Certified Payroll - Wage And Hour Free Template
This Downloadable Template Is Part Of Our Free Free Excel Construction Template Collection
On any project, payroll is a topic no-one can afford to mess up. One way to stay on top of things and keep everything organized is by ensuring each of your subcontractors submit regular payroll reports.
You can use this handy template to keep track and make sure everyone on your project is getting paid properly.
This interactive Excel file is pre filled with the formulas you need to start filling it out and utilizing it right away.
The Team At SINC
Certified Payroll is a very specialized, time-consuming process that contractors are required to use when doing publicly-funded or assisted government and military projects. Without full compliance to the requirements of certified payroll, there's a good change you won't be paid for your work, so it's critical that all contractors and subcontractors understand the requirements.
Unfortunately, as with many government programs, certified payroll is extremely data-heavy, and can be very confusing to implement, but is nevertheless absolutely necessary. To stay complaint, it is necessary to complete and submit federal form WH-347 on a weekly basis, and to ensure you are following the requirements of prevailing wage, and of the Davis Bacon Act as it pertains to the state where work is/has been completed.
At the end of the day, you need to ensure that each member of your team is being paid properly, and at the same time, that you are reporting exactly what happened in each pay period. You also need to demonstrate that you are following the requirements of the federal, state and local regulations. These requirements can vary greatly depending on what state you're in, and what class of worker you're employing. At least initially, it may take you a couple of hours to review data sources, compile the necessary information, and fill out the forms.
If you don't have a Certified Payroll Professional (CPP) on staff, it would be wise to consult one to ensure that you are completing the forms properly and that you are aligned to the regulations. Any mistakes you make can lead to serious repercussions over and above not receiving payment so it's important to take the topic seriously. It's not unheard of for people to receive huge fines and/or jail time for records falsification.