Square Payroll: Automatic tax filings, sick leave, timecard hours, and more—https://squareup.com/payroll
This video will go over how to sign up for Square Payroll if you are switching from a previous payroll provider or if you have been paying and filing taxes on your own. If you haven’t paid payroll taxes before, watch Square Payroll Tutorial: Getting started (for new businesses).
Switching to Square Payroll for existing business. This video will go over how to sign up for Square Payroll if you are switching from a previous payroll provider.
Here you will add your employer taxpayer information like your EIN, Business Type, Legal Business Name and Address. This information should match what your EIN is registered under.
At the bottom of the screen check the box if your are a semiweekly tax depositor. Selecting this box means you are required by the IRS to pay taxes semi-weekly.
Next, enter the bank account you’d like us to use for payroll withdrawals.
The next business day, Square Payroll will deposit and then withdrawal two small amounts to and from your bank account. Before you run payroll, we’ll ask you to confirm those deposits amounts.
Next, choose how often you want to pay your employees. Then select a date for your first pay period to begin. Don’t worry, you can change the pay schedule and pay period start if you need to before processing your first payroll.
Now let’s add your employees and choose how you would like to pay them. Here you can enter their First Name, Last Name and Payment Method. Employees paid by direct deposit will receive an email invitation to create a login, they will then to fill out their bank account and W-4 tax information. For Employees paid by manual check, you will be responsible for writing and delivering your own checks.
This screen asks if you are paying any of these employees for the first time. If so, we will file a new hire report on your behalf as soon as you have completed setup. If they are existing employees select no, I’ve paid all these employees before. In order to ensure accurate end of year W-2 reporting, we will now need to gather your employee’s year-to-date gross pay.
If you paid any employees this year who are no longer working for you, we need to collect some information from them, remember we will be generating their W2 forms at the end of the year. If you select yes, we will collect their Name and Addresses for each of the employees no longer working for you.
Next, we will help you transfer your Year to Date records over to Square. Please read the instructions that pertain to your provider. Simply download the requested reports and drag and drop the files into this screen. We now have all of your previous reports. If we have any questions we will proactively reach out to you.
Next you will be asked to authorize Square Payroll as your Reporting Agent. The information entered on this form must match what you’ve registered with the IRS.
Finally, review all the information you entered.
Congrats. You are all signed up for Square Payroll.