Majority of employers provide a piece of paper to their employees when they are being paid. This piece of paper will indicate how much money has a particular employee earned and what amount of tax has been deducted from the total amount.
How To Create A Paycheck Stub Template In Excel
(Example of Paycheck Stub Template)
Several of the big business owners and their payroll employees are extremely familiar with the information listed in the stubs and are well aware how to create one. This type of a paper various or digital notice will show the total pay as well as the total work hours. Also, it shows various payroll related details for every employee who works in an organization.
Most accounting software programs will make it really easy to create as well as print out the salary stubs and give it to the employees along with a salary check. It is used to show the amount that has been directly deposited into their bank account. However, an independent contractor or a small company typically uses a basic software or any other system such as a hard copy journal to track the employee salary details. In such cases, these can be easily created and printed by using a basic computer spreadsheet application such as Microsoft excel.
1. Create the customized header for your spreadsheet and include the organization’s name, address and contact number. You can do this by opening Excel and then going into the “Header” section from “View” menu and then clicking on “Custom Header.” Next, type in the organization’s information and then close the header. This will not allow it to appear on the spreadsheet window, instead it will print the details out.
2. Type out the employee’s name as well as the employee’s number in case it is applicable within the first row. You need to follow this information by adding the salary period and salary date.
3. Skip the two rows below the name and then type “Regular Pay” within the cell. Go to the next cell and type “Overtime” in it. You can follow these with “On Call,” “Holiday,” “Sick” and “Vacation.” Skip to the next line and create various other rows to include details of any other benefits such as retirement, health insurance etc.
4. Next, Go to the third column and enter “Rate” in the third cell. Enter “Hours” in the next cell on the right and follow it with “YTD (year-to-date) taxes” and “Current.” Fill out these columns with the number that will correspond to your first column pertaining to a specific employee.
5. Insert multiple columns for the year-to-date and current taxes to the right side of the salary slip information. Fill out the correct figures. Enter your gross pay details beneath the tax details followed by your net pay details. Finally, you can pint this on your computer’s printer. There are a wide range of software providers to help you in preparing these. These days, several companies prefer to use this for creating an employee’s salary check and the other relevant details.
Using this software will help a company to avoid paying for specially hired services to help create something that they can easily create on their own. While operating a small business, you can easily save a lot of expenses by using a blank check stub template. This type of a document can have several uses especially when you are being asked to show your proof of income. This will also come in handy for record-keeping purposes.
Free Online Paycheck Stub Generator!
You can use the internet for browsing helpful websites for employee pay stub such as paycheckcity.com. This is an incredibly useful website that will allow you to sign up for free membership. You can also upgrade on this website and get greater benefits for a basic level membership. You can use both an hourly pay rate as well as a weekly or monthly salary calculator.
These can be used by you without having to even take a membership. You can greatly benefit from the printable check stubs as it will not stop you from being able to take a print-out even if you haven’t registered for an account on paycheckcity.com. To register on this website, just enter the requested information. You will then receive a User ID as well as an access code e-mailed to you. You can change these details later after logging in.
Thus, only you will know exactly how to sign in successfully. Choose the type of calculator you would like to use either as a salary based or an hourly calculator. You can look at the top of your page and select the appropriate year and the state for which you want to create it.
Benefits Of Using An Excel Spreadsheet
Employers can easily create and design their own format. This written record will be able to accompany your salary check and outline earnings. An employer must use diligence and care while drafting it since federal and state laws require that you be sure about the information that needs to be printed out. However, the format and method of making is not regulated.
Hence, it is really easy for an employer to create free stubs. If the employers utilize a payroll service, they will receive it at no extra charge. However, if the employer will be paying an employee directly, the employer will be able to create it by simply typing the required and relevant information into this document.
The key section of a salary slip paper is the total earnings section. An employer needs to list all the earnings that an employee has earned in a specific pay period. For a salaried employee, the salary amount is pro-rated for the pay period and is usually clearly listed. For a hourly employee, the employer needs to list out the number of hours an employee has worked and also the rate of pay fixed as well as the net total amount of compensation that needs to be paid for a specified period. The earning section should also list any other form of compensation that is due to an employee. These will include commissions and bonuses.