Things You Need to Know about Pay Stubs
In business, there is need to always pay the employees and for this reason, you have to prepare a payroll now. It is not an easy thing to prepare a payroll to pay the employees hence there is need to learn more about it. There is need to ensure you pay your employees through payroll and this is an important thing to learn. You need to read this page to discover more info about the pay stub and how it is important. With regard to a pay stub, it is paramount to learn that it should be made in a particular way and this is to ensure that it contains all the details that are required.
As a business owner, you need to learn that a pay stub has some basic elements that should be included and these include the employee’s name, address and the dates when you made the payment. The aim of having the pay stub clearly indicated is to ensure that an employee can always check it out! and know the period that has covered. The pay stub will always clarify whether the payment has been made on a certain period since it might be confusing. Another thing that needs to be indicated on the pay stub is the number of hours an employee has worked. It is recommended there is need to ensure that the pay stub indicates the number of hours the employee has worked.
Indicating the number of hours an employee had worked is an important thing to ensure that they can relate to the income they have earned. The gross and net pay is another thing that should be included in the pay stub and you need to read more here. Gross pay refers to the amount an employee earns before it is subjected to any deductions. It is paramount to ensure that an employer indicates more about the commissions, tips and bonuses in this calculation of gross and net pay. The net pay refers to the amount the employee will take home now!
You need to learn that the pay stub should also be indicated with the taxes and withholding. Every time the employer needs to ensure that the correct taxes are paid and withheld. Owing to the fact that there are many fake stubs being generated, then you need to continuously generate pay stubs to make avoid it being forged. To avoid being in trouble you need to ensure your company does not generate fake pay stubs and also is organized when it comes to payrolls.