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How much workers compensation do I owe?

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.

See also

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