Problem:
You have a company that has multiple WCB rates. You will need to set these up differently.
Solution:
You may setup multiple WCB Rates in the payroll categories section by using a benefit category. This will allow you to track the WCB costs.
- To get to the Payroll Category screen go to Setup/Payroll Category. Then go to Add and select Benefit.
- Enter the information.
- Click Save. Paymate will ask if you want to assign this item to all employees. If you have more than 1 WCB rate you should select No.
- Click Close.
The following table will assist with explanations:
| Option | Function |
|---|---|
| Item number | Specify a unique item number for the Benefit. It must be numeric only with no Wild Card Characters. |
| Description and Abbreviation | Enter a description (up to 25 characters) and an abbreviation (up to 10 characters) for the Benefit. |
| Type | Enter the Type as Formula and in the formula box enter the correct percentage beside each earning that is subject to WCB such as hourly, salary, overtime, etc. This amount is the rate you are charged for WCB (e.g. 3.5%).Enter the type as Formula and using the button next to the field specify the formula as being 4% of Salary, and/or 4% of Hourly Wages, Overtime 1, Overtime 2, etc. Make sure you include all vacation able earnings. If the rate of vacation pay varies by employee then specify the formula as being 100% of Salary, Hourly Wages, etc., and on the employees pay card (Setup > Employees) enter the % rate in there. |
| Subject to | NONE of the boxes should be checked. |
| Form Assignments | All the form assignments should say Not Reported Maximum Per Year. Enter the annual maximum that you will pay in WCB for an employee. To calculate this amount, take the maximum assessable amount for your province. The amount of assessable maximums is different for each province and changes every year. Please check with Canada Customs and Revenue Agency. For this example we will use Ontario . For year 2002 the maximum assessable earnings in Ontario is $59,200 per employee. Take this amount and multiply it by the percentage that you are assessed for WCIB (e.g. 3.5%). The calculation is as follows: $59,200.00 X 3.5% = $2075.50 per employee. |
| Reset at Yearend | Check the box beside Reset at Year End. |
| Contributes to | Do not place a check mark in this box |
| Show on Paystub | Do not place a check mark in this box |
You should now set up your second and/or third rate by repeating steps 2 through 4, again selecting No when asked to apply to each employee.
- After this is done, go to the main Paymate window and select Setup > Employees.
- Select an employee and click Edit.
- Select the Pay Card tab. Here are the WCB categories you set up. Check the box of the WCB category that applies to this employee. Each employee should be assigned only one WCB rate.
Note: To determine the amount of WCB owing; from the main Paymate window select Reports > Payroll Categories. Select the item you have created from the list. The report will then print out a listing of the WCB owing for that category. Repeat for each WCB rate.