When was the last time you looked at your pay stub? I'll admit it, I don't typically look. The most common response I receive when I ask someone "Did you look at your pay stub?" is "No, I'm salaried so I get the same every pay day." But that's not the point.
Looking at your pay stub (payslip, pay advice) is a great way for employees to better budget their money. Most employees have no idea if they are taking advantage of various tax savings opportunities. I had one employee, a younger single gentleman, who opted to choose "married" thinking he would have a greater amount of Federal income tax deducted.
Did you set up a 2nd direct deposit account? Check your pay stub for validation. Enrolled in 401(k)? Is the proper percentage being deducted? Is it giving you the Federal tax relief you had hoped for? Check your pay stub.
Looking at your pay stub also allows you the opportunity to see what types of work expenses are being deducted (uniforms and the like). In some cases, these expenses could be itemized deductions on the employee's tax return.
Payroll is part of a larger process that relies on business partners and the employee to provide accurate information. So please, if you notice an extra $10,000 in your bank account on pay day, check your pay stub.
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