What are PayStub Deduction Codes or Abbreviations
FED TAX: Federal Income Tax Withheld
STATE TX: State Income Tax Withheld
MEDICARE: Federal Medicare Withheld
LIFE: Life insurance deductions
GROSS: Earning prior to deductions
YTD: This is the year-to-date code
ERA - Educational Retirement Act Contributions
FICA - (stands for Federal Insurance contribution act) Employees Portion Of Paid Social Security
How do I create a pay stub for myself if I am self employed?
It’s very simple. The only difference between having employees and being your own employee is that the company and employee addresses would be the same. Typically, independent contractors would you this form, as they work for themselves. It’s a good idea to start this because if you ever hire a helper, you can simply copy the paystub template style over to them, with their information and address. Self Employed still means you are an Employee. This should be shown in your paycheck stubs.
One thing to keep in mind, if you are an independent contractor, is that you may work on projects vs full time. Please speak with an accounting professional as to how you want to structure yourself in this regard. Hourly or project based or self paid salary. These are all good options, but, you have to choose which is best for you.
Can you make a pay stub for free?
Yes, You can make a paystub for free. But, remember, “you get what you pay for”. There are competitors that try and convince you it’s a “free paystub”. But, that doesn’t exist. It’s just fake marketing, and most are smart enough to know that. It’s just a tactic to get you to lock in with them. We don’t play those games. You can create a free paystub here as well, but, rarely do you need only one paystub. You usually need your history, from when you started, you need different styles, deductions, etc. That takes calculations and some time to make.
How does the pay stub maker work?
That’s easy. All paystub makers work in similar way.
1) Enter your Company Info and Employee info. Example: names, address, wage
2) Deductions and withholding are calculated
3) Click FREE PREVIEW to see if you like it and all is correct
4) You can buy it or change it to make sure it is accurate.
If you want more detail, our website allows for more options:
a) Different styles
b) Add logo
c) Add garnish of wages
d) Add Medical bills
e) Add Commission, etc
f) See all history of your past pay stubs
What is the best pay stub maker?
The best pay stub maker is the one that you will like to use. That can be anything from Excel, Quickbooks, our competitors or our site. Of course we are partial, but, we are also genuine. We are payroll specialist, we provide payroll services, We provide bookkeeping and Accounting services inhouse. So, we cater to all SMB’s for their needs.
What is a pay stub?
Good Question. In simplest terms, think of it as a receipt of your pay. A pay stub is a record about an employee’s income with a breakdown of how the funds are divided up between income and deductions. Employers usually provide this description to help the employee understand where their money is distributed to, and as a record for any discrepancy. This can be done on paper or digitally. A paystub is not a check. It is simply an explanation of funds
Basic Informaition Includes:
1) Company name & address
2) Employee name & address
3) Employee Income data such as Pay Period Length, Pay Date, and Pay frequency
4) Employee deductions
Advanced Paystubs can include more:
A) Personal Witholdings
B) Company Notices and Communications
C) Clearer template styles
D) Company Logo
E) Savings goals and motivation items
Free Paystub Maker preview
An example of our modern style stub template, with more styling and layout aspects to it. There are more fields and more calculations to make your paystub more detailed, and clean. To get started, just enter your Company Name and Address, then your First/Last and Address. Your SSN and the state you live in. It's that simple.
Since this is the MODERN Advanced, there are more options available. As you can see in the picture, you can separate the Overtime, from Holiday, to Vacation. Even a Bonus / Float. All these values get calculated in the total.
No complicated Forms. Simply type where the text will be. What you see is What you get
The paystub form looks like the document that you will print out. This is truly WYSWYG - What you see, is what you get. It makes it clearer and less prone to errors. Notice the INPUT PAYSTUB FORM on the left.. and the resulting PAYSTUB on the right
The Pay Stub maker requires your basic info:
- Base wage
- Overtime rate
- Hire date
- State of Residence
The Pay Stub Maker software will calculate the rest, including witholding taxes, deductions, loans, etc. Plus we will show you YTD information, real time, live, as you type.
Plus Plus, we also offer your back paystubs to be fully editable. So you are not stuck with just one.
We understand, that sometimes you want a customized paystub solution, for example as an Independent Contractor. so you can simply turn off the auto-calculate option, and put in your own numbers. This Company Paystub is one of many paystub templates we have available for you.
We try to make an update them constantly if we see a need for improvement. If you see any errors or upgrades, let us know. We have many things we want to be added, but, we also try to keep complexity down to a minimum. If you are having trouble, then try our sister site at www.paycheckstubonline.com