When setting up payroll for your employees, it can be difficult to decide which paystub software to use. It is a legal requirement to provide your employees with a paystub for each payment they receive. However, there is no law governing the software you have to use to create the paystubs.
Whether you are looking to reduce costs in the current economy or setting up a business for the first time, a lot of employers are considering the cost of payroll software. Are you asking yourself if it is worth paying the price for specialist software? We have some details below to help you to make that decision.
Legal Requirements
When completing payroll, you should always look at the legal requirements for the state you operate in. The information legally required to be shown on a paystub can differ from one state to another, so always check the state regulations.
You are not compelled to use specific software to create your paystubs and so are not limited to prescribed fees. If you are required to file your payroll details with the state, you may have purchased software in order to do this. Some payroll software includes the ability to create paystubs to provide to your employees, so it is cost-effective to use the software to create the paystubs.
However, if you do not have to file returns with the state, or if you choose to use a payroll software that does not generate paystubs, it may not be necessary to pay for a second piece of software to do this for you.
Paystubs
Creating paystubs for your employees is not a difficult thing to do, provided you know what you need to include. If you are unsure of the information required, it is best to look this up to ensure you comply with state legislation.
Paystubs are important to your employees as they may be needed for identification purposes or financial purposes. Paystubs are required to file an employee’s taxes and will also be needed for proof of income for buying or letting a residence in addition to other financial services.
The paystub you provide to your employee does not need to be extravagant, and providing it includes all of the required information, it does not need to be a lengthy document either. When receiving a paystub, your employee is interested in it being accurate rather than the software used to create it.
With all of this in mind, we have found that it is definitely not necessary to pay for payroll software just to generate a paystub. You can generate paystubs quickly and easily using a free paycheck stub maker at https://www.thepaystubs.com/. We have found that the free generators are just as accurate and effective as those that are paid for, leaving you free to spend the money you would have otherwise spent on paystub software on other items for your business.
This may seem like an insignificant saving; however, small savings in multiple areas will add up.
