|Check Stub for Excel||Check Stub for Word||Blank Check Stub|
Check Stub Template: What Needs to Be Included
Last Update : 9 December, 2013
Are you looking for an affordable way to meet your legal obligation of issuing check stubs each time you pay your employees? Have you given any thought to creating your own check stub template using Microsoft Excel—a spreadsheet program that comes standard with most versions of Microsoft Office? Excel is the ideal program for creating free check stub templates, and you may be pleasantly surprised by just how easy it is to create an Excel check stub template on your own from your home or office. In the following article we will provide step-by-step instructions on how to turn a blank check stub template in Excel into a tool you can use each pay period for constructing professional-looking check stubs for each of your company’s employees.
Finding a Sample Check Stub Template
Before we explain how to create your own Excel check stub template, you may want to take some time to search the Internet for a check stub template that was also made using the Excel program. The reason this is such an important step is it gives you the opportunity to look at different formats and styles. There are a number of ways to create free check stub templates using Excel, including a number of different layouts and fonts, and once you find a template you’d like to emulate it will usually make it easier to create your own.
Creating an Excel Check Stub Template
When using Excel to create a check stub template it’s important that you first become familiar with the functionality of these spreadsheets/worksheets.
Upon opening the program you will see several columns and rows. Each of the columns are labeled with a letter (A, B, C, etc.) and the rows are represented by numbers (1, 2, 3 etc.). You will also notice that the sheet is made up of several small boxes, which are called cells, and it is within these cells that you will transform a blank check stub template into a multi-functional Excel check stub template.
Within each cell of the Excel worksheet you can enter text, numbers, or a formula, and as you will see below all of these will be used when creating your sample check stub template.
• Employer Information. The employer information—company name, address, city, state, zip code, telephone number and email address—is written using both text and numbers somewhere near the top portion of the check stub template. This type of information is referred to as “static” information, because it will never change, regardless of which employee’s check stub you are creating.
• Employee Details. The blank check stub template you’re working with needs to include changeable fields or cells for entering each employee’s details. This information is also created using text and numbers and should include, at minimum, space for the employee’s full name, address and social security number. Once you print and save each one of your employees’ check stubs, you can then erase this printed information in preparation for the next pay period.
• Income. Aside from the employee’s hourly rate and number of hours worked, which are strictly a numerical field and remain static until that hourly rate changes, the remainder of the income fields will be written as a formula. These fields, along with the formula you will need to create, include: Gross pay (Number of hours worked x Hourly Rate); Net pay (Gross pay – all the required deductions—deductions that will be explained below); Year-to-date gross/net pay (Gross/Net pay + all previous Net/Gross pay in the same calendar year). Note: If an employee works overtime you will also have to include those numbers separately, written as a formula of hours worked x the overtime pay rate.
• Deductions. Any free check stub templates, including the sample check stub template you are creating, must include several deduction fields, all of which will be written as formulas. This will require you to do some research regarding the various percentages for each deduction item so you can correctly create the formulas for these cells. A crude example of how the deduction items will be written on your blank check stub template is as follows: Federal/State/Local Income Tax (Gross pay x the percentage of income tax to be withheld in each category); Retirement Accounts (Gross pay – the dollar amount the employee elects to have deducted for each of these accounts per pay period); Insurance (Gross pay – the cost of the premium for that particular pay period.
There are a few other deduction items that will also need to be included, but this should give you a fairly good idea regarding the general format.
Using Excel to create free check stub templates may initially take some time as you research and program the various percentages and formulas into the spreadsheet, but once finished it can be used time and time again to create legible and professional check stubs with little to no cost to your company or organization.