What are pay slips?

A pay slip is a document that’s given to an employee with each pay. It shows their total wages earned for a set period. This might be from a salary, hourly wages or commission.

Pay slips also list tax withheld and personal deductions made. This includes insurance and superannuation contributions. Pay slips are also known as ‘pay stubs’, ‘paycheck stubs’, or ‘pay advice’.

Traditionally the pay slip was a paper document attached to a physical cheque. Today, most employers prefer to use electronic pay slips.

 

Related terms:
How long to keep payroll records?

Related Xero feature: 
Do simple pay runs in Xero

Related Small Business Guide: 
How to prevent common small business payroll mistakes

Accounting Terms

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What are pay slips?

A pay slip is a document that’s given to an employee with each pay. It shows their total wages earned for a set period. This might be from a salary, hourly wages or commission.

Pay slips also list tax withheld and personal deductions made. This includes insurance and superannuation contributions. Pay slips are also known as ‘pay stubs’, ‘paycheck stubs’, or ‘pay advice’.

Traditionally the pay slip was a paper document attached to a physical cheque. Today, most employers prefer to use electronic pay slips.

 

Related terms:
How long to keep payroll records?

Related Xero feature: 
Do simple pay runs in Xero

Related Small Business Guide: 
How to prevent common small business payroll mistakes

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