What is a Payslip?

A payslip (or pay slip) is a document issued by a company to show net income received by an employee each month. It specifies details of that particular employee's earnings, such as salary, commissions, bonuses, overtime pay (OT) and other deductions from the salary which may include withholding tax, social security contributions, and provident fund contributions.

How is a payslip different from a salary certificate?

A Salary Certificate is a document that verifies an employee's employment at a specific organization, including the position, income, start date, and length of service. However, it does not provide detailed information on earnings and deductions like a payslip or payroll slip does.

For a comparison of these two documents, you can read more about The Importance of Salary Certificates for Employees.

What Information Should a Payslip Contain?

1. Document Title: Indicates it is a payslip (e.g., “Pay Slip”).
2. Company Information: The company name or some template includes the company address as well.
3. Employee Information: Contains employee ID, name, position, and department.
4. Pay Period: Specifies the payment cycle such as March 2025, or specifies payment date range such as 1-31 March 2025.
5. Payment Date: Indicates the date the salary is paid.
6. Sources of Income: Lists all earnings such as salary, commissions, position allowance, bonuses, overtime, special income, living allowances, or other earnings that the employee receives from the company.
7. Deductions: Details of all deductions from your total salary such as social security contributions, withholding tax, provident fund contributions, or any other deductions made by the company.
8. Net Income Summary: Shows the total income after all earnings and deductions to show actual amount received by the employee for a specific pay period.

The key information on the payslip is the net salary, which reflects the final amount after calculations. The employee can verify if this amount matches the remuneration transferred to their bank account.

Types of Payslips

Many people are familiar with the traditional carbon paper payment slips that can be torn along perforated edges on the left and right. This type of payroll slip has been widely used by many companies and is trusted by banks.

Over time, some companies, especially small and medium-sized enterprises (SMEs), began transitioning away from carbon paper payroll slips to a more efficient and cost-effective method by printing payment slips on A4 paper from PDF files.

Nowadays, many payroll programs and applications allow companies to issue ePayslips (electronic payslips) which offers significant convenience for HR personnel as it eliminates the need to print and distribute salary slips individually. It reduces paper usage, minimizes the risk of data breaches, prevents loss, and allows employees to easily access their pay slips through their email or a company system. Many banks also trusted in electronic payslips.

Key Benefits of ePayslips

1. Security: Reduces the risk of sensitive data being exposed.
2. Convenience: Distribution is fast, cost-effective, and easy to use. Employees can quickly access e-slips (including archived ones) through the HR and payroll platform.
3. Data Management: Electronic storage enables quick access to all data at any time.
4. Cost Efficiency: Reduces costs by replacing traditional paper printouts with digital documents.

Use FlowAccount Payroll to create payslips online

Business owners, accountants, or HR personnel can use FlowAccount Payroll, an online payroll program to transition from paper pay slips to digital ones. This system allows payroll payments to be deposited into employee accounts and simultaneously sends salary slips via email or prints them, if necessary. The system also calculates various employee expenses, including withholding tax, social security contributions, and adjustments for additional payments or deductions. 

Here’s how to issue payslips easily and quickly with FlowAccount Payroll

1. Create a payroll list by clicking on the menu “Payroll/Salary/Tax” and then “Create New”

2. Select monthly-wage employee and Pay by any channel such as “Pay by Transfers” and create payroll

3. Specify the payroll period and payment date, then click save

4. Click the three-dot button next to the employee’s name and select “Print a Payslip”

Sending Payslips to Employees via Email with FlowAccount Payroll

Here's how to distribute payslips securely via email while reducing HR workload:

After creating a payroll list, you can click the three-dot button and choose either “Download All Payslips” or “Send All Payslips via Email.”

Even Better Together: Payroll + Accounting Solutions

There's more to it than payments. Maximize efficiency by managing your payroll and accounting from the same system with FlowAccount Payroll.

Here’s the key features we offer:

• Simple Setup: Adding your payroll for any schedule, daily or monthly, and store it online to quickly sync with payments.
• Quick calculations & minimal mistakes: Calculating taxes and social security contributions in a snap.

• Pay your team with a button click: Ensuring your staff are paid on time, every time. Quickly sync and approve secure online bank transfers.

• Always-in-sync accounting and payroll records: Easily share real-time payroll data with our cloud payroll software in Thailand.

For FlowAccount customers, the FlowAccount Payroll program is available for issuing online payroll slips for free. New users can try both programs for free by visiting https://flowaccount.com/ and clicking “Sign Up for Free.”