- Apr 26, 2023
How to Create Professional Real Check Stubs for Your Employees?
Whenever an employee gets a salary it is necessary to provide him with a description of how he is being paid. The description of his income is shown real check stub.
A real check stub is a document that showcases the payroll information of an employee. It has an inclusion of information such as:
- Name of the employee
- Pay period i.e. applicable dates of payment
- Payroll number
- Gross income
- Net income
- Tax deductions
- Other contributions
- Tax code
- Other relevant information
In this section, you will get information on how to create professional real check stubs and the necessary things to keep in mind. You are also provided with a real check stub creator i.e. stubbuilder.com which may give you desired results.
Description of the information posted on the real check stub
Gross wages: Whether based on an annual salary, an hourly rate, or any other options, gross wages are the sum that the employee earned for the covered pay period.
Commissions and bonuses: In addition to reimbursements, a pay stub shows any other payments made by the company to the employee, such as commissions and bonuses.
Taxes: A check stub will also show (and itemize) any federal, state, or local taxes that were deducted from an employee’s check, such as Medicare and Social Security taxes.
Health insurance premiums: If you provide your employees with health insurance, any employee contributions to health benefits are deducted from the employee’s gross income.
Contributions to retirement plans: If an employee chooses to do so, contributions to a 401(k), SIMPLE IRA, or other employer-sponsored plan are also included.
Importance of Real Check Stub
A real check stub is helpful to you as the employer for tax purposes and for resolving any issues with employee pay. It gives them a record of their earnings, explains their taxes, donations, and deductions, and enables them to make sure they were paid fairly for you.
Real Check stubs are much more valuable to employees since they provide a breakdown of their income, whereas they are only marginally important to employers. They serve as evidence of payment, which is crucial if the worker wishes to apply for a loan. The majority of lenders require one or two months’ worth of pay stubs when an employee applies for a mortgage.
Check stubs are also eco-friendly options for details on employee salary distribution. These are professional and customizable. There is no possibility of human error and it is highly convenient too.
How to create professional and accurate real check stubs?
Real Check stub maker can expedite administrative processes, do away with human error, store records conveniently, and make expertly designed proof of income templates. It shouldn’t be too difficult to create and manage your income statements.
The employee’s entire gross income for the pay period is a good place to start. Deduct taxes withheld, including FICA and any relevant federal, state, and local taxes. Deduct the health insurance premiums that were paid by the employee. Deduct the retirement plan contributions made by the employee.
Following are simple steps you need to follow while creating a real check stub.
You need to click on stubbuilder.com and perform the below-mentioned steps.
1. Enter Your Business Info
Use a template that fulfills your requirement. Customize accordingly.
Put all your business information in the form such as business name, business address, and business contact information. Add your logo.
2. Enter Employee Info
The next step includes adding employee information. This information is necessary as it signifies to whom the check stub belongs too. Add your employee’s details such as their name, employee address, and employee ID number.
3. Complete employee salary information
It is necessary to enter the payment method and payment information. Enter the pay date, month, and paycheck number. For the check stub maker’s calculation, include information about your employee’s wage.
4. Increments and deductions
You must include salary increments and/or deductions, such as overtime pay or tax deductions, in this area. The net pay is calculated and updated automatically by the free real check stub maker.
5. Get Your Pay Stub
Your check stub is ready for use. Now, you can email pay stubs to staff members directly, or you can download and print a PDF version of your pay stub.
There are fewer discrepancies while using a real check stub maker such as stubbuilder.com. It is a user-friendly tool at your fingertips.
Things to keep in mind when creating a real check stub
Understanding the information on a pay stub can help you and your organization resolve problems. You ought to understand how to make and interpret an employee check stub.
It’s possible that you’ll need to pay an employee right away if they leave or are terminated. The process is streamlined by having access to real check stub information. The faster you can check for accuracy and pay employees, the more familiar you are with the components of a check stub.
Corrections can also be found by going over employee check stubs. Verify that the pay rates, hours worked, and total earnings on the check stubs are accurate. If a figure seems disproportionately high or low, you can identify mistakes early and prevent IRS fines and employee disputes.
You will be able to see the several real check stub options available online and pick the one that best meets your requirements. Depending on your business and the data you want to track, you will have to make a decision. To secure the expansion and survival of your company, there are various reasons to provide check stubs for your employees. You can choose Stubbuilder.com, a reliable and well-rated application, for all of your check stub makers’ needs.