Product Tips
Master Tip: How to Use QuickBooks to Handle Prevailing Wage Fringe BenefitsBy: QuickBooks Payroll Group
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Situation
Many of your contractor clients are likely to deal with Prevailing Wage* contracts, either currently or in the future, and handling prevailing wage fringe benefits in QuickBooks can get complicated.
Response
Nancy Smyth is a specialist in certified payroll and complying with government contract requirements. In the following Master Tip, she shares how to handle Prevailing Wage issues in QuickBooks in some detail. The fifteen-page tip includes step-by-step instructions and screen shots covering the four ways contractors typically deal with such payments.
For your convenience, the tip can be opened or downloaded in PDF form. Almost everyone has the free Adobe Acrobat Reader, but if you need it, look for it here.
| How to Use QuickBooks to Handle Prevailing Wage Fringe Benefits |  [PDF, 72 KB] |
You can also share this PDF with clients as needed.
* Note: The term Prevailing Wage usually means the wage (including benefits and overtime) paid to the majority of workers in the largest city in each county. Prevailing Wage rates are tracked and posted by the U.S. Department of Labor under the Davis-Bacon and related Acts, as well as many state departments of labor. Contractors accepting government work will likely do so (and always at the federal level) under a prevailing wage contract, meaning the contractor must pay prevailing wages as established and document same.
Our thanks to Nancy Smyth for this substantive tip. Nancy is a long-time Certified QuickBooks ProAdvisor based in Vermont. Nancy’s company Sunburst Software Solutions, is a Gold Developer in the Intuit Developer Network.
Learn about how the processes outlined in the tip flow into Sunburst Software Solutions here. And visit the Sunburst Software site to learn more about contractor and other payroll issues, along with information about the software solutions there.
Last Updated: 02/12/2009
