Did you know that 54% of the American workforce, or 82 million people, are affected by payroll problems? A small or large business must take payroll into account and the paperless paycheck stub has been the popular cost-effective choice.
Paperless pay stubs can help companies save money and give employees access to their pay information that they can save electronically. Learn more about why moving to the paperless check stubs is a beneficial move.
What is a Pay Stub?
A pay stub provides detailed payment information for the employer to help them keep track of who they’ve paid and for the employee to keep track of taxes they are paying and that they owe along with other salary information.
An employee may need a pay stub to get a loan or to rent an apartment and its important that they have easy and quick access to them.
Direct deposit makes it easy for employees to get paid, paperless pay stubs make it easy for employees to download and store their payment information electronically for as long as they need it.
How to Set Up a Paperless Paycheck Stub
Did you know it can cost up to $2 for a business to cut and copy a check for a single employee? At a medium or large-sized company, this can add up to a lot of money over a year.
A third-party payroll service can be very cost-effective and helpful to businesses because it allows for employees to create online accounts with the payroll service.
Using that account, they can download their paperless check stubs directly from the payroll website and save to their desktop, in a folder or wherever they see fit on their laptop computer.
Start using the check stub maker and set yourself up online and paperless.
For small business owners, looking at software, an accounting firm or payroll service can be helpful, depending on budget, number of employees and what would be most efficient.
Federal vs. State Laws
The federal government may not have overarching laws that require pay stubs, but there may be laws depending on the state.
No matter what the federal or state laws are, an employee has a right to request payroll records because of the Fair Labor Standards Act. This requires companies to keep track of employee’s payroll records, which includes wage information and hours worked.
States may require that companies give employees the option to get a paper pay stub, but employees can opt-out of that.
An online direct deposit pay stub can satisfy the legal requirements and provides the level of access that employees have the right to see for their payment information.
Go Green and Get Online
Not only is a paperless paycheck stub cost-efficient for employers and provides easy access and storage for employees, but it is also environmentally friendly. You are saving paper, one paperless check stub at a time.
Start using paperless paycheck stubs today or read more about what’s going on in today’s world here!