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Download check stub template in Microsoft Word format.
Meet Your Monthly Requirement with a Check Stub Template
Are you an employer looking for a check stub template to provide your employees with the required earnings and tax statement each month? Are you aware that many such templates are available directly over the Internet? It’s true. The Internet is a great resource for a number of business documents and templates and a check stub template is no exception. In this article we will briefly explain why a check stub is so important to your employees—including those being paid via direct deposit—and show you what pieces of information should be included on a quality check stub template.
Why Is a Check Stub So Important?
The check stub, albeit physically tiny in nature, is an extremely important document for your employees. There are several reasons for this, but among the most important of these are:
- Highlights the employee’s earnings for that period
- Shows how much is being deducted for taxes and insurance
- Is used as proof of income when making large purchases such as a car or home
- Helps employees calculate their tax obligation for a given year
As the employer, it is your responsibility to ensure that each of your employees is provided with a check stub for each period they work. Not only will it help them make sense of their paycheck amount, but it is an extremely important document in terms of taxes and proof of income. This holds true even if your employees are paid in a paperless manner through direct deposit. They are still entitled to this earnings statement for each period they worked and it is your responsibility to provide it.
What Type of Information Should a Check Stub Template Contain?
The check stub template should contain several key pieces of information, and while not all templates are the same, a good way to go about your search is to look for all of the following:
- Company Name. The name and address of the hiring company should be clearly listed on the check stub.
- Employee’s name and information. The employee’s name, along with address and social security number needs to be clearly printed on the stub.
- Period Earnings. Period earnings is the gross amount the employee earned for a given pay period (monthly, bi-weekly, etc.)
- Year to Date Earnings. Year to Date earnings is the running total of earnings for a given year.
- Tax Deductions. Income tax deductions, from the federal, state and local government should be listed next.
- Other Deductions. Deductions for items such as insurance, health and dental benefits, retirement and pension should also appear on the stub.
- Net Earnings. Net earnings are what the employee has earned, both in the present period and year to date, after all the deductions have been made.
Using a check stub template to provide your employees with this required information will save you a lot of time and money in the long run. The template can be used each month, and once the required data has been entered it can be printed for your employees, saved for your records, and then wiped clean again in preparation for the following month’s entries.