In government contracting, a prevailing wage is defined as the hourly wage, usual benefits, and overtime paid to the majority of workers, laborers, and mechanics within a particular area. To track a prevailing wage in iPoint requires a bit of setup.
- In QuickBooks, create a wage item for Prevailing Wage. You might need more than one if you have multiple government jurisdictions.
- In iPoint, go to Settings > QuickBooks > Time > QB Wage Items and sync the Prevailing Wage item into iPoint by clicking the blue Get Payroll Wage Items button.
- Go to Settings > Labor Phases and define which of your labor phases can be used for prevailing wage.
- Finally, go to a Project and use the dropdown box to enter the appropriate Wage Item in the Prevailing Wage dropdown.
Now, when a work order is created, all labor phase entries will be adjusted to the project’s Prevailing Wage item, and when you push time to QuickBooks (Settings > QuickBooks > Time > Work Order Times) the correct wage item is used.