Workers' Compensation Overview
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Workers’ compensation codes are used to determine workers’ comp premiums for employees.
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Workers’ compensation codes are used to determine workers’ comp premiums for employees.
A deduction is a monetary amount subtracted from an employee’s taxable income that reduces the amount paid on a pay statement.
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An accrual policy defines how and when balances associated with accrual codes are credited and debited.
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Pay groups are assigned to a set of employees and define how they are paid. Pay groups determine pay frequency, pay schedule, and processing steps.
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Taxes are calculated based on locations. A location is the physical location where the employee works, which determines the worked-in state/province income tax and/or local income tax.
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Taxes are calculated based on locations. A location is the physical location where the employee works, which determines the worked-in state/province income tax and/or local income tax.
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A general ledger is a journal containing accounting transactions related to a company’s assets, liabilities, equity, revenue, and expenses.
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