All You Should Know about Pay Stubs
There is need to always prepare payroll and this is due to the fact that you have to pay the employees in business. There is need to ensure you learn more about preparing the payrolls to pay your employees since it is not an easy thing as it might seem. A payroll is an important thing that every business owner need to learn to prepare to pay their employees. You need to read this page to discover more info about the pay stub and how it is important. It is important to learn that a pay stub should be made in a certain way and there are some things that need to be included for it to be complete.
The basic things that need to be included on a pay stub are the employee’s name, address and the dates when you paid. The period that the payment has covered should be indicated clearly on the pay stub and this is to ensure that the employee and employer can always refer not to be confused. 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.
For an employee to be able to relate the income he or she has earned, then it is recommended that there is need to indicate the number of hours that a person had worked. The gross and net pay is another thing that should be included in the pay stub and you need to read more here. You will realize that the gross pay is the amount an employee earns before the income is subjected to deductions. An employee might have earned commissions, tips and bonuses and hence there is need for the employer to ensure that they are included when generating the pay stub. With regard to the net pay, you need to learn that it is the amount the employer will take home.
You need to learn that the pay stub should also be indicated with the taxes and withholding. There is need to ensure that you have the correct taxes paid and withheld every time and this is the role of the employer. 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.