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Audit!

Discussion in 'Business Operations' started by jsf343, Mar 2, 2007.

  1. jsf343

    jsf343 LawnSite Bronze Member
    Messages: 1,786

    I got a letter from saif corporation today (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 efficient 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. mslawn

    mslawn LawnSite Senior Member
    from LA
    Messages: 483

    Yearly thing, no sweat! It may take 15 minutes on your part. They look at 941's and unemployment reports is about it. Liability insurance is usually a yearly audit also.
     
  3. JohnsonLawn

    JohnsonLawn LawnSite Senior Member
    Messages: 400

    Workers comp premiums are based on payroll. We had an audit and found out we paid to much on our premiums. Can you say REFUND!!! :clapping: Don't sweat it. No biggie.
     
  4. jsf343

    jsf343 LawnSite Bronze Member
    Messages: 1,786

    Excellent! thanks for the replies that makes me feel a bit better.
     
  5. rodfather

    rodfather LawnSite Fanatic
    Messages: 9,501

    I get one every year in the mail...no problermo.
     
  6. LindblomRJ

    LindblomRJ LawnSite Silver Member
    Messages: 2,570

    When had I employees it was not a big deal at all.
     

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