Square is taking on a new sort of transaction for small businesses: employee payrolls.
Simply called Square Payroll, the tool is meant to make it easy for the person managing a payroll to get money out to his or her employee, especially those paid by the hour.
Hourly employees can easily clock in and out right from the register and their hours will be automatically imported into the system. Payroll also takes care of all your federal and state taxes, including withholdings, payments and filings.
Though the focus is on hourly workers, it can also be used for salaried staff. The service costs $20 a month, plus $5 for every employee paid – and you don’t need to be processing payments with Square to try it out either.
Square Payroll entered private testing in October. It’s currently only publicly available in California, but Square says it’ll expand to other states soon.