As a self-employed individual, have you ever experienced being turned away by banks and loaners because you could not provide them with proof of income or made mistakes when making your paystubs, causing these entities not to accept them?
Becoming your own boss definitely comes with many advantages as you only answer to yourself. However, it also means you have to do everything yourself, even create your own paystubs. Doing it alone could become exhausting and troublesome if done improperly. It consumes time that could otherwise be spent on other essential things.
If you are self-employed and new to the scene, making self-employed paystubs could become tedious and quite confusing. Any miswritten information or mishandled paper checks could lead to simple or more severe penalties. One wrong document could cascade into more severe problems for your business.
Luckily, for your business, Real Check Stubs’ paystub generator is here to help you towards achieving your goals. First, let us discuss what are self-employment stubs. Then, let us look at the advantages of using the online check stub generator for a self-employed individual.
What Are Self-Employment Pay Stubs?
As a self-employed individual, your payment generally comes in either cash or in the form of a paycheck. Additionally, you would not receive a paystub from your client or customer most of the time. This could become a disadvantage, especially when you need to provide proof of income to acquire bank loans or any type of loan.
A lack of proof could become a burden for a self-employed individual. Your loan details would depend on your income, which the banks would frequently request a breakdown. A paystub would greatly help you in these situations, as they are essential documents to have.
A self-employment paystub is one of the best ways to generate proof of income, especially for freelancers. A paystub acts as your income statement when applying for car loans, house loans, or government subsidies. They provide a summary of the totality of how much you take home.
Using paystubs, car dealers, banks, and other lenders can determine whether you are earning enough as a self-employed individual and whether you are capable of paying them correctly on time. From net pay to gross pay, they would document all details of your income. This could include information on your taxes, benefits, and deductions.
Real Check Stubs is here to save you from the menial task of creating your self-employed paystubs. Here are 5 advantages of using Real Check Stubs to your benefit.
5 Advantages of Self-Employed Paystub
1. Do More With Less
Doing your own business as a self-employed person means budgeting your time, effort, and money into the tasks that matter. As time is a valuable and non-renewable resource, productivity comes down to how fast you could accomplish the same job using a manual system versus a paystub generator.
Real Check Stubs’ generator provides you the chance to save time, effort, and money with automatic calculations and customizable templates. The energy you save by using online makers could go into other more important tasks that could bring in more income. Just set up your paystub once and regularly update and check for correct information, and you are good to go.
2. No Room for Human Error
Manual or handwritten data entries on paystubs are vulnerable to all kinds of mistakes born from human error. A simple slip-up such as a misspelled word or a more severe error such as a wrong data entry could get you and your business in trouble, especially when tax season comes. If you encounter such issues, they would undoubtedly cost you valuable resources such as time and money to correct them.
Fortunately, Real Check Stubs’ paystub generator would help you create flawless self-employed paystubs. After inputting all the necessary data into the check stub generators, it would automatically calculate the amounts sought by lenders, such as tax, benefits, and deductions.
The Real Check Stubs automation process prevents and avoids errors that could have been made when using manual calculations. Check stub makers utilize software that fills out your information on your behalf, provided that you input and save the necessary information when setting up the generator.
Additionally, online paystub makers automatically update their tax data according to the latest state and federal tax and deduction regulations. This assures you that you always follow the requirements set by the IRS without the risk of having the wrong information.
3. Superior Record Keeping
As self-employed individuals who usually do not have someone to help them, keeping complete and accurate records of all your transactions is essential. Instead of scouring through piles of documents and spreadsheets in your computer to find a business dealing or customer payment history, Real Check Stubs’ generator creates easy-to-find and straightforward records of payments and expenses.
Manually writing or typing each paystub is so old school. Consider shifting to using an online check stub generator to create your paystub, and you would thank yourself later.
These online tools would help you make personal files without worrying about stacks of paper or folders taking up physical space in your office or home. Although you would still need to keep electronic copies of your documents, generators would help you reduce tons of data from your computer. Online paystub generators give you the option to save your records in cloud-based storage. This makes it easier to retrieve and even send via email to institutions needing proof of income.
Using Real Check Stubs’ data storage function could also help you keep track of your business’s earnings, taxes, deductions, and net income quickly and conveniently. Additionally, they make month-to-month and year-to-year records simpler and faster to compare.
Paystubs created through check stub generators would greatly help you come tax season. They would also prove helpful in the event of an audit, as you would have no trouble retrieving them.
As part of your documentation process, the paystub generator would be a highly valuable cog in the machine. When applying for a loan on a car or a house, providing proof of income is necessary. Your paystub documents every detail of your income, and having access to them anywhere and anytime could mean a great deal for you and your business.
4. Professional and Customizable
An excellent way for clients, banks, and lenders to recognize your professionalism is by presenting them with a well-made paystub. Real Check Stubs paystub generator could provide you with customizable self-employed paystub templates producing sleek and smart paystubs that communicate the competence and seriousness of your business.
You could also decide which items to include on your paystubs, aside from the required basic legal information. Customizability provides you the freedom to design and layout your check stubs according to your preference.
Although you could choose what you put into your paystub, it is helpful to have essential details such as YTD amounts, hourly rates, hours worked, deductions, and taxes listed. This would give you the opportunity to answer every time a lender or client asks questions, creating an atmosphere of transparency.
5. Easy to Use
Making your paystub from scratch and generating one every time you need to provide proof of income could become tedious and time-consuming, especially when you make them yourself. Fortunately, Real Check Stubs allows you to speed things up with automatic calculations and easy record keeping.
Real Check Stubs’ easy-to-follow process from start to finish produces professionally made paystubs that would save you countless hours of paperwork without needing to hire an accountant or bookkeeper. Set up a paycheck stub template once with the online system, and the rest is history.
Create Your Paystub in 3 Steps
As a self-employed individual, most of the time, you execute every task in your business. From creating your product, rendering a service to doing your administrative work, you should be capable of functioning all by yourself.
Making your paystub using outdated systems makes no sense anymore in the fast-growing business world. Employing an online paystub generator helps you create a smooth process of producing proof of income.
Real Check Stubs’ paystub generator allows you to fast-track administrative tasks, eliminate human error, easily keep records, and create a professionally made proof of income templates. Making and managing your income statements should not be that hard.
Visit the Real Check Stubs website and find out for yourself the power to make the task of creating paystubs as smooth as possible.
Written by Sandra Lewis.