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Importance of Business Accounting

When you're making things like a paycheck, you're doing accounting. Know how important what you are doing is, and how you could get kicked out of business if you do it incorrectly.

Getting some free paycheck stubs

If you're looking for free paycheck stubs, good news! They don't exist! Or rather, there's nothing unusual about a paycheck stub aside from any other check stub.

But how about all of those boxes, you might ask. Well, you can print all of those boxes on a separate piece of paper. There's nothing saying that you have to have a certain kind of stub to run a payroll, just that you take out the right things and provide a written report to the employee of what you did. So if you're looking for a special format, there's really nothing to do. Of course, now you have a new problem: computing a pay check for your employer. That's a lot harder, but there's help.

If you're still looking to do it yourself, we have some templates you can download from the sidebar to the left. There's also a nice video on another page about doing it all in Excel. But think about it: creating paychecks really isn't like writing a Word document. There are a lot of legal things to consider.

Knowing the percentage of taxes taken out on paycheck

To know all the percentages taken out of a pay check in taxes, you have to be able to compute the taxes an employee might have to pay if he received a check like this for the entire year. This means you have to know a lot about taxes and accounting. Or you can just pay somebody else who knows all of that.

What to notice in your pay check stubs

If you're the one getting a pay check, what should you double-check? First, make sure your gross pay has been calculated correctly. That's usually how much you make per hour times how many hours you have worked. Most companies will provide both of those numbers on your paycheck. Make sure that's correct.

Next make sure that something is filled in for FICA, federal, and state taxes. Your employer is required to take those out, and if they're not doing that something could be really wrong (unless you don't make much at all or you're a contractor.) Finally check to make sure your pay check has any stuff taken out that you get to decide on -- stuff like a Christmas savings plan or money for your retirement program.

Paychecks shouldn't change much week-to-week, and it's a good idea to double check your stubs to make sure things are going along pretty much like always.