We were recently made aware of a change that Intuit is making for businesses that use QB Online Payroll; specifically, Intuit is planning on sharing payroll data with Equifax beginning this fall. It is our understanding the reason behind the change is to allow small business employees to obtain easy access to employment and income verification services when they wish to apply for a loan or a line of credit. The experts at AZ recommend changing your QuickBooks privacy settings before intuit shares your data.
Intuit says affected customers that do not want this new service included must update their preferences and opt-out by July 31, 2021. Otherwise, they will be automatically opted-in. According to Intuit, customers can opt-out by following the below steps:
- Sign In to QuickBooks Online Payroll.
- Go to Payroll Settings.
- In the Shared Data section, select the pencil and uncheck the box.
- Select Save.
If you would like guidance regarding Intuit’s privacy settings or have other questions about QuickBooks, contact our team of experts.