How would you like to cut down on the time you spend processing payroll? About half of small business owners who run payroll themselves find the process time-consuming and frustrating.
It’s confusing to know how much money should be withheld and enter all of that data for your employees. You could end up doing everything manually, which leads to costly mistakes.
Do you want to learn how to make pay stubs online free and ready to distribute? Read on to learn the top three ways to make pay stubs.
Tips for making Pay Stubs Online Free and Ready for Your Use
#1: Pay Stub Online Templates
One of the problems that business owners have with payroll is that they have to run calculations manually to determine how much tax is withheld and what the net pay is. Tax laws are confusing, especially in a progressive tax system like ours.
It’s common for employees to get underpaid and for businesses to pay too little in taxes. Both instances turn into big fines for businesses.
You can avoid that by using pay stub templates. Have you tried the pay stub templates? If you have, you’ll know that you just enter basic information about your company and each employee. The service calculates the taxes and net pay for you.
If you haven’t tried to use pay stub templates, check them out.
#2: Pay Stub Spreadsheets
You can use spreadsheets to create your pay stubs. Spreadsheets are a good option if you know how to set up formulas to calculate payroll taxes.
It would be a straightforward process if you’re calculating a flat tax rate. Since federal taxes depend on the filing status of the employee and how much they make, this isn’t that simple.
The problem is maintaining them. You might have one template that you use over and over again. You input new information every time you use the template.
You still run the risk of making a mistake. You can get distracted and then discover that you didn’t enter information. It’s an innocent mistake that can cause someone to get paid less than they should.
#3: Word Processor Templates
Did you know that you can use a cloud version of word processing software to make pay stubs? You can use Google Drive or Microsoft OneDrive to have online access to Google Sheets or Word.
Both options give you online access and storage to save the files.
The issue with using a word processor is that it doesn’t make the calculations for you. You can enter the information manually, but you have to take time to review your work.
How to Make Pay Stubs Online Free and Easy
Managing a business is already difficult. You don’t need additional headaches like managing payroll and paying a fine for tiny errors. That’s what happens when you do everything manually.
There are alternatives. You can make pay stubs online free and easy. You can use pay stub templates, spreadsheets, and word processor templates by using the right payroll services for your business. The important thing is to go with the system that saves the most time and minimizes mistakes.
Do you want more great business tips? Check out the Starting a Business section of this site for useful ideas.
