Discussion in 'General Industry Discussions' started by jsf343, Mar 2, 2007.

  1. jsf343

    jsf343 LawnSite Bronze Member
    Messages: 1,786

    I got a letter from saif corporation (for workers comp) that they want to do a "premium audit" of all our records! Is this a big deal? Apparently it can be as long as a full day unless you are well prepared. We use quickbook pro and I feel like we are effeciant with our record keeping, I am just wondering if they will want to look at equipment, trucks or go through the shop? Is this a biggie? anyone else go through one of these audits?

  2. Gene $immons

    Gene $immons LawnSite Bronze Member
    Messages: 1,028

    A work comp audit is no big deal. I had one that lasted about an hour. They just want to make sure that your payroll matches up to what you are paying them for the coverage.

    The woman doing mine came to my shop with a laptop and worked very fast.

    Nothing to worry about.

    They didn't look at any of my equipment.
  3. prizeprop

    prizeprop LawnSite Senior Member
    Messages: 822

    They audit us once a year. It's a phone audit and takes about 15 minutes.Just ask me for alot of numbers for each quarter and what type of work we perform,etc. They send us a work sheet proir to have all the required numbers available.No big deal so far. Knock on wood :hammerhead: "Premium audit" maybe a little more exploratory.
  4. jsf343

    jsf343 LawnSite Bronze Member
    Messages: 1,786

    Wheeeeeeeeeeeeew, I figured it was something like that.
  5. jsf343

    jsf343 LawnSite Bronze Member
    Messages: 1,786

    By the way how is your new shop working out?
  6. gene gls

    gene gls LawnSite Gold Member
    Messages: 3,213

    If you use a CPA for tax reporting, he can handle it.

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