A paycheck stub is proof of salary for an employee for a specific period. Many institutions also require employed individuals to provide a paystub to ensure stable employment. For instance, banks and landlords require paycheck stubs before granting a loan or offering property on rent.
If you own a start-up, you would want to know how to make employees’ pay stubs. Here’s how you can generate employee pay stubs.
How to Create Pay Stubs Online?
Why look for templates when you can quickly create pay stubs using advanced software? You can replace traditional accounting and manual calculation with online pay stub generators. It can save time for your payroll department and accounting department.
Though the information required may vary in different states, here’s what a general pay stub generator requires:
- Employer information includes company name, address, identification number, and contact number.
- Employee information includes the employee’s name, address, identification number, and social security number.
- Employee hourly wages. Remember that the rates may vary based on holidays and shift timings.
- Number of hours worked during a pay period.
- Overtime hours worked, if any.
- Paid time off.
- Bonuses received during a pay period.
- Employee’s gross salary that includes total pay before tax and other deductions.
- List of deductions such as Federal, state, Medicare, local benefits, social security, and FICA taxes.
- Provisions for previous wages due to any error accrued in that pay period.
- Net pay that includes home take-away salary after tax deductions and contributions.
Mistakes to Avoid
Mistakes are expected during the calculation of net pay. Many employers make the following mistakes that lead to inaccurate paycheck stubs:
Though it’s simple, many employers enter incorrect or incomplete information. These mistakes can lead to inaccurate pay stubs during a payment period.
Calculation mistakes are common. You might state an incorrect number of hours an employee has worked. Luckily, you can avoid this mistake with our pay stub software, as it prevents faulty computation.
Get Check Stubs Online in 5 Minutes!
Our handy online tool is your best bet If you’re looking for a legitimate pay stub generator software that can create employee pay stubs instantly. At Paystubmakr.com, we help you make a payroll check stub for your employees in three simple steps. Enter, preview, and print your pay stub in 5 minutes!
With our online pay stub generator, you can avoid the aforementioned mistakes and save time to focus on the core aspects of your business. Let us take care of the calculations and technicalities of generating payroll stubs.
Get in touch with us today for further queries!