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QBS Department Spotlight: Finance, Accounting and Workers’ Compensation Team

This month we are glad to continue to introduce you to our different departments. This month, meet the QBS Finance, Accounting and Workers’ Compensation Team.

QBS Finance and Accounting team is responsible for processing all day to day accounting transactions (A/R and A/P), standard reconciliations, banking transactions. We also oversee all financial reporting and compliance — including corporate income tax planning and execution. At year end, we work hand in hand with an outside auditing firm to ensure QBS financial reporting is accurate and complete.

We also work with our clients on their 401(k) set up, enrollment, and payroll related transactions for participating employees and the companies themselves. This team also keeps QBS in compliance via state licensing which requirements vary from state to state.

Our Workers’ Compensation team assists clients to manage the reporting and management of workers’ compensation claims. We can accurately classify employees by workers’ compensation codes and, by loading your current workers’ compensation costs, our system can provide you with actual overhead costs per pay period, which helps tracks your accrued liability for accounting purposes.

And, during audits, we’re able to work with your carriers and brokers directly to provide them with the detailed reporting and accurate calculation of costs they need.  Plus, as part of our collaboration, we can track any work-related injuries incurred during the year and help keep you in compliance. In addition, we work with employers to help get employees back to work as quickly as possible.

Stay tuned next month as we share more about other valued departments and all they do for us and our clients!


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