A payroll is a useful piece of document that your employees can use as proof of income. In many countries and for a lot of businesses, this kind of document is not necessary. It is not legally required. But, if you do provide it, your employees will definitely appreciate that. However, processing payrolls is not as simple as it sounds. The more employees you have, the more complicated it gets. So, what can you do to ensure that your payroll processes are accurate every single time?
Well, do not worry about this too much. You could probably find tons of information and guidance that can help you accurately process the information required for a real paystub.
Two lesser your worries even further and to make things easier for you, we decided to write this article and talk about exactly what you should be focusing on to make sure that you are always 100% accurate.
Always double-check the most important details
One of the most vital things you have to focus on is the most important and main information on these pay stubs.
That important information includes things such as the full name of your employee, their address, date of birth, positioning the company, gross salary, their bank account, deductions, taxes, etc.
These are those details that you will have to double-check every time to make sure that your payroll processes are accurate. If you do not, you might miss some valuable information which could ultimately lead to issues with your employee or even cause legal issues. Getting in trouble with the government is something that you definitely do not want to do.
Use tools to create a real paystub
Like I already said, accurately processing all of the information to provide a real paystub to all of your employees is a difficult process.
However, there is no reason to make this even more complicated for yourself when you can make it easier by using the right tools. These days, you could easily find desktop software, online tools, or even companies that can assist you with this process.
Of course, some of the software or company services may cost a bit of money, but in our opinion, this kind of service is definitely worth it. You will not have to worry about making any grave mistakes because these tools are going to ensure that your real paystub goes through all the required checks.
So, what do you need to do? Well, as seen on paystubsnow, first you will have to fill in all of the required information. Once the entire form is filled out, you will need to just preview the document to ensure that everything is correct and then continue.
Once you have purchased the real paystub, you will receive an email with the document ready to be printed in less than a few minutes. All in all, by using such an online tool or service, you will be done in an hour. I guess it depends on how many real paystubs you need.
These online paystub generators are a perfect solution for smaller businesses. Using this kind of service is definitely recommend.
Renew database information
To successfully double-check those important details you must be rounding time for payroll that are going to end up on your real paystubs, you will also have to make sure that the info you have on your employees is up-to-date and accurate. Every year or maybe every month, some of this info could change.
For example, an employee could get married which means they have changed their name. They may have moved too which means their address is now different. All of this may sound pretty insignificant and trivial, but as I said previously, even the smallest inaccuracies could lead to serious problems in the future.
To ensure that the info in your database is up-to-date, you will have to talk with your employees. You could either ask them personally or you can just send a questionnaire through email to every single one of your workers. Keep in mind, you will have to inform everyone in your business that this questionnaire is mandatory, it is not optional.
The sooner you have these details, the better.
Proper time tracking
To create genuine check stubs, you will also need accurate tracking of the amount of work your employees have put in. These details are just as essential as all of the other ones we have mentioned such as names, addresses, bank accounts, etc.
However, to accurately track hourly wages can be a bit complicated, especially if you have just expanded with more employees. With more workers, there is more work for you. Things get significantly difficult if you have to account for overtime too.
But, again, you can rely on technology to help you. Instead of wasting your precious time to track hourly wages and overtime manually, you can use tools and software to do that for you. Once you find and set up this kind of software, the entire time tracking process will be completely automated.
Not only will it be automated, but it also will be much more accurate. You will never end up paying more or less. You always pay exactly how much your workers have earned.
Get another pair of eyes
So, you have renewed your database information, you have double-checked every single detail on your real paystub and you have also used tools to your advantage for even better accuracy. To you, everything seems correct and accurate. All that is left is to printed and give out your real paystubs to your employees and you are done.
Not so fast. Before you do that, it is a good idea to get another pair of eyes that can assist you with reviewing the check stubs. A fresh pair of eyes can spot the mistakes that you have missed.
As you can see, ensuring that your payroll processes are accurate every single time is not easy, but if you follow these steps/rules that we have mentioned above, we are sure that all of your real paystubs will be legitimate.