The Best Online Pay Stub Generator for Independent Contractors
Are you struggling with creating professional-looking pay stubs? As an independent contractor, keeping track of your income and expenses is important. One of the ways to do this is by creating pay stubs for every payment you receive. Skip the time-consuming process and hassle of manually creating one by using a pay stub maker tool.
What Are Independent Contractors?
Professionals who are in an independent trade, business, or profession in which they offer services to the general public are generally considered independent contractors. However, the nature of their employment must be wherein the payer has the right to control or direct only the result of the work and not what should be done or how it will be done.
As an independent contractor, there may be instances wherein you might have to present a proof of income to an entity, whether it’s for filing your taxes or a new employment. One of the proofs of income you can present to an institution can be a pay stub.
But what is a paystub for independent contractors?
Pay Stubs for Independent Contractors
Pay stubs, in general, are an itemized record of your salary details. Not all states will require employers to provide pay stubs. Hence, as an independent contractor, there will be times where you have to create pay stubs on your own. Depending on the state that you are in, pay stubs have requirements as to what information must be provided. Under the Fair Labor Standards Act, the US Department of Labor has established recordkeeping outlines on what should be on the paystub.
What Should Be on an Independent Contractor’s Pay Stub?
- Employee’s name and identification number
- Company name and address
- Pay period (start and end dates)
- Gross pay (total earnings before deductions)
- Deductions: federal income tax, state tax, Social Security, Medicare, insurance, 401(k) contributions, etc.
- Net pay (total earnings after deductions)
- Year-to-date (YTD) gross pay and deductions
- Payment method (direct deposit, paper check, etc.)
- Date of issue
What Is an Independent Contractor Paystub Generator?
A pay stub generator is an online tool you can use to instantly create your proof of income statements. It has all the features built-in to help you create accurate and professional-looking pay stubs. Whether you need to submit a proof of income or for record-keeping, independent contractors can definitely benefit from using check stub generators.
It can save you time and effort, especially if you’re not familiar with the payroll process. An online paystub creator helps you comply with requirements and limit errors in your salary details.
Benefits of Paystub Generator for Independent Contractors
1. Little to No Errors
If you choose a feature-rich paystub generator, you can make your paystub in no time. A good paystub generator typically has all the functionalities you need to create accurate paystubs instantly. This includes an easy to use design and an automatic calculator.
2. Fast & Convenient
Since most if not all paystub generators are designed to be user-friendly, even for those who don’t know the payroll process, anyone can make paystubs in a matter of minutes. A good paystub generator does not take you an hour or two to get the calculations right or design a template. It should allow you to generate your stub in 5 minutes or less.
3. Accessible
Most paystub generators are accessible on any device and anywhere around the world. Being an independent contractor, your work may require you to travel around, even outside the country. That’s why choosing an independent contractor paystub generator to create your proof of income can come in handy.
4. Cost-Efficient
Being responsible for your own business expenses, you might not want to spend a lot on creating a proof of income document. Usually, paystub generators are a cost-efficient way to create paystubs for independent contractors. It allows you to get a paystub without the website’s watermark for as low as $7.95.
Features of Online Pay Stub Creator
1. User-Friendly
You don’t need any special skills in payroll to use a pay stub generator. It’s easy to use for just about anybody. Generally, all you have to do is fill out the form and our app will handle the rest.
2. Built-In Calculator
Companies that create paystub generators have tapped into the expertise of payroll professionals to ensure our tool can come up with accurate calculations for your gross income and net pay. It also has the latest data in every state’s individual income tax rates. With this, you can guarantee that it will provide accurate results on your stub automatically.
4. Professional Designs
With a paystub generator, you don’t have to worry about having to design your paystub to look professional. Generators already have a selection of templates built-in, so you just have to choose which one you prefer.
5. Secure
Since data you provide on these websites are sensitive, a good check stub generator for independent contractors should have extra protection for user data. Make sure to check the website for their privacy policy and data policies to see if their website is highly secure.
6. Print or Email
Most paystub generators allow you to print or email your check stubs without a watermark at an affordable price. That way, you instantly have a copy of your stub or email the stub immediately to the requesting party.
How to Use Online Pay Stub Creator for Independent Contractors
1. Input Your Information
Input your basic information (Name, SSN number, Place of Residence) and salary details (rate per hour, pay period) on the template.
2. Select Your Preferred Template
Choose from a selection of paystub designs, so you can have a professional-looking check stub.
3. Generate Your Pay Stub
Once you’ve double checked your pay stub and made sure that the information you’ve input is correct, generate the check stub.
4. Print or Email Your Check Stub
After generating your pay stub, you can have printed or emailed once you avail of a pricing plans.
Tips for Creating Accurate and Professional Independent Contractor Pay Stubs
1. Double Check the Information Before Generating the Stub
After typing in the information on the empty fields, make sure that all the information you’ve input is correct. Check your name, SSIN, Company Name, Rate per Hour, and the likes.
2. Watch Out for Errors Before Printing or Emailing
Once you’ve finished generating your proof of income document, make sure that you go over the information one last time. Check if the information you’re sending is correct, so you don’t have to pay for any costly penalties and the likes.
3. Choose the Pay Stub Generator That Works For You
A paystub generator that has all the functions you need to make a paystub right away can not only help you save a lot of time, but it also helps you minimize mistakes. Find a user-friendly app that works for you, and you’ll have a trusty paystub tool that will help you as many proofs of income for yourself in the long run.
Instantly Create Pay Stubs for Independent Contractors
Being an independent contractor, you might not regularly get pay stubs the way a regular employee would have. However, you can create pay stubs for finance tracking purposes easily with our pay stub generator for independent contractors. This app makes it easier for you to create a pay stub, even if you don’t have any technical skill in payroll. Make a pay stub in minutes with our pay stub generator today.
Get unlimited free previews and HUGE DISCOUNTS when you want to print your pay stubs in bulk!
Our Pay Stubs Are FLSA Compliant & Compliant with State Pay Stub Laws
Our team of accounting professionals and web developers have worked together to make sure that our pay stubs and other forms are compliant with the Fair Standard Labor Act requirements with regards to pay stub information. At the same time, we’ve cross checked the pay stub laws in different states that have pay stub requirements and have made sure that our stubs are compliant. If you’re an independent contractor, your best bet for a pay stub will definitely be from Payroll Paystub.
People Also Ask About Independent Contractors Pay Stub Generator
Independent contractors or freelancers can definitely create their own pay stubs for tracking their income and taxes. It can also be used as proof of income along with legitimate bank statements as a requirement for any institution. You can create your pay stub by using an online pay stub generator. The best pay stub generators for independent contractors are Payroll Paystub, Paystub Direct, and PayCheck Stub Online.
You can easily create a pay stub for your independent contractor using a payroll software or an online pay stub generator. If you’re handling a large scale group of contractors for a long period, then using payroll software would be a good investment. However, if you’re only handling 1-5 contractors, you can go for a more cost-efficient software, like an online pay stub generator. It’s easy to use and can help you create pay stubs in minutes.
As self-employed professionals or independent contractors don’t get a paycheck, depending on which state they’re from, they can create their own pay stubs using a pay stub generator. There are many online pay stub apps online. However, you can the best pay stub generator at Payroll Paystub.