If you’re an owner of a small- or medium-sized business that has more than 20 employees, it may be time-consuming and daunting for you to create each proof of income manually. This means that, for example, if you’re employees want to rent an apartment or house, they could have some problems with proving that they actually have an income.
But, fear not! The Internet saves the day once again! There is a wide range of online platforms, meaning that you could choose a paystub generator for creating proof of income papers for all your employees in a quick and easy way. But, there are some things that you’ll need to implement on the real paystub.
This is why you may be wondering – what tips should I keep in mind when using an online electric bill generator? Fortunately for all individuals that are wondering how to make paystubs, the article below is going to feature some tips that you should remember. So, without further ado, let’s take a closer look at what you have to do:
1. Firstly, Choose The Online Program Wisely
Before you can actually do anything else from our list, you’ll have to choose an online paystub generator. Keep in mind, there is a wide range of options out there, which is why you should compare all the features different platforms offer. Of course, there are free and premium versions, and the one you opt for will rely on your needs, as well as budget.
This is why you must compare everything, from the interface and ease of use, all the way to whether or not it’ll generate proof of income documents that’ll look suitable and professional. Hence, don’t forget to read the reviews in order to see the experience other users had, and you should view more here to see how the platform usually looks like.
2. Be Careful About The Info You Add
You should know, each state has its own requirements for a real paystub. For example, some might require you to add specific information such as the tips your waiters receive, while others might not require this. This is why you need to browse the Internet and learn what you’ll have to include.
3. There Are Fields That You Must Complete
Of course, your state may require you to add some additional information, however, there are also some common fields that you’ll have to fill in. As an employer, you’ll have to provide your name & surname, as well as your address, and for your workers, you’ll have to submit their names & surnames, as well as their addresses.
Additionally, you’ll need to add the salary period dates, the actual payday, gross wages, overtime hours (if applicable), commission & tips, pre- & post-tax deductions, taxes, net pay, as well as the year to date information. Now, you might get confused with what these fields are, so, here’s an explanation:
- The Period Dates For The Salaries – this will depend on the region your business operates in, however, it refers to the field on the real paystub that’ll explain the pay period end date or the start and end date.
- The Gross Wages of Your Employees – on a real paystub, this field refers to the total salary earned, which means that you need to add the hourly wages, tips, as well as any other income that your employee might have made.
- The Taxes – this will include different taxes such as federal and state, local, as well as social security taxes. Keep in mind, most real paystubs have each of these taxes in separate fields.
- The Deductions – there are two types of deductions – post and pre taxes, which could include things such as uniform expenses and other things. Additionally, they include health insurance, spending accounts, and so on.
- The Net Profit – this is the total value after you have deduced everything. This means that you’ll need to state the gross wages, but, minus the reductions and taxation.
- Year to Date – this field on a real paystub will cover the total earnings during one year. If you didn’t keep records of the earnings, you can always go back and calculate how much you’ve given to your workers.
4. The Numbers Must Be Correct
If there is one thing that you must remember on how to make paystubs, it’s the fact that you must account for every single bill and cent. Hence, when you’re going through the process of creating proof of income papers for your employees, you must guarantee that every single sum that you enter is precise.
You shouldn’t, in any case, estimate the amounts, nor should you round up the figures, mostly because it won’t look like a real paystub! Additionally, there are ways that people can check whether or not these numbers are correct – such as requesting a bank statement – so, to avoid any issues, be precise and on point.
5. Review And Double-Check Everything
If there is one thing that you should take away from this article, it’s the fact that you must provide info and data that is accurate, however, you also have to guarantee that it could be understood by the reader. If you think you’ve completed your real paystub, think again!
This is why you must ensure that you review some of the most relevant information including the figures, neatness, quality of the print, check it for any spelling mistakes, and ensure that it’s clear and readable. By doing so, you’ll generate proof of income that’ll look professional.
6. Opt For a Format
When it comes to the format that you can choose for your real paystub, there is a wide range of options that you could choose from. You should ensure that it’s something that is suitable for your business, but more importantly, you need to make sure that the format is neat and professional-looking.
For instance, you could opt for the traditional method, which is printing the documents, however, you could also choose to get it in a digital format, meaning that you could download it in the form of a PDF file, something that you could use for sending the document via email. Your choice will entirely depend on your needs and preferences.
Although most people think that it’s difficult to use an online paystub generator, this isn’t entirely true. In fact, if you choose to use some of the tips we mentioned in our list above, you’ll certainly make the entire process easier, less daunting, and more importantly, you’ll ensure that the information you added is correct and accurate.
So, now that you’ve learned how you can make a real paystub, you really shouldn’t waste any more of your time. Instead, keep the aforementioned tips in mind, and then begin with the first task we mentioned – which is opting for a suitable online platform that’ll suit your needs and requirements.