Did you realize that as a business owner you are required to issue pay stubs to all of your part-time and full-time workers in a timely manner? It’s true. All employees have the legal right to obtain a timely written record that details the amount they earned for the time they worked, and the number and amounts of the various deductions withheld from those earnings. Fortunately, this task has now become substantially more convenient thanks to the Internet and the scores of websites now offering a very affordable or sometimes free pay stub generator. In this article we will introduce you to the pay stub generator, first by describing some of its various features, followed by a list of the information you can include on this very important employee record using a pay stub generator.
What Does a Pay Stub Generator Feature?
A pay stub generator offers a very easy and straightforward way to create employee pay stubs and meet your legal obligation as an employer. This innovative piece of software helps take the guesswork out of pay stub creation and helps employers avoid potential errors and mistakes. All you do is enter a few pieces of information into this easy-to-use program, and the pay stub generator will complete all the required calculations. From there the program will ultimately print out a professional-looking pay stub you can then give to your employees.
Most of the online companies that offer a pay stub generator include a full package-deal that includes easy navigation, free lifetime updates and 24-hour email support. You can even add your own business logo to personalize each and every pay stub you create.
How to Use a Pay Stub Generator
The great thing about a pay stub generator is that, as an employer, there are only a few pieces of information you will have to enter at the conclusion of a pay cycle. This includes:
• Employer Information. Once you add your employer information into the software program, which should include your company’s name, primary address, including city, state and zip, and your telephone number, you will never have to enter this information again. The program will save these identifying details for you and will allow you to make changes as necessary.
• Employee’s Personal Information. This includes the employee’s name and address, as well as his or her social security number.
• Employee’s Yearly, Monthly or Hourly Rate. If an employee is paid hourly, you can also add the total number of hours worked here.
• Pay Frequency. There are many different pay frequencies to choose from, including weekly, bi-weekly, monthly, quarterly and annually.
• Pay Day. The pay stub generator has a calendar with which you can indicate both the previous and upcoming pay dates. This will allow the program to determine the total time worked.
By simply entering these basic informational items, the pay stub generator will create a professional-looking pay stub that highlights all the earnings information for the employee, including current and year-to-date gross and net pay, as well as all the deduction statistics, including the current and year-to-date withholdings for state and federal tax, disability insurance, retirement, pension and voluntary contributions.