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In this video, Hector Garcia, a CPA and QuickBooks consultant, explains pay stubs, their purpose, and the essential information they contain. Pay stubs provide detailed information about an employee's paycheck for each pay period and typically accompany physical paychecks; however, many employers offer direct deposit and provide pay stubs electronically for a paperless process. Garcia emphasizes the importance of pay stubs in keeping employees informed and providing clarity regarding their earnings. He encourages viewers to like the video if they're interested in more content about QuickBooks, accounting, and small business topics.