Insure Compliance of Your Company with Federal and State Laws
Employers must be provided with pay stubs showing proof of deductions for Federal income tax, Social Security and Medicare. This information is necessary to ensure that your workers are complying with all applicable rules.
You will need to make sure that your business falls within a specific tax bracket in your state. This helps you correctly calculate state taxes.
You should therefore research the laws in your state regarding pay stubs to ensure that your business is compliant.
Lower Overall Business Costs
Your business will save time and money by not having to pay extra printing costs for paper stubs. This includes both the actual paper cost for payment slips and the postage costs to send them out.
It is possible to save money on the envelopes needed for sending out pay stubs by using a pay stub creator. A pay stub generator is a great way to save money and also helps you make payments in an environmentally-friendly manner.
Help Your Employees With Their Payroll Systems!
The importance of Payroll Software for small businesses is immense. It allows employers to comply federal laws regarding payroll deductions. You can show your employees the amount they earned during the year ( proof-of-income/employment) as well as how much they have paid in taxes.
This information is important for employees because it allows them compare their earnings with what they expect to receive in a given pay period. This information helps employees determine the accuracy of tax deductions, based on the amount of their allowance and the type of income that they receive each month.
The pay stub generator allows workers to view and email their payment stubs online.
Many companies offer mobile apps that enable employees to access data from their smartphones or tablets on the move.