Being your own boss has certain advantages, as you only answer to yourself. However, you also have to do everything else yourself—even creating your own pay stubs.

No matter how difficult creating these documents might seem, you’re obliged to have them by law, and you’ll definitely need one if you decide to apply for a loan. The good news is—there's an easy way to get a perfect pay stub, and we can help you do it in no time!

Not only will Paystub.org show you the easiest method of making a pay stub, but we’ll also discuss the importance of this legal paper, so let’s take a closer look at this matter!

A pay stub is a legal document issued by an employer that outlines the details of an employee's pay.

The document is also known as a “paycheck stub,” “payslip,” “wage statement,” or “check stub.” It displays all taxes, benefits, and deductions taken from the employee’s gross salary. Most importantly, an employee gets a written record of the wages they’ve earned during the pay period.

Pay stubs are given to employees separately from their paychecks at the end of each pay period. This could happen weekly, 

, bimonthly, monthly, or annually, depending on the company’s rules. They are usually created and handed out by the HR or payroll staff.

Nowadays, pay stubs are given out in PDF forms, which employees can then easily print or simply store digitally.

A pay stub is an incredibly important document for both employees and employers.

Firstly, pay stubs can prevent and resolve disputes between the two, allowing both parties to track everything related to the pay.

With these, employees can ensure that they’ve been paid the correct amount and that the tax is paid as well. They can also use pay stubs as proof of income when applying for loans. Most real estate agents and banks nowadays accept this document as proof of income, allowing employees to purchase property and apply for housing and other forms of credit.

On the other hand, pay stubs are also important for employers, as they’re obligated by law to provide them to their employees. This is because the 

 requires employers to keep records of their employees' payments and work hours.

As mentioned previously, a pay stub displays crucial information regarding an employee’s pay, such as:

. This section of the pay stub needs to specify the actual day the employee gets paid (pay date) and the period the pay date covers (pay period).

. The pay stub needs to display the name, contact information, addresses, and other vital information regarding the employer and employee.

. The pay rate is the exact amount of money an employee is paid by the hour. This section also needs to state whether the employee receives their salary weekly, bi-monthly, monthly, etc.

. Gross wage is the amount an employee earns before taxes and benefits have been deducted. It includes regular hourly wages, salary, overtime wages, holiday pay, commissions, tips, bonuses, and other payments.

. This section needs to include Social Security tax, FICA tax, Medicare tax, and other taxes that are going to be deducted from the employee’s wages for the pay period.

. All employees pay their own payroll taxes. These aren’t deducted from their gross wages and include contributions such as 

, health insurance premiums, national insurance, etc.

. Net pay is the amount of money the employee will take home after all deductions have been made.

. Last but not least, a pay stub needs to specify the employee’s direct deposit details, such as bank account number, bank routing number, and other necessary information.

How to Create a Pay Stub for Self-Employed People?

If you’re self-employed and you need a pay stub, you can either create one yourself or use an online generator. The first option is quite difficult and time-consuming. On top of that, there’s a chance you can make a mistake, which can lead to a legal headache.

! We’ll create this document according to the information you provide us with, and the whole process will take only a couple of minutes. All you have to do is:

Customize your pay stub by choosing a template

Preview the pay stub and proceed to check out

Once you’re satisfied with the pay stub, we’ll generate the document and send it to you via email in no time.

Still can’t decide whether to use our pay stub generator? Here are some of the reasons why most people opt for it:

. One of the most common reasons why people use online generators is that making pay stubs with them is super easy. All you have to do to get this important document is fill out the blank fields and download it in PDF form.

. Creating pay stubs from scratch in Word or Excel is time-consuming, especially when compared to making pay stubs with an online generator, which takes only a couple of minutes. On top of that, you can reuse the template for multiple employees!

. Unlike paper documents, electronic pay stubs are super easy to store. You can’t lose them in an accident since they’re stored digitally, and on top of that, they’re eco-friendly.

. Inputting numbers into a pay stub on your own is bound to produce some errors. Using an electronic pay stub generator minimizes your manual work, as all you have to do is enter the information you have, and the generator will do the rest for you.

. If you have an employee whose responsibility it is to handle payroll and bookkeeping for you, you can free that person up for other tasks by using a pay stub generator. Why would they be inputting numbers into a spreadsheet all day when you can use a generator and get a top-notch pay stub in a couple of clicks?

 to have proper documentation of payment for your work. If you’re uncertain whether your state requires pay stubs, you should consult with a specific 

 and make sure you aren’t missing out on any documents.

At the end of the day, if you’re self-employed, the chances are that you’re going to need pay stubs if you don’t want to encounter any legal issues. On top of that, having pay stubs will allow you to apply for loans. They’re also convenient and can save you some money.

If you don’t want to waste your time creating pay stubs on your own, you can use a pay stub generator to easily create this document and personalize it according to your needs.

Looking for a solution that won’t break the bank? Check out what we have to offer, and feel free to 

 for any additional information regarding pay stubs or other legal documents.

Yes, you can create your own pay stub. You can either create the document manually, which takes a lot of time and effort, or use an online pay stub generator to get a pitch-perfect copy of this document.

#2. How do I prove my income when self-employed?

Some of the documents you can use to prove your income when self-employed are 1099 Forms, bank statements, profit/loss statements, etc. Yet, the easiest way to prove self-employment income is to use pay stubs.

Some of the information that goes on a pay stub includes the pay date and pay period, the pay rate, gross wages, net salary, taxes and deductions, and other important details regarding the employee’s pay.

#4. How long should I keep pay stubs for?

Equal Employment Opportunity Commission (EEOC)

, you should keep your salary pay stubs for at least one year.

Age Discrimination in Employment Act (ADEA)

 and the Fair Labor Standards Act (FLSA) require you to keep your records for three years. Last but not least, the 

A pay stub, also known as a “paycheck stub” or “payslip,” is a legal document issued by an employer that outlines the details of an employee's pay.

Pay stubs are important because they can prevent disputes between employers and employees, and because the latter can use them as proof of income when applying for loans.

All employers are also required by law to provide pay stubs to their employees.

Among the details you can find on a pay stub are the pay date and period, pay rate, gross wages, net salary, taxes and deductions, and other important information.

The best way to create a pay stub is to use an online pay stub generator.

A pay stub for self-employed people is a must have. If you need this document yourself, read our article and find out how to create one easily!

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How to Create a Pay Stub if You Are Self-Employed