Do you have a small business? If so then you’ll understand the importance of getting payroll right for your employees. Perhaps you’re a small team and you can’t afford to have one of your numbers short-changed or waiting months on end for the correct payment.
You’ll no doubt want to think of a great payroll solution and using a paystub maker will certainly be a step in the right direction.
Here’s everything you need to know about how to make pay stubs online.
Automation Is The Future
Automation is the future when it comes to your payroll. Using a pay stub maker is the first step on the road to that process and making sure your payroll is accurate all of the time.
Imagine if you had to keep the payroll manually? Your poor accountant could be up for days every payroll checking that all the records were correct and copying each payslip individually for your employees.
In the future payroll will no doubt be calculated automatically from the amount of screen time your employees put in without you even having to lift a finger.
Keep the Taxman At Bay
Government income is increasingly tight: thanks to the pandemic Congress has maxed out on debt to keep small businesses that had to close afloat.
While this is to be applauded, the fact is the IRS will now be looking to recoup this money through any means possible over the next few years.
And if you create a pay stub it’s not only a record for your employee, it also serves as a record that you have paid your employees correctly and deducted the right amount of tax should the IRS could knocking.
Cut Out Errors
Your accountant no doubt has a lot to do and he or she probably just takes care of the bigger picture.
Although they will have separate accounting software to help them determine if a mistake has been made, an individual paystub can help see a single employee’s tax status. One example of where an error could occur is the new overtime rule that was introduced in 2020.
This means that both the employee and the accountant get a chance to check their records for accuracy and then to complain.
These records can be placed into a folder on a computer and then uploaded to the cloud and the company’s internal intranet. An employee can check their individual history and see how their most recent paystub compares with past examples to see if there’s in an outlier.
Paystub Maker: Essential For Business Today
Just as computers are now seen as essential to every business so too is a paystub. It can ensure that your payroll takes place every month on time.
It also ensures that if the IRS is to come calling you will have all the evidence to support your case that you have paid your employees properly and deducted the right amount of tax from them.
If you are interested in learning more about why you should consider using a paystub maker be sure to check out the rest of our site.