Payroll processing and Workers Compensation go hand in hand. Ally Payroll Solutions can add significant value and time savings to you by combining these two essential functions. By coding your employees with their appropriate classifications we can transmit the data to your insurance carrier each payroll.
Traditional Workers Compensation policies are less efficient and large premium adjustments can be a hardship to your company. By estimating the amount of your premium based on the prior year’s payroll you are exposed to large adjustments (over payments or under payments) at the end of the year when the audit is completed. In addition these plans generally also require a 30% down payment.
This can create a cash flow crunch because an underpayment will be due at the same time as the 30% deposit is due for the next year.
Why Pay-As-You-Go is better
- No down payment
- Payroll information is reported weekly on actual payroll – No Estimates
- Annual audits less suseptable to large adjustments
- Easily review reports and premium calculation
- Ally will help with the audit and reports
- Multiple carriers offers & supported by Ally