Monday, July 16, 2012
The reporting requirements for government work can be very involved. You not only need job costing reports to monitor jobs but also other specialty reports, including the following:
- Certified Payroll - All contractors and subcontractors must submit certified payroll reports to ensure compliance with government contracts. A certified payroll report consists of two parts: a breakdown of your employees’ classes, wages, hours worked and overtime, and a statement of compliance, which allows you to show whether your employees received fringes.
- EEO Minority Compliance - Many prevailing wage jobs also require you to submit EEO minority compliance reports, which provide critical employee information required by the U.S. Department of Labor, including workers’ trades, classification, totals for federal and non-federal work hours and minority percentages to meet affirmative action regulations.
- Over/Under Billing - You might also be required to submit over/under billing reports to surety bond agents to receive bonding.