The payroll receipt certifies the payment of fees to a worker.
A payroll receipt is a document provided by an employer as proof that it has paid the payroll for an employee . For this receipt to be valid, the worker must sign the receipt, which certifies that the payment has actually been made.
It should be noted that the document that is completed when a person obtains a payment in exchange for a certain activity performed is known as a receipt . Payroll , on the other hand, can be a list of names or the salaries that an individual receives for their work.
Characteristics of a payroll receipt
The idea of a payroll receipt is similar to the concept of a fee receipt . The name of the contracting company with its tax data (company name, address, etc.), the name of the worker , the money given as salary and the date are some of the information that is usually included.
In some countries, paystubs are digital . This facilitates fiscal control by the authorities, since the worker's salary data is automatically recorded in a system .
But not only for this reason have we begun to generate payroll receipts electronically but also for other important reasons, such as the following:
- Reduces the amount of paperwork that has to be carried out on a regular basis.
- Significant financial savings are achieved by the company, which can reduce its expenses on both paper and ink for the printer.
- No less important is that the problem of space when storing documents is eliminated, since in this case the storage is a computer or an additional hard drive, as desired.
- We are committed to protecting the environment, taking into account that less paper is used and less electricity is used by not having to use the printer.
For an employee, the pay stub serves as proof of income.
How they are done
When undertaking payroll receipts, the following fundamental aspects must be taken into account:
- It is essential that it be done following the official model that is established as such in the nation in which you live.
- As a general rule, the payroll will refer to calendar months. Otherwise, it will be essential to prove it in the most appropriate way.
- It must also be included how the payment was made (cash, check, transfer...).
- The relevant salary receipts issued must be kept by the company that carried them out for at least a period of five years to be able to deal with different investigations that may be undertaken.
The payroll receipt, proof of income
It is important to note that the payroll receipt is proof of income for an employee.
For this reason, many financial institutions request a payroll receipt when a person goes to request a loan , since the document can verify how much money the individual receives and what payment capacity he or she has. The bank that grants the loan, by consulting its client's payroll receipt, can verify its solvency .