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A salary statement, commonly called a payslip, pay stub, paystub, pay advice, or sometimes paycheck stub or wage slip, is a document received by an employee that either includes a notice that the direct deposit transaction has gone through or that is attached to the paycheck.
Payroll. Handling payroll typically involves sending out payslips to employees. A payroll is a list of employees of a company who are entitled to receive compensation as well as other work benefits, as well as the amounts that each should obtain. [1]
This page provides a general guide for dealing with stubs: the first section, Basic information, contains information that is recommended for most users; and the second section, Creating stub types, contains more specialized material.
A pay stub contains all your income information, so it’s a great tool for tracking your salary, the taxes you’ve paid, insurance premium amounts, bonus information and vacation and overtime pay.
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Withheld income taxes are treated by employees as a payment on account of tax due for the year, which is determined on the annual income tax return filed after the end of the year (federal Form 1040 series, and appropriate state forms). Withholdings in excess of tax so determined are refunded.
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