A pay stub template is a helpful tool for an employer that helps them in making many pay stubs with a lot of ease. This document is issued to by an employer to his/her employee. It contains a notification that payment has been made for the services rendered by the employees. Pat stubs are also known as pay slips, pay advice or even check stubs.
Employees get primary benefit from the pay stubs. They get to know more about their wage information and their deductions via pay stub. Moreover, for employers, it serves as proof of correct payment of their employees.
While compensating the employees, many businesses have abandoned the use of paper paychecks. To send the payment directly to the employees’ bank accounts, they use the paperless options that include direct deposit or prepaid debit cards. For these businesses, this is cost effective and time saving. Furthermore, these paperless options are more secure. The payments made through direct deposits can be easily traceable. You should also check Salary Slip Templates.
Best Pay Stub Templates
The purpose of prepaid debit card is to limit the number of people who can have access to the money. The employees are the ones who have access to the amount in each. Also, employee has the authority of calling and cancelling a stolen or lost debit card. They can issue a new debit card in no time. As compared to the stolen or lost paper paychecks, this is somehow convenient. This is because, before a new one can be issued, these paychecks have to bear the stop indication and a period of time.
An employer has to issue pay stubs to his/her employees. With the help of the template, all operations of compensating employees will be simplified. It also assists the employer in creating the pay stubs timely and easily.
The MS Word template is compatible with all the MS Word versions. The only thing you have to do is to replace the sample logo with that of your company in its header. Also, in the header, replace the sample text with what is appropriate for your company/ business. Moreover, this document has several tables. The first table will have a list of the following;
- Descriptions
- The hours and rates
- The totals and year to date totals of the several payment kinds
The second column has the deductions for the current pay period and the year to date totals. You can easily perform some calculations with the help of these tables. For example, for the same row, the earning column can be multiplied with the rate by hours. The fields have to be updated in order to perform these calculations. By simply pressing the F9 key, you can achieve the updated fields. This F9 key is located at your keyboard’s top column. At the end of the page, the column has a summary of the current pay period and the year to date earnings.
The pay stub template for MS Excel is somehow similar to the other one but it has lots of in-built features. For the MS Word template, you have to replace the sample logo with your company/ business logo. The same applies to the sample text. It contains the header, you just have to edit it and put your employee’s information or your business information.
The first table in this template, for a wide range of payments; regular, holiday and overtime payments, lists the descriptions, the rates and hours, the totals and year to date totals. The second column has the deductions for the current pay period and the year to date totals. At the end of the page, the column has a summary of the current pay period and the year to date earnings. This is the inclusive of the amount of cash that has been deposited in your employee’s account. At the bottom of the pay stub, all of the earnings could be calculated automatically and the deduction totals as well as most of the items.
Fillable Pay Stub Templates
We have discussed above the two options. You can select the one that is comfortable for your business or a company to make pay stubs for your employees. According to the requirements of your company or business, you can customize these templates. You just have to make sure that you have included all the important details.
Conclusion
In conclusion, a pay stub template is the easiest and the simplest way for the employers to make pay stubs for their employees. Surely, you will take advantage of this.
