Add/update Workers Compensation (WIC) Groups and Rates

Add and update WIC Groups or rates

To estimate your Workers Compensation premium payments, you can make use of the Workers Compensation Industry Classification (WIC) rates in your platform.

It's important to keep these rates up-to-date as you add new operations or if there are any changes to your WIC rates.

In this article, we will cover:

  • Adding a new WIC Group
  • Updating existing WIC Groups or rates
  • Workers Compensation Reports

 Please note: When adding new operations (including new operation rates books for those businesses that use these), you'll need to set up the operation WIC Group and rates prior to setting your rates book otherwise you will not be able to save your new rates book.

  Looking for the process of paying Workers Compensation? See our guide here!

Add a new WIC Group

When adding Workers Compensation, you'll first need to create a WIC Group and then add the WIC rates.

To add a new WIC group:

  1. In the quick menu select the hamburger icon to open the full menu > Payroll Settings > Workers Compensation then click Add Group.
  2. Enter the Group ID.
  3. Enter the Name.
  4. Click + next to the relevant Group Name.
  5. Enter the ID, Name and Rate.
  6. Click Save.

Update existing WIC Groups or rates

Update WIC Groups

There may be times when you need to update your existing WIC Groups. Some examples may include: 

  • Adding a new WIC rate to an existing WIC Group
  • Updating the WIC Group name

To update your WIC Groups:

  1. In the quick menu, select the hamburger icon to open the full menu > Payroll Settings > Workers Compensation.
  2. Choose to update the following within the WIC Group: 
    • Add - Add a new WIC rate to the WIC Group
    • Edit - Edit the Group name
    • Delete - Delete the WIC Group
  3. Once you have made the relevant changes click Save.

Add,

Update WIC Rates

At the end of each financial year, you may be required to update your existing WIC rates.

 Please note: When entering a new financial year, it's crucial to review and update your WIC rates (if necessary) from the first pay period of the financial year.

To update your WIC rates:

  1. In the quick menu, select the hamburger icon to open the full menu > Payroll Settings > Workers Compensation.
  2. Select the down arrow against the relevant group and select the edit icon to edit the name and rate within that group (or to delete use the bin icon).
  3. Once you have updated the relevant rate details click Save.

Reports
You'll find Workers Compensation data in the following reports: