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Workers Compensation (Annual Report)
the advantages of DM Payroll Services payroll service is the wealth of information we provide
to our clients. Information that can help employers manage their operations in
a more efficient manner. One way of doing this is through our payroll Workers’
Compensation report. This report is available monthly, quarterly or annually
and provides accurate data on your premium liability at any time during the
year. No matter when your annual insurance audit occurs, you will have
complete, detailed information at hand, saving you time and possibly money, too.
The report groups employees by workers’ compensation code and accompanying
rates. Shown for each employee are company paid earnings, premium portion of
the time-and-a-half and double time, third party sick pay and net wages subject
to workers’ compensation insurance. The wages subject to workers’ compensation
are multiplied by the workers’ compensation percentage to show the resulting
insurance expense for the employee. Sub totals appear for each workers’
compensation code and location. Company totals are also printed at the end of
feature is our ability to set up the report to group employees by department
code. This provides actual workers’ compensation expense totals by department
for posting to the general ledger.
However, the primary feature of DM Payroll Services Workers’ Compensation report is its
breakdown of wages by risk classification. In addition, it accounts for the
insurance cap for company officers. With this information, you can virtually
eliminate inaccurate premium assessments due to rushed or sloppy audits.
For more information, contact us at (248) 244-3100 or email@example.com