While there are many different computer programs that can be used when creating a sample pay stub template, an Excel pay stub template gives you the most options, and the program is very easy to use. Below are just some of the topics that should always be included when developing one of these templates:
• Company Information. The company information section, which is really nothing more than the name and address of your business, is an item that must appear on your template, but the good news is that it will only need to be typed once. After that it can be used over and over again each pay period and with each employee record.
• Employee Information. Entering the personal and payroll information for each employee is really the only time-consuming aspect of creating an Excel pay stub sample, but fortunately, this too will only need to be created one time. Once this information is entered into the database it can then be used each time you create an employee pay stub. Additionally, this list can be easily updated in the event of an address change, change in job title or pay rate and when hiring new employees.
• Income Information. The income information consists of both gross and net income, also known as pre-tax and after-tax income respectively. These amounts are based solely on the employee’s hourly rate and the number of hours he or she worked in a specific pay period, including overtime hours and the appropriate pay rate. Once your sample pay stub is set up with the proper formulas, these amounts will be automatically calculated by the template.
Of course, the final portion of your sample pay stub will consist of a series of formulas created to calculate the appropriate percentages of the various employee deductions. Check Stub Maker include, but are certainly not limited to, local, state and federal income tax, social security, disability insurance, health benefits, pension, and retirement savings, along with any voluntary or charitable contributions the employee opts to have withheld from his or her earnings.