With discussions on online payslips picking tempo in business circles, you might be left wondering what all the hype is about. Aren’t digital stubs essentially paychecks that show how much you earned in a pay period? Well, online stubs designed using professional check stubs templates have some significant bonuses over traditional paychecks. Using them can give you an edge in your professional life.
Advantages of Electronic Pay Stubs
Here are some significant ways in which online stubs prove to be invaluable in streamlining your business as well as personal finances:
- Reduced needs for storage
When you use electronic stubs, you can conveniently store them on your computer. You no longer have to cram your drawers with tons of papers. Nor do you have to rummage for that paycheck you really need to send to a potential future employer. All your payment information can be smoothly stored either in your hard disk or e-mail inbox. You can print out any check stub you need on a case-to-case basis.
- Simplifies tax-filing
Electronic stubs also make the process of tax filing easier. Since you have all the necessary payment records stored in your computer, all you must then do is print the required ones to fill your W-2 form. Nothing is more stressful than having to ferret out an accountant at the last minute or requesting your employer to issue new payslips for ones you have misplaced.
- Enhances your professional perception
A well-formatted, accurate piece of financial information usually bodes very well with future employers, investors and clients. When you use online stubs, you can select a template that suits your needs best. For example, StubCheck.com allows you to pick a regular template or an enhanced one with special sections for holiday pay, income from multiple sources, etc. Presenting such a detailed paycheck stub during an interview is likely to create a good impression.
- Accepted as a legal document
Online stubs are considered legal and acceptable proof of income in most situations. For instance, if you need to avail of an automobile loan or claim health insurance, you can present electronic payroll check stubs.
- Simplifies finances for independent professionals
If you are a freelancer, contractor or another independent professional, it is even more important for you to get your finances straight. You may not have your employer send you regular records at the end of a payment period. The onus rests on you. When you need to showcase proof of income, it is always better to produce neat and thorough documents.
This, however, is conditional on the stub creator you use. Not all stub generators on the internet are trustworthy. Some might produce fake paystubs that have mistakes in the deductions or tax calculations. The best solution is to choose a dependable stub maker that employs an updated algorithm for paystub-related calculations. At StubCheck.com, we make every required effort to keep our background calculations updated with the newest tax norms and deduction laws.
The business world is forever changing, which means entrepreneurs and employees need to work twice as hard to stay updated. Switching to electronic means for keeping records of your payments can be a simple but effective first step.