A pay stub is a document issued by an employer to an employee that details the employee's wages for a given period of time. The term 'pay stub' is often used interchangeably with 'pay slip' or 'paycheck stub'. OLA is an acronym for 'Online Labor Account', which is a type of pay stub that is created and stored electronically. It contains the same information as a paper pay stub, such as the employee's name, hours worked, rate of pay, deductions, and net pay.