Check stubs are a vital part of every business—both for an employer and for an employee. While you might not be sued for not providing one as a business, some state laws require you to provide one. Typically, large-scale businesses partner with payroll companies to handle the processing of check stubs for their employees. However, these cost quite the sum to maintain. As a small, medium-sized business or a large company looking to spend less, this method might not be ideal for you. This article will tell you all you need to know about check stubs and how you can get one with a check stub generator.
What are Check Stubs?
A check stub, also known as a pay stub, payslip, or paycheck stub, is a document that accompanies a cheque outlining details regarding the amount paid. Check stubs typically include an invoice number, employer and employee information, the amount paid, pay rate and pay period, deductions, employer taxes, and a few other similar details.
Do You Need a Check Stub?
Check stubs are a fundamental need for employees. And as an employer, you owe it to your workers to provide one for them. Other than it being required by state laws, they are also required by the Fair Labor Standards Act. Between state laws and the Fair Labor Act that compels you to provide one, check stubs are also quite handy for employees. It helps them keep track of their pay, track deductions, and can be used for references. This is especially for cheques deposited directly to employee bank accounts. The check stub shows them exactly why the amount deposited was so. And should they ever want to leave your company for somewhere else or seek a loan, proof of payment in the form of a check stub might be required.
How to Generate Check Stubs
For small and medium-sized businesses looking to a generate check stub on a budget, there are quite many options out there to make choosing become a burden. Today, check stub generators can help you take away the tedious process of manually generating payrolls—paying a premium payroll intermediary to perform the task. All that is required is that you choose a preferred generator, punch in a few essential details, and you will have your check stub in your email in a matter of minutes. However, when choosing a generator, you need something easy to use, costs less, and offers accuracy. Any slight mistake on a check stub can have serious consequences. This is why you should try Paystubnow. It offers the accuracy you can trust, depend on, and can be utilized with ease.