*WC (Workers' Comp)
Did you know that BeyondPay can track your Workers' Compensation information? At a minimum, it can be helpful to identify the WC Codes assigned to each employee. But depending on your policy, it may also help track WC Classes based on the specific work being performed. Perhaps you have a driver that sometimes works behind a desk--if your policy allows, you can allocate the WC Class code based on the hours worked in each cost center or job function. This can dramatically reduce your overall WC Rates.
We can also calculate estimates of your Workers Compensation rates based on your actually payroll numbers. This is useful for reporting to P&C companies that track "pay-as-you-go" workers compensation plans, but it can also be helpful flowing through to our general ledger reports for you to accrue expenses that are trued up later in the year with the annual audit.
Talk to your Client Service Rep if you aren't sure you are taking advantage of all we have to offer in this area!
How do workers' comp codes flow?
It can sometimes be confusing when setting up and assigning WC Codes. While we won't go into a full user guide with this tutorial, we wanted to give some tips when assigning WC Codes to employees. It can be helpful to assign WC Codes based on a cost center, department, division, or job that employees work. You can also assign directly to each employee (and even make that field required so you don't ever forget to populate it!).
TLDR; Jobs(HR) > Cost Centers > Employee Default > Company Default
There is a specific order in place when HR is enabled & a workers comp code is attached to a job.
When an employee has an HR(Job) attached that has a workers comp code assigned, that is the primary WC code on the employee.
If there is no WC code assigned to the job, then the next WC code to take precedence is the code assigned to the cost center, then the Employee Default WC code, & finally the Company Default WC code
The default Workers Compensation fields at the employee level can populate from default.
The two greyed out fields flow down from the Job Screen (Company Settings > HR Setup > Jobs):
Default Job WC Type Code
Default Job WC Code
The third field can flow down from the Company level (Company Settings > Global Setup > Company Setup, Defaults tab, Defaults Profiles widget, Other Defaults section, Workers Comp Code):
Here is the order of precedence:
The system will always look at the following field, in the following order, when determining the Workers Comp code used with each payroll:
1) WC Code tied to an HR(Job)
2) WC Code tied to a Cost Center
3) Default WC Code tied to an employee
4) Default WC Code assigned to the company