Find a Payslip Template Online
Payslips are required by law and have to show certain information such as gross and net pay, income tax and national insurance deducted. They need to show all the relevant details required by the business and the employee. The easiest solution is for a small business to use a payslip template, or for those that are self-employed they are ideal to provide proof of income when applying for loans and martgages.
The most effective ways of getting a payslip template include:
- Download from the internet
- Use Office software websites (see the ones listed here)
- Create your own in Word or Open Office
- Use a standalone program
- Purchase one from a company
Download a payslip template from the Internet
If you search for payslip templates via the search engines you will see a lot of web sites offering them. Some are good, but the ones highlighted on this site are better. Free payslip templates are available if you know where to look.
Use office software websites to buy online
There are many sites available that will provide a payslip template either free or for a small cost. Free ones tend to be limited but there are good suppliers that charge a small amount for payslips. Try Euroffice Payslip Templates as they have a good range. Also UK Office Direct Payslips
, and Viking Direct Payslips offer a lot of different options.
Create your own in Word or Open Office
If you know what information needs to be included on a payslip template then you can use a standard office program such as Word, Excel or Open Office to produce them yourself. They won’t look as good as the purchased templates but they will do the job.
Use a standalone program
You can purchase programs online that will calculate all the necessary tax and national insurance payments for you and print the payslips.
Advantages of a Payslip Template
When you find that you need a payslip, or a few months worth of payslips, then it can be a life saver to be able to get a payslip template so you can add your own details and provide the necessary documentation needed for loans and mortgages. These should be exact replicas of lost payslips though some people do use them to produce payslips that exagerate, or possibly limit, their actual earnings. They are usually professional looking and the same as a payslip you would receive from an employer.
Getting a payslip template that you can personalise means that you can control, and produce documentary evidence of, earnings that need to be assessed. The responsibility lies with you for whatever purpose the payslip is being used for.
Payslip for Proof of Income
Do you need a payslip template as proof of income for a mortgage, loan or other purpose? If you have damaged, destroyed or lost a payslip, or have hand written payslips that have been rejected then there are companies online that will supply a replacement payslip for proof of income purposes. These are legitimate payslips as long as they are copies of originals and should be accepted by banks, mortgage companies and other financial organisations.
With high quality, Inland Revenue approved, payslips and P60s incorporating accurate calculation of tax and national insurance, these are ideal when you need proof of income. They are legitimate as long as they are copies of originals. They can also be useful for the self-employed where proof of income is required in a format that shows employment rather than previous tax returns.
Search online for companies supplying these templates and let us now which ones are best. We will add them here.
You can of course find software that will generate a payslip for you and should be good enough for most purposes.
Sage 50 Payslip Template
For importing data into your payroll software for example, Sage 50 Payroll helps you organise all the inputs and will make the task much easier.
No longer will you have to enter various pay rates for inputs like overtime, bonuses and commissions on separate lines. This is good if you process payroll remotely or receive timesheets from a range of different departments. Enter payments and deductions on the same screen, so things like social club membership subscriptions are easy to identify and account for.
It is now easier to add pay elements, and there are also increased decimal places to give greater flexibility when fractions of money are used. Foreign bank details are recorded in employee records, and you can choose the type of employment for each of your employees.
Buy Payslip Templates Online
You can find office software websites that stock payslip templates online and they are worth checking out.
They have Sage Compatible Pay Advice Form for Software with a Standard payslip layout.
Stocked with Communisis Pegasus Compatible Secure Pay Advice. Communisis Pegasus Opera II-Compatible Laser Pay Advice.
These have a section for Sage and Pegasus Accounting forms which include invoices, statements, remittance advice, as well as payslips.
What’s on a Payslip?
There is certain information that by law has to be included on a payslip. There is other information that your employer might include. These items may be important for your businessso check carefully that they are all included in the template you use.
Gross Pay: Total monthly, or weekly, pay before deductions.
Income Tax: This is compulsory. It is the amount deducted and paid to the Inland Revenue. The amount is calculated by using your tax code.
National Insurance: This is also compulsory and is the amount deducted and paid to the Inland Revenue.
Pension Contributions: This may be a company pension scheme.
Net Pay: This is the actual amount after all deductions that is paid to the employee.
Tax Code: This may be included on the payslip for your information.
Employee Number: This may be shown and is allocated by the company.
National Insurance Number: Not required but sometimes shown on the payslip.
Different payslip templates provide space for different information. Make sure the one you choose shows the compulsory information and whatever else you need to provide in your company. If in doubt check with the relevant finance department. They must show at least income and deductions for the employee.