Description
Calculating a proper payroll change can be challenging because of the many components that comprise the final joint account charge, including the salary or dayrate (when allowed), the burdens to be applied, the benefits allowed to be included, the incentive compensation payments allowed, and the worker’s compensation insurance assessment. This session explores various COPAS publications where these payroll components are explained and discussed so attendees can learn how to calculate a proper joint account payroll charge.
Publications addressed include:
- MF-1 1984 Model Form Accounting Procedure
- MF-6 2005 Model Form Accounting Procedure
- MFI-21 Overhead Principles
- MFI-27 Employee Benefits and Percentage Limitation
- MFI-31 Self-Insurance for Workers’ Compensation and Employers’ Liability Insurance
- MFI-35 Employee and Contractor Training Costs
- MFI-37 Incentive Compensation Costs
- MFI-49 Employee and Contractor Awards
Learning Objectives: By the end of this class you will be able to
- Calculate joint account payroll charges for various employees, including field and office-based personnel
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