Payroll and tax laws change all the time. Take New York State, where the IRS altered reporting requirements for businesses this year.
Now, New York State employers must file taxes every quarter. Before, employers reported wage withholding and tax payments to the IRS each year.
For business owners in New York and other states, there are a couple of ways to make compliance easier for you and your workers. Read on to find out how to create a pay stub for your employees.
1] The Right Tool for the Job
To make employment pay stubs, you need an online pay stub maker. An online pay stub maker will give your document a uniform and professional look.
You could figure out the right tax withholding yourself or have the online pay stub maker calculate it for you. Once you enter your employee information, there’s a small fee for completing your order.
If you need a pay stub generator, or you want to see what one looks like, visit https://www.pay stubcreator.net/create-stub.
2] The Devil’s in the Details
It’s not enough to manually write a check for employees. Yes. People enjoy getting paid, but they also have responsibilities to the IRS.
Workers need to know what taxes you withheld, how many hours they worked and other relevant information. Also, they need detailed pay stubs if they ever need to do anything important like buying a home or car. When needed, you can issue one using an online pay stub generator.
3] How to Create a Pay Stub Step-by-Step
Using an online pay stub generator is fast and easy. You can make a professional looking pay stub for your employees with just a few simple steps.
- Navigate to the website.
- Choose a pay stub template.
- Fill out your employee’s information.
- Fill out the worker’s salary information.
- Review your submission.
- Select your delivery method, and pay for your order.
Now, you have an official pay stub for both you and your employee.
4] Do You Have Many Employees? No Problem!
If you have many workers, there’s a more effective way to place your order than entering employee pay stubs one at a time. You can use Excel to make a spreadsheet to upload to your pay stub provider.
Ordinarily, the pay stub provider will want you to save the file in. CSV format. You’ll make a heading column with the information that the pay stub provider needs.
Next, enter the information for all your employees. Now, upload the file to the pay stub provider, and the company will prepare your order.
5] The Big Picture
Now that you know how to create a pay stub make sure that you keep proper records. Get an Employer Identification Number from the IRS. Now you can set up payroll for your business.
Also, use human resources software to collect and secure your employees’ private information. Today, even the smallest businesses can afford online HR software. You should also establish payroll policies that work best for you and your staff members.