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Features, Pricing & More – Forbes Advisor

Features, Pricing & More – Forbes Advisor

Square Payroll is a product from Square, which offers several management solutions for small businesses. This US-based software is available to users in the US and Washington, DC. It has everything a small business needs to run payroll, from tax credits to direct deposit, deductions and more. You also don’t have to pay any extra fees to use any of the features.

Square Payroll offers two payment plans:

  • Pay employees and contractors: $35 per month plus $5 per employee paid
  • Pay contractors only: $5 per month per person paid

Payroll processing

Square Payroll will help you calculate the wages of contractors and employees, including new hires and departing employees. You can pay with manual paychecks, direct deposit, or the Square Cash app. Existing users of this payroll service love that it supports multistate payroll and multiple payroll rates.

You can also schedule payments weekly, bi-weekly or bi-monthly and enter hourly rates or wages, so you don’t have to enter workers’ details each time. However, please note that workers receive their payments after five business days of payroll processing.

Performance management

For an additional fee, Square Payroll will help you meet your employee and contractor benefits needs. Square partners with Guideline401(k), AP Intego and SimplyInsured to help you sync all required benefits due to your workers without having to track them manually.

Such benefits include:

  • Health, dental and vision insurance
  • Paid sick leave
  • Paid time off (PTO)
  • Pension funds

Tax support

Square Payroll further assesses compliance with state taxes and withholding to provide you with a complete payroll process free of future hassles with government agencies. The Service uses relevant data to calculate each employee’s and contractor’s federal, state or local taxes. Square Payroll generates, files, and sends forms, such as 1099s and W2s, on your behalf. Your employees can also download and sign their tax forms and view their payslips on their mobile devices.

Management of employees

Square Payroll’s Square Team app will help you manage your employees and simplify payroll processing. It allows your team members to set up online accounts, where they can update their personal information, fill out and submit W-4 forms, manage their paychecks and bank accounts, and check their tax information.

Managers can also create and share work schedules, and employees and contractors can clock in and out so the app tracks hours spent to determine payments and calculate overtime, PTO and other earnings.

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