Under the federal Fair Labor and Standards Act, you have to keep payroll records. In some states, you’ll need to hand out pay stubs to your employees. Often, creating pay stubs is the easiest way to keep good payroll records too.
A pay stub generator may be the best way to make sure you’re creating those documents accurately. What are the benefits of using a pay stub generator? This guide goes over the top five advantages.
1. Save Yourself Time
One of the biggest benefits of using a pay stubs maker is that it saves time.
How can it do that? With most modern pay stub generators, you just need to enter some information. The generator will do the actual calculations.
Since the generator already has the information it needs, you don’t need to spend time looking up withholding rates or other information.
You can also save information and templates. Once you’ve set up your templates, it’s quick and easy to generate pay stubs every payday. Given that payroll can eat up a lot of time, using a pay stub generator is a smart move.
2. Get Easy Access to Records and Safer Storage
Some of the benefits of using a paycheck generator online have to do with storage and security. Your payroll records are automatically stored on the provider’s servers.
The pay stub maker’s servers will have upgraded security, because they need to protect all their clients. They can focus on security, while you put your budget dollars to other items for your business.
Since the payroll records are all stored this way, it’s also easier for you to find them. If an employee says they never got a stub or they lost one, you can easily retrieve it.
3. Get the Right Tax Information
As noted above, a pay stub generator will do most of the calculations for you. You’ll need to provide information, such as what state you’re in, as well as the employee’s hours worked and their rate of pay.
To see this in action, you can check out this brilliant paycheck generator. Like other modern pay stub generators, it already has the tax information plugged in. You don’t need to worry about errors in withholding.
That can help you avoid penalties and more.
4. Reduce Errors on Pay Stubs
Much like a paycheck stub generator can help you get the right tax information and withholding rates, it also reduces other errors.
No employee wants to find errors on their paychecks. A pay stub generator can help you make sure there are none.
5. Create Professional Pay Stubs Tailored for Your Business
Finally, any modern pay stub generator will have templates that you can choose from to set up your pay stubs. They’ll always look sleek and professional. They’ll also contain all the correct information, as well as any other information you want to include.
Benefits of Using a Pay Stub Generator
There are so many benefits of using a pay stub generator, especially for small business owners. If you’re not already using one to help you keep better payroll records, it’s time to get started.
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