Calculating & Displaying Fringe Benefits on a Certified Payroll Report
One of the biggest causes of confusion for contractors working on government funded construction projects is “how to calculate and display fringe benefits” on a certified payroll report. In recent months, I have repeatedly seen posts from QuickBooks users on the Intuit Community Forums asking how the fringe benefit rate is calculated and then displayed on the Certified Payroll Report in Excel, which is now a standard function of QuickBooks Premier and Enterprise when used in conjunction with Enhanced Payroll, and I really haven’t seen any good responses. Hence today’s blog post. Background: Contractors who work on government funded construction projects are required to pay their employees a “prevailing” rate of pay; based on where the project is located and the type of work they are performing. This “prevailing rate…