Paystubs are the payslips issued by the employers to the employee and mention complete details about the employee’s working hours, salary, tax deductions, and monthly earnings.
Most companies provide paystubs to their employees in manual document form. However, with the latest advancements in technology, more employers are using a digital paystub generator which automatically generates a paystub for the employee.
It can be used to keep track of the paid taxes and helps in providing the tax record when filing the annual tax return.
Payroll Software for Paystubs
Most employers who operate by transferring workers’ salaries through digital channels and online bank transfers use a specialized payroll processing system.
This payroll software allows employees to log in to their accounts and access their paystubs. It also provides the option to print the pay slip so that the employee can use it for their records.
Is it necessary to provide Paystubs to your Employees?
Some states make it mandatory for companies to issue pay stubs to their employees as it helps in keeping the workers’ records. Other states do not consider it necessary, but Fair Labor Standards Act (FLSA) deems it necessary to at least keep some paystubs for the record.
Online Paystub Creator
Online paystub maker facilitates employees to make paystubs for their records by mentioning the required information. However, it is recommended to check stub creator beforehand to ensure that it is working correctly and the paystub is not fake.
Difference Between Real and Fake Paystub
An unhappy employee can use an online generator to create a paystub with the wrong information. A false record may create problems for the employer.
Alternatively, some paystub makers are not legitimate and provide false pay slips, which are inconvenient and useless for the company. Make sure to check the reviews before paying to get the best tool for your needs.
Benefits of Paystubs for Employees
Some benefits of paystubs for employees are the following:
- Employees can submit multiple paystubs while applying for a loan as they will help in providing a complete record of earnings over time.
- If the employee wants to make a large purchase, then paystubs can provide insight into whether they are capable of making the payments.
- Paystubs act as proof of income for people who want to rent an apartment. The pay slips will make them more reliable to the landlord as it shows that they are financially capable of paying rent on time.
- Paystubs also help employees get their compensation in case of an accident. The payroll would provide expected earnings to the employer, and they will make compensations accordingly.
Paystubs help in keeping records of employees. Various online generators are currently available, but it is advised to make sure that the maker is legitimate.
Fake paystubs can land you in trouble with the government and have serious consequences. User reviews and Testimonials can help you choose the right tool.
Employees can use these pay slips for their loan applications, tax files, and rental agreements.