WC Codes (Workers' Compensation Codes)

Go to Setup/Division/WC Codes

This is optional since many establishments use a form or program provided by their insurance carrier. In PayMaster, select the "Division", enter the code and click on "Add New Code".

Left click the "New Code" field to highlight, and enter your numbers. Next press "Update Selected". If you right click the "New Code" field, you have the option to rename or delete it.

• The Insurance Rate will vary from employer, entered as whole numbers.
• The Regular Percent is the percent of regular earnings that count toward premium that the employer pays, usually 100.
• The Overtime Percent is the percent of overtime earnings that count toward the premium that the employer pays, usually 100.
• The Bill Rate is sometimes used by accountants who charge customers (the employer) for figuring their Workers' Compensation premiums. Not part of the Workers' Compensation calculation.
• The Tip Percent is the percent of tips that apply toward the premium that is multiplied by the insurance rate. May vary by state.

Related Topics

Division