The pay stub is the easiest and best way to provide proof of the paycheck, and more and more companies are implementing it in their places of business. In the past, the real paystub was available only in the traditional way, and things had to be made manually. Now, in the digital era, pretty much everything is available online, you can easily use a paystub generator, and you can follow the templates to make sure you don’t forget something or make a mistake.
However, no matter how much the technology is helping you, you also need to pay attention to all the little things and always provide error-free check stubs. In this article, we are going to talk about some of the most common pay stubs mistakes, and we will give you some tips on how to avoid them. Continue reading if you want to learn how to make sure you never get in trouble with the law, and that you always provide specific and correct information to your employees.
1. Not calculating everything correctly
The first mistake that many employers make is not calculating every single part of the paycheck correctly. The real paystub can help you out with this process a lot, especially if you utilize the check, stub maker.
Note that in every document that you send out, you will need to add not only the final number, but you also need to provide proof of how you got to this number. There needs to be info for any additions or deductions.
This means that you will have to provide the basic paycheck number, and then add information about any bonuses, overtime, taxes, and anything else that may affect the final sum. Know that when you write things step by step, you can easily calculate everything, you can show your employees proof of why they earned as much as they earned, and you will make sure there are no mistakes or errors in the final document.
2. Not paying attention to the date
The date is another crucial part that you cannot miss out on. There are a lot of people who make this common mistake when creating the real paystub, and they don’t pay attention to the difference between the current period, and the year-to-date data.
Know that you need to properly add this info, and you should explain to your team what the differences are. The reason why this is crucial is that they need the latter to confirm details including their taxes, gross wages, as well as the benefits they are receiving.
On the same note, you should never forget to add the proper date, and if needed, you can consult with a professional on how to do this correctly.
3. Missing out on important parts
Now let’s talk about another mistake you shout try and avoid by all means. When creating the real paystub, you will need to add the total hours that have been worked by your employee, and this means that you should add not only the normal hours but also the ones that were done over time.
You should also not forget to add the inclusive dates, the gross and net wages, and if possible, you should add all the different hourly rates in the real paystub. This is just part of the information that you should not miss out on, and depending on your line of work, you may need to add more or fewer details.
Note that by using a check stub maker, it is going to be easier for you to cover everything, and you can use the templates to make sure that you are not missing out on an important part. The main thing in creating them is that you need to be really careful the first time around. Then, after you create your personal template, you can utilize it for every next task. On this website, you can see how the online maker can help you out and all the things you need to include in the real paystub.
4. Not adding the details of the business
When creating this document, you need to add the details of your business. Know that when you make the check stubs, you need to add more info not just about your employee, but also about the company that approves the payments.
This means that when making the real paystub, you should add the name and the address of the legal entity – the employer, and if needed, you should provide more details. In most cases, the legal name and the address will suffice, but you should double-check with the current laws and regulations in your location.
5. Adding too many details
The last mistake that an employer could make is adding too many details in the real paystub, and creating confusion or sharing personal information that should not be shared.
Know that even though you will need to add the social security number of your employees in the document, you should never fully write it. The law requires you to add just the last four digits of it, and you should also include the name of your team member.
On the same note, you should never share the real paystub with anyone else, except the person it’s meant for. You should not show it to other employees, and you should never give it to someone else to pass it along to the right person.
These are some of the most common mistakes that you should try to avoid when creating your real paystub. Know that there is just the template you need to follow, and once you create it, you can use it for any future deals. You should rely on the online generators to help you out with the process, and in case you think you are missing out on something, you can always talk to a financial advisor. These documents are used and utilized in many different parts of our lives, so you should make sure that you provide the best for your employees.