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5 Printable Pay Stub Templates in Word and Excel Format

Sajjad Ahmad September 02, 2017

Small Business Pay Stub Template

You can copy and paste the sections below into your preferred document editor. The tables will format automatically.

Company Name: [Your Business Name Here]

Address: [Your Business Address]

Phone: [Your Business Phone]

Pay Period: [Start Date] to [End Date]

Pay Date: [Date of Check/Deposit]

Employee & Employer Information

Employee Information Employer Information
Name: [Employee Name] Company: [Your Business Name]
Address: [Employee Address] EIN: [Your Business EIN]
Employee ID: [Employee ID] SSN: [Last 4 Digits Only]

Earnings & Hours

Description Rate Hours Current Total
Regular Pay $[Hourly/Salary Rate] [Hours Worked] $[Regular Pay Total]
Overtime Pay $[Overtime Rate] [Overtime Hours] $[Overtime Total]
Bonus / Commission $[Bonus Amount]
Total Gross Pay $[Total Gross Pay]

Taxes & Deductions

Deductions Current Year-to-Date (YTD)
Mandatory Taxes
Federal Income Tax $[Fed Tax Amount] $[Fed Tax YTD]
Social Security Tax $[SS Tax Amount] $[SS Tax YTD]
Medicare Tax $[Medicare Amount] $[Medicare YTD]
State Income Tax $[State Tax Amount] $[State Tax YTD]
Local Income Tax $[Local Tax Amount] $[Local Tax YTD]
Other (e.g., Garnishments) $[Other Amount] $[Other YTD]
Total Taxes $[Total Taxes] $[Total Taxes YTD]
Voluntary Deductions
Health Insurance $[Health Ins Amount] $[Health Ins YTD]
Retirement (401k/IRA) $[Retirement Amount] $[Retirement YTD]
Other $[Other Deduction] $[Other Deduction YTD]
Total Deductions $[Total Deductions] $[Total Deductions YTD]

Summary

Current Year-to-Date (YTD)
Gross Pay $[Total Gross Pay] $[Gross Pay YTD]
Total Taxes $[Total Taxes] $[Total Taxes YTD]
Total Deductions $[Total Deductions] $[Total Deductions YTD]
Net Pay $[Net Pay] $[Net Pay YTD]

Payment Method: [ ] Direct Deposit [ ] Paper Check

Check Number: [Check Number, if applicable]

This is a computer-generated pay stub. Please contact [Your Name/HR] at [Your Phone/Email] with any questions.

Key Information for the Small Business Owner:

Customization is Key: Replace all bracketed [ ] information with your specific details.

Legal Requirements: Pay stub requirements vary by state. Some states require employers to provide a detailed pay stub, while others do not. Check your state's Department of Labor website for specifics. Common required items include:

  • Gross Wages
  • Net Pay
  • Hours Worked (for non-exempt employees)
  • List of Deductions
  • Pay Period Dates

Using the Template:

  • In a Word Processor: Insert a table and then copy the rows and columns. You can create a master document and save a copy for each pay period/employee.
  • In a Spreadsheet (Recommended): This is the most efficient way. You can set up formulas to automatically calculate:
    • Regular Pay Total = Rate * Hours
    • Total Gross Pay = SUM(All Earnings)
    • Net Pay = Gross Pay - (Total Taxes + Total Deductions)
    • YTD columns can be formulas that add the current period's amount to the previous YTD total.

Handy Spreadsheet Formula Example:

If B4 is the Rate and C4 is the Hours, the Current Total in D4 would be: =B4*C4

Your Total Gross Pay cell would be: =SUM(D4:D6) (assuming rows 4-6 have earnings).

Security: When storing these documents, especially digitally, ensure you protect employee personal information (like full SSN). Using only the last four digits is a good practice.

This template provides a solid, professional foundation that will help you maintain clear and accurate payroll records for your small business.

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Self-Employed Pay Stub Template

[Your Business Name / Your Name]

Pay Stub

Employee & Employer Information

Employee Name: [Your Name]
Employee Address: [Your Home/Business Address]
SSN/EIN: [Your Social Security Number or Employer Identification Number]
Pay Period: [Start Date] to [End Date]
Pay Date: [Date of Payment]
Employer Name: [Your Business Name] (If different from your name)
Employer Address: [Your Business Address]
Employer EIN: [Your EIN] (If you have one)

Earnings & Deductions Summary

Description Amount
Gross Income (This Period) $[Total Income for the Period]
Less: Business Expense Deductions  
      • [Expense Category 1, e.g., Home Office] $[Amount]
      • [Expense Category 2, e.g., Software] $[Amount]
      • [Expense Category 3, e.g., Mileage] $[Amount]
      • [Expense Category 4, e.g., Marketing] $[Amount]
Total Business Expenses -$[Sum of All Expenses]
Net Business Income (Taxable) $[Gross Income - Total Expenses]
Less: Estimated Tax Set-Aside (Recommendation)  
      • Self-Employment Tax (15.3%) -$[Net Income * 0.153]
      • Federal Income Tax (Varies by bracket) -$[Your Calculated Amount]
      • State Income Tax (Varies by state) -$[Your Calculated Amount]
Total Tax Set-Aside -$[Sum of All Tax Set-Asides]
NET PAY (Transfer to Personal Account) $[Net Business Income - Total Tax Set-Aside]

Year-to-Date (YTD) Summary

Description Amount
Gross Income YTD $[Total Income Year-to-Date]
Business Expenses YTD $[Total Expenses Year-to-Date]
Net Business Income YTD $[Gross Income YTD - Expenses YTD]
Taxes Paid YTD (Estimated) $[Total Taxes You've Paid This Year]

Key Explanations for the Self-Employed Template

Employee & Employer are the Same: This might seem odd, but for record-keeping and loan applications, it's clear. You are both the worker (Employee) and the business owner (Employer).

Gross Income: This is the total revenue you invoiced and received during this pay period before any expenses or taxes.

Business Expense Deductions: This is the most critical part for a self-employed person. Itemizing your legitimate business expenses lowers your taxable income. Common categories include:

  • Home Office
  • Internet & Phone
  • Software & Subscriptions
  • Marketing & Advertising
  • Mileage (using the IRS standard rate) or Car Expenses
  • Meals (50% deductible under specific circumstances)
  • Travel
  • Supplies
  • Professional Services (Accountant, Lawyer)

Net Business Income: This is your profit for the period. It's the figure you use to calculate your self-employment and income taxes. It's equivalent to the "Taxable Wages" on a traditional pay stub.

Estimated Tax Set-Aside: This is not an actual payment but a crucial part of managing your finances.

  • Self-Employment Tax: ~15.3% for Social Security and Medicare.
  • Income Tax: The percentage depends on your tax bracket. A common rule of thumb is to set aside 25-35% of your Net Business Income for total taxes (this includes SE tax and income tax). Consult a tax professional for your exact rate.

The "Net Pay" at the bottom is the amount you can safely transfer to your personal checking account for living expenses after accounting for future tax bills.

Year-to-Date (YTD) Summary: This is vital for tracking your annual performance and making accurate quarterly estimated tax payments.

How to Use This Template Effectively

  1. Choose a Pay Period: Decide if you will "pay yourself" weekly, bi-weekly, or monthly. Consistency is key.
  2. Track Everything: Use accounting software (like QuickBooks, FreshBooks), a spreadsheet, or an app to log every business expense and income payment.
  3. Be Accurate: Only deduct expenses that are legitimate, ordinary, and necessary for your business. Keep all receipts and documentation.
  4. Make it Official: While this is for your own records, presenting a well-formatted pay stub like this to a landlord or bank lender looks far more professional than a simple bank statement.

Disclaimer: This template is for informational purposes only and is not a substitute for professional accounting or legal advice. Tax laws are complex and vary by location. It is highly recommended that you consult with a qualified accountant or tax advisor to ensure you are compliant with all regulations.

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Household Employer Pay Stub

Employee & Employer Information

Employee Information Employer Information
Employee Name: [Nanny's Full Name] Employer Name: [Your Full Name(s)]
Address: [Nanny's Address] Address: [Your Address]
SSN: [Optional, but recommended for record-keeping] Pay Period: [Start Date] to [End Date]
Pay Date: [Date of Check]

Earnings Details

Earnings Type Hours Rate Current Total
Regular Hours [# of Hours] [$X.XX] [$X.XX]
Overtime Hours (1.5x) [# of Hours over 40] [$Y.YY] [$Y.YY]
Sick/Vacation Pay [# of Hours] [$X.XX] [$X.XX]
Bonus/Other [$X.XX]
Gross Pay: [$X.XX]

Deductions (Current)

Deduction Amount
Federal Income Tax [$X.XX]
Social Security Tax (Employee 6.2%) [$X.XX]
Medicare Tax (Employee 1.45%) [$X.XX]
State Income Tax (if applicable) [$X.XX]
Other (e.g., health insurance) [$X.XX]
Total Deductions: [$X.XX]

Summary

Item Current Year-to-Date (YTD)
Gross Pay [$X.XX] [$X.XX]
Total Deductions [$X.XX] [$X.XX]
Net Pay [$X.XX] [$X.XX]

Payment Method: [e.g., Check #1234, Direct Deposit, Zelle]

Important Notes for the Household Employer:

  • Taxes are Mandatory: If you pay a nanny $2,700 or more in a calendar year (2024 threshold), you are required by law to withhold and pay payroll taxes (Social Security, Medicare, and Federal/State Unemployment). You must also pay the employer's portion of Social Security and Medicare taxes.
  • Overtime: Household employees are almost always entitled to overtime pay under the Fair Labor Standards Act (FLSA). This is 1.5 times their regular rate for all hours worked over 40 in a 7-day workweek.
  • Keep Records: It is crucial for both you and your employee to keep these pay stubs for tax purposes. You will need the information to file Schedule H with your personal tax return.
  • Use a Payroll Service (Highly Recommended): To simplify tax calculations, withholdings, and year-end forms (like a W-2), consider using a household payroll service like HomePay (by Care.com), Poppins Payroll, or NannyChex. They automate all the math and legal compliance.
  • Clarity is Key: Providing a detailed pay stub like this prevents misunderstandings about pay, hours, and deductions, fostering a professional and trusting relationship with your employee.

By using this template, you are taking an important step toward being a responsible and professional household employer.

Simple Text Version (for plain text email)

Copy and paste the text below into an email and fill in the blanks.

PAY STUB FOR [Nanny's Full Name]

EMPLOYEE INFORMATION
Name: [Nanny's Full Name]
Pay Period: [Start Date] to [End Date]
Pay Date: [Date of Check]

EARNINGS
Regular Hours: [# of Hours] @ [$X.XX/hr] = [$X.XX]
Overtime Hours: [# of Hours over 40] @ [$Y.YY/hr] = [$Y.YY]
Sick/Vacation Pay: [# of Hours] @ [$X.XX/hr] = [$X.XX]
Bonus/Other: [$X.XX]
-----------------------------------------
GROSS PAY: [$X.XX]

DEDUCTIONS
Federal Income Tax: [$X.XX]
Social Security Tax (6.2%): [$X.XX]
Medicare Tax (1.45%): [$X.XX]
State Income Tax: [$X.XX] (if applicable)
Other: [$X.XX]
-----------------------------------------
TOTAL DEDUCTIONS: [$X.XX]

SUMMARY
Gross Pay: [$X.XX]
- Total Deductions: [$X.XX]
NET PAY (Take Home): [$X.XX]

YEAR-TO-DATE (YTD) TOTALS
Gross Pay: [$X.XX]
Net Pay: [$X.XX]

Payment Method: [e.g., Check #1234, Direct Deposit]

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INDEPENDENT CONTRACTOR PAY STUB
  


    
        

            
                
INDEPENDENT CONTRACTOR PAY STUB

            		
        

    

    
        

            
                Contractor Details:
                

                

                    
Name:[Contractor Name]

                    
Address:[Contractor Address]

                    
  

                    
Tax ID:[SSN or EIN]

                

            		
            
                Client/Payer Details:
                

                

                    
Company:[Client Company Name]

                    
Address:[Client Company Address]

                    
  

                    
Payer ID:[Client ID, if any]

                

            		
        


        

            Pay Period: **[Start Date]** to **[End Date]**
            Payment Date: **[Date Payment was Issued]**
        

        

            Invoice Number: **[Your Invoice #]**
            Payment Method: **[Check, ACH, PayPal, etc.]**
        


        

            
                
EARNINGS SUMMARY

            		
        


        

            Description
            Quantity/Hours
            Rate
            Amount
            YTD Total
        


        

            [Service Description]
            [Number of Hrs]
            [$XXX.XX]
            [$XXXX.XX]
            [$XXXXX.XX]
        

        

            [Service Description]
            [Number of Hrs]
            [$XXX.XX]
            [$XXXX.XX]
            [$XXXXX.XX]
        

        

            Reimbursement: [Desc]
            -
            -
            [$XXX.XX]
            [$XXXXX.XX]
        


        

             
            SUBTOTAL:
            [$XXXX.XX]
        

        

            DISCOUNT:
            [$-XXX.XX]
        


        

             
            TOTAL PAYMENT:
            [$XXXX.XX]
        


        

            
                
AMOUNT PAID: $[XXXX.XX]

            		
        


        

            
                
IMPORTANT NOTES

                

                
    
                    
  • This is **not** an employee paycheck. No taxes have been withheld.
    • 
                    
  • Independent Contractor is responsible for all self-employment taxes.
    • 
                    
  • Please retain this stub for your tax records.
    • 
                    
  • Please reference Invoice #**[Your Invoice #]** for any inquiries.
    •

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Understanding a "Pay Stub" for a Sole Proprietor

Unlike an employee, a sole proprietor does not receive a "salary" or "paycheck" in the traditional sense. You are the business owner, and the business's net income is your income. The money you take from the business is called an "Owner's Draw" or "Personal Draw."

Therefore, this "pay stub" is not for payroll tax purposes (you don't withhold taxes from yourself), but rather for:

  • Personal Record Keeping: Tracking how much money you are taking from the business.
  • Proof of Income: For loans, rentals, or other applications that require verification of your business income.
  • Financial Management: Separating your personal and business finances, which is a key best practice.

Pay Stub Template for Sole Proprietor

[Your Business Name]
Sole Proprietorship
[Your Business Address]
[Phone Number & Email]
Pay Stub
Employee: [Your Name] Pay Period: [Start Date] - [End Date]
SSN: [Your Social Security Number] Pay Date: [Date of Transfer]
EARNINGS HOURS RATE CURRENT YEAR-TO-DATE
Owner's Draw - - $[Amount] $[YTD Total]
         
         
GROSS PAY     $[Amount] $[YTD Total]
DEDUCTIONS (Notes) CURRENT YEAR-TO-DATE
(Estimated Tax Pt 1) - - $[Amount] $[YTD Total]
(Retirement Cont.) - - $[Amount] $[YTD Total]
(Health Insurance) - - $[Amount] $[YTD Total]
TOTAL DEDUCTIONS $[Sum] $[YTD Total]
NET PAY (Owner's Draw) $[Net Amount] $[YTD Total]
  [Text: One Thousand...]  

PAYMENT METHOD: [Bank Transfer / Check #1234]

Notes: This is not a payroll check. Funds withdrawn are an Owner's Draw from the net income of the sole proprietorship. Taxes are not withheld and are the responsibility of the owner.

How to Use This Template & Key Explanations

1. EARNINGS Section:

  • Owner's Draw: This is the total amount of money you are transferring from your business bank account to your personal account for this period.
  • Gross Pay: For a sole proprietor, this is the same as your Owner's Draw for this period. It's called "Gross" here because it's the amount before you've accounted for any personal expense payments or tax savings you might be tracking.

2. DEDUCTIONS Section (CRITICAL):

This section is for your tracking purposes only. The government does not see this as a payroll deduction. You are simply moving money from one account (business) to another (personal) and then setting some of it aside for future expenses.

  • Estimated Tax Payment: This is the most important deduction. As a sole proprietor, you are responsible for paying estimated quarterly taxes (for Income Tax and Self-Employment Tax). When you make one of these payments to the IRS/state, you can record it here to track how much you've set aside and paid.
  • Retirement Contribution: If you transfer money from your business account to a SEP-IRA or Solo 401(k), record it here.
  • Health Insurance Premiums: If you pay for your health insurance through the business, you can track the premium payments here.

3. NET PAY:

This is the amount of the draw that is left after you've "deducted" (i.e., set aside for) taxes and other items. This is the actual cash you have available for personal living expenses.

NET PAY = GROSS PAY - TOTAL DEDUCTIONS

Simplified Alternative Template

[Your Business Name]
PAY RECORD
Owner: [Your Name]
Period: [Start Date] - [End Date]
Date: [Date of Transfer]
 
Gross Owner's Draw: $[Amount]
 
Less: Estimated Tax Set-Aside: $[Amount]
Less: Retirement Contribution: $[Amount]
 
Net Cash to Owner: $[Net Amount]
 
YTD Total Draws: $[YTD Total]
 
Payment Method: [Bank Transfer]

Final Recommendations:

  • Use Accounting Software: For ease and accuracy, consider using software like QuickBooks Self-Employed, FreshBooks, or Wave. They can automate tracking income, expenses, estimated taxes, and draws.
  • Separate Bank Accounts: Always maintain separate checking accounts for your business and personal finances.
  • Regular Draws: Get into the habit of taking a regular, consistent "owner's draw" (e.g., every two weeks or once a month) instead of random, irregular amounts. This makes budgeting and bookkeeping much simpler.
  • Track Everything: Keep this pay stub with your other business financial records.
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Understanding LLC Member Compensation

Unlike employees who receive a "salary" or "wages," LLC members are typically compensated through **Owner's Draws** or **Guaranteed Payments**.

Owner's Draw:

A distribution of the LLC's profits to its members. This is not subject to payroll taxes (like Social Security and Medicare) when paid. However, the member is responsible for paying self-employment taxes on their share of the LLC's net income.

Guaranteed Payment:

A fixed payment to a member for services provided to the LLC, similar to a salary. These are treated as ordinary income for the member and are subject to self-employment tax. For the LLC, they are a deductible business expense.

The template below uses "Owner's Draw" as it's common for single-member LLCs and multi-member LLCs where members are not on payroll. You can easily replace it with "Guaranteed Payment."

Pay Stub Template for LLC Members

You can copy and paste this into a spreadsheet or word processor.

[YOUR LLC NAME]
[LLC Address]
[Phone Number]
[EIN: XX-XXXXXXX]
Pay Stub For: [Member Name] Stub Date: [Date of Distribution, e.g., 10/31/2023]
Member ID: [Optional ID Number] Pay Period: [e.g., October 1, 2023 - October 31, 2023]

EARNINGS
Description Type Rate Amount
Owner's Draw Distribution N/A $[XXXX.XX]
       
       
       
TOTAL EARNINGS: $[XXXX.XX]

DEDUCTIONS
Description Type Amount
Federal Income Tax (Est.) Withholding $[XXX.XX]
State Income Tax (Est.) Withholding $[XXX.XX]
[Other Deduction] [e.g., Loan Repayment] $[XXX.XX]
     
TOTAL DEDUCTIONS: $[XXX.XX]

YEAR-TO-DATE (YTD) SUMMARY
Current YTD
Gross Earnings $[XXXX.XX] $[XXXXX.XX]
Total Deductions $[XXX.XX] $[XXXX.XX]
NET PAY $[XXXX.XX] $[XXXXX.XX]

*** IMPORTANT NOTES ***

  • This is a record of a member distribution (Owner's Draw) and not a traditional employee paycheck.
  • No FICA (Social Security/Medicare) taxes are withheld by the LLC. The member is responsible for calculating and paying self-employment taxes on their share of the LLC's net income.
  • Withheld income taxes are estimates for the member's convenience. The member is responsible for making quarterly estimated tax payments to the IRS and state.
  • Please retain this document for your personal and tax records.

How to Use This Template & Key Considerations

Choose the Correct "Earnings" Type:

As mentioned, decide if the payment is an Owner's Draw or a Guaranteed Payment. This decision has major tax consequences and should be made with your accountant. For S-Corp elections, members on payroll would use a standard employee pay stub.

Tax Withholdings are ESTIMATES:

LLCs generally do not withhold taxes from an Owner's Draw. The amounts listed under "Deductions" for federal/state tax are purely for the member's record-keeping to track what they should be setting aside for their quarterly estimated tax payments.

The member is responsible for paying income tax and self-employment tax (approx. 15.3%) directly to the IRS and state.

Fill in the Blanks:

  • [YOUR LLC NAME]: The official name of your Limited Liability Company.
  • [LLC Address/EIN/Phone]: Your business contact information and Employer Identification Number.
  • [Member Name]: The full name of the LLC member receiving the draw.
  • [Stub Date]: The date the money was transferred.
  • [Pay Period]: The time period for which the draw is being issued (e.g., monthly, quarterly).
  • Earnings Amount: The gross amount of the distribution before any estimated deductions.
  • Deductions: List any actual deductions (like a repayment for a member loan to the LLC) or estimated tax withholdings.

Maintain a Running YTD:

Keep accurate records of all pay stubs throughout the year. The **Year-to-Date (YTD) totals** are essential for filing your annual personal tax return (using Schedule C and Schedule SE if you're a sole proprietor, or a K-1 if you're in a multi-member LLC).

Documentation:

Always keep these stubs for your records, along with your LLC's operating agreement and profit/loss statements. They are crucial for:

  • Proving separation between personal and business finances (**piercing the corporate veil**).
  • Preparing your personal tax returns.
  • Applying for loans or mortgages (as proof of income).

By using this template and consulting with a professional, you can ensure your LLC's member compensation is documented clearly and professionally.
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Construction Pay Stub Template

[Company Logo Placeholder]

BUILT RIGHT CONSTRUCTION CO.

123 Main Street, Anytown, USA 12345
Phone: (555) 123-4567 | Email: payroll@builtright.com

Employee Information
Employee Name: John Doe Employee ID: 2024-001 Pay Period: 04/01/2024 - 04/15/2024 Pay Date: 04/19/2024
Address: 456 Worker Lane, Anytown, USA 12345 SSN: XXX-XX-1234

Earnings & Hours
Job Code / Project Rate Type Hours Rate Current Pay
Project Alpha - Site Prep Regular 40.00 $30.00 $1,200.00
Project Alpha - Site Prep Overtime (1.5x) 10.00 $45.00 $450.00
Project Beta - Foundation Regular 24.00 $30.00 $720.00
Training Regular 8.00 $30.00 $240.00
Total Hours: 82.00 Total Gross Pay: $2,610.00

Deductions & Contributions
Type Description Employee Deduction Employer Contribution
Pre-Tax Health Insurance $150.00 $350.00
Pre-Tax 401(k) (5%) $130.50 $65.25
Post-Tax Union Dues $50.00 -
Post-Tax Pension Fund $100.00 $200.00
Post-Tax Apprentice Training Fund $10.00 $20.00
Total Deductions: $440.50 $635.25

Taxes
Tax Type Employee Paid Employer Paid
Federal Income Tax $312.00 -
Social Security (6.2%) $161.82 $161.82
Medicare (1.45%) $37.85 $37.85
State Income Tax $130.50 -
State Unemployment (SUTA) - $85.00
Federal Unemployment (FUTA) - $21.00
Total Taxes: $642.17 $305.67

Summary
Current Year-to-Date (YTD)
Gross Pay $2,610.00 $15,660.00
Total Deductions $440.50 $2,643.00
Taxable Wages $2,069.50 $12,417.00
Total Taxes $642.17 $3,853.02
Net Pay $1,527.33 $9,163.98

Payment Method: Direct Deposit Account (Last 4 Digits): ****1234

Disclaimer: This pay stub is for informational purposes only. Please review and report any discrepancies to the payroll department within 10 days. Check with your accountant or payroll professional to ensure compliance with federal, state, and local laws.

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Freelance Pay Stub Template

You can copy and paste this into a document editor like Microsoft Word or Google Docs and fill in the blanks.

PAY STUB

Freelancer Information

Name: [Your Full Name]
Business Name: [Your Business Name, if applicable]
Address: [Your Street Address, City, State, ZIP Code]
Email: [Your Email Address]
Phone: [Your Phone Number]

Client/Payer Information

Client Name: [Client's Full Name or Company Name]
Client Address: [Client's Street Address, City, State, ZIP Code]
Invoice/Reference No.: [Your Invoice Number]

Earnings Summary

Pay Period: [Start Date] to [End Date]
Pay Date: [Date Payment was Received]

Earnings Description Hours/Qty Rate Current Total
[e.g., Web Design Services] [10.0] [$75.00] [$750.00]
[e.g., Copywriting - Project Fee] [1.0] [$500.00] [$500.00]
[e.g., Consultation Hourly] [2.5] [$100.00] [$250.00]
Subtotal: [$1,500.00]
Taxes Withheld: [$0.00] *
Other Deductions: [$0.00] *
NET PAY [$1,500.00]

*Important Note for Freelancers: As a freelancer, you are responsible for paying your own taxes (self-employment tax). Clients typically do not withhold taxes from your pay. Any deductions for business expenses should be tracked separately.

Thank you for your business!

How to Use This Template Effectively:

  • Fill in Your Details: Always keep your information up to date.
  • Client Details: Fill this out for each specific client and payment.
  • Invoice Number: Crucial for linking the pay stub to your original invoice for easy reference.
  • Earnings Description: Be specific. Instead of "Services," write "Social Media Management," "Software Development," etc. For project fees, you can list it as a quantity of "1".
  • Taxes Withheld: Leave this as $0.00 unless you are working through an agency that specifically withholds taxes (which is rare for true freelancers).
  • Save as PDF: Once filled out, save this document as a PDF named clearly, e.g., PayStub_ClientName_2023-10.pdf, and store it in a dedicated folder.

Why You Need a Pay Stub as a Freelancer:

  • Proof of Income: Essential for applying for loans, mortgages, or renting an apartment.
  • Professionalism: Provides a clear, formal record for your clients.
  • Tax Preparation: Simplifies your bookkeeping and makes it easier to report income accurately during tax season.
  • Financial Tracking: Helps you monitor your cash flow and see which clients and services are most profitable.

Alternative Simple Version (Text-Based)

PAY STUB

Freelancer: [Your Name]
Client: [Client Name]
Pay Period: [Start Date] - [End Date]
Pay Date: [Date Received]

EARNINGS:
- [Service Description]: $[Amount]
- [Service Description]: $[Amount]

TOTAL GROSS EARNINGS: $[Total Amount]
TAXES WITHHELD: $0.00
NET PAY: $[Total Amount]

Remember, it's always a good practice to consult with an accountant or tax professional to ensure you are managing your freelance finances correctly.

Sajjad Ahmad

Posted by Sajjad Ahmad

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