Having the ability to set a GL account for each Workman's Compensation code for a specified group will allow greater control/tracking of WC expenses in companies that have mulitple Workman Compensation codes. Workers comp codes have a direct impact on the premium an employer contractor will pay for their workers compensation insurance. There is a different rate associated with each code assigned to a business. As an example, the clerical code rate may be $.40 while the carpentry framing code rate may be $15.00, quite a large difference and these rates are per $100 of payroll.
by: Travis T. | over a year ago | Payroll
Comments
GL accounts for the expense and for the liability.
Also allow a selection if you want cost center overrides to these GL Accounts.