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How is certified payroll different from payroll?
When employees work on certified jobs, employers must be careful to ensure their rate of pay is greater than or equal to government wage determination rates. This is called a prevailing wage determination.
Prevailing wage employee pay can vary widely based on geography or the type of work an employee performs. Rates can vary by job, by location and by type of work performed. HCM TradeSeal’s reporting technology makes it easy to include prevailing wage employees on any Certified Payroll report. HCM TradeSeal also calculates prevailing wages and benefits automatically, to ensure employees are always paid the correct rate.
Prevailing wage fringe benefits require advanced calculation
HCM TradeSeal saves employers money on wage and tax overpayments caused by prevailing wage cash fringe benefits. By automatically converting employer paid benefits into “fringe credits,“ HCM TradeSeal is able to reduce or eliminate payment of prevailing wage cash in lieu.
Prevailing wage fringe credits
It may be possible to save tens or hundreds of thousands of dollars in overpayments and unnecessary taxes. We’ll help you calculate benefits before a payroll is processed and apply credits.
Certified payroll in multiple states and jurisdictions
If your company works on Certified Payroll projects in different states or jurisdictions, you may need to submit different types of Certified Payroll reports. Additionally, you may need to report fringe benefits differently across different Certified jobs.
HCM TradeSeal‘s certified payroll technology makes it easy to report to multiple agencies, General Contractors or portals such as LCP Tracker, eCPR, Washington L&I or eMars.
Working with PLAs and county rates
If your Certified Payroll jobs are impacted by a project labor agreement (PLA) or rates that vary by county, it will be important to ensure that non-union workers receive the correct rate of pay as determined or influenced by local unions. In some cases, varied rates of pay can have an impact on the way fringe benefits are calculated.
HCM TradeSeal‘s automatic calculations can enforce rate and benefit rules that vary by location. PLA or county-specific rates are included on Certified Payroll reports.
