The amount of financial paperwork involved in running a business seems to never end, from outgoing orders and sales slip to the enormous amount of information it takes to create your employees’ paychecks. If you are using Microsoft Excel to manage your finances you will find that there is an easy way to take care of your employees’ needs with a blank ready to fill in Excel pay stub. Since you are tracking their hours and pay rates using your database, there is no reason you should not put this information to good use and save yourself a lot of time.
What Is a Blank Excel Pay Stub?
Any time you have employees who receive a paycheck whether it is weekly, bi weekly or monthly, they have a legal right to know how much they have earned and what deduction have been made from their gross salary. There are many different types of pay stubs templates you can use, however if you are using Excel the best possible way to create one using the blank excel pay stub template.
This simple addition to your existing Excel software is designed to make the task of filling in the correct information as easy as click on the create pay stub button. The software will do the rest for you by extracting the information for each employee directly from your current database. Using this software is also the best way to ensure that no mistakes are made and your employees are paid properly.
What Information Can be Entered on a Blank Excel Pay Stub?
While each template may be slightly different and can be custom tailored to your system of pay, whether you pay by the hour, the week or a monthly salary, they all should contain a certain minimum of information. In most cases the federal laws cover what needs to be on a pay stub, the basic information must include gross pay, federal income tax, state income tax, social security and Medicare deductions.
In those areas with city or local taxes, these must be shown as well along with any pretax deductions such as health insurance or 401K retirement deductions. Using an Excel pay stub that is blank allows you to create areas to list all of these deductions and end up with a net pay figure which should match how much is on the employee’s paycheck. Using the right type of software and pay stub template can take the usual payday nightmare and make it into a simple push of a button affair. This means that you will have more time to concentrate on running a successful business and less paperwork hassles each pay period.