What is a Pay stub?
A pay stub, also referred to as a paycheck stubs or payslip is given to the employee by the employers as the proof of income. Pay stubs show information about employee earnings, Taxes and other deductions paid to the employee.
Who needs a pay stub?
Individuals who receive compensation, regardless of whether they are employees or contractors, are in need of paystub. These documents serve as evidence of income for employees and provide crucial information regarding their wages, deductions, and can be utilized for taxation and financial purposes.
What is a Paystub template?
A paystub template is a pre-designed document that provides a structured format for creating pay stubs. A pay stub, also known as a paycheck stub or earnings statement, is a document that outlines the details of an employee's wages and deductions for a specific pay period. It serves as a record of the employee's earnings and can be used for various purposes, such as proof of income, tax filing, and financial documentation.
How to create a paystub as self-employed?
Are you self-employed but need a way to show proof of income? You can generate paycheck stubs in 3 simple steps. Enter details like company and employee information, and preview the paystub whether all the details are accurate. Finally, download, print, or email the self employed pay stub.
What is the Information Included in a Pay Stub?
Information in the pay stubs varies based on the employee tax liability and state or local requirement. However, here is some of the most common information you will find in every pay stubs.
This section of the paystubs includes the employee's name, address, Social Security number, and other identifying information such as Employee identification number.
Pay Period and Pay Rate
This section lists the start and end dates of the employee working for the particular pay period and their pay based on hourly, daily, weekly or monthly.
This section lists the employee's gross earnings for the pay period, which includes their regular pay rate, overtime pay, bonuses, commissions, and any other earnings.
This section lists the taxes withheld from the employee's paycheck, including federal, state, and local income taxes, as well as Social Security and Medicare taxes.
This section lists other deductions taken from the employee's paycheck, such as health insurance premiums, retirement plan contributions and wage garnishments
Steps to create pay stubs with 123PayStubs
Ready to kickstart your payroll management? Give our pay stub generator a try and generate pay stubs in just three simple steps!
Enter Information: Provide the necessary details such as company information, employee particulars, pay schedule details, and more.
Preview: Select your preferred Paystub template, meticulously review the entered information, and make any necessary adjustments or modifications.
Download: Obtain a printable version of your Paycheck stubs instantly! Additionally, you have the option to email them directly to your employees or contractors conveniently with our checkstub Maker.
123paystubs offers a comprehensive set of features through its Paystub Creator , making it a reliable and efficient tool for creating paystubs. It provides accurate tax calculations, ensuring that the correct deductions are applied based on federal and state tax laws.
The platform also offers free Pay stub Templates, allowing users to easily customize their paystubs with essential details. Additionally, 123paystubs supports state-specific tax calculations, ensuring compliance with regional tax regulations.
The tool enables users to include additional earnings and deductions beyond regular wages, such as bonuses or commissions. Moreover, it conveniently calculates Year to Date (YTD) information, providing a snapshot of cumulative earnings and deductions for accurate financial reporting. With its diverse features and user-friendly interface, 123paystubs serves as a reliable Paystub Maker.