Setting Up Workers' Compensation (WCB, WSIB)

Adding a WCB Rate

  1. Open Company > WSIB/WCB
  2. Click on Add WCB Rate, the Add WSIB/WCB Rate will open
  3. Select the Location that you would like to assign the WSIB rate to from the drop down menu
  4. Knit gives you the option to assign a WCB/WSIB rate to a specific departments. If no department is selected, the rate will applied to all employees.
  5. Enter you company's WCB/WSIB rate in the WSIB/WCB Rate (%) field. For Example: if your rate is 0.5%, you would input it 0.5 not 0.005
  6. Select Create

Adding a Debit Option

If your company is located in one of the following Provinces, you have the option to have Knit debit & remit your company's Worker's Compensation payments:

  • Alberta
  • British Columbia
  • Manitoba
  • New Brunswick
  • Ontario
  • Saskatchewan

If your company is not located in one of these provinces, Knit will only be able to make WCB/WSIB calculations; your company will be responsible for submitting these payments to your province's WCB/WSIB jurisdiction.

To Add a Debit option for your company's WCB/WSIB rate:

  1. Open Company > WSIB/WCB
  2. Select Edit Debit Option, located above your company's current WCB/WSIB rate, the Edit WSIB/WCB window will open
  1. Underneath your province, select the checkbox beside Debit and remit WSIB/WCB amount
  2. In the Account Number field, enter your WSIB/WCB account number
  3. The Last Payment Amount & Last Remittance Amount Due fields are optional

Viewing your WSIB/WCB Premiums Report

This report allows you to see all of the eligible payroll runs and their accessible WSIB/WCB earnings.

  1. Open Reports > WSIB/WCB Premiums. In this particular page you'll see all your payroll runs and its assessable earnings
  2. If you are missing a particular payroll run click on Missing Payrolls for WCB:
  • Select the payroll runs that you want to add to your WCB Premiums Report
  • Then click Run WCB Premiums

FAQ

Q: What if I have an employee that is WSIB/WCB exempt?

A: Knit gives you the option to assign WSIB/WCB rates to specific departments. If you have any employee that is exempt, make sure to assign them to a department that does not have a designated WSIB/WCB rate.


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