My WC insurance just send us a check for prior years stating that its a "partial return of surplus (aka Dividend). This return includes accumulated interest while funds were held in escrow."
Things to consider, we are part of small WC insurance policy for small business, every year they say we get a lower rate or higher rate depending on how the company did and that's how we also get this checks. This is NOT from an Audit adjustment.
Will I be recording this as other income? Offset it to the WC expense account, Investment Income, Interest Income, Retained Earnings??? Please help.
