The Best Paystubs

What is paystub?

A paystub is a document issued by an employer to an employee that reports the employee's earnings, taxes, contributions, and deductions and net pay. It can also be referred to by other names as a check stub, pay slip, or paystub. Generally, any document that is attached or provided with the pay check is considered a paystub.

What information is included on a paystub?

The paystub will list out the gross earnings less deductions such as taxes, retirement, health savings, and net pay. This is generally provided for both the current period and year-to-date (YTD).

What is Net Pay?

Net pay is generally the amount the employee will receive after taxes and deductions have been subtracted from gross pay.

What does YTD mean on the paystub?

Year-to-date or YTD is means the cumulative amount from January 1 to the current date or pay period. Generally, individual persons are taxed on earnings throughout the calendar year (Jan 1 - Dec 31). Therefore, amounts must be tracked cumulatively from Jan 1.

What does gross pay mean on a paystub?

Gross pay is earnings before deductions and taxes. For example, if you earn $50 per hour and work 40 hours, your gross pay is $2,000.

Is paystub the same as paycheck?

These are two separate items related to payroll. Paycheck is the physical check or direct deposit that documents the transfer of funds to the employee. paystub is the detailed statement that accompanies the paycheck to demonstrate the earnings and deductions of the employee. Think of paystub as an "invoice" relating to the employee's work for the period and the paycheck as the "receipt" for payment.

What is the difference between gross and net pay?

Net pay is the amount the employee "takes home" or receives after all deductions and taxes have been removed. Gross pay is earnings before taxes and deductions. The employee earns their gross pay (hourly or salary) and then the employer is required by law to deduct taxes and other items, tendering the net pay to their employee.

What is a paystub? What details does my paystub contain?

A paystub is a statement from employer to employee, which is intended to enable the employee to understand and trace how their gross pay and net pay are calculated in a given pay period. The paystub will show the granular detail of how gross pay is calculated, what types of taxes are deducted, and other benefits that are accrued.