Easy Steps to Going Paperless with your Paystubs
Keeping your paper paystubs organized isn’t easy. The small pieces of paper get mixed in with your documents, and you can’t find the paystubs when you need them. The paystubs also add unnecessary clutter and can take up valuable office space. It’s even worse for businesses generating multiple paychecks.
The best solution is switching to paperless paystubs, but how do you get started? Here are some easy steps, so you can get rid of the paper.
What is a Paystub?
Chances are you’ve received paper checks during your working career. Attached to the check is a piece of paper detailing your pay. It includes information about taxes paid, pay rates, and how much income the employee has earned throughout the year.
Paystubs are helpful when it’s time to do your taxes. It shows proof of income and can substitute for a W-2 form, but it’s not the only reason you want to keep your paystubs organized and easy to access. Here are a few other reasons.
Personal, Auto, or Home Loan
Whether you go to a traditional financial institution, online, or a paycheck loan outfit, you will need to provide proof of income. You cannot get loan approval unless you can prove you are financially able to keep up with the weekly or monthly payments.
Some places only ask for a week or two worth of paystubs, while others may want a couple of months. Having your paystubs digitally saved, organized, and stored in an online folder makes it easy to access the information as necessary.
Renting a Home or Apartment
Before most landlords will rent a property, they want to see proof of income. Most will want proof of income going back several months. It reassures them you can pay the rent on time. Having your paystubs saved to the cloud allows you to easily pull up the information as you are applying for the lease.
You can even choose to send copies of your paystubs directly to the rental office, potentially speeding up approval times.
Why Going Paperless Makes Sense
You already know switching to paperless paystubs makes organizing them a breeze. You always know where your paystubs are, and it also gets rid of some of your office clutter.
Businesses can easily calculate employee wages and instantly deliver a paperless paystub. Here are a few additional reasons why it makes sense to go paperless.
Digital paystubs are eco-friendly. You are eliminating excess paper that often ends up in a landfill. The ink used to print the paystubs may contain chemicals that prevent the paper from going to a recycling facility.
Digitally generating and storing your paystubs also eliminates the need for a printer and ink.
Improved Privacy and Security
Unlike paper paystubs, digital ones are secure, and password protected. You don’t have to worry about someone stealing your personal information. Businesses will also find it easier to meet security requirements regarding how they protect their employees’ data.
How to Go Paperless with Your Paystubs
Going to paperless paystubs is a simple process, and you have a few options to choose from. Each method has its advantages, making it easy to find one that works for you.
Google Drive is a free tool, just download the app if it’s not previously installed on your laptop or tablet. From the password-protected site, you can save and store your paperless paystubs, accessing them from any connected device.
The tool also lets you share documents online with others. You can create groups or share the information with a single person. Along with accessing the paystubs through Google Drive, you can also view, edit, and share the folder in Google Docs.
Electronic Signature Tools
Creating digital paystubs often requires a signature, and you can find several helpful and free tools. You can sign paystubs and other financial documents from any compatible connected device. The platform works with most laptops, phones, and tablets. Best of all, the tool is a breeze to use.
These platforms often come with several tools, some are free, and others come with a fee. The electronic signature function lets you sign and send digital pay stubs and other documents. You can also generate, review, and approve agreements, streamlining the payment process.
The electronic signature is legally binding. It functions the same as an ink and paper signature. Using an electronic tool also boosts security. You can send the pay stub via the platform by-passing the risk of an email being intercepted or viewed by an unauthorized third party. The platform also notifies you if someone tries to access your folder without permission.
Online Paperless Paystub Generators
One of the fastest and easiest ways to go paperless is with an online paystub generator. Whether you have one or multiple employees, the platform makes it easy to calculate, create, send, and store digital paystubs.
Before you sign up for an online service, you want to look for a few things. Choosing a subscription-free service makes sense for most companies and individuals. You are not locked into a contract, making it easy to use the program as needed.
You can stop at any time, and you don’t have to worry about hidden subscription fees. It’s also nice if it doesn’t come with any software to download.
How the services work is simple. You fill out the same employer and employee information for an electronic paystub as a paper one. There are also fields for pay period and salary. The platform automatically takes care of the calculations and within seconds the paystub is ready to download.
Employees can save, store, and print their pay stubs from the secure platform.
Go Paperless with PayStubCreator
Paperless paystubs make sense for a variety of reasons that include convenience and improved security. It also makes it easier to find your paystubs as needed.
PayStubCreator is an online pay stub generator that’s easy to use. Just fill in the fields, submit the information, download the paystub, and print. There’s no software to download, and fees are based on the number of paystubs you generate, giving you complete control.
Contact us today and see how we can help your paystubs go paperless.