Five QuickBooks Reports to Track Workers Compensation

Track Workers Compensation





Workers Compensation is a form of insurance that replaces wages if an employee is injured in the course of work. The employee gives up the right to sue the employer for negligence. As an employer, it is important to keep track of these expenses. QuickBooks features 5 reports to help you organize workers comp premiums.

The Workers Comp Summary report shows the total gross wage paid, what is eligible for workers comp along with the rate and premium.

The Workers Comp by Code and Employee report shows breaks down the summary report data by employee.

The Workers Comp by Job Summary report shows breaks down summary information by job if it is specified for each transaction.

The Workers Comp Detail report lists each transaction type, employee, and item in addition to the workers comp information from the summary report.

The Workers Comp Listing lists the workers comp code, description, rate, effective date, and the next rate and effective date.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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