What is Square Payroll and how does it work?
Square Payroll is a comprehensive payroll service that automates employee payments, tax filings, and compliance for small to medium-sized businesses. As part of Square's integrated business ecosystem, it seamlessly connects with Square POS systems to import timecards, tips, and commissions directly into payroll processing.
Benefits of Integrating Square Payroll with Abacum
• Automate payroll data flow into FP&A models - Sync employee costs, tax liabilities, and contractor payments directly into Abacum's planning platform without manual exports
• Build accurate headcount planning scenarios - Connect actual payroll costs with workforce planning models to forecast hiring needs and budget impact
• Track labor costs against revenue in real-time - Combine Square's payment processing data with payroll expenses for instant unit economics and margin analysis
• Streamline monthly reporting cycles - Eliminate manual reconciliation between payroll systems and financial planning tools with automated data synchronization
• Create department-level budget visibility - Allocate payroll costs across teams and projects automatically for precise budget vs. actual reporting
• Enable faster month-end close - Reduce closing time by automating accrual calculations and payroll journal entries into your FP&A workflows
