Professional tools, such as pay stub generators, always come in handy when the time comes for payroll or taxes. These online creators produce check stubs summarizing almost everything there is to know in an employee's salary from gross to net pay. One such item usually stated and not to be overlooked is overtime pay.
A pay stub generator with an overtime statement allows you to type in known quantities that would calculate the rest. Real Check Stubs provides various advanced stubs with detailed entries that would make your job easier.
Simply fill in all information required for each pay stub and instantly create your own check stubs with overtime. The pay stub calculator with overtime does all the hard work and generates a link to download and print your paycheck stubs.
There are four pay stub templates available with the overtime feature in Real Check Stubs. Each would give you the benefit of making and using easily customizable check stubs.
Read on so you could make check stubs with overtime on your own in no time!
How Check Stubs With Overtime Work
First, let us dig into what overtime is and how to calculate it to give you an understanding of how it works. Yes, the advanced pay stub maker with overtime already does the calculating for you but knowing what the entry is would tell you why it matters.
Overtime Pay For Hourly Employees
If your employee works for more than 40 hours a week, as required by the Fair Labor Standards Act, the additional hours are referred to as overtime. Overtime compensation is rated at a federal minimum of one and a half times more than regular hours and given to hourly employees every pay date.
For example, if an hourly employee works for 46 hours in a week for $12 an hour, your check stub maker with overtime should reflect $18 an hour for 6 hours of overtime. The additional pay should be given on the following pay date.
Overtime Pay for Salaried Employees
For salaried employees, if their weekly income is over a specific amount, they are usually exempt from overtime. However, if they are below the amount specified by federal regulations, they would receive overtime pay computed per hourly basis. You could calculate a salaried employee's hourly rate for overtime by dividing their total hours per week or year by their total pay they should receive for that week or year.
Having an idea of what overtime is, allows you to enter values in the pay stub creator with overtime accurately, leaving no room for error. Regulations for overtime and other labor laws vary depending on which state you are in. They could be more restrictive or exceed those of the federal government, so familiarize yourself with state laws to better grasp what you need to pay.
Paying your employees the right overtime pay would let them know that you value their time and effort. It would also give them the confidence to work diligently and honestly.
Pay Stub With Overtime Templates
There are four pay stub templates with overtime features in Real Check Stubs' broad array of template options.
Advanced Pay Stub Template 1
The first advanced pay stub creator with an overtime template summarizes all necessary information needed to produce an effective check stub.
The heading includes your company name, company address, pay period, pay date, employee details such as their name, address, identification number, and social security number.
The lower half of the check stub generator with overtime is divided into columns, with the first part containing the breakdown for your employee's gross pay. The first column in the category describes each item, such as regular, overtime, holiday, vacation, bonus, and commission. Next, the second column provides the exact hourly rate for each item, the total hours your employees worked, and the total amount per item in the pay period.
The second half of the lower part includes deductions and taxes subtracted from the gross income to get the employee's net income. The pay stub generator with overtime also includes year-to-date (YTD) details for all items.
Advanced Pay Stub Template 2
The second advanced pay stub maker with an overtime template resembles the first template with the heading containing the information for both employer and employee. The second half also contains the same information. However, the columns are divided by thick lines, making the columns more prominent and more comfortable to follow.
Advanced Pay Stub Template 3
The advanced pay stub template 3 for the check stub maker with overtime now includes a bar code at the top left and a new format.
The pay stub is divided into two vertical halves. The first half contains all details about the gross and net pay, such as regular and overtime hourly rates, federal and state taxes, and other deductibles applicable or required by law.
The second half includes the pay period, pay date, employer's notes, and the total year-to-date (YTD) amounts itemized in a table.
Advanced Pay Stub Template 4
The last template to make check stubs with overtime uses a smaller format, requiring less paper for printing. It gives out all employer and employee details in boxes in the top half while itemizing the amounts, such as regular pay, overtime pay, social security tax, and medicare, needed to calculate workers' gross and net incomes.
Real Check Stubs' pay stub generator with an overtime feature allows you to create effective payslips that provide your employees with the proper breakdown of their income. Paying the correct compensation for overtime would earn you your workers' trust and give them the confidence to work. Using an advanced check stub maker with overtime templates would make paying salaried and hourly employees as easy as it could get.