattan Bank will act as Intuit's originator for all electronic transactions processed through the Automated Clearinghouse (ACH). CRI will collect and transmit the transactions for any business using the service.

Intuit, maker of the market-leading QuickBooks, Quicken(R) personal finance software and TurboTax(R) tax preparation software, chose Reno-based Computing Resources Inc. to handle the payroll servicing after a comprehensive nationwide search.

"We are extremely excited to be offering this service to our more than 2 million QuickBooks customers," said Rene Lacerte, group product manager for the QuickBooks Online Payroll Service. Starting today, small businesses can have peace of mind that their payroll will be accurate and timely and that they are in compliance with government regulations such as EFTPS. Best of all customers don't have to learn anything new to use the service."

The QuickBooks Online Payroll Service is specifically designed to manage the hassle and responsibility of all payroll tax filings, tax deposits, W2 processing and offer affordable direct deposit services to QuickBooks 6.0 and QuickBooks Pro 6.0 users.

The service also provides users with a toll-free number to get expert advice from CRI's team of payroll and tax professionals. CRI customer service operators will be on-line and available for counseling during regular business hours.

"In the event of tax notices or penalties, CRI's Payroll Tax Department corresponds directly with federal and state taxing agencies on behalf of clients. We take the responsibility for resolving the problems, therefore saving our clients time, money and frustration," Webster said.

Once a customer is enrolled in the service, doing payroll is easier than ever before. Each pay period, at the click of a mouse, all direct deposits and payroll taxes are paid automatically. All QuickBooks Online Payroll Service transactions are confirmed electronically and data is protected with a personal identification number and security password from within the QuickBooks 6.0 software.

"The QuickBooks Online Payroll Service will offer customers a substantial price reduction when compared to traditional payroll services," Webster said.

The partnership is expected to expand CRI's market share significantly. CRI is a privately held company that employs 330 and garners $32 million in annual revenue.

About CRI

Computing Resources Inc. is headquartered in Reno with 10 branch offices throughout the West and Midwest. CRI was founded in 1978 after purchasing a small service bureau from Control Data Corp. and then it evolved to provide payroll and payroll tax processing services for small to middle market companies. Through strategic alliances with more than 50 banks and partners. CRI serves over 22,000 businesses. The company has pioneered on-demand phone-in payroll services and 24-hour, 7-day-a-week availability.

CONTACT: Computing Resources, Reno

Jane D. Schaeffer, 702/858-8880

or

DRGM Public Relations

Don Vetter, 702/686-7777