In terms of how to generate pay stubs, whether to do it manually or go with a bit more modern option, or whether providing them to your employees is a must, sometimes it’s best to find a universal solution. Namely, you simply have to provide employees with their paystubs, and even if you are just starting your business and have a couple of workers, if you plan to go big and expand in the near future, then it’s better to start creating paystubs in the best and fastest way right away. There are several ways to do it, and some are a bit more expensive than others, but, in the end, all these options we will mention are much better and safer than doing it manually.
Avoid doing it manually
It was entirely normal to create paystubs and payroll documents manually before the advent of the computer by simply using only a pen and paper. Of course, some people are still more fond of doing things that way, but that doesn’t mean that it is a better or more efficient way. Efficiency and productivity are the two most crucial factors in modern business, which also means that creating paystubs by using pen and paper should simply not be a thing anymore. Needless to say that doing everything this way was hard, which also means that mistakes occurred much more often.
Thanks to modern technology, there is no need to do it manually anymore, but some people are still used to this way of making paystubs and payroll documents, which is not a good idea. It is time-consuming for companies with many employees, and it is easy to make a mistake that cannot be fixed, so it is necessary to do everything from the beginning. Just think about all the info and all the numbers on one paystub, and imagine having to do all those calculations manually and as many as a hundred times. It really is a nightmare, and besides that, it looks unprofessional, and many banks will not accept it, so it is better to avoid doing it manually.
Do it online
Thanks to modern technology, we can find various websites where we can create our paystub in a few minutes, and it will look professional without too much effort. These makers are pretty easy to use, and all you need to do is find the best one, fill all the necessary fields, check if every piece of information is provided, and download the document. Besides that, by doing everything online, the forms are set in such a way that there is no way to make a mistake, not fill a certain field, etc. Of course, keep in mind that finding the best maker can be pretty challenging since there are many of them online, so it is always a good idea to do some research and make sure that you have made the right decision.
What you want from the website are genuine legal paystubs that you can generate in a matter of minutes so that this whole operation doesn’t last that long. If you decide to do it this way, make sure to fill every field properly, and always check twice after finishing, since although it is easy to use them, mistakes happen, and it is necessary to fix them in time. Luckily, if you find the right website to generate a paystub, you will not just get the highest quality pay stubs, as the site will also offer some tips and guidance, making the whole process much easier.
Check the requirements
The requirements for paystubs and payroll documents are not the same in all states, so it is necessary to check the law and see what they should contain and in which form they need to be provided. It is a must to provide them to employees in almost every country, but there is an exception to this rule as in a few countries, doing so is not a must. Mainly, there is no federal law that sanctions not providing pay stubs to the employees, but every state has its own laws that sanction this. All this makes checking the rules and regulations and consulting the experts in this field in time can save you from extra work and dealing with any legal troubles. It is also necessary to check the format in which they need to be provided as in some countries it is possible to do it in printed or even handwritten form while in others the only way to do it is electronic.
Install the right program
Now here, even though it’s not a program designed just for generating pay stubs, this feature comes with many accounting programs that you can find on the market today. What makes them such a great and popular option is that they are easy to use, and if you already have to buy an accounting program, make sure to go with the one that has this option so that you don’t need to pay extra just for this feature. On the other hand, if you opt and want to get just this program, be aware that this might get costly as, in many cases, you will have to pay for subscriptions on a monthly basis.
Gather the necessary information
It doesn’t matter how you decide to create paystubs and payroll documents, as it is necessary to gather the necessary info before even starting. Once you collect them all, it will be pretty easy to enter them and create a document in a few minutes, so make sure to do it before. You will need some basic information, such as the company’s and employee’s name, address, and contact information, but also many others such as net and gross earnings, working hours and hourly rate, and much more. After you are done with one, saving templates can ease your future work, as certain info is the same for every employee, which speeds up the whole process. Now, what to include and what not can differ from state to state, and it is always a good idea to check the required information and gather them before creating a paystub or payroll document.