Square has just announced another tool for small businesses – but instead of dealing with how they get paid, it's looking to help with how they pay their employees.
Square has officially launched Square Payroll. Currently, the service is available to anyone in California – and Square says it's looking to expand into more states soon.
The company first began testing Payroll in private beta last October.
Here's what you'll get with Square Payroll:
Timecards are integrated: Hourly employees can easily clock in and out from the register and their hours are automatically imported into the system.
Taxes are taken care of: You don’t have to sweat your federal and state payroll taxes. Payroll automatically handles the stuff you want to make sure you get right, like withholdings, payments, and filings.
Easy setup: Onboarding is quick and simple for both you and your employees. And say goodbye to voided checks — employees can set up direct deposit and access their pay stubs online.
Affordable and transparent pricing: No need to call us for a quote or worry about what extra fees you'll pay. Our pricing is clear: $20 a month plus $5 for each employee paid that month.
Open to all: Although we built Payroll with hourly employees in mind, it works just as well for salaried staff. And anyone can use Payroll, even if you’re not processing payments with Square.
"If you’re getting paid, payday is great. But if you’re the one who’s actually managing the payroll, the whole thing is way less fun. Existing payroll solutions are complicated, expensive, and typically built for large businesses with salaried employees. They’re so confusing, in fact, that people regularly mess up the whole process," says Square.
It's clearly focused on servicing hourly employees, but it will work for salaried employees as well. It costs $20 a month, plus $5 for every employee. you don't have to use Square for payments to use Square Payroll.