Automating key processes
One of the best features offered by Square’s payroll offering is the automatic calculating and filing of tax payments. This covers local, state, and federal taxes. You will also have your payroll processes automated in a similar fashion. This means that timesheets, salary info, overtime, etc. will be automatically taken into consideration.
There is the option for the payments to be sent via paper check or direct deposit. The administration of health and retirement benefits couldn’t be easier and there are now even capabilities to provide on-demand payment to workers.
Simply interface for workers
Contractors and employees can create their own accounts as part of Square payroll. This allows them to always be able to access their payroll info. This includes tax info, pay stubs, benefits, and so on. They can update different info, such as their tax withholdings and direct deposit accounts.
Management of benefits
Small businesses are able to choose and manage different types of benefits packages for their workers. This includes the likes of retirement benefits and health insurance. The employer is able to set the number of deductions for the paychecks to cover the various benefits for a given worker. Employees will use their personal payroll accounts to sign up for the benefits, meaning that there will be no paperwork on the business owner’s end.
Regular releases of new features
Square is known for being very innovative and it is regularly releasing new types of payroll features to make the user experience even better. Recent improvements include on-demand pay and instant payments. Over time, it is likely that more and more great features will be issued by Square.