Configuring PR State Insurance Codes
The PR State Insurance Codes form is used to set up combinations of state and insurance codes, primarily for tracking workers' compensation and general liability insurance.
Before you start
- Knowledge of the applicable state insurance codes and rates.
Steps
- Navigate to thePR State Insurance Codesform.
- Set up each state and insurance code combination required for your business.
- Use the main insurance code setup to specify if the code should override when a specific pay rate exceeds a threshold.
- Go to the deduction/liability tab and assign at least one liability code for workers' compensation insurance with the associated rate.
- If tracking eligible wages without applying a rate, add the record with a zero rate.
- For OSIP, assign a specific liability code with a zero dollar rate to isolate specific wages.
Notes
- The correct threshold rates are set to avoid incorrect insurance code application.
- Double-check the liability codes and rates to prevent errors in insurance tracking.