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G26ou14F
Level 1

Workers Comp Setup - Premium Calculation

Hi,

I am setting up workers comp for a new policy. We have employee codes, but there is also codes for additional policy costs such as terrorism risk, expense constant, etc. These are not directly associated with a specific payroll group. How do we incorporate this in the overall policy rate costs?

 

Screenshot attached showing policy cost summary. Does anyone have any suggestions? 

 

This is manually setup workers comp in QB Desktop. 

 

 

1 Comment 1
Jovychris_A
Moderator

Workers Comp Setup - Premium Calculation

I can help add new codes for additional policy costs in your Worker's Comp setup, @G26ou14F.

 

You can update your Workers Compensation Setup to assign a new code for your employee and remove the assigned code if needed. I'll show you how:

 

  1. Go to the Employees menu.
  2. Select Workers Compensation.
  3. Choose Manually Track Existing Workers' Comp Policy.
  4. Click the Next button until you can view the Set Employee Default Job Classification Codes window.
  5. Add a new code on each employee.
    1.PNG
  6. Click the Next button.
  7. Select Finish to save the setup.

 

For more information, please click this article: Manual Workers' Compensation in QuickBooks Desktop. It covers how to include a code when you create a paycheck.

 

I'm adding some articles about workers compensation that you may find helpful in the future:

 

 

Leave a comment below if you have more QuickBooks concerns. Take care.

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