We tend to assume many things may be already done for us online but it is vitally important to double check every time so that we don’t have any concerns down the line with the taxman.
Now, that’s not to say that creating a pay stub online isn’t the way to go — because it is. Creating a pay stub online can make things much easier for both yourself and your employer, but there’s some things you have to keep in mind.
So, are you ready to create a pay stub online, and find out all the information you can before creating one, so you know you’ll get the whole process right? If so, scroll down, and we’ll get started on walking you through the pay stub creation process.
For one ensure you use a payroll deductions calculator either online through a government website or via a deductions catalog provided to you by your local government tax department. Ensure you read the instructions carefully to understand what is required when understanding what range your employees are in for when you cut payroll deductions.
Second know the employee’s correct personal & payment information. Knowing their up to date correct address will prevent them from getting into issues when they need to provide a personal pay stub for proof of employment.
Create A Pay Stub Online
Third ensure you utilize a customizable online pay stub creation tool such as PayStubly in order to aid you in the proper formatting of a pay stub. Fill in the pay stub & provide a printed copy to your employees.
finally be sure the net total payment after tax is either directly deposited into an employees account or the employee or provide the employee with a physical cheque.
Printing off a copy for yourself would be a good idea so that you can provide them to your accountant at the end of the accounting year for tax return purposes.