Replacement Wage Slips Key Terms
Discover the convenience of replacement wage slips and learn more about electronic pay stubs
People may need to show a pay stub when they apply for loans, but coming up with a lost pay stub was once an a big problem for an employee at a company. Now, a replacement wage slip acts as a convenient alternative to a misplaced original pay stub. Today, there are various solutions to the problem of a lost wage slip, such as the electronic pay stub, replacement W-2s or P60s and self-service payroll software.
Electronic pay stub
An electronic pay stub, also called an online pay stub or a paperless pay stub, is a record of the same pertinent information found on a traditional pay stub, but is stored electronically instead of printed on paper for an employee.
Self-service human resources
Many human resources departments are trying to save time and money by using self-service human resources. Employees can log on to the system and check their important data, including the retrieval of lost wage slips.
Payroll accounting software is used by companies to manage employee time sheets, calculate the amount of money that they should receive and even print out the checks. If an employee needs a replacement wage slip, human resources should be able to print a new one out using the software.
Check stub template
When an employee needs a replacement wage slip, human resources or your payroll services provider may choose to use a check stub template to create a new one. They simply have to fill in the employee's data.
Replacement P60s or W-2s
The certificate referred to as the P60 (in the U.K.) and W-2 (in the U.S.) contains the total amount of pay earned by an employee along with deductions. This document is given to a worker by his or her employer at the end of that particular tax year.
Paper pay stub
A paper pay stub is a printed document including important pay stub information that is usually sent to an employee by his or her employer via the traditional mail system or simply given to the person at work.
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