A pay stub can go by many names, including payslip, pay advice, or a paycheck stub. This document is used to show an employee that their direct deposit paycheck has been processed or else it is attached to the physical paycheck itself. This gives an employee a physical record of the payment made to them from an employer, something that can be of assistance if there are any disputes about taxes, wages, or anything else involving pay.
PAY STUB FORMS
For small businesses, a better option than software is usually a pay stub template form. If the business only has a small number of employees, there is not as much trouble involved in filling out pay stubs and therefore there is no reason to purchase automatic accounting software nor to hire an accounting firm to handle payroll.
Paystub forms can be found online for free downloads. There are many available templates that may or may not be most suitable to the needs of different businesses, but any employer can find what they need fairly easily. After the template has been downloaded, an employer needs only to fill it out for their specific employees and print or email the stub.
HOW TO MAKE A PAY STUB
Pay stubs do not have a specific required format, but in order to include all the necessary information in an organized manner, many companies choose to use a pre-set format or a pay stub maker. You can get this sort of format online, offered by various legal dealers, or you can get software that will assist you in making paycheck stubs and other paperwork documents.
Automated accounting software for businesses is capable of creating pay stubs any time a paycheck is sent out from the company funds. This is a convenient way to have the process completed, as there is no requirement to input any amounts manually. Working with an accounting firm yields similar results as they have the necessary software that includes a pay stub maker to automatically produce these stubs based on wage, tax, and deduction figures in the system.
Online Pay Stub Forms
Employers in many countries are legally required to give pay stubs to their employees, although the information required to be listed on the paycheck stub varies from country to country. In general, most pay stubs contain the gross pay from that pay period, deductions made for taxes, and other monies that were legally deducted by the employer. Many will also include optional deductions which the employee has asked to have deducted, such as for their insurance plan, pension, or otherwise.
Besides this information, most employers like to include the year to date amount of wages earned somewhere on the statement. This can help you to keep track of your finances more easily as well as your wages from your employer.
Starting a small business means being the Jack of All Trades. You’re the president, the CFO, the secretary, the manufacturer, the customer service, and the janitor. Then comes the magical day when you’re able to start hiring other people to do some of these tasks, and while it does take some of the responsibility off your back, it then adds a brand new title to your already growing resume: Human Resources. Hiring, firing, and delivering paychecks to your employees.
That’s right: Your employees expect to get paid. How are you going to do it? Write them a check out of your personal account? How are you going to account for their taxes? Their personal time? Their benefits?
If you’re smart, you’re going to create your pay stubs online.
Creating pay stubs online is incredibly easy, cost-effective, and efficient. With a slew of online services to aid in creating your pay stubs online, there is little reason not to ease the burden of one of your many small business responsibilities. Creating a pay stub online reduces the risk of costly accounting mistakes, reduces the amount of time and frustration trying to reconcile all of the various taxes or PTO calculations, and best of all, creating pay stubs online will give your business a sense of professionalism that is lost when you simply write a check by hand.
Want to learn more about how to create pay stubs online? Check out some of these online merchants and small business aids: