Nómina de dos días
Two-day payroll allows you to submit payroll up to 2 business days from your team’s pay date, giving you more time to run payroll, off-cycle and contractor payments to get your team paid sooner.
Two-Day Payroll Application
To get started with two-day payroll:
Sign in to the Payroll Settings tab of your online Square Dashboard.
Under Pay Period, click Apply now.
Follow the application prompts to provide the requested information.
Note: Applications are only reviewed after you send your first W-2 pay run. Your first pay run needs to be processed on the four business day window. Once you’ve sent your first run, we’ll review your application within two business days.
Employee pay day is five business days after the end of the pay period. To pay your employees on time with two-day payroll, you must submit payroll by 8 PM PT two business days in advance of the pay date.
For example, if your pay period ends on Sunday and your employees are to be paid the following Friday, you must submit payroll by 8 PM PT on Wednesday for your employees to receive their pay on time.
If payroll is processed after 8 PM PT on the third business day after the end of the pay period, employees will receive pay two business days after payroll is processed.
Off-Cycle and Contractor Payments
For off-cycle and contractor payments, your team members will receive pay two business days after you submit the payment.
Square Payroll Holiday Pay Outs
Square Payroll’s pay dates are only affected by bank holidays if the pay date itself is scheduled on a holiday or if the holiday occurs in between the cut off time for processing and the pay date.
If a bank holiday occurs one business day prior to your pay date, payroll must be processed one business day earlier.
If a bank holiday falls on a scheduled pay date, the pay date will be moved one business day earlier and therefore payroll must be processed one business day earlier.
Direct Deposit Limit
If you are approved for two-day payroll, you will be provided a direct deposit limit. You can find your two-day payroll limit in your Payroll Settings tab.
The direct deposit limit applies to the amount we debit from your bank account to pay out employees via direct deposit (net pay for direct deposits). After a payment has been submitted, your available limit will be reduced by the total net pay for direct deposit from that run until the business day following that payment’s pay date. If you need to send a run with an amount that exceeds your remaining available limit, the payment method for your team members will be converted to manual check.
An example of a business running payroll with a $10,000 direct deposit limit and a pay period that ends on a Friday, Saturday or Sunday:
Submit payroll on Monday, Tuesday or Wednesday for a Friday pay date.
Assuming the run’s total direct deposit amount was $7,000, the available direct deposit limit would become $3,000 ($10,000 - $7,000) until the following Monday, one business day following the pay date.
On Monday, the direct deposit limit will be increased by $7,000, leaving an available limit of $10,000.
An example of a business sending an off-cycle payment with a $10,000 direct deposit limit:
Submit off-cycle payment on Monday with a Wednesday pay date.
Assuming the run’s total direct deposit amount was $7,000, the available direct deposit limit would become $3,000 ($10,000 - $7,000) until the following Thursday, one business day following the pay date.
On Thursday, the direct deposit limit will be increased by $7,000, leaving an available limit of $10,000.
If your limit is not high enough for your needs, please contact us and we are happy to re-evaluate it. You may need to provide additional information.
In the event a debit of your bank account is unsuccessful, we reserve the right to disable two-day payroll, which will result in employees receiving their pay 4 business days after processing payroll.
If you have additional questions on Square Payroll’s pay dates and payout schedule, contact us.
If your application for two-day payroll is denied, you can re-apply to have the feature enabled on your account 6 months from the initial application date.