When most of us think of a pay stub, we think of that little piece of paper that comes with our check, or is part of our check. This piece of paper is very important to all types of companies and businesses, no matter what size they are or how many different divisions of employees they have. But what really is a pay stub? And with that, what is a pay stub generator? Is it something you should have as a business owner or manager? Let’s take a look at those questions below and try to secure some answers.
What is a pay stub?
In essence, a pay stub is simply a piece of paperwork or document that is strictly related to an employee’s paycheck. A pay stub is something that outlines what the pay was for that particular week, two weeks or month, as well as what taxes and deductions where taken out of the employee’s check. You’ll also find either the worker’s hourly rate or salary rate on the pay stub as well, helping to make it is comprehensive as possible. If your employee also receives medical insurance and/or holds a 401K through your company, those two points will also be shown on the pay stub, as well as their pay, current for the year thus far.
Generally speaking, the pay stub is attached to the check itself. This can change however if your employee holds a direct deposit of some sort. If that’s the case, then the pay stub will be attached to a slip of paper detailing the amount of money that was direct deposited for that pay period.
What is a pay stub generator?
A pay stub generator, or a pay stub maker is a program in which you can easily put all of your company’s and employee’s information into to form your wanted pay stub. Pay stub generators do vary a bit, but most of them contain spots for certain valuable and basic information that most, if not all, pay stubs have printed onto them for the employee to keep a record of. When designing a pay stub in a pay stub generator, you’ll find that it’s easy to do and tends to take very little of your time as the generator itself already has multiple different templates within its system for you to choose from. You’ll then find that all you have to do after saving the initial template is to change the information needed per pay period. This has to do with the amount of hours worked if hourly and the rate per hour if it changes due to a rate increase. You’ll also be able to supply the information needed for a bonus and overtime.
Is a pay stub generator something you should have?
In a short answer, yes a pay stub generator is something that every business should have. This is because of the ease that they provide on pay day, helping to make your life as a business owner or manager that much easier.
Pay stub generators are a very popular option used in today’s business word. Whether you have a few employees or several more, you’ll find the ease of a pay stub generator one to delight about.