How do I create this report?
Go to the Reports menu, choose Employees & Payroll, and
then click Workers Comp Summary.
This report tells you how much workers compensation insurance you have
accrued. The report includes subtotals for each
compensation code you set up in QuickBooks.
The report also includes subtotals for employees whose default workers
compensation code is Exempt and for earnings that were not assigned job code
(this row is called No WC Code). QuickBooks does not include these subtotals
in the final totals in the WC Premium and Adj. WC Premium columns.
What the columns mean
Note: Workers compensation reports include some, but not necessarily
all, of these columns.
The sum of all wages that are subject to workers compensation insurance.
Note: If you compare the Gross Wages in the Workers compensation
summary report to the Gross Wages in the Payroll summary report, they might not
be the same amount. The Gross Wages in the Workers compensation summary report
does not include earnings listed in a paycheck's Other payroll items table,
such as tips, which are usually not subject to workers compensation
The total of overtime premiums.
QuickBooks displays this amount for those users who
premiums from their workers compensation calculations. If you do not exclude
overtime premiums, you can ignore this column.
If you set up workers compensation to exclude
premiums from your calculations, WC Wages equals Gross Wages minus OT Premium.
If you set up workers compensation to include overtime premiums in your
calculations, WC Wages equals Gross Wages.
The amount of hours your employees worked for the particular workers
The workers compensation insurance rate for the workers compensation
Note: If a report spans a date range during which a code's rate
changed, the report displays two rows for the code, one for each rate.
WC Wages multiplied by the WC Rate.
If you do not use an experience modification rate in your calculations, this
is how much you accrued.
The rate for your
If you did not specify an experience modification rate, QuickBooks sets the
experience modification rate to 100% in this report.
WC Premium multiplied by Exp. Mod.
If you use an experience modification rate in your calculations, this is the
amount you have accrued.
The default date range for this report is last month. You can show workers
compensation premiums for a different date range by choosing another date range
from the Dates drop-down list.
What do the different date
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