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Payslip generator for small businesses

payslip generator

Calculating payslips is never fun to do for business owners. Between all the state and federal taxes you need to pay - both for your employee and your business- there’s a lot of room for mistakes. It is a critical task  and any error can result to costly penalties.

But it is not only an issue of miscalculations. Underpaid tax can equate to fines, late payment penalties and interest. Using incorrect rates, sending forms to the wrong agency, or simply filling out forms incorrectly.

This is why we recommend small businesses to use online payslip generators like makepayslip.co.uk. Our free payslip calculator makes it easy to calculate payslips for both hourly and salary employees. And it’s a lot cheaper than hiring an outside payroll company or accountant.

All you need to do is enter your employee’s pay information and we automatically calculate taxes, fills out forms and sends you a pdf copy of the payslip. We crunch the numbers to give you a rundown of exactly how much to pay your employees and how much to deduct for taxes. We make sure that your calculations are accurate by always using the most up-to-date tax table.

With Makepayslip.co.uk , you can ditch the complicated calculations and spend more time working on your business.

Proof of employment to acquire visa or credit card

proof of employmentIf you plan to apply for a credit card or get a visa to travel abroad, you'll probably be asked to provide a proof of your employment. And in some cases, the immigration even still ask for a proof of employment or income for some countries that don't require you a visa.

The expectation

Now, it would be logical to assume all you need is to prove that you have enough money right? But some will require more than that. Banks and Embassy will most likely to ask for your latest 3 months payslip. Your payslip gives them a clear picture that you are employed and how much you get paid every month — no matter how much money you came by.

payslipThe problem

But proving your employment is always going to be difficult if you are an online freelancer or working part-time and get paid in cash-in-hand arrangement. But Banks or Embassy do not favor individual with cash-in-hand arrangements. Their rationale is that if you do that in your own country then you will do it in another country and thus breach the terms and conditions of your stay. They also believe that an employee who has a cash-in-hand arrangement is not employed in a way that is considered permanent or stable. It is also conceivable that you never worked there at all and obtained your confirmation letter fraudulently. While it may be unpleasant to think about these sorts of things, there is very little to prevent them from making that conclusion and they are paid to think of those possibilities.

The solution

The good thing is there are some companies like makepayslip.co.uk that specializes in providing online payslips to self-employed, freelancers, small to medium companies and private individuals. 

We understand that you must be transparent and honest in your application. Any deviations can be a potent reason of your application getting rejected. Thus, we want you to know that makepayslip.co.uk is SSL certified. And you can get any types of payslips from Standard Payslips to Detailed Paystubs to Modern Style Paystub.

Proof of income for self-employed

proof of income for self-employed

If you are self-employed or working for your family, it is typical to not receive any payslips. But what if you need to get a loan from the bank, or buy a new car or house, or even just rent an apartment? You will need to provide proof of income for approval.

Most banks ask for payslip as proof of income as a way to verify the borrower's ability to repay their debt and to demonstrate that he/she have a steady job and solid source of income. Anyone who cannot provide a payslip are seen as a higher risk.

The following are some of the reasons why banks see payslip as a vital document :

  • Payslips are the most reliable way of verifying someone's income.
  • It shows your Year To Date (YTD) income to calculate if your current inncome has been consistent throughout the financial year.
  • It shows expenses such as tax and any debts your are paying direct from your pay such as salary packaging expenses.
  • The bank can see whether you are employed as a permanent or casual employee.

Makepasylip.co.uk provide advanced and detailed payslips for you that meet specific requirements from the banks.

The following are the standard requirements:

  1. It must be dated less than four weeks from the date of application. Old payslips may not be accepted.
  2. It should include the employee's name, year to date income, pay period details and the employer's ABN/ACN number.
  3. It must be computer generated using an accounting system. handwritten pay advices or pay envelopes are not accepted on their own.

proof of income

Why choose online payslip

Online payslip

If you are a business owner, you know your obligation to provide payslip to your employees- even if it is only one staff member. Failing to do so will get you in hot waters with the government, not to mention your employees.

We know that making payslip is a tedious task that has to be done according to the books. It is an added workload to the owner unless you employ an accountant. But since you’re only a start-up company with one or two employees, you don’t feel the need to hire one, or can’t afford it. Luckily for them, there are companies who provide online payslips for prices lower than what you would have to pay for an accountant. 

Payslips can be used for multiple purposes:

  1. It acts as proof of your earnings, tax paid and any pension contributions.
  2. It validates that you are working in a respectable company and have a standard income.
  3. Payslip contains your legal informations which act as evidence of your authenticity if you ever need financial help in the bank.
  4. If you are seeking for a new job, wants to acquire a car or property, then you definitely need payslip.

Basically, Payslip is a proof of your financial stability. Needless to say, losing it will cause you a lot of troubles.  Once lost, employers cannot reproduce it again.

That's why most companies- and employees prefer online payslips.  This way it will be easier for them to file, copy or keep track of their payslips. Aside from the fact that it can be easily  generated anywhere and anytime at their convenience since it it online.online payslip

 

Makepayslip.co.uk is a company that offers different type of payslips. From Standard Payslips (A1, A2, and A3) to Modern Style Paystubs complete with your company logo.

 

The computations, printing (and even producing of duplicates for lost payslips) are done on the basis of necessary informations you fill up on the payslip you purchased.

Now we understand that most of you are hesitant to use online payslips as you will be giving away important informations of your company and employees. That is why makepayslip.co.uk takes pride on being SSL certified. SSL stands for Secure Sockets Layer, it is another layer of security given to verified online websites to protect their consumers. It simply means that we are legit and that the payslips we produce are authentic.