Square POS: All You Need to Run a Business
Square Payroll Review: Features, Plans, Prices, and More!
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Square Payroll is an affordable, inclusive, and easy-to-use payroll software for businesses of all sizes. It is specially designed to help businesses that rely mostly on hourly employees. Its basic and most obvious use is the tool that automatically sends employees their paychecks. But in addition to that, it can also be used as a management tool to help you manage scheduling and time tracking, tax withholding and filing, and the administration of all benefits, including health insurance and retirement savings.
Square Payroll at a Glance
Square is an all-in-one provider for payment services and other business-related tasks and processes. It is most known for its payroll software system, launched in 2015. Square Payroll offers many tools, including hourly worker management features, unmatched support, in addition to integrating third-party financial services. You may be already using one of Square's other products, like its point-of-sale software system. In such a case, you can easily integrate it into your payroll software for better labor management and sales ecosystem. You will find that your payroll software covers every major and important aspect of payroll administration, things as small as setup, to pay runs, reports, and even taxes.
What makes Square Payroll fare against its competitors is its transparent pricing, flexible payment options for employees, its affordable contractor-only plan, and many other impressive features and functionalities. For example, Square Payroll gives employees the ability to receive a portion of their paycheck in advance of payday when needed. And in addition to that, if you use other Square products, like the Square Card, the POS system, or the company's debit card, then you will be given access to even more features.
How Square Payroll Works
Square Payroll offers multiple tools and features to help businesses with all payment-related processes. But before getting into its features and benefits, we will go over how the whole thing works.
Payroll basics
Square offers four subscription frequencies for its payroll services: monthly, weekly, two pay periods per month, or every two weeks. Based on your location, Square Payroll will calculate taxes and send year-end W-2s. There is a standard pay date of five business days after the payroll date. However, employers can customize this option and choose to pay employees immediately, 24/7. This can be done by sending the funds from the employer's Square Balance account to the employee's Cash App.
Benefits
If you pay additional fees, you can offer your employees extra benefits either through Square's partners or through other providers you have selected yourself. And even if you do not sponsor or offer any workplace benefits, your employees can still get health care benefits and retirement savings options directly from Square Payroll as long as their employer uses Square Payroll and is willing to pay for these add-ons.
Team management
The moment you sign up with Square Payroll, you will be granted access to Square's Team app and all the labor-management features included in the Team Plus plan, which in other cases would require you to pay a monthly fee. Square's Team app can be used for many purposes; employees can submit their availability through it, managers can create schedules, employees can receive their own copies of the schedules right away, and much more. The Team App also gives your employees the ability to check their earnings for a certain pay period and can even let them access a portion of their paycheck before payday. This is especially useful if your business is in the service industry, where schedules and pay can fluctuate, as it ensures everyone is paid correctly and on time.
Square Payroll Tools and Features
Square Payroll offers many tools and features to help your business improve and streamline its processes. Below are only some of these tools:
Integrations
Square Payroll seamlessly integrates with its other tools, like the Square POS, Team Management, and more. In addition to its own tools, Square Payroll also integrates with a list of third-party software systems to help you get the best out of it and maximize your payroll software benefits. One of the most important integrations it allows is QuickBooks.
Stress-free payroll taxes
Square Payroll gives you peace of mind, knowing that all of your taxes would be paid accurately, and on time. Square Payroll calculates and withholds payroll taxes every time you run payroll. It will pay these taxes to your state employer tac agency and federal government when they are due. You are also not charged anything extra for this service.
Simple team management
Square Payroll allows you to sync working hours, review all of your sales and revenue, manage permission, and access authorizations, all with the Square Team Management integration. You can easily create and publish shift schedules, keep track of your team's hours, automate your team's tip pooling process, assign your team commission rates for services and sales, and do much more all in relation to team management.
In addition to these tools, Square Payroll offers a long list of functionalities and benefits that will fit your business needs perfectly. Below are the reasons why Square Payroll is the right one to go for:
- Import tips and commissions from Square POS.
- Get customer support from payroll specialists.
- With no annual commitments, you can cancel at any time.
- Multistate payroll so you can pay your remote workers.
- Automate time tracking by importing your Square POS timecards, Square Team App, or third-party partners.
- Get transparent prices so you don't get any unpleasant surprises.
- Pause billing whenever you want so you don't pay for a service that you don't use.
- Pay using direct deposit, checks, or Cash App, all with no extra charges.
- Provide your employees with pay-as-you-go workers' compensation insurance.
- Manage your team and run your payroll anytime and from anywhere with the Square Payroll App.
Square Payroll Plans and Prices
Square Payroll offers two plans with different types of subscriptions and different prices. The two plans are:
Pay Employees & Contractors
This plan starts at $40 per month; $35 as a monthly subscription fee + $5 monthly fee per person paid. With this plan, you get unlimited pay runs per month and flat pricing with the ability to cancel at any time. In addition to that, you get the following:
- No additional fees
- Full-service payroll
- Payroll for employees and contractors
- Automatic payroll tax calculations
- All tax filings and payments
- Multistate payroll
- Live support for account setup
- Timecards and employee app
- Track and import tips and commissions
- We mail W-2s and 1099-NEC forms
- Pay by check, direct deposit, or Cash App
- U.S.-based customer support
- No commitment; cancel anytime
- Unlimited pay runs per month
- Free seasonal inactivity
Pay Contractors Only
This plan costs flat pricing of $5 per month per paid person. You can cancel at any time without being charged any fees, and you get unlimited pay runs per month. In addition to that, you also get:
- We mail all 1099-NEC forms
- U.S.-based customer support
- Pay by check, direct deposit, or Cash App
- Free seasonal inactivity
- All features included, with no hidden fees
- No commitment; cancel anytime
Customer Support
Getting answers to all of your payroll-related questions is so easy with Square Payroll, as you are provided with a support center containing an extensive library of resources, such as the frequently asked questions page, the blog page, the many guides, and much more.
In case you do not find the answer you are looking for in the help center, you can go ahead and contact a live agent to get quick and comprehensive answers. You can reach their customer support team by calling their toll-free number at (855) 700-6000.
Final Words
Not only is Square Payroll one of the best payroll software systems in terms of the quality of services it offers you, but it is also exceptional in the prices it demands, as it offers inclusive plans for very affordable prices and subscriptions.
If you own a business and are looking to outsource your payroll processes, then Square Payroll is the right one for you. You should go ahead and entrust your payroll with Square and focus on what matters for the growth of your business.
FAQs
Square POS software executes customer payments and for a good or service. They also have additional features like inventory that help you manage your business.
Square POS supports everything from micro-businesses to large organizations.
Yes, Square POS is a great option in this regard. They have a free plan with a low processing fee, you get a free card reader, and you can connect it to any device you have available.
The basic plan is free; all you have to pay for are the credit card processing fees.
Their headquarters are based in the United States in San Fransisco; though they are currently expanding to other countries.
Any Android, iOS mobile device can be turned to a Square POS system.
Yes, Square POS is a great option if you want to move online.
Square Payroll offers its services to companies and customers of all industries and business sizes. Typically, it has the following customers: freelancers, large enterprises, mid-sized businesses, nonprofit organizations, public administrations, small businesses, and more.
Square Payroll offers two plans with different payments and different coverage levels: 1. you can either pay contractors and employees and this plan starts at $40 per month; $35 as a monthly subscription fee + $5 monthly fee per person paid, or 2. You can only pay contractors and this plan costs flat pricing of $5 per month per paid person.
Yes, Square Payroll offers integrations with its own tools, like Square POS, as well as integrations with third-party software like QuickBooks.
Yes, Square Payroll calculates and withholds payroll taxes every time you run payroll. It will pay these taxes to your state employer tac agency and federal government when they are due.