What is a Pay Stub?
A Pay Stub is an earnings statement that displays a complete breakdown of an employee’s current pay. It is also referred to as a paycheck stub and check stub.
If you don’t know, firms create a pay stub per pay period for permanent employees while it may be issued occasionally to contractors or freelancers (contract workers of the firm).
The details itemized on the pay stub usually include the amounts that contribute to the earnings (wages/salary, tips, overtime, commissions, etc) & deductions made from the gross pay of the employee (YTD deductions, income tax withholdings, FICA tax, Social Security Tax, Insurance, etc).
Some USA states don’t require employers to generate pay stubs or issue them to the employees, while some consider it as their responsibility to provide an evidence of income to their employees. Pay stubs may be presented as a token of stable employment while availing credit facilities, renting homes, etc.
You’ll find the following details listed on the paycheck stub:
✔️ Total number of hours worked by the employee
✔️ Employee’s Gross Pay before deductions
✔️ Tax amounts or deductions from the Gross Earnings
✔️ Insurance Premiums deducted from Gross Pay (if any)
✔️ YTD amounts
✔️ Net Pay
Once a paystub is issued, its details could be further utilized to create W-2 Forms for employees that aids in filing tax returns every year. Before the employer creates a pay stub, employees must fill Form W-4 first. After that, any required additional information is collected for the paystub later.
Build Your Paystub
Creating & getting paystubs is now possible in a few clicks only! Use checkpaystub.com to create a pay stub & it will be instantly delivered to your email.
All the cumbersome task of calculations will be accomplished by our automated calculator while you only enter a few basic details. As you enter the information, you’ll be viewing a preview of the paystub you’ll receive. Once you approve or make the necessary changes, this paystub will be delivered to your email after your payment is successful.
Who needs Pay Stubs?
Pay stubs or paychecks are generally useful to:
1. Employers
Employers may or may not produce paychecks as applicable according to state laws. However, making pay stubs will help employers to compare wage expenses with revenue gained. Also, firms have to pay taxes annually & paystubs are helpful for the same.
2. Employees
Employees have one thing to do with paystubs & it is tracking income.
Not all US states have laws for employers for issuing paystubs to employees, but there are instances where paystubs must be produced as proof of stable employment. For instance, when you’re applying for a loan or seeking credit facilities, renting a home, etc.
When you produce a paycheck stub, you declare the employer you’re working with & the income you gain at the end of each pay period.
Paystubs are very useful for filing annual tax returns as it states income, contributions, and deductions.
3. Independent Contractors & Sub-contractors
Contractors & employees are two different worker categories. Independent contractors or sub-contractors are not liable to receive company benefits like bonuses, nor are any tax deductions made from their paystub. In short, workers belonging to this category receive Form 1099 for verifying income received from the client at the end of the year.
4. Self-employed Individuals
You’re managing it all on your own when you’re self-employed. Tracking payments from your clients is important for filing tax returns & here comes pay stubs in the key role. After all, you’ll have to produce any evidence of income to banks & financial institutions in case you need monetary help.
Self-employment encompassing corporations, retail stores, handymen service providers, startups, etc must keep a track of earnings with pay stubs.
Create Check Stubs in Minutes
It’s extremely easy to create check stubs for employees & contractors using a single automated calculator with non-compromising accuracy. Whether you want to create paystubs for multiple pay periods in one go, it’s possible! You’ll be surprised to see how precisely these paycheck stubs are calculated & it’s all about the efficiency of our paystub generator.
By entering your basic details, this automated calculator displays essential YTD details & Net Pay in no time. Additionally, you get the privilege to receive these paystubs immediately via Email.
If this was less, you can also request corrections or a copy of the check stubs created with us in the past in case you’ve lost it. That’s incredible!
Why do companies prefer to create pay stubs online?
Be it a startup, a small business, or a firm with hundreds of employees, they prefer to create check stubs online nowadays for so many reasons. Affordability & ease of making paychecks aren’t the only reasons people are turning towards online pay stub making. There is more to look into.
Freedom of anytime-anywhere accessibility, excellent customer support, hassle-free modifications in paystubs without any delay, and many more attractions drive individuals & firms for DIY paystubs.
Whether you opt for accounting software, outsource paystub making, or hire in-house personnel for payroll management, you must be paying more than $3.99 per pay stub. Don’t you agree? In such scenarios, people feel lucky to have come across an online paystub generator that saves a lot of time & effort and provides an unforgettable payroll-making experience.
It could be hard to imagine doing manual paystub calculations accurately in one go whereas it is accomplished by our automated calculator in a matter of minutes. You now have many reasons to crush over this gift of technology!
How do I create pay stubs online?
Traditional payroll-making with accountants or accounting software is being gracefully replaced by checkpaystub.com. Besides being useful as a legit payroll making tool for employers, it’s an easy-to-use paystub maker for employees and contractors too. You can create single or bulk paystubs as desired in no time.
As you can see, our check stub generator requires a few details to be entered from your end & it will be used as an input for our automated calculator. Some basic details of the employer & employee are to be entered as well as the required fields are to be filled as applicable. After that, you’ll have to provide gross pay & our paystub calculator will consider default deduction amounts according to the state.
Please make sure that the details you’ve entered are correct & best to their knowledge. Be assured that your details will be kept private & secured with us.