Finding a Good Pay Stub Template
One of the most crucial parts of keeping your business running smoothly is ensuring that each employee is paid accurately and on time. It’s your job to track the time and type of work done be each employee. The hope is that you’ll know exactly how much to pay without any concerns about inaccuracy. The creation of clear, readable pay stubs will go a long way toward streamlining your payroll processes.
In this article, we’ll consider a few different options for creating these pay stubs. We’ll focus on free alternatives such as templates and online generators, as these will cut down on your costs and save you time, regardless of how many employees you have.
Use Your Word Processor
Depending on your level of skill with publishing software, the simplest method would be to write up your pay stub template on your own. If you’d rather avoid doing too much work, many software packages come equipped with several fill-in-the-blank templates. A few easy changes are generally all you need to get going. If none of the templates installed on your system are adequate for your needs, you can also hire a specialist to create your stubs (or even the entire payroll system) for you. Due to its simplicity and convenience, this is one of the most common ways that small entrepeneurs handle their pay stubs.
Try an Online Pay Stub Generator
The internet has made many processes easier for business owners, and pay stub generation is one of them. There are several sites to choose from. Templates created by these sites will commonly be a little harder to customize than ones you would make on your own, so shop around until you one that fits all your requirements.
The Easy Way: Search Engines
The third alternative is to simply use a search engine to find a pre-made template. For many purposes, these ready-to-use templates will work just fine. On the other hand, make sure you do your due diligence before downloading anything from the web.
Ask Your Colleagues or Fellow Business Owners
Since payroll can be complicated, it might be a good idea to ask administrators of similar businesses how they create their pay stubs. If you are worried that other companies will be unwilling to help a competitor, just remember that payroll and pay stubs are an everyday concern that all businesses have to deal with, and not something that really affects competition very much. In some cases, this kind of interaction can be the start of a mutually beneficial friendship with another industry player.
At the end of the day, there are only a few things that need to be done right. The most important by far is accurate reporting of gross pay and working hours for each employee, printed in a reader-friendly format. A bit of common sense goes a long way, and the information above should get you started.