Local Payroll Experts Detail Pay Stub Contents
Almost every time someone gets a paycheck, they are much more concerned with the check than the stub. However, pay stubs are an important part of the payroll process, and they can be helpful in many ways.
As a leading provider of payroll services, we have worked with companies here in the Bay Area and around the nation to help them reach their business goals. Our team has experience working with companies of all types, sizes, and industries, and we are the perfect partner for any business which is looking to streamline their payroll process and remain in tax compliance at all times.
Because pay stubs are often overlooked and we occasionally get questions about them, we wanted to put together some information which could prove useful about these documents. Read on to learn more about pay stubs, why they are important, and what we can do to help your company’s payroll process as a whole.
Pay Stub Contents
While many people are concerned with the take-home or net pay number at the bottom of a pay stub, they contain other helpful information for employees. Generally, pay stubs contain pertinent information such as the employee identification number, the name and address of employee and employer, and balances of paid time off for the employee. In addition, information regarding the current pay period is included, such as hours worked, the date of the pay period, and tax information (more on this in the next section). Finally, information about healthcare costs, retirement contributions, and other pre-tax deductions are also present.
Pay Stub Calculation
Calculating the information which is present on a pay stub can be challenging, but it’s essential for this data to be accurate. Taxes are FICA contributions as well as local, state, and federal taxes when applicable. Deductions such as wage garnishments, 401(k) contributions, insurance payments and more must be taken into account before calculating taxes. Overtime and bonuses also affect how each pay stub will be calculated. As you can likely tell, without the right system in place it is hard to keep track of all these variables and make the right calculations for each check.
Pay Stub Access
While employees generally get a pay stub along with each check, constant access to pay stubs is important. This has become more challenging as people move to direct deposit and other paperless methods of payment, so employers must be cognizant of pay stub access. It’s important for employees to have access to pay stubs because they are needed in many instances, such as applying for housing or verifying employment for social services.
Professional Assistance Available
If you are an employer who is looking for assistance in processing payroll, our team of local pros can help. Processing paychecks and providing access to pay stubs are just part of what we can do. If you’re ready to learn more about how we can help and the scope of our services, please contact us today.
