Specifies the Workers Compensation Categories to be affected by the adjustment or manual paycheck entry.
Required for worker's comp reporting.
WC Ctgry:
Enter a valid Workers Compensation Category Id or double-click to select from a list. This field is required for entries on this tab.
Pay Type Id:
Enter a valid Pay Type Id for this employee/entry or double-click to select from a list.
Hours:
The number of hours worked for worker's comp purposes.
Pay Rate:
The pay rate for this employee.
RF:
This field specifies the rate factor at which the insurance premium rate (entered as Rate below) is assessed relative to the employee's regular base pay rate. Typically, this field would be set to 1.0 for regular and overtime pay types. Wages paid for bonus, holiday and vacation time are not liable for insurance premiums. Refer to your Worker's Compensation Policy for details on rates, limits, and type of pay to be included.
Earnings
The total dollar amount of earnings.
Exmpt Erngs:
The dollar amount of exempt earnings.
Rate:
The Rate for this WC category.
Experience
Enter the experience modifier specified for your policy. This is used to modify your insurance rate based on your firm's previous track record. The Experience Modifier is multiplied by the Rate to determine the premium for each employee.
Discount
Enter the discount percent (if any) your firm is entitled to because of its size. For example, if your firm is entitled to a 3% discount, you would enter 3.00 in this field.
Amount
The dollar amount of the WC premium:
((Earnings - Exempt Earnings) x Rate x Experience x RF)(1 - Discount)
Notice that you must perform this calculation yourself.
Also See...
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Payroll Adjustment Journal - Main Screen