Payroll management using simple spreadsheets is a hectic and time-consuming process. The online payroll templates offer a time-efficient, professional, and proficient method of creating and sending payrolls. We offer an extensive collection of online payroll templates ranging from simple to complex layouts. Here we have discussed a step-by-step procedure explaining how to use a payroll template.
What Is a Payroll Template
A payroll template is a pre-designed layout containing multiple rows and columns to systematically enter, organize, calculate, and keep track of the employee’s payroll details.
Using a premade payroll template designed per the rules and regulations of the American Payroll Association compared is highly beneficial to use a simple spreadsheet.
How to Use a Payroll Template
Choosing the Best Payroll Template
First, you must select a payroll template. We offer a wide range of paystub templates varying based on the layout, available fields, size, and color.
The best payroll template for your business is the one that has your required tax deductions and salary fields. Our payroll templates also allow you to choose the preferred size, change the background color, and add a deposit slip.
Editing the Payroll Template
After choosing the template, you have access to start editing the payroll template. Editing the template is quick, and hassle-free regardless of the complexity of the chosen payroll checklist template. Some templates, such as Modern 2, and Advanced 5, allow you to change the background.
- You can choose the number of pay stubs you want from 1 to 12.
- Then select the payment schedule based on your business's payment frequency. This field offers you multiple options including weekly, biweekly, semimonthly, monthly, and annually. The most common choice is a monthly payment payroll template.
- Next, come choosing the American state you live in. The type and number of income taxes, tax withholdings, and tax rates vary from state to state. Thus, ensuring the selection of the correct state before finalizing the employee payroll template editing.
- All our templates are pre-programmed to automatically calculate the employee’s taxes based on the given salary information and the business’s state.
- Then you can start adding the employee’s and company’s information. This information includes adding the company's and employee’s name and address. Based on the template you chose, you can add additional employee information, for instance, marital tax information, employee ID, and detailed address.
- Next, type the gross pay, net pay, salary report, pay period (start date, end date, payment date, date rolling), hours worked, vacations, bonus, and other additional information on the pay stub.
- You can preview the final edited payroll checklist template. Go through the whole document twice, ensuring you have put the correct information in every space.
- And there you have it. The payroll is ready to send to the employees.
Why Use a Payroll Template
Payroll templates make the payment process quick, proficient, and hassle-free. The following are the most feasible uses of online payroll templates.
- The payroll template helps record accurate and error-free data.
- The employee payroll template keeps a record of the employee’s hours worked, payment schedule, payroll tax, and absentees.
- Online payroll templates also serve as financial documents to apply for medical insurance, loans, and other financial products.
- Online payroll templates are easy-to-use, and no prior training is required. Thus your HR team can fill and manage these templates. This feature cuts the cost of outsourcing employees for payroll management. Also,
Benefits of Using a Payroll Template
- An online payroll template makes your business look professional, up-to-date, and modern.
- You can set the payment schedule on the online payroll templates. This feature ensures timely payment to your employees.
- Online payroll templates automatically calculate federal taxes based on the American state. This feature saves you from making mistakes and avoiding fines.
- The payroll checklist template also serves as the employee’s financial record. You can check the employee’s progress during the payment from this template at a single glance.
Online Stub Generator vs. Pay Stub Template Excel
Previously, most businesses used the pay stub Excel template to create employees’ payrolls. However, the introduction of online pay stub generators has offered an excellent and efficient way to create professional-looking pay stubs. Online pay stub generators are less time-consuming, easier to use, and can help you save money. Also, the online pay stub templates are pre-programmed to calculate the federal and state-specific taxes based on the employee’s salary information.
Automotive tax calculation saves employers from paying fines and facing government sanctions. Contrarily, there are significant chances of making mathematical errors when manually calculating tax rates.
Many businesses pay fines for rectifying mistakes made while filing taxes. The main reason for these errors is often the use of an Excel pay stub template. Therefore, it is highly beneficial to use an online pay stub generator rather than the pay stub template in Excel. Also, there is no need to worry over “how to use payroll software,” as you only need to choose the template, edit it per your data, and then download it to send to the employees.
Check out the online stub generator vs. pay stub template excel to learn more about the difference between the two methods and the significance of using an online payroll template.
Create A Paycheck Stub With Our Free Templates
You can create pay stubs using our freely available payroll templates. Here are a few examples of our most popular paycheck stub templates.
Modern Template 2
This template is simple and easy to use and is available in horizontal format. You can add employee information and payment records in detail in this template.
Classic Template 3
Classic template 3 is one of the most popular payroll templates. In addition to entering the employee’s and company’s basic information, you can add gross earnings and various taxes to this template.
Advanced Template 2
This template has a longitudinal layout and multiple columns to add information. You can add detailed payment information to this template.
Is there a payroll template in excel?
We provide online payroll templates that allow you to edit and download the saved version directly to your device. These online pay stubs are different from the payroll templates in Excel.
How do I create a payroll template?
You can create a payroll template using our payroll generator. Check out our wide range of online pay stub templates here.
How to create payroll in excel?
Creating a payroll is doable but a time-consuming and challenging process. First, you will need to open the Excel sheet. Then create a header and put the title of the payroll template, for instance, the earning statement of the payroll calculator.
Next, create a subheader below the header and add the employee’s basic information. Then you can add as many columns as required based on the information you need to put in the payroll. You will need to enter and calculate the tax deductions yourself.
And finally, save the payroll and either print it or send it via email. Check out this video guide to learn the procedure in detail. Indeed, creating payroll in Excel requires time and effort. Therefore, it is best to avail of the services of an online pay stub generator.
How do you do payroll in Google Sheets?
You can make payroll in Google Sheets using the Google Sheets template. First, get this template and make a copy of it. Then edit this copy by adding the employee’s salary and tax information. You will need to download the HR app to make an add-on section.
How do you create a paycheck with a pay stub generator?
Check out how to fill out an employee check stub using a pay stub generator to learn the complete procedure of creating a paycheck with a pay stub generator.