When self-employed, how do you keep track of your pay? Do you create paystubs for yourself? Do you just track it in a book and do your taxes once a year?
There are simple systems to keep a record of your pay when you are self-employed or paid from multiple companies or for multiple services. Generating pay stubs for yourself can help you keep track of what income you have received, and keeping this digitally means no extra paper to keep track of.
If you have a small business and have a few employees, not needing to hire someone else to keep track of payments can help keep your costs down. Not only keeping costs down but allowing you to be hands-on with your employees, keeping track of your business.
Self-employed
When you work for yourself, it is still important that you get a pay stub. This is useful for tracking your income. Whether from pay for services or what you take as payment for your work from your company account. Keeping track of this, as well as how much you have paid in taxes, is very important legally.
Keeping track of all of this information and having it all in one document for easy access will allow you to show proof when needed. If you want to buy a house, as a self-employed person, being able to show paychecks will help show a regular income. Helping you secure the loan or mortgage you are looking for.
Self-employed business owner
If you are self-employed but own a small business, you will probably already make check stubs for yourself and your employees.
Being able to keep track of how much your employees earn. How much tax they pay and holiday hours owed can not only help your employees keep track of all they earn and any overtime. But it also helps you keep track of how much people are being paid, how many hours they have worked, and any other information that is important to their employment.
Accountant?
Just because you need paystubs, that does not mean that you need an accountant. You can use a checkstub creator to make your pay stubs. Giving you the freedom and flexibility to fit this into your busy schedule.
Having an accountant just for paystubs can seem like a lot. Accountants can be helpful and essential in some cases if you have multiple businesses or you need someone to help keep track of your business accounts.
However, being able to make your paystubs with a checkstub creator can be just as easy when you only have a few employees, and so you can keep track of your business unaided.
Summary
Whether you are paid externally for services you provide or you run a small business and pay your employees. Cutting out the middleman and staying hands-on with your company by generating your pay stubs can be a benefit to you. Getting paystubs that are completely legally generated for you could not be easier.