Pay Stub Example – Perfect for when you are New to Payroll
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Learning to do payroll for your small business or the company you work for can be a tall order, there are so many different things you need to remember and do, that you may find that it is overwhelming and frustrating to get through it. You not only need to learn all the deductions you must take and how to go about paying them to the appropriate agency, but you may also learn to generate checks and paystubs for your employees. You can look for a template for this, but it may or may not suit your needs, it can help to get a pay stub example so that you clearly understand how to do the pay stubs.
A pay stub example will do much more than show you how to lay out your pay stubs, it will help you understand the fields your paystub must have and what must be shown in each pay stub. When you look at the pay stub example the first thing you will notice is that it contains your company name and the name and address of the employee. It may have a social security number on it, but with identity theft more and more companies are getting away from listing this on their pay stubs.
Next a pay stub example will show you where to put in your employee’s hours, this is split up into regular and overtime hours and sometimes there may be a different type of hours you may need to add to the pay stub. Next to each hours field there is a place to show the rate of pay your employee earns for those hours, as well as a year to date field that shows the number of hours that your employee has worked and the amount of overtime he has done.
Each deductions field should have a field for the name of the deduction, the amount taken out of the current check and a year to date field that shows the total paid for that deduction this year. Each deduction should be separated from the others, do not be tempted to use a miscellaneous field for any of these, federal, Medicaid, social security, state taxes, local taxes and any other fees should be separated and listed clearly so that the employee understands what he is paying and why.
A pay stub example is an excellent way for you to learn how to put your pay stub together in a way that is well organized and readable. Use these templates to help you understand what needs to be in your pay stub then create your own or find a website that has a pay stub that works for you.