What expense category does workers compensation insurance come under?

There is no definitive answer to this question, as the correct expense category for workers compensation insurance will vary depending on the business and the way it is structured. However, some possible expense categories for workers compensation insurance include:

Employee Benefits

One possible expense category for workers compensation insurance is employee benefits. This is because workers compensation insurance is a type of insurance that provides benefits to employees who are injured or become ill as a result of their job. As such, it can be seen as a benefit that is provided to employees by the business.

Insurance

Another possible expense category for workers compensation insurance is insurance. This is because workers compensation insurance is a type of insurance, and as such it can be seen as an expense that the business incurs in order to insure its employees.

Health and Safety

Another possible expense category for workers compensation insurance is health and safety. This is because workers compensation insurance is designed to protect employees from injuries or illnesses that they may suffer as a result of their job. As such, it can be seen as an expense that the business incurs in order to ensure the health and safety of its employees.

The information provided in this article does not constitute legal or financial advice and is for general informational purposes only. Please check with an attorney or financial advisor to obtain advice with respect to the content of this article.

Let Ramp automate your expense categorizations

Error Message
No personal credit checks or founder guarantee
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Tired of manually categorizing expenses? See how Ramp can automate this for you in the demo below