Anchor’s Pay What You Owe Program calculates what you owe to the penny, based on your actual wages, rather than estimating your approximate payroll figures. Each payment can be deducted automatically and exactly, so there is no need to handwrite estimated premium checks to your insurance carrier.
Each time you run a payroll, Anchor will send the actual payroll figures to your workers’ compensation carrier. Your carrier will calculate your premium for the pay period based of exact wages, not estimated ones. This will allow you the freedom and peace of mind of never over or underpaying.
Reports can also be made available at each pay period for budgeting purposes and to minimize the trouble of information-gathering, should you choose not to integrate your workers’ compensation and your payroll.