The benefits of online paystub creation for your small business are numerous. You can save time by doing it all online instead of the lengthy process of printing them out and stuffing them in envelopes.
It is also much easier to do than any manual system. Easily set up variable pay stubs that fit your specific needs, with just a few clicks of the mouse. You can also save paper and help reduce waste by not having to print anything out.
And finally, you’ll be able to track your employees’ hours more easily than ever before! Here are some ways you can create an excellent experience for your employees today.
1) Time saved
The amount of time and effort that goes into printing out pay stubs is crazy! Pay stubs have to be printed out by an accountant or by the person in your company that processes the payroll for you.
It’s very time-consuming and also costs you money as you have to buy paper, envelopes, and the printer that performs these functions. When you combine all these costs, it adds up, and you really don’t have the time or money to spend on it or to be wasting paper and paper bags.
The cost and effort you have to go through are some of the main reasons why most people use an online paystub creator. With customizable templates, you can set up an entire system for your employees, and ensure that all of the necessary information is properly recorded, eliminating human errors made in pen-and-paper paystub creation.
2) Ease of Handling Errors
Paystubs have to be correct or else things can go wrong. When you can’t correct an error, there is a possibility that it will get passed down the line and cause issues for you and your employees.
You also don’t want an error to get made because it’s disrespectful to the employee. Mistakes that get past payroll go directly into the employee’s paycheck and if they go over the pay period or you are not notified, they will receive less than they should be.
These errors can lead to employee dissatisfaction and could end up costing you even more money. When you have an automated online system, you don’t have to worry about these issues because your pay stubs will be filled out perfectly. This will save you from the stress and the time you would have otherwise spent correcting any mistakes.
3) Integration with advanced payroll systems
When you use an online paystub generator, you are able to integrate with any advanced payroll system, whether it’s an Excel-based program or a streamlined cloud platform.
With this kind of integration, you will be able to automatically deduct your employee’s pay and automatically issue their pay stubs in a single click. This also allows you to calculate taxes and withholdings and receive a summary statement so that you can know everything about your employee’s pay and how much of it was actually paid out. This can be very helpful, especially if you are not a financial expert or have limited knowledge of payroll.
4) Establish a paper trail for payments
You’ll be able to keep a record of any payments made to your employees. With this, you can establish a paper trail and keep a record of every payment that has been made to your employees, including overtime.
You will be able to print out the record of each payment, including pay stubs and forms that will help you track how much you are paying your employees and what you can do to increase that.
When you have this record, you can then use it to negotiate for your employees, make future determinations about pay, or if you are having an issue with payroll, you can use the records to make a quick determination.
5) Streamline the invoice process
When you have the entire payroll process automated, you will be able to receive invoices in a more efficient manner. You will be able to receive the completed pay stubs and associated documents before your employees even receive them and have time to send them in, keeping you up to date and saving you a ton of money.
When you want to hire a good online payroll service, you want one that will help you streamline the entire process so that you can make more money.