Square today launched a new product called Payroll and as the name suggests it’s meant to simplify payroll management. The company says that existing solutions are geared more towards large businesses with salaried employees and not towards small businesses where people are generally paid by the hour. Thus Square Payroll is geared more towards small businesses that particularly employ people who are paid by the hour.
Square Payroll features integrated timecards so hourly employees can easily clock in and out from the register with their hours automatically being imported into the system. Payroll will also automatically sort out federal and state payroll taxes so businesses don’t have to worry about things like withholdings, filings and payments.
Square’s new product is easier for both business owners and employees, setting it up is easy and employees get the option to set up direct deposit and even access their pay stubs online.
There’s no calling Square to get a quote for Payroll, pricing is simple for this product, it costs $20 per month plus $5 for each employee paid that month.
The company does point out that even though Payroll was developed with hourly employees in mind it works just as well with salaried employees. Square is currently offering Payroll for businesses in California but it plans to roll it out to more states in the near future.