What is a Pay Stub?
What is a pay stub and why is it important? A pay stub is a physical document that outlines an employee’s paycheck. A pay stub is also known as a pay stub or payslip. A pay stub proves your source of income and documents that taxes and other deductions are being accounted for.
Some of the most common information included on a pay stub is your personal information such as your name and address. Since it is documenting a paycheck, it will include the dates of the pay period and the rate at which you were paid. It also includes the amount of compensation you would receive before and after taxes.
You can find the pay stub attached to a physical paycheck. While there is no law making it mandatory for employees to receive a pay stub, most organizations will give you one. However, the employer doesn’t have to provide a physical document. In fact, most employees receive their paychecks and pay stubs from an online pay stub company.
The old fashion way of small trade and business owners to pay their employees was through a simple business checkbook. As time evolved so has the demand for a more advanced method. Employees want proof that the exact amount of taxes and deductions are being accurately recorded along with their pay. If you want to make a pay stub for your employees it is critical to have a proper software that is reliable.
What Tools Do I Need to Make a Pay Stub?
Now that you can answer the question, “what is a pay stub?” and understand the importance of providing pay stubs to your employees and staff, the main question now becomes how to make a pay stub. Handwriting is one option, but no business owner wants to burden themselves with such work when they have a certain amount of employees. Another reason is many banks and other companies you may want to affiliate your company with will not accept handwritten pay stubs.
- To help you make a pay stub there are many types of accounting software and programs made accessible to help a business owner. Finding a free or low price template online to fulfill your payroll stubs need is not that difficult. However, the software must work with the application you’re using to provide the information for your employees and staff every pay period.
- There are a great number of websites that provide templates for a business owner to make a stub for his or her employees. Some websites allow you to choose from a variety of online templates to cater to a business owner’s needs. After deciding which template is best you can look to make a pay stub by accurately filling out the information of your staff for the pay period desired.
When you make a pay stub all employee information should be accurate and precise in accordance with your payroll