For whatever reason every time my workers comp rates change, the company in which I have WC through never send an email or letter to notify me of any rate changes so I can make the appropriate changes in Quickbooks so everything is accurate. I noticed today that back on 09/06 they changed (increased) the rates and I did not notice until this morning when I received an email stating how much that company will be taking for WC, and the amount of course did not add up with what I had in QB. I last ran payroll on 09/17 and have only ran it once since the rate increase. There is a difference of $8.57. I know how to adjust liabilities to correct this for the company in QB Desktop. But I was wondering if I also need to adjust this for each employee in QB?
Thank you in advance for all of your help. I do appreciate it!
Solved! Go to Solution.
Hi there, JustinB75.
I appreciate the detailed information that you've provided me.
To ensure your payroll reports are correct, adjusting payroll liabilities for the employees is also needed. Then, to have the system calculate Worker's Compensation for the updated rate, here's what you'll need to do to edit the rate:
To know more about handling Worker's compensation and how you can do the adjustments, see the below articles:
Should you have other questions, do let me know. I'll be around to help. Take care.
Hi there, JustinB75.
I appreciate the detailed information that you've provided me.
To ensure your payroll reports are correct, adjusting payroll liabilities for the employees is also needed. Then, to have the system calculate Worker's Compensation for the updated rate, here's what you'll need to do to edit the rate:
To know more about handling Worker's compensation and how you can do the adjustments, see the below articles:
Should you have other questions, do let me know. I'll be around to help. Take care.
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