What a scary thought, an auditor visiting your office! Don't be afraid, be prepared! Check out How To Prepare For A Workers Comp Audit for FREE detailed information on how to prepare for a workers comp audit!
Getting ready for the work comp auditor can be stressful. But it's a process of necessity. The audit process is the time when all workers compensation accounts are brought to balance. You see, when you buy a workers comp insurance policy, the premium you pay is really just a deposit premium, based on the projected payroll of your business for the next 12 months. Then at the end of the policy period, 12 months, the insurance company will perform an audit on your books to determine just what your actual payroll was then recalculate your premium and adjust out if they owe you money back or bill you if you owe them more money. Simple!
Well it's really quite complicated. So be sure to check out the web page "How to Prepare for an Audit" that's shown above. You'll find some good tips in there that will help make your visit with the auditor a more pleasant experience!
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