There are many reasons why you might want to make your own pay stub. Perhaps you’re self-employed and need to generate a paystub for tax purposes. Maybe you’re starting a small business and need to create pay slips for your employees.
Or maybe you just want to be able to control the information that’s included on your paystub. No matter what your reason and goal, you’ll be happy to hear that it’s possible to create your own pay stub!
Keep reading to discover the different ways to make your own pay stub, the benefits of making your own pay stub, and what to include.
Benefits of Creating My Own Pay Stub
Making your own pay stub comes with a long list of benefits. For one, it can help offset your business income. If you’re self-employed, you can use your paystub to deduct business expenses come tax time.
Additionally, being able to make your own pay stub means that you can pay yourself like an employee. This is especially helpful if you’re trying to save for retirement or building your emergency fund.
Finally, creating real pay stubs gives you the ability to control the information that’s included on your pay slip. Essentially, it gives you the ability to choose to include (or not include) whatever information you want.
Different Ways to Make My Own Pay Stub
There are many ways you can make your own pay stub. The first and most popular way is to use a pay stub generator.
Using a Pay Stub Generator
A paystub generator is generally a web-based tool that allows you to create custom pay stubs. Oftentimes, all you need to do is input your personal and financial information, and the generator will create a professional-looking pay stub for you.
Using a Template to Create My Own Pay Stub
The second most popular way is to use a template. In most cases, you can find websites that offer free pay stub templates for download.
This is an easy option as well because it requires only three steps. Download the template, input your information, and print out the pay stub.
Create a Pay Stub From Scratch
The last option offers the most customization and control but also requires the most work. It’s to create your own pay stub from scratch. However, if you choose this option, you must always remember to include the necessary information.
This includes your name, contact information, gross income, deductions and net pay. This information is the basic information you’ll find on any real pay stub or pay stub example, regardless of type.
Making My Own Pay Stub
Creating your own pay stub is a great way for any business owner or self-employed individual to offset some of their business expenses and tax liability come tax time. It also helps that you can control all the information included.