Pay Stub

A pay stub is a document that details an employee's earnings and deductions for a specific pay period. While traditional employees receive pay stubs from their employer, freelancers who are self-employed can create their own pay stubs to provide a record of their earnings and withholdings, which can be useful for purposes like applying for loans.

What is a pay stub?

A pay stub, also known as a paycheck stub, is a document that outlines the details of an employee's pay for a specific pay period. It typically includes information such as the employee's gross pay, deductions, taxes, and net pay.

What information is included on a pay stub?

A pay stub typically includes the following information:

  • Employee's name and address
  • Employer's name and address
  • Pay period dates
  • Gross pay (total amount earned before deductions)
  • Deductions (such as taxes, insurance, and retirement contributions)
  • Net pay (total amount earned after deductions)

Why is a pay stub important?

A pay stub is important because it provides employees with a detailed breakdown of their pay and deductions. It can help employees understand how much they are earning, how much is being deducted from their pay, and why. Additionally, pay stubs are often required when applying for loans, renting an apartment, or other financial transactions.

Can I access my pay stub online?

Many employers now offer online access to pay stubs through a secure employee portal. This allows employees to view and print their pay stubs at any time, without having to wait for a physical copy to be mailed or handed out. Check with your employer to see if this option is available to you.

What is Workmade?

WorkMade is an all-in-one banking and accounting app designed specifically for freelancers! WorkMade gives you access to: zero-fee business banking, automated bookkeeping, fast and easy invoicing, and quarterly tax estimations and payments.

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