If you have employees, it’s crucial to generate pay stubs for each pay period. Pay stubs serve as receipts of payment and withheld taxes. They also give employees a breakdown of their pay and deductions. It can be tedious to create pay stubs manually, which is why many employers opt to use a payroll service or software.
What is a pay stub?
A pay stub is a financial record of an employee’s paycheck and deductions. A pay stub shows an employee’s gross income during a specific pay period, including wages, commissions, bonuses, and tips. Pay stubs also list itemized withholdings for taxes, such as Medicare and Social Security (FICA), and deductions for items like health insurance premiums and employer-sponsored retirement plans.
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