Your Employees Need Pay Stubs, Here Are 3 Reasons To Use An Online Pay Stub Generator
As a business owner or accounting professional, there are a number of things you need to stay on top of. From paying bills and payroll to various human resources undertakings, there are a number of moving parts. Among those responsibilities is providing your employees with pay stubs. Employees expect to get pay stubs and contractors sometimes expect them as well. Whether you are paying an employee or contractor, there should always be some sort of record that provides the details of the compensation you are paying.
In this article, we explore why you should be providing pay stubs as well as why an online pay stub generator is the best avenue to do this.
3 Reasons Why Your Employees Need Pay Stubs
First and foremost, it is your legal obligation to provide your employees with pay stubs in Canada. Employees have the right to request pay stubs at any time, even if they are from payments in the past. Pay stubs are legal proof of an employee’s earnings as well as proof of their employment. Beyond just your record-keeping and your employee’s record-keeping, there are a number of reasons that someone may need proof of their employment and income.
Second, it is only fair to ensure your employees know everything that you know about their payment. They have the right to have a full understanding of what they are being paid, what the deductions are, and the various types of income they are making.
And finally, pay stubs can be important for an employee who is applying for something like a loan, mortgage, credit, car, or anything that might require them to prove their income and employment status. Financing large purchases with supporting documentation is important in someone’s life and pay stubs are critical to the application process.
Now, let’s talk about why an online pay stub generator might be the best option for you.
3 Reasons to Use an Online Pay Stub Generator
The alternative to using a generator like OneTwoPay is often using spreadsheets and, frankly, there are better ways to spend your time. Doing your calculations and deductions manually takes your focus from your core business operations. Why build your own spreadsheet when you can use something better that someone else has already built? Online pay stub generators take only a few simple steps and you can create your pay stubs with accurate deductions in a matter of minutes and if you pick the right one, it won’t cost a fortune.
Next, spreadsheets and paper processes are error-prone. It’s easy to miscalculate a deduction or copy the wrong number over, but generators eliminate that possibility so you don’t have to get bogged down by the details or deal with the ramifications of making a mistake. When dealing with payroll, you want to be completely error-free; online pay stub generators help you achieve that.
And finally, generators like OneTwoPay ensure your data is kept safe. It’s easy to lose records when you’re dealing with digital and physical files. We keep your data safe and organized in one spot. That is one less thing to worry about when you’re tracking down records, generating T4s or looking back through an employee’s information.