A proof of payment form is necessary for a business as well as an individual. There are several advantages to using this form. The form is basically a small document that shows wage or salary details. Details include gross pay, deductions, and net pay.
In the gross remuneration part, the number of hours worked and the hourly rate will be detailed. These are calculated to give the gross salary. There may be additional bonus amounts or benefits including housing allowances. In the part of the deductions, the amounts that are subtracted for taxes, insurance and medical assistance, among other details, will be detailed. The final amount is the net salary. This is the amount that will be written on the paycheck.
The stub form is easy to understand and can be calculated without any difficulty. If the backup form is used regularly, it can be configured as a template. That is obviously only if the information doesn’t change. Once saved, it is only necessary to enter the information of each employee in the payroll. They can be printed when needed.
The proof of payment form can be used by a person to guarantee a loan or a mortgage. This can be at a bank or a lending institution. One of the requirements of any financial institution is evidence of a regular income. It may be necessary to submit forms that cover a period of six months. This will show if you are able to repay the money owed during the agreed period of time.
The best way to obtain a stub form is through the Internet. There are samples and templates that can be downloaded and customized accordingly.