Create Your Own Pay slip as Proof of Income
People who are self employed and have a business of their own has no one to answer to but himself. You don’t have any boss and you can dictate your own salary according to how much you want to work. There are also drawbacks to being self-employed. When applying for a loan or a credit card, you need to show proof of income which are not able to do. Instead of showing your entire bank account to prove your income, it is better to have your own pay slip instead.
Regular employee paychecks come with a detailed pay slip which shows how much they earned, how much deductions are to be taken and the final amount which they take home. In order to show the income received by an employee, employers make use of a template where they put the hours the employee worked, the gross income and the net income after deductions. If you are self employed, you are the only one who knows exactly how much you make, and this can make it difficult to prove your income when you are applying for a loan. But, if you use a template to create your own payslip complete with all of the appropriate tax deductions, you will have real proof of income. You can create a complete pay stub with your company name and address on it just like the one you would receive if you were working for an employer. If you do this on a weekly basis then you can then have proof income whenever you need it. Even if you do not actually write yourself a paycheck every week, you should still make sure that you have some proof of income available.
If you are looking for a pay slip template you can look for it in any local office supply store and the library. Today , most self employed people and small businesses rely on their computers to track their finances, so your should also look for a template online. If you do a careful search of the different kinds of pay slips available online, you should be able to find exactly what you are looking for. You can then create your own official pay slip for yourself or any employees you might have that includes all the necessary information pertaining to gross pay, taxes, and deductions and a net pay per week or whatever pay period you choose. These pay slips can prove your income the next time you decide for a loan.
Online template for pay slips are very important especially for self employed individuals who need to show proof of identity when they need a loan or a credit card, and with these templates you will be able to provide complete information about your own business .
