- Keeping track of your employees
Make and keep accurate and complete records for all of their employees (eg. time worked and wages paid). Issue pay slips to each employee.
- Easier Payroll process
Pay your employee(s) (either weekly, bi-weekly, bi-monthly or however). Withhold the proper amount from each paycheck, keep track of the totals either with accounting software or manually. Deposit the total Federal Taxes (Income, Social Security and Medicare) owed monthly to the IRS. If applicaple, deposit income or other State taxes to your State’s taxing authority (this could be bi-weekly, monthly or quarterly).
- Fast and Organized
There are a lot of situations where you would need a quick way to access recent pay stubs (like purchasing a home). We makes that easy!
- Taxes
You’re able to review your tax withholdings anytime to make sure you’re on target for tax year end.
- Managing your money
Life is unpredictable so try to review your budget and your spending if there’s a change, or at least every couple of months.
- Paid Time Off
Employees should keep track of the time they take off throughout the year and check to ensure it matches up with what’s on the pay stub. When paychecks come a two-week cycle after time has been taken off, it can be easy for employees to lose track of their paid time off and think they have more left than they actually do.
- Hours Worked
Even if employees are salaried, it’s still important for them to look at the hours and make sure they’re correct. Hourly employees should track their hours and compare their records with the information on their pay stubs every pay period.
- Taxes and Withholding
Ensuring all the information on each pay stub is accurate is one of the most important reasons employees should check. Making sure their name, Social Security number, pay rates, paid time off balance and other information is all correct will save headaches later.
- Work Reference
To show the number of hours you work per pay period. To show where you work and length of employment (at least for the calendar year).
- Benefits
Easily track important benefits like savings plans for vacation and Christmas. Or, you can quickly see your payments to insurance like health, dental, vision etc.
