Pay stubs, also known as check stubs, are one of the most important documents within your business.
These are the documents provided to the employees within any company whenever they are paid to show how much they have earned. While your workers may only be interested in the figure they are taking home at the end of the month, paystubs are so much more than this.
In this guide, we are sharing everything you need to know about check stubs and how to provide the most accurate documents to your team.
What Is A Paystub Used For?
Check stubs are given out to employees when they are paid by a company to show what they have been paid for and how much.
However, check stubs hold a lot more information than most people think because they also include tax deductions, as well as information regarding annual leave and insurance payments.
This information is vital not only for the employee, who needs to know what they have earned and how much they get each month after deductions but also for the company as a whole.
Companies need to have a record of where the money is going, and this includes paying staff for their work, as well as insurance policies and coverage which may be included. All of this information can be found on a check stub, and these are given to each employee.
Due to how much information is stored within them, paystubs are required as proof of income in a range of circumstances. This is why employees need to have access to their documents, but the company also needs to have a record of them too.
From taking out a mortgage to changing job roles, check stubs are needed as proof of income in all kinds of capacities and therefore need to be accurate.
How To Make Check Stubs
The easiest way to provide your employees with accurate paystubs is to use a check stubs maker program.
This is a specialized software that can be used online to create check stubs for every employee.
As these are important documents, they need to be accurate and provided on time every week or month. Getting them prepared can take a lot of time which your company may not be able to afford, which is why using payroll processing software like this is so useful.
Within minutes you can generate check stubs for all your employees and provide digital or physical versions. Once your company information is provided, all future check stubs are generated automatically, and edits are done easily, as this all takes place online.
A check stub creator is one of the most useful tools for businesses because it makes payroll processing easier to complete without the additional work or time that usually goes into this task. By generating paystubs instantly online, you have more space in your workday schedule to work on other tasks or goals that need your attention.