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How To Make Pay Stubs As A Business Owner

By | Eric Leonardi

Many new business owners struggle with the question of how to make pay stubs. They know how important it is in the running of their business. It is a document showing employee earnings, pay periods, taxes, pension, and deductions.

Some of the pay stub benefits include tracking accounting records and proving employment. They can also serve in fulfilling federal, tax and payroll requirements. Last, they are useful for resolving salary payment issues that may arise.

The stubs can also show how much time the employee was away from work. This could be due to illness or vacations.

Unfortunately, business owners who can’t make pay stubs don’t reap these benefits. It can be costly, wasteful, and risky if you don’t know the process. The following guide will help you.

Guide on How to Make Pay Stubs

Learning how to make pay stubs is important for you and your employees. It prevents the temptation of using fake pay stubs in your other business dealings. It is illegal to use fake pay stubs. It could get you hefty fines or even jail time.

There are three different ways for making a pay stub. You can use online generators, Microsoft Office, or accounting software like QuickBooks. Here is the process you should follow:

Online Generators

Search online for the keyword such as paystub generator, then choose one from the search result pages. Make your way to the create pay stub section.

Enter the necessary details in each of the sections. These include company name, pay stub recipient’s name, and a social security number. Input the salary information such as gross pay, net pay, bonuses, and overtime.

Remember to add the required taxes and deductions. These include federal, local, and state taxes. The rest of the information is on Medicare, pension, and insurance. It also involves Social Security and wage garnishments.

Once complete, preview the document and add your preferred theme. Then, submit the information and print the document. Voila! You now have a complete pay stub.

Microsoft Office Applications

You can create pay stubs using a template from Microsoft. Download the template and open it in Microsoft Word. Fill in the pay rates and pay periods.

Next, input the date of employment plus the hours worked. Post the accumulated leave days as well. Make sure to differentiate the accumulated hours for the pay period and those for the whole year till the current date.

Last, fill in the taxes and deductions as required. Add other pertinent figures as well.

It’s the same process when using a spreadsheet such as Microsoft Excel. Create a fresh pay stub template or download one. Input the necessary data. Then preview the document and print it.

Accounting Software e.g. QuickBooks

Modern-day accounting software such as QuickBooks comes with a host of features. These include pay stub creation features. You must be a subscriber.

Launch the software. Go to the “Employees” section. Edit all the employee and payroll details. Then, head to the “Preferences” section on the main menu. Select “Payroll and Employees” and click on the “Pay Stub and Voucher Printing” feature.

Select all the sections you need. Then print the documents you want.

Learn More About Pay Stubs

As you can see, it is not that difficult to create a pay stub. The tools above are simple to use and will give you the document you need in no time. 

Get your paystubs for your employees and streamline your HR processes right now with the paystub generator!

 

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