Additional earnings refer to money that's earned in addition from the regular income. While creating an employee or contractor pay stub, you have to add additional earnings of the employee (if applicable) for accurate tax calculations.
These are some of the standard additional earnings which an employee can earn.
- Overtime Hourly
- Vacation Pay
- Sick Pay
With SecurePayStubs, you can add any of these earnings plus custom earnings to pay stubs easily.
While creating a pay stub, you may want to add deductions applicable for accurate tax calculations.
There are some standard deductions made from an employee’s pay. Below mentioned are the pay stub deduction codes for the deductions made.
- 401(k) - An employer-offered retirement savings and investment plan.
- INS (Insurance) - Deductions made from employee's pay for coverage of Health, Dental, and Vision insurance.
- FSA (Flexible Spending Account) - An employer-sponsored savings account generally used by employees for healthcare expenses.
- HSA (Health Savings Account) - Contributions made in HSA can be saved aside and withdrawn later for healthcare expenses. There are HSA made available for both Individuals and Families.
- Simple IRA (Savings Incentive Match Plan for Employees) - An employer-provided retirement plan for employees.
SecurePayStubs allows you to add any of these deductions in addition to regular tax deductions.
Why create paystubs with SecurePayStubs?
SecurePayStubs makes it easy for small business owners, self-employed individuals, and independent contractors to generate paystubs online.
SecurePayStubs simplifies the pay stub generation process by calculating federal and state taxes applicable to employees accurately and makes sure pay stubs are generated error-free!Create Paystubs Now
Want to create paystubs with multiple earnings and deductions?
Get started with SecurePayStubs and accurately generate pay stubs in 3 simple steps.
Frequently asked questions
How do I add the overtime wages and deductions in my employee’s pay stub?
In the Salary Information step, under Earnings, click on Add earning and choose the earnings to be added to the pay stub. Also, enter the amount and Year-to-date (YTD) for the earning.
he same goes for adding deductions. Under Salary Information >> Deductions, click on Add deduction and choose the deductions to be added to the pay stub, and enter the amount and Year-to-date (YTD) for the deduction.
What does YTD mean?
YTD means the year-to-date amount. It is the sum of the amount for the time between the beginning of the current year and the current date.