In 2017, an estimated 82 million Americans had problems with their paycheck. The errors included incorrect payments, non-payments, overpayments, and late payments too. Experts have attributed the source of the errors above to lack of using a Pay Stub Portal.
By using a pay stub portal, catching the errors above is very easy. Not only that. You enable your employees to track their salary information, and taxes paid.
What Is a Pay Stub?
This refers to a section of the paycheck that details the employees to pay. Apart from itemizing the employee’s pay, a pay stub also contains the taxes, deductions and the net pay. There are many reasons why you need a paystub or copies of it.
They include:
- Securing credit such as home finance, car finance, or credit card
- As proof of employment
- Acts as proof of payment for tax return filing and income
- It’s a requirement when looking for a home to rent
Without a paystub, getting home finance or car finance is difficult. Also, you could be penalized by the IRS.
Benefits of Using a Pay Stub Portal
There are many advantages to using a pay stub portal. In this post, we highlight the 5 reasons why you should be using a pay stub portal for your business.
Reduce Paper Usage
In the US, the average employee in an organization uses 10,000 pieces of paper a year. When it comes to filing, the average company spends $20. If your account for storage costs, the expenses go higher.
When you choose a Pay Stub Portal, your business gets to go paperless. As such, you reduce paper usage. This translates to savings which can go towards other vital office expenses. Also, it’s environmentally friendly and allows your business to reduce carbon footprint.
Saves Time
Are you tired of tracking the payroll manager to check up on your salary information or to correct errors in your paycheck? Want to have access to your salary information from the comfort of your workstation? Most businesses that have yet to understand the advantages of using a pay stub portal are still going manual.
As such, employees waste a lot of time tracking the payroll manager on salary matters. To save time and improve information tracking, businesses need to invest in a Pay Stub Portal.
Learn more about the instant online pay stub generator at ThePayStubs.com and simplify your payroll process.
View Your Tax Information
As an employee, you are required to file taxes on your income. This process is carried out by the payroll department. As such, the information is made available on your pay stub. With an AI fused app, employees can track their tax paid and withholdings information.
This helps to ensure they are on target and not on the bad side of the IRS.
Track Your Employees
As an employer, using a Pay Stub app can help you track your employees. For starters, it allows you to know more about your employees’ payment history. Using the pay stub, you can make monetary adjustments to address employee satisfaction.
If you want to know if your employees are happy or not, invest in a pay stub software.
Ease the Payroll Process
If you have a small business with less than 10 employees, you may decide to carry out the payroll process by yourself. To ease the payroll process, use a Pay Stub online app. The app will allow you to process payroll on time and from any device.
If your business grows, you can delegate the task to an employee. This ensures your employees’ payroll is processed on time.
Best Pay Stub Portal for Your Business
A pay stub portal allows a business to be tax compliant. As such, the business avoids getting penalized by the IRS for errors in the tax information. Other benefits include going paperless, no document storage, and fast tracks business growth.
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