A document that lists and enumerates your salary for a particular period of time is called a pay stub. This helps to document your taxes and deductions taken out of your paycheck. For an employer and employee, Pay stubs serve as an official record. Creating accurate pay stub is necessary for a business, that helps as proof of payment that an employee is paid accurately and denotes taxes and fees were deducted.
Employers can manage payroll on their own using our Paystub maker. Paystubs can be created in just three simple steps with accurate tax calculations and generate professional-quality pay stubs using 123PayStubs.The cost of the payroll process is reduced with simplified and accurate paystubs can be generated using our Online pay stub generator.
Pay Stubs are so important for an employer or a sole proprietor and the reasons are mentioned below:
Legal Responsibility of an employer
The U.S Department of Labor enforced laws on regulations and state labour that an employer should be legally responsible for paying the employees properly and filing taxes accurately on their own and keeping up with all federal and state laws. Payroll requirements differ from state to state and it’s quite difficult to keep up with these laws on your own. But it becomes easier with the help of our Paystub generator which requires some basic information about the tax deposit schedules, minimum wages, and tax filings for each state.
Wage and hour laws should be followed by an employer and a pay stubs helps to document that information. Failure in providing those documents for employees can result in penalties, lawsuits and even criminal charges.
As an employer, you have a legal obligation to abide by FICA. You are also responsible for paying your share of Medicare, social security, and unemployment tax as well.
The Federal Insurance Contributions Act (FICA) is a payroll contribution including Medicare tax, social security tax, and federal income tax.
Using an online pay stub creator can take away all the guesswork and ensure accurate calculations.
When developing your pay stubs, you must make sure you are deducting the correct amount in order to stay compliant with these regulations.
Our pay stub generator will handle these calculations for you and determine the tax withholding based on the state-specific calculations. All you need to do is enter the correct information for the pay stubs.
Pay Stubs Enhance Trust and Transparency in the Workplace
Being open and honest about payroll establishes trust between you and your employers. By creating accurate pay stubs, your employees can trust that the information is correct and it was developed meticulously. The pay stub is such an important document for you and your employees, so you want to be sure that it is of professional quality.
As mentioned previously, pay stubs serve as an important record for both employers and employees. Oftentimes, when doing something such as buying a home, you will need accurate documentation of your pay stubs to show your proof of income. Being able to show proof of income is very important in several situations so it is vital the information provided on a pay stub is specific, accurate, and contains the correct information.
Generating pays stubs online with 123paystubs will allow you to download, email or print pay stubs instantly and distribute them to your employees. Both you and your employees can then keep a record of your pay stubs for future use if necessary. Using an online pay stub generator will also ensure that your records are secure and protected.
Start Generating Accurate Pay Stubs Today
Lastly, pay stubs are extremely important, and ensuring that they are correct is crucial. Using an online paystub generator will ease the task of developing your payroll and confirm that your information is correct. Get started today creating professional, accurate, and IRS-approved pay stubs with 123PayStubs. Create your first pay stub now!