For more information about the fields on the Workers' Compensation Codes setup window, select from the list below:
A label that identifies the workers’ compensation policy.
The province associated with the workers' compensation group and its associated set of codes. The rate or rates are determined by the province's Workers' Compensation Board (WCB).
The employer's Workers' Compensation Board identifying number in any combination of characters up to 60.
The identifying number of your Workers' Compensation insurance policy in any combination of characters up to 60.
A description of your Workers' Compensation plan or policy in any combination of characters up to 60 characters.
The date of the last change made to the policy record is displayed in this field. You cannot make an entry in this field, it is for your information only.
Select the premium calculation method your policy uses:
- Rate Per Hour Worked
- Rate Per $100
If your Workers' Compensation insurance policy has a ceiling, enter the maximum number of employee hours covered in the Ceiling field if you chose Rate Per Hour Worked or enter the maximum dollar amount covered if you chose Rate Per $100.
Note: This field cannot be edited after the code is setup (saved).
Select this check box if you want to adjust an employee's overtime pay to the employee's regular rate of pay when you print the Workers' Compensation Report.
Note: This field cannot be edited after the code is setup (saved).
The general ledger expense account associated to this workers' compensation group.
The general ledger liability account associated to this workers' compensation group.
Enter the date when the current Workers' Compensation rates insurance policy become effective. The system uses the start date to calculate the ceiling, if any, for the coverage period. You should update the start date each year when your coverage your policy is renewed.
Enter the start date of the workers’ compensation group used previously. This will enable you to enter a previous ceiling and rate, so that you can report workers' compensation information based on a ceiling and rate used previously. You should update the previous start date when your coverage is renewed.
Enter the annual wage ceiling or the maximum number of work hours used in the premium calculation. The figure you enter represents the maximum amount of annual earnings or the maximum number of hours worked that is covered by workers' compensation. The system will report the premium calculated on wages or hours for the reporting period, up to the ceiling for the coverage policy period.
This field is available only if you entered a Previous Start Date.
Enter the annual wage ceiling or the maximum number of work hours previously used in the premium calculation. The figure you enter represents the maximum amount of annual earnings or the maximum number of hours worked that is covered by workers' compensation insurance. The system will report the premium calculated on wages or hours for the reporting period, up to the ceiling for the coverage policy period.
A code of up to 6 letters or numbers that identifies the workers' compensation rate you assign to employees or to a specific type of work.
You can use the same codes for the same type of work in different provinces. If an employee moves from one province to another but stays in the same type of work, then the new province's rate will apply when you change the employee's WC Group on the Employee Payroll window.
A description of up to 60 characters that identifies the workers' compensation code and rate for reports.
Enter each Workers' Compensation rate applicable to the employees in your company. The system uses this rate to calculate premiums shown on the workers' compensation reports.
Enter each Workers' Compensation rate applicable to the employees in your company. The system uses this rate to calculate insurance premiums shown on the workers' compensation insurance reports.
This column is available only if you entered a Previous Start Date.
Enter each Workers' Compensation rate previously applicable to the employees in your company. The system uses this rate to calculate previous premiums shown on the workers' compensation reports.
This column is available only if you entered a Previous Start Date.
Enter each Workers' Compensation insurance rate previously applicable to the employees in your company. The system uses this rate to calculate previous insurance premiums shown on the workers' compensation insurance reports.