In this article, you’ll find a variety of pay stub templates in Word, Excel, and PDF formats that are free to download. But for small businesses and organizations that issue both electronic and physical paychecks, a pay stub template is a great option to help save time and streamline payroll management. With the increase in electronic payments, some companies provide employees with an electronic pay stub as well, which can be printed to create a hardcopy. Some government agencies pay employees or vendors with payroll warrants, which look like regular paychecks but issue funds from an associated treasury department rather than a bank account. For employees without a bank account, companies can issue payroll cards that they can use like a debit card. Many employees prefer to receive electronic paychecks so funds are deposited directly into their bank account each month. Paystubs also help protect employers by creating a record of accurate and timely payments.Īs mentioned above, employees receive payment in a variety of ways. Regardless of the name, this important document provides employees with information on wages and benefits for accurate record-keeping, tax filing, and proof of income or employment. Depending on the workplace, this document may be referred to as a payslip, pay advice, check stub, or simply paycheck. A pay stub may show the amount earned for the immediate pay period as well as total year-to-date earnings. Whether an employee receives paychecks via direct deposit, physical check, or payroll card, a pay stub is typically provided as documentation of payment received.
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