Contractor Calculator – FAQ’s

What kind of companies should use this program?
It’s great for small companies wanting to keep track of contractors they hire but are unfamiliar with State record keeping requirements. The program controls the amount of information needed to hire so that they do not end up as an employee or covered worker to use the State vernacular. Use can use this same information to make sure they are in compliance via State web sites. If they do not have all the information after you fill in Add Contractor, don’t hire them.

Even though your state may not require reporting contractors in hours, you will have to produce these in an acceptable format for workers’ compensation and unemployment insurance claims to avoid serious penalties. If a contractor becomes unlicensed while he is working for you, you only have to pay for the hours or and payments he signed for on the Timesheet. This prevents the State workers’ compensation department from over estimating taxes on this contractor.

How do you use this program?

The program is divided into four sections:

  • Add Contractor and Classifications

Here you enter properly licensed and bonded contractors
You need to enter their assigned business risk classification
Then you Combine them to produce Timesheets

  • Time Cards & Adding Hours

This section prints Contractor Timesheets
This allows you to hire them on an hourly basis

You will add hours, authorize payments, record units installed, and any reimbursements. If you think they did a great job, pay them a bonus!

  • Edit Section

Here is where you can edit contractors, classifications, and pay rates.

  • Contractor Reports

Contractor Detail & Summaries
These reports tracks the type of work, hours, authorized payments, reimbursements, and bonuses.

These entries are fixed to prevent fraud and conform to regulatory agency record keeping reporting policies to prevent audits for workers’ compensation and unemployment insurance.

How do I set it up?

When you begin the program, the New Account Registration page asks you for all the information, contact, tax identifiers, and specific tax amounts for your company. This is required even during the 30-day trial period. Once this is done, you will be able to use the program.

What’s the hardest part?

Entering the data in the Add Contractor and Classifications section. This can take about an hour of your time before the program functions easily, quickly, and provides the accurate reports required by State agencies.

What kind of reports do I get?

  • Contractor Hours and Payment Data
  • Accounts Payables Data
  • Accurate historical record required by State Agencies

These reports are propagated each time you enter data which gives you a running total for budgetary analysis and cash flow projections.

Can I print these reports anytime I want?

They can be printed in any time frame you choose including monthly, quarterly, annual, or other analysis. You can find out how much labor was reported for a contractor or a prevailing wages job.

These reports can be reviewed on line or sent to bookkeepers and accountants for payroll data entry, agency reporting, and transmitted via the internet from your very own website via a login and password secured program. No more faxing, transcribed, or call-in errors.

How long does it take to create a contractor or classification report?
About 5 seconds.

How long does it take to produce a Contractor Summary monthly or quarterly report information?

It takes about (5) five seconds to calculate any report.

How does this program capture reporting compliance requirements?
Compliance procedures are built into the program by a team of certified fraud examiners who researched and use this program on a daily basis to defend small businesses, and decrease fraudulent payable practices.

 What kind of Support do you provide?
We provide on-line support from our HelpDesk by former state auditors, revenue agents, small manufacturers, builders, developers, business owners, and certified fraud auditors.

Is the program audit proof?

If you use the program as required, we will ensure your compliance.

Where do I find more information?

Use our Support & Information page or return to Our Suite of Calculators.

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