How traditional billing works
Your insurer usually starts with estimated annual payroll and bills you on the policy’s payment schedule. If your restaurant adds a patio crew during summer, the initial estimate may no longer match what you pay. Let your agent know when payroll changes materially.
How monthly reporting works
Where offered, you report actual payroll for each reporting period and the carrier uses it to calculate that period’s bill under the policy terms. Ask whether payroll data can come directly from your payroll provider or needs to be entered manually.
Will I still have an audit?
Plan for a final audit. Monthly reports can bring your payments closer to actual payroll throughout the year. The final review can still account for classification changes, payroll corrections, and other exposures. Ask about minimum premiums, fees, and reporting deadlines when you compare options.
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