At the end of each month, the human resource department sets aside time to calculate each employee’s salary, wages, and deductions. Most businesses create pay stub forms manually and that usually takes hours. However, to make it fast use a free pay stub template generator with a calculator to provide detailed information about an employee’s paycheck. In essence, precise pay stubs are vastly important for employees as this is needed to prove their ability to pay or take out a loan. It may also be used in some cases as evidence of employment. Are some of your employees new or just finished their onboarding? Before we proceed, let’s answer these questions and more like how to generate pay stubs and check stubs with verification.
What is Pay Stubs?
A pay stub is a financial record that shows an employee’s gross income during a specific pay period, including wages, commissions, bonuses, and tips. Pay stubs also list itemized withholdings for taxes, such as Medicare and Social Security (FICA), and deductions for items like health insurance premiums and employer-sponsored retirement plans. Historically, pay stubs were attached to employees’ physical paychecks, which is how they got their names. Now, pay stubs are usually offered digitally for employers that use a paperless payroll service available online to download when necessary.
How Do I Get Pay Stubs if I Have Direct Deposit?
You can generate pay stubs if you have direct deposit by accessing them online or contacting human resources. If you have direct deposit, you should be able to access your pay stubs online by logging into your company portal. Pay stubs are usually generated every pay period and sent out with paychecks.
How to Choose a Pay Stub Generator
Here are the various things to consider when choosing a paystub generator for your business.
#1. Price
One of the major goals of how to generate pay stubs generator might be to cut down on prices. This is done to ensure you are not spending too much depending on the size of your business. Paid generators typically cost between 10-15 dollars per paystub. However, you can get it for less with Paystubsnow.
#2. Dependability
Because of how delicate a pay stub can be, you need one that is accurate, fast, and reliable. You want to consider checking public reviews on a chosen generator before choosing them.
#3. Personalized
The ability to personalize a pay stub is crucial to every brand. Except, of course, you have no interest in branding. If you do, then look out for extra features. These include customizable themes, logos, and watermarks.
#4. Number of Employees
While the aim of using a generator is to save time, depending on your business size, you can discard the cost of getting a pay stub by using a template. If your employees are below 5, there is really no need to pay for a pay stub. You can totally create one manually with a template and have enough time to spare.
How to Generate Pay Stubs
There are several different ways an employer/business owner can generate professional pay stubs, depending on their needs. If the design of the pay stub is not significant and the employer wants more control over the information that will be included on the pay stub, they should use software such as Microsoft Word or Microsoft Excel. Also, no-cost web-based programs such as Google Docs and Google Sheets are other excellent options.
Guide on How to Generate Pay Stubs for Employees
The easiest way to generate pay stubs for employees is to use one of the best payroll software providers, accounting, or a pay stub generator. While it’s possible to generate pay stubs manually, it’s not really necessary. But, if you want to create pay stubs manually for W-2 employees, here’s the process:
- Start with the employee’s total gross pay for the pay period.
- Add deductions for taxes withheld (federal, state, and local if applicable, as well as FICA).
- Deduct the employee-paid portion of health insurance premiums.
- Deduct employee-elected retirement plan contributions.
- Add any other deductions (such as for other insurance coverages).
- Calculate net pay (the amount that goes on the employee’s paycheck).
After you generate a pay stub for an employee for a given pay period, attach that pay stub to the check (if you’re issuing a physical check). Or you can provide pay stubs digitally by email or through an online portal.
Pay Stub Generator Free
A pay stub is evidence of a paycheck issued to an employee. This is because it identifies information about the employee and their wage details. Unlike a check or a direct deposit which contains the net salary, a paystub provides important information about gross pay and deductions made from paychecks each pay period. Hence, certain state laws require some type of documented pay statement even though it is not mandatory by federal law.
In as much as, generating a pay stub can be a daunting task for many small business owners. It involves a lot of calculations, as well as keeping track of employee information and taxes. However, with the help of a free paystub generator, this process can be made much easier and more efficient, saving you time and money while serving your purpose.
Top Free Pay Stub Generator
Below are the top free pay stub generator suitable for businesses,
#1. Shopify
Shopify’s free paystub generator lets you create pay stubs and print them quickly online. The pay stub generator from Shopify is perfect for creating paystubs that look professional and can be published quickly and easily.
#2. Apple Pi Design
This is an easy-to-use free online generator that allows users to create professional pay stubs quickly and easily. With a simple and intuitive interface, users can input all the necessary information, including employee name, pay rate, hours worked, and deductions. The tool then generates a detailed pay stub that can be downloaded and printed.
#3. EZ Pay Stub Generator
EZ Paystub is a free pay stub generator where you can add business information, logo, brand colors, and images. The pay stub creator lets you manage your payroll while designing pay stubs with the correct fields and the perfect layout using their desktop software. In addition, the pay stub creator enables you to automate the payment calculation and design stubs in bulk for many employees.
#4. Wix Pay Stub Generator
This free pay stub generator tool from Wix lets you create pay stubs and customize them to your unique requirements. Like all other Wix tools, the online paystub maker is easy to use. The paystubs you make can be easily downloaded on your computer and filled in internally before printing them.
#5. Paystub Now
This paystub generator lets you create other payroll documents as well, like W-2 and 1099 forms. All you need to do is fill in all your employee and company information. Preview the document and check if it looks exactly like it should. Once you are happy with the way your paystub looks, you can choose to receive it at your email address.
Free Pay Stub Template With Calculator
Free Pay Stub template with a calculator is available with stub creator which is ready to download and use. This is because free check stub templates give you a clear idea of the exact format you will receive in generated pay stubs. As you get the privilege to choose the template of your choice, you can select the format in which your employees will receive the stub. Also, each paycheck stub template has a professional layout that closely classifies the way your stub details are reflected.
The sample of the free pay stub template with a calculator can be downloaded for reference. Also, the sample templates consist of a stub creator watermark which will be removed as soon as you pay for the same. Since you are providing value to your employees in the form of stubs, it is great that you select a favorable pay stub template for them. There are a lot of different pay stub templates that you can use to print your pay stubs. However, there are none that can do everything for you. You have to do all the calculations yourself or you have to use complicated software.
What is a Free Pay Stub Template?
A payroll check stub template is a pre-made fillable form where you can list all your employee’s earnings and deductions over a specific period of time. Templates usually come in different designs, so it allows the user to choose how they want their paycheck stub document to look. Nowadays, small business employers and independent contractors can instantly create pay stubs using an online fillable pay stub free of charge.
Factors to Consider When Choosing a Free Pay Stub Template With Calculator
Here are things to look out for when selecting free pay stub template,
#1. Format
Decide what you want or need it for, so you can decide which format to save your templates in. Do you need to send a soft copy of the document as proof of income? Then, save the pay stub in a PDF format. Do you need it to keep track of your income and tax deductions? Then, have it saved as an Excel file to edit and calculate?
#2. Personalized
With an online template, you can have it customized to make it look more professional. You can easily edit it to add your company logo and brand colors.
#3. Information
What details Do and Don’t you need in your fillable check stub template form? Is its job description, date hired, or garnishments? Edit the form field however, you want.
#4. Layout
A detailed or simple paycheck stub says a lot about you and your company, so make sure that if you or your employee needs it for something as important as a mortgage, you should use an appropriate template.
Can I Make Pay Stubs for Myself?
If you’re self-employed, you won’t be given a paystub like you would from an employer. Making a self-employed paycheck stub can be done in various ways and the process doesn’t take long. Providing that you have a recent check or bank statement, you can start making them.
Check Stubs With Verification
When verifying a prospective applicant’s employment history, you will most likely receive pay stubs and other documentation to confirm the information they provide. Preferably, applicants will provide accurate information on their income and employer, but this may not always be the case due to how easy it can be to create fake pay stubs online. For that reason, it’s important to know how to avoid fake check stubs using verification and financial documents during the tenant screening process.
What Does a Check Stub Look Like?
Check stubs include a person’s name and address, job title, gross earnings for a set pay period, total deductions, taxes, a pay summary, and information about their employer. The overall structure of check stubs with verification varies depending on the company, but they should all share the same details. But if you receive a pay stub that is missing key information, such as the employer or the person’s job title, then you may need to do additional research to confirm the information is accurate.
Check Stubs With Verification: Steps to Guide you
Here are three ways on how to check stubs through verification,
#1. Verify the Applicant Currently Works at the Company
There can be instances where an applicant can make up a company or list one they’re not a current employee at. Because of this, it’s advised to first confirm the company exists or request an offer letter with the applicant’s job description, pay rate, and official start date for check stubs using the verification method.
#2. Investigate the Numbers Total to Their Annual Income
A common mistake in fake pay stubs is adding pay amounts that do not total the annual income listed on their application. To investigate if the amounts listed on their application match, you can multiply the gross pay by 12 months for their annual gross income. Gross income does not include taxes or deductions, so it should generally match up.
#3. Seek Additional Information from the Company’s Human Resources Team
If you’re still unsure of the validity of an applicant’s employment or income, you can reach out to the current employer to speak with a human resources representative.
How Can I Get My Pay Stubs Online?
Ask your manager or the human resources department where you can locate them electronically. Typically, companies who house them electronically have them on a payroll service website which requires an employee login and password.
References
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