Pay stub income worksheet: a free template with the YTD check built in
Download a worksheet that does the arithmetic a stub package needs: net-pay math on every row, a year-to-date chain down the rows, and a flag when a pay period is missing. Or let the converter read the PDFs and hand you the figures.
What is a pay stub income worksheet?
A pay stub income worksheet is the sheet where a stack of pay stubs becomes one set of numbers: a row per stub with pay period, pay date, gross, taxes, deductions, net and year-to-date gross, and a summary that turns the pay-period figures into an average, an annual estimate and a monthly figure.
A good one also checks itself. Each row's math should close, each YTD figure should follow from the one before, and the pay dates should not skip a period.
The template files
Both are blank and carry no personal data. The Excel file also has an example sheet built from fictional stubs.
Excel worksheet (.xlsx)
Twelve stub rows, a Check column, a summary block with average gross, annualized gross and monthly equivalent, an instructions sheet and an example sheet.
Download .xlsxCSV header (.csv)
The input columns as a header row, named like the converter's CSV so columns paste straight across into Google Sheets, Numbers or an import. Formulas live in the Excel file.
Download .csvArithmetic only. The checks compare the numbers you enter with each other. They do not tell you whether a stub is genuine or whether the employment is real.
How to use the worksheet
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Fill in the header
Applicant, employer and pay frequency (a drop-down). The frequency sets how many pay periods a year the summary uses and how long a gap has to be before it is flagged.
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Enter one row per stub, oldest first
Copy pay period, pay date, gross, taxes withheld, deductions, printed net and printed YTD gross straight from each stub. Overtime, bonus and commission are optional.
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Read the Check column
OK means the row's math closes and the YTD chain follows from the row above. Gap?, Net math and YTD tell you which stub to compare with the original page.
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Read the summary block
Average gross per period, pay periods per year, the annualized estimate, the monthly equivalent, YTD gross at the last stub and the variable-pay share, each on its own line.
Turning pay-period figures into monthly income
The arithmetic is simple. Which figures go into it, and which result counts, is set by the lender, loan program or landlord policy. Treat this as a way to keep the inputs consistent, not as a ruling on qualifying income.
| Pay frequency | Pay periods a year | Monthly figure from one period's gross |
|---|---|---|
| Weekly | 52 | gross × 52 ÷ 12 (about 4.33 periods a month) |
| Biweekly | 26 | gross × 26 ÷ 12 (about 2.17 periods a month) |
| Semimonthly | 24 | gross × 2 |
| Monthly | 12 | gross × 1 |
Worked example, built-in sample A (fictional). Four biweekly stubs average $2,214.06 gross per period. Times 26 periods is $57,565.56 a year, and divided by 12 is $4,797.13 a month.
Where policies differ
- Which stubs, and how recent. A single latest stub, a recent run of stubs, or the year to date.
- Average or year-to-date. The average of the stubs is one method. Year-to-date gross divided by the pay periods or months elapsed is another, and the date used to count the time (period end or pay date) also varies.
- Hourly pay. Some policies calculate from rate and expected hours when hours vary from stub to stub, instead of averaging gross.
- Overtime, bonus and commission. Often looked at over a longer history than a few stubs, and sometimes left out if it is not expected to continue.
- Gross or net. Income ratios are commonly stated against gross income, but the policy decides.
The worksheet and the converter report the average, the annualized estimate and the YTD figure separately so that you can apply whichever method applies and show your working.
A blank spreadsheet, a generic OCR dump and this worksheet
What each gives you before you start the income calculation.
| What you need | Blank spreadsheet | Generic OCR dump | This worksheet |
|---|---|---|---|
| Net pay math per stub | Only if you write the formula for every row | No | Built in: gross minus taxes minus deductions against printed net, flagged beyond $0.02 |
| YTD chain across rows | Rarely built | No | Built in: each YTD gross against the previous YTD plus this gross, with a new-year reset |
| A missing pay period | Noticed by eye, if at all | No | Gap? flag when the days between pay dates exceed the pay cycle by half again |
| Monthly equivalent | Whatever shortcut the person remembers | No | Average gross, pay periods per year and a monthly equivalent, each shown separately |
| Filling it in | Type every figure | Copy cells out of a messy dump | Type it, or let the converter read the stubs and paste its CSV columns in |
Pay stub income worksheet: common questions
Is the worksheet free?
Yes. The Excel file and the CSV header are free downloads with no account. The converter has its own free allowance, described on the pricing page.
What does the Check column tell me?
For each row it shows the first problem found: Gap? when the days since the previous pay date are much longer than the pay cycle, Net math when gross minus taxes minus deductions does not match printed net pay within $0.02, YTD when the year-to-date gross does not equal the previous YTD plus this gross, otherwise OK.
How do I get monthly income from pay stubs?
Average the gross pay per period, multiply by the pay periods in a year (52 weekly, 26 biweekly, 24 semimonthly, 12 monthly) and divide by 12. The template shows each of these steps. Whether that figure is the one that counts depends on your lender, loan program or landlord policy.
Should I average the stubs or use year-to-date?
Both are in common use, and policies differ. The worksheet gives you the average of the stubs entered and the YTD gross as of the last stub, side by side, so you can apply whichever method your guideline names.
What is the quick way to convert weekly pay to monthly?
Weekly gross times 52, divided by 12, which is about 4.33 weeks a month. Multiplying by 4 understates monthly income and multiplying by 4.3 is a rounded version of the same thing. Use the method your policy names.
How should overtime, bonus and commission be treated?
Policies differ. Many look at variable pay over a longer history than a handful of stubs and ask whether it is likely to continue. The worksheet has optional columns for overtime, bonus and commission and shows their share of gross, so the stable part of the income is visible.
Why would the YTD check fail when nothing is wrong?
Common innocent reasons: a bonus or correction was paid on a separate check that is not in the stack, the stubs are not consecutive, the employer changed payroll systems mid-year and the YTD restarted, or a pre-tax benefit changed what the stub counts as gross. The flag tells you where to look; it does not say what happened.
Does the worksheet decide whether someone qualifies?
No. It organizes and checks the arithmetic on the stubs. Qualifying income, ratios and approval decisions are for the lender, landlord or underwriter, under their own rules.
How many stubs fit?
Twelve rows are laid out, which covers a quarter of weekly stubs or a full year of monthly ones. Insert more rows inside the table and copy the formulas down.
Can the converter fill this worksheet for me?
It produces a CSV with the same figures per stub (gross, taxes, deductions, net, YTD) plus its own check columns. Copy the matching columns across, or use the CSV on its own and keep the worksheet for the monthly-income step.
Have the stubs as PDFs or photos?
Let the converter read them into one row each and check the chain. Free: 1 file per day, up to 10 pages, no account.
Convert pay stubs