...
- Click "Save" at the bottom of the window. The values that are automatically calculated will appear (gross and net).
- Confirm that all the values are accurate, then exit the window.
- Navigate to Reports and print/export the Employee Year-to-Date Journal Report and the Employee History Detail Report once more.
- Compare the four (4) reports and identify if the newer report is accurate. If there is still a discrepancy, repeat steps 1 through 10 until it is accurate.
Adjusting Paycards for Workers' Compensation
If you need to adjust an employee's paycard for workers' compensation, use the calculations and formula below.
- Amount: The employee's year-to-date value must become equal to "(WCB maximum)*((WCB rate)/100)". If you have overpaid, you will enter a negative value. If you have underpaid, you will enter a positive value.
- For example, assume the rate is 1.51 and the maximum is 92,100. Also assume that the employee's year-to-date 'amount' value prior to adjustment is 2,000.
- "(WCB maximum)*((WCB rate)/100)" = (92100)*(1.51/100) = 1390.71
- This means that we need to enter the difference between 2,000 and 1,390.71. So, in the 'amount' field for WCB, we will enter "-609.29".
- Gross does not need to be changed or modified.
- Base Wage: The employee's year-to-date value must become equal to the WCB maximum. If you have overpaid, you will enter a negative value. If you have underpaid, you will enter a positive value.
- For example, assume the WCB maximum is 92,100 and the employee's year-to-date 'base wage' amount prior to adjustment is 100,000.
- This means that we need to enter the difference between 100,000 and 92,100. So, in the 'base wage' field for WCB, we will enter "-7900.00".