Paycheck Stub Sample

By searching Google images, Microsoft Word, or an accounting program, you can easily find a paycheck stub sample. Perhaps you even have old paycheck stubs at home that you can peruse and see how they are laid out. Paycheck stubs have changed over the years. The information you find on them will vary depending on your state and the current IRS tax laws and what your own personal deductions are.

Some things you can expect to find on your paycheck stub are:

• REG - regular hours worked
• OT - overtime hours worked
• Holiday - holiday hours worked
• Vacation - vacation time paid for
• Sick - sick leave/time paid for
• FICA - Social Security paid
• Fed Tax - Federal Income Tax
• State Tax - State Tax
• City Tax - City Tax
• WKComp - workman's comp contribution
• Saving - money you are putting in savings

A more recent example of a paycheck stub

• Insurance/Medical - insurance you are paying for
• Life - life insurance you are paying for
• Christmas Club - another type of savings
• 401K/retirment - retirement contribution
• garnish - garnishment being taken from your check due to money owed
• Gross Pay - the amount of money you make before deductions
• Net Pay - the amount of money you make after deductions
• YTD - Year To Date

1981 paycheck stub

How to Create Business Paychecks

If you have your own business and need to print paychecks, there are several ways to go about this. A larger company will have a staff that handles all payroll issues and will probably use some type of computer program(possibly customized) to print out the paychecks. A smaller company may have a person on staff to handle bookkeeping, accounting, and payroll or they may hire an accounting firm or accountant. By hiring an accountant, you can get the professional services you need without some of the overhead (no benefits, no social security, no office space). You just pay the fee they require.

Another option is to purchase one of the many software products that are out there today that are designed to help the small business owner with a variety of accounting needs. You can create invoices, keep track of inventory, create payroll and paychecks, keep track of purchases, write checks, and find all kinds of reports that will help you with your business and its growth.

Why Do You Give Employees a Paycheck Stub?

What use is a paycheck stub? They aide your employees in several ways.

• Loan Applications - By using the numbers on a paycheck stub, your employee's bank can help determine their ability to handle a loan.
• Assistance Applications - By using the numbers on their paycheck stub, government agencies and others can determine whether or not your employee qualify for types of assistance such as food stamps, reduced or free school lunch, and Medicaid.
• Budgeting - By keep track of what they are are making, it can help your employee to prepare a budget
• Keeping Track of Hours - If your employee works for an hourly wage, they can make sure they are getting paid for the hours they put in.
• Keeping Track of Overtime - A lot of companies will record the amount paid in overtime separately, so again, your employee can make sure they received credit for hours worked.
• Filing taxes - Your having the information about your employees salary throughout the year helps you to create W-2 forms.

Another example of a paycheck stub