6 Tips for Designing an Effective Pay Stub Template
With the advent of digital pay stub generators and free check stub maker, designing a customized proof of income has become much easier than it used to be. However, not all these tools offer professionally complete and detailed records. For ensuring that you generate accurate payslips for your employees or yourself, it is vital to employ a thorough template.
Designing Check Stubs: Information & Tips
Note that while all the information below may not be legally required, incorporating it can make things easier for you as an employer/employee during audits, loan applications, and while seeking credit facilities.
1. Include your company information
A prerequisite for any template you pick in a paid or free check stub maker is your company’s information. You should include the name of your company as well as the correct address, telephone number and license number. This will help to identify the company uniquely and make it simple for any auditor to get in touch, if required.
2. Include employee information
Paper- or online paystub should include all the required details about the employee, such as the full name, address, and telephone number. It is also important to include the employee ID, which should be unique for each member of the workforce.
3. Double check the check number
This is an important detail to avoid incurring logistical errors. If you mistakenly enter incorrect or duplicate check numbers, it can create a mess in your bank account. Furthermore, it might create vexing delays for your employees when they use their proof of income to avail of credit facilities.
4. Include payment details
Your gross pay is your income before deductions; the net income is what you get afterward. Deductions include state taxes, medical insurance, federal taxes, etc., and may vary across states. Even if you use a free pay stub maker, your chosen template should clearly depict these details, i.e., your gross pay, net pay, and payment period. If you have signed up for retirement plans or other customized deductions, these must also show up in your payment records.
5. Be mindful of state-wise laws
It is important to adhere to the rules and regulations in your state when working on this section of the template. One simple solution is to pick a paycheck stub generator that tracks the latest rules and keeps its algorithm updated. For instance, StubCheck.com uses a regularly updated calculator and adapts its templates to incorporate any changes. You can include more details than ever with the enhanced template or stick to the basics with a regular style.
6. Use company style and colors
To keep the design uniform across your workforce and reinforce the brand identity, you can use your company’s colors in the payslips. Your template may also include the slogan, motto, tagline, etc. A unified template exudes professionalism and plays its part in building the brand.
A correctly designed payment stub simplifies things for your business and makes it straightforward for your workforce to avail of loans, insurance and other financial services. Choose an updated and reliable paid or free check stub creator to get a head start on this key business function.