Making the choice of which paystub generator to opt for is as important a decision as choosing paystub generators over payroll companies or manual processing. Since payroll companies can cost a limb, Paystub generators are the cheaper and faster alternatives. However, given how technical the process of generating a paystub can be, you need a generator you can rely upon. To save you from wasting your time and resources on the wrong generators, continue reading.
Benefits of Using Paystub Generator
As a business owner, nothing is quite as precious as your time and money. And using a paystub generator helps you save both. You save a fortune from paying payroll intermediaries and time if done manually. Aside from these, generating a paystub manually can also be a tedious task. You will have to keep up with state laws as well as keep employee information handy. The work and time spent typically go up the more employees you have. Utilizing the help of a paystub generator eliminates all these.
Types of Paystub Generator
There are two types of paystub generators. Free and Paid. Below are details for each.
Free: free paystub generators are quite helpful tools for small businesses. Albeit, their uses are quite limited. With a free generator, you calculate your payroll based on state and federal taxes and deductions. After which, you enter your results into a paystub template and let the service generate your paystub. If you have been manually creating your paystubs, the free method is a quicker way to get the same results. Although, they are not as robust and dynamic as the paid versions.
Paid: While there are many good free paystub generators, they do not function quite as much as paid versions. Paid versions allow you to add customized template colors, theme, logo, and watermark. Depending on the generator, it also comes with extra features.
How to Choose a Paystub Generator
Here are the various things to consider when choosing a paystub generator for your business.
One of the major goals for opting for a paystub generator might be to cut down costs. You want to ensure you are not spending too much depending on the size of your business. Paid generators typically cost between 8-9 dollars per paystub. However, you can get it for less with paystubsnow.
Because of how sensitive a paystub can be, you need one that is accurate, fast, and reliable. You want to consider checking public reviews on a chosen generator before choosing them.
The ability to customize your paystub is vital to every brand. Except of course, you have no interest in branding. If you do, then look out for extra features. These include customizable themes, logo, and watermark.
Number of employees
While the goal of using a generator is to save time, depending on your business size, you can eliminate the cost of getting a paystub by using a template. If your employees are below 5, there is really no need to pay for a paystub. You can totally create one manually with a template and have enough time to spare.