Payroll services have taken one of the most dreaded tasks for employers and managers and completely automated the hell out of it. Today, you don’t have to lift a finger to run payroll. With the right software, it’s all done without you even thinking twice.
One of the services provided by paycheck stub makers is sending out digital payroll check stubs for each payroll you calculate. The digital pay stub creator will create the pay stubs automatically whenever you run payroll. That's not just a convenient feature; in many cases, it's required by law. Here's everything you need to know about check stubs, pay stub makers, and what they can do for your business.
Payroll check stubs, aka pay stub, aka paycheck stub, aka any other permutation of those words you could probably come up with, all amounts to the same thing. It is a part of your paycheck that has relevant details about your salary or pay. Exactly which details must be printed on your check stubs will vary from one state to the next. However, some of the most common information that is printed with a pay stub generator includes:
And of course, your payroll check stubs will have your net pay or the amount of money you actually receive from your paycheck (the total amount or gross pay of your earnings minus any taxes or deductions). The net pay is how much money you walk away with in your pocket after everything is deducted.
Pay stub generators can create digital check stubs online or provide you with printed versions of your pay stub. Not only are check stubs handy, but they’re important for several reasons. If you’re working and receiving a paycheck, then you need a paycheck stub maker because:
Pay stubs are an easy way to double-check that you've received proper compensation for your work, and a pay stub online is a digital copy. So that’s even more reliable. You can also see that all of the relevant deductions were withheld, including taxes and 401-K deposits. These payroll records are just as important for employers as they are for employees. They can be used by both as an aid for keeping payments straight and as a tool for clarifying any questions or disputes that arise in the future regarding payroll.
Check stubs are also a convenient tool when it comes time to pay taxes. An employer can quickly fill out W-2’s using the clear information printed on these printed or online payroll stubs.
Not all, but in many states, employers are legally required to give you check stubs after each salary is paid out.
Digital check stubs are also an easy way to look up any of the details included on the stub if you need a quick reference.
A check stub maker is one of the features payroll services use to make the entire payroll service easier. Online payroll stubs are a newer feature that is becoming more commonly-offered among online payroll services. All of the big names in payroll software will list this as a feature.
There are many benefits that can be gleaned from using a pay stub generator over the traditional printed stubs. For example:
This is the most obvious benefit for employers. Online payroll stubs alleviate the need to print out paychecks and check stubs, saving our valuable resources. So, a digital pay stub generator actually makes the world a better place.
Not only are online payroll stubs better for the Earth, they’re easier on your wallet, as well. According to studies done by the Comptroller of the Currency, switching to direct deposit payroll and online pay stubs can save companies up to $2 for every paycheck issued. What’s more, you can save as much as $8-$10 by doing away with lost or stolen paper checks that need to be replaced.
Digital payments and pay stub generators also ensure that your employees are paid in a more timely fashion. For one thing, you don't have to rely on the postal service to mail out checks. Even when things are running smoothly, this takes a few days, whereas digital payments are automatically deposited into the employee's bank account. For another thing, digital payments are never deterred by inclement weather conditions or other issues that delay the traditional paycheck distribution.
While employees love that they’re getting paid faster and more consistently, employers should also appreciate this feature. When employees are happy and know that they’re getting paid on time, studies have shown that morale is higher, along with productivity and general work output. So, everyone wins when people get paid on time.
Using a check stub creator has been proven to be the safer option as well as being convenient. There's no risk of losing the paycheck and having it fall into someone else's hands. And the money is automatically deposited into your account. So, you don't have to visit the bank, another important safety precaution, particularly in these times where social distancing is more than just a polite suggestion.
There are a lot of free paycheck stub makers online today. And there are just as many payroll services that offer this feature. Is one better than the other? Well, that depends on what you're looking for. If you have one or two pay stubs to generate, aren't really concerned about security, and don't need any other services, then a free check stub creator can be an economical choice.
Of course, if you are a regular business that plans to issue multiple payrolls or monthly payroll, then you’re going to want something more comprehensive than the free paycheck stub maker tools have to offer. Payroll services include lots of features and benefits on top of a paycheck stub maker. Reliable brands like Gusto, ADP, and Paycor can help you with compliance, calculate and file taxes, send out end of year forms, manage your HR and employee benefits, and take care of new recruits and onboarding directly through the system. So, payroll services that include a pay stub generator offer leaps and bounds more functionality than a basic free check stub creator.
What's more, you need to use the same caution with free online pay stub makers as you do with any freemium software. Generally, these tools have little or no security for their services. When it comes to payroll, private employee details, and confidential business information, the last thing you want is a breach of security. So, while free pay stub generators might seem like a more economical choice initially, the price you might end up paying in security leaks is nothing in comparison.
Online pay stubs are bringing even small businesses into the 21st century. They’re a more convenient, faster, and environmentally-friendly option to print pay stubs. And these digital check stubs will even help your business save money every month. Learn more about the top names in payroll services to get the most out of your payroll options today.