Payroll processing is easily one of the most challenging aspects of running a small business. Payment processor Square now offers a new way to pay employees, without all the legwork.
Today (June 30), the company unveiled Square Payroll, its new payroll service that simplifies the payroll process for small businesses. Designed as an alternative to complicated payroll solutions, this new service aims to help businesses save time and money by making it easier to pay hourly employees and avoid costly payroll mistakes.
Here's what Square Payroll has to offer and how it can help small businesses. [Best Payroll Services for Small Business]
Square Payroll comes with everything small business owners need in order to quickly and easily pay employees. It doesn't have any unnecessary features that are typically available in payroll solutions, but that only larger companies need, making it simpler and faster to use.
Square claims that Square Payroll can cut down payroll processing times to just minutes instead of hours. This is because the program comes with automated features like integrated time cards and tax calculations. For instance, when employees clock in and out of their shifts, Square Payroll can automatically register and calculate their hours, eliminating the need for any manual data entry or pay calculations. It's especially a more accurate and efficient system for businesses that still have employees manually write down their hours on a time sheet.
The service also takes care of taxes, handling aspects such as withholdings, payments and filings. This means business owners can avoid the hassle and headache of doing the math themselves and potentially facing hefty fines due to human error.
Although Square Payroll is designed for small businesses, it also comes with additional big-business features like payroll for salaried employees, direct deposit, employee dashboards to access pay stubs online and easy onboarding for new staff.
Square Payroll is available to all businesses, even if they don't use Square as a payment processor. The service costs $20 per month plus $5 per employee per month. At launch, Square Payroll is currently available in California and will soon expand to other states. Find out more about Square Payroll.
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