QuickBooks Question – Tracking Prevailing Wage Fringe Benefits
A reader wrote to ask the following question: We were just awarded a contract with the Department of Defense and have to pay our employees "prevailing wage" and submit certified payroll reports. I called Intuit Support to ask them about prevailing wage, certified payroll, and how to track the fringe benefits; they weren't very helpful - they just told me that QuickBooks can produce the certified payroll report.......can you help me understand all this? Answer: Ok, let's start with some basics: The Davis-Bacon Act of 1931 (a Federal Law) set wage rate requirements on government funded construction projects. All contractors & subcontractors who perform work on these public works projects, that have a value of $2,000.00 or more, are required to submit a certified payroll report on a weekly basis.…