Pay stubs help employees track their earnings, and apply for credit cards, loans, and mortgages, among other things. Small business owners can take advantage of free pay stub generators to create their employees’ payslips.
Making a pay stub is straightforward if using the right tool, and today, there are numerous such programs online. Business owners can head online to use pay stub generators from the various companies offering them such as this one. Alternatively, they can download free pay stub templates, which they casn then customize according to their needs.
Here is why any business owner should consider making a pay stub online for each employee.
Keep Employee Data Safe
When a company prints out paper payslips, it posts them to its employees’ home addresses. Alternatively, it can manually distribute these payslips in depots, stores, and offices. The delivery process introduces vulnerability since there is a risk of these payslips getting misplaced or delivered to the wrong persons.
Pay stubs can help eliminate this problem since they offer better data protection thanks to the strict secure solution that requires employees to use unique information. Such information includes passwords, security questions, and usernames.
Employees’ data protection and security are paramount. That is why any business owner should consider using an online pay stub option that offers extra data protection such as a two-level employee login process. The pay stub generator should also offer strict administration access and two-factor authentication.
When a company hires someone to go through a spreadsheet manually inputting all its employees’ numbers, it is not only exhausting but also creates a likelihood of errors. A tiny error can be disastrous for any business. The error could also take time to resolve if pushed through, which can greatly affect how much employees get paid.
Pay stubs help limit errors since there is minimal manual work involved in the whole process. All that is needed is inputting the right information while the generator does the rest.
Avoid Legal Problems
It is considered illegal to not pay employees their salaries on time and also to withhold any proper payment documentation. Employees have the right to view how much they are earning, amount of taxes withheld from their payslips, and how many hours the company has documented.
Offering employees pay stubs is the only way they can determine whether their pay is accurate, and withholding such information from them could lead to legal issues for a business.
Be Environmentally Conscious
Electronic pay stubs are one way for a small business to improve its impact on the environment. That is because by using online pay stubs, they reduce their paper usage. The move can inspire and motivate employees who wish to work in an environmentally friendly organization, and attract more customers who prefer buying things from such companies.
As mentioned, making a pay stub online is easy when using the right pay stubs generator. That is why any freelancer, small business owner, or contractor who is still doing things manually when it comes to generating pay stubs should consider keeping up. They should agree to grow with their businesses and embrace online pay stub generators that come with numerous benefits as seen above.