A Digital Era: 7 Important Reasons Why Creating Paystubs Online Can Benefit Your Business
There's really no doubt at this point: the digital age has arrived. Just about everything these days is digital, particularly in the world of business. One of the great improvements made in the digital age is the digitization of paystubs. Online paystubs have had many positive effects on the companies which use them, improving workplace efficiency, security, and a variety of other entities.
Wondering why you should create a paystub online? Here are 7 important reasons to do so.
Also read: Use Your Pay Stubs To Build A Monthly Budget
Makes Record Keeping Easy
Creating paystubs for your employees isn't just for the benefit of your employees. It's beneficial both for you and your business as well. After all, the payments you make to employees have a direct influence on your business' finances and tax liability. Paystubs essentially act as record-keeping devices for these entities.
While physical paystubs can be useful for record-keeping, they're not nearly as useful as online paystubs. When you issue paystubs online, the information contained within them is automatically logged. The algorithm contained within the paystub generator does all of the calculations for you, saving a great deal of time and effort, and simplifying your payroll processes.
Also read: Getting Pay Stubs Online
Reduces Mathematical Errors
Creating paystubs manually was the default for many years and it remains a viable way to pay employees. The problem with creating paystubs manually, however, is that it requires human effort, and is therefore prone to human error. Inevitably, mathematical miscalculations occur from time to time. The utilization of an online paystub generator eliminates much of the human effort involved in the payroll process.
As such, it also eliminates much of the human error. Because the generator is set up to do the math for you, you run no risk of making miscalculations. The only way you could make an error while using a pay stub generator is by entering the wrong number initially. While this can still happen, it's much less likely to occur than a mathematical miscalculation.
Also read: Required Information On A Pay Stub
Another reason to make check stubs online is that it saves money. Why? Because it allows you to handle payroll without hiring a payroll specialist. Making paystubs manually is a time-consuming endeavor. It's not the type of task that you could just stack onto an existing employee's responsibilities. You would need to hire an employee who dedicates the majority of his or her time to payroll.
However, with online paystubs, such an employee becomes unnecessary since online paystubs can be created much more rapidly than manual paystubs, the responsibility of creating online paystubs can be handed over to an existing employee. You can save an entire year's salary by foregoing the hiring of an additional employee.
Now, this doesn't discount the cost of online paystub generators. After all, using such generators will cost you some money on a monthly basis. However, the amount of money needed to use such a generator won't even come close to what you would have had to pay in order to bring on an additional employee.
Also read: Employee’s Gross Pay
As was just alluded to, using online pay stubs instead of creating paystubs manually will save your company substantial amounts of time. They'll save you so much time, in fact, that you'll be able to handle payroll tasks without the hiring of an additional employee. Why do online paystub generators save so much time? Well, there are a number of reasons.
1. Do all of the bookkeeping for you. You don't have to manually enter numbers into a spreadsheet.
2. Allow for automation. You can use templates on a month-to-month basis.
3. Streamline the delivery process. In other words, they allow you to send numerous pay stubs simultaneously with the click of a single button.
Improves The Experience For The Employee
It's not just the employer that benefits from online paystubs, the employee benefits from them as well. Whereas the access to hard copy paystubs is restricted by; holidays, mail delivery time, and employee availability, whereas the access to online paystubs is rarely ever restricted by anything. This is because online paystubs can be accessed online the moment that they are published.
Your employees will undoubtedly appreciate the ease with which they are able to access their vital financial information. Plus, they won't be forced to cash a check at the bank. Online paystubs will ensure that employees' money is being sent straight to their bank accounts.
Cuts Down On Waste
Hoping to make your business more environmentally friendly? If so, using online paystubs can help you to do so. The fact of the matter is that using online paystubs cuts down on all of the paper waste that would be needed if you were using hard-copy paystubs instead. In other words, by utilizing online pay stubs, you reduce your carbon footprint and lessen your negative impact on the environment.
This is good not only for your conscience but for your company's image as well. Being able to market your company as "green" makes it all the more attractive to customers and clients.
One last benefit of online pay stubs is that they enhance security. Because online paystubs can only be accessed online through password-guarded portals, they are essentially impossible for unwanted individuals to gain access to. This is in direct contrast to hard-copy pay stubs, which can easily be lost, misplaced, or stolen throughout the many points of their existence.
If you want to protect the financial information of both your employees and your company, online paystubs are the way to go. They'll keep data secure and leave no public paper trail.
Create Paystubs Online Now!
What do you think? Looking to create a paystub online? If so, you're in the right place. ThePayStubs is the web's go-to paystub generator, allowing you to create paystubs of all kinds in just a few minutes time. With a number of templates to choose from, we're sure to have something which meets your needs. Let us help you create your paystubs with the paystub generator!