What this form is for
This form generates a compliant pay stub for your employees that satisfies lender verification requirements when they apply for loans or mortgages. Business owners also use it to document their own compensation when applying for commercial credit or SBA loans.
Before you start
- Employee's current W-4 filing status, allowances, and any additional withholding amounts on file
- Gross wages for the current pay period broken down by regular hours, overtime, bonuses, and commissions
- Year-to-date totals for gross pay, all withholdings, and net pay from the previous pay period
- List of all pre-tax deductions such as health insurance premiums, HSA contributions, and retirement plan deferrals, plus any post-tax deductions like garnishments or union dues
- Your federal EIN, business legal name, address, and company logo file if you want the stub to match your branding
Step-by-step
1. Enter employer information at the top including your business legal name, EIN, and full address. Upload your company logo if the form offers that option so the document looks professional and matches other business records.
2. Fill in employee identification details such as full legal name, Social Security number, address, hire date, and the current pay period begin and end dates.
3. Input gross earnings by category for this pay period: regular hours times hourly rate, overtime hours times overtime rate, and any salary, bonus, or commission amounts. The form should auto-calculate total gross pay.
4. Enter all pre-tax deductions that reduce taxable income such as health insurance employee contributions, dental or vision premiums, 401(k) deferrals, HSA contributions, and flexible spending account amounts.
5. The form will automatically compute federal income tax withholding using IRS Publication 15-T tables based on the employee's W-4 settings. It also calculates FICA at 6.2 percent for Social Security and 1.45 percent for Medicare. Since Florida has no state income tax, that line will remain zero.
6. Add any post-tax deductions such as court-ordered wage garnishments, Roth retirement contributions, life insurance premiums, or charitable contributions that come out after taxes are withheld.
7. Review the auto-calculated net pay figure to confirm it equals gross pay minus all withholdings and deductions. Check that this amount matches what you actually deposited or will deposit into the employee's account.
8. Enter year-to-date totals for every line item including gross earnings, each tax and deduction category, and cumulative net pay. These must match your payroll register and quarterly tax filings.
What lenders look for
- Banks verify that YTD figures are consistent across multiple pay stubs and match W-2 forms or quarterly payroll tax returns, so never round or estimate these numbers.
- Underwriters immediately flag pay stubs with missing employer EIN, inconsistent pay periods, or YTD totals that do not increase logically from one stub to the next.
- Florida applicants sometimes forget they still owe federal taxes even without state withholding, so make sure federal and FICA calculations are accurate and current.