Any Contractor and subcontractor working on Federal Projects are required to submit certified payroll records to the Federal Agency that is in charge of the project. (Davis-Bacon act ) In addition, many states have similar rules to the Federal government when funding construction projects.
The prevailing wage has been put into place to prevent the use of cheap labor and to ensure workers are paid a fair wage based on their geographical area and classification.
The government requires each contractor to complete a WH-347 form which certifies that the payroll is accurate and this must be submitted to the agency overseeing the government contract. This form lists every employee, their wages, the benefits they’re entitled to, the type of work they did, and the hours they worked.
If your firm is not in compliance with the prevailing wage requirements and does not submit weekly certified payroll reports you will be penalized and your firm certainly will not receive any additional government work.
The challenge for the typical contractor is that compiling the above information is tedious, timely and can be very confusing. This coupled with government regulations is a nightmare.
We have reviewed several software packages and our preference is Certified Payroll Reporting which has been used by thousands of contactors around the country and has simplified prevailing wage reporting
EWBizservice.com has proven expertise in both Certified Payroll and Construction Accounting.
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