How much workers compensation you owe depends on the arrangement you have
with your insurance carrier. Some insurance carriers ask you to pay periodic
payments of the actual amount of insurance you have accrued, based on wages
paid or hours worked. Other carriers ask you to pay an estimated amount; then,
at the end of the year, they perform a reconciliation to determine whether
you've paid the appropriate amount, compared to the actual accruals.
Payment schedules also vary. Some insurance companies ask you to pay every
month. Others arrange a different schedule with you.
To find out how much you have accrued in actual workers compensation
premiums for a given time period, you can either run a
workers compensation summary
report or you can view the balance of your workers compensation premiums in
the Pay Liabilities window.
Important: Your reports and the amount in the Pay Liabilities window
will be accurate and complete only if you set up workers compensation before
you ran your payroll for the given time period.
Workers Compensation overview