Benefits of Keeping Your Proof of Income or Pay Stub

Updated for 2020 by      By John Wolf


Why you better keep your pay stubs as a proof of income

The payroll department of every company provides payroll services to many small business owners and entrepreneurs. A professional payroll service provider keeps them informed about the latest updates and compliance with the payroll information. The State and Federal taxes of 2020 must be handled accurately and on time.

The employers need information from the workplace records followed by getting a completed payroll back from the payroll company, and then they are distributed. The pay stubs are the employees’ records from each pay period while the employer is busy in the business operations.

Employers may provide you with a pay stub. Commonly known as payslips or paycheck stubs. These stubs can be used as proof of income, providing details about your employer as well as how much money has been credited into your account in the given pay period after all the benefits and deductions 2020 have been taken out. Therefore, an ideal employee is the one who keeps the pay stubs for future reference. The pay stubs are seen as proof of employment as well as proof of income.

Benefits of pay stubs as proof of income:

  • Evidence of savings plan (through payroll deductions)
  • Payment of loan payments (through payroll deductions)
  • Payment of child support
  • Payment of wage garnishments
  • To secure a loan to purchase a home or vehicle.
  • To refinance a mortgage.
  • To obtain a credit card.
  • To obtain a retail store credit.
  • To be accepted as a tenant.
  • As proof of employment

When looking at the proof of somebody’s income, we either generally consider their bank statements, wages or tax statements, or pay stubs. Pay stubs are the most common proof of income considered by every party or organization. The stubs have the advantage of being familiar, and many applicants are already prepared to share their pay stubs with their landlords. Some lenders could also require that a pay stub is dated within 30 days of the date when you will apply to get the most recent evidence of your income.

Why should you consider pay stubs as a form of proof?

Typically, the pay stubs have a brand logo or a company’s logo on the top of them, be formatted to fit on smaller paper, and have numbers that follow patterns. For example, you can compare your social security withholding to gross income, and if the stub is forged, the numbers will either be random or very wrong.

How should you ask for pay stubs as proof of income?

You can ask for pay stubs in sequence for a time period you need to feel relaxed for hourly workers. An applicant with a varied schedule week-to-week might need to present six pay stubs before you get satisfied with a reliable measure of their average earnings. Check the dates on pay stubs for further assurance.

The only disadvantage of pay stubs is that they are rearward facing, and it’s hard to judge from an applicant’s past earnings whether they are still employed.

If you want to know how to get paycheck stubs online, visit

You can build your pay stub right now. It is an instant pay stub—a real check stub with your deductions and income. As soon as you provide payment, you can print it, download it, and we’ll email it to you to make sure!