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Earnings statements (also called pay stubs or check stubs) are important payroll records for employers and employees that document information about wages paid, hours worked, deductions made and benefits accrued by an employee.
Meaning of earnings statement in English a document that an employee receives giving details of money they have been paid: A personal earnings statement will provide information about how many hours someone worked. See also. pay slip. pay stub.
Earnings means gross pay before deductions, i.e. (before deducting) income tax, pension, medical and similar payments, but excluding similar payments (contributions) made by the employer in respect of the employee.
What Are the Four Key Elements of an Income Statement? The four key elements in an income statement are revenue, expenses, gains, and losses.
Steps to Prepare an Income Statement Pick a Reporting Period. Generate a Trial Balance Report. Calculate Your Revenue. Determine the Cost of Goods Sold. Calculate the Gross Margin. Include Operating Expenses. Calculate Your Income. Include Income Taxes.
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Requesting an Earnings Statement Contact the human resources or accounting departments at your place of work to do so. Theyll be able to walk you through the steps that your employer requires for you to get access to your records. The steps youll have to take will vary from a company to another.
An earning statement is very important in terms of financial transparency. It provides a breakdown of the gross pay and the various deductions, enabling employees to know their earnings as well as deductions.

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