There is no definitive answer to this question, as the correct expense category for Workman's Comp insurance will depend on the specific business and its accounting practices. However, some common expense categories that Workman's Comp insurance could fall under include:
This is the most common category that Workman's Comp insurance will fall under. Insurance is a broad category that can encompass many different types of insurance, including Workman's Comp.
Another common category for Workman's Comp insurance is employee benefits. This is because Workman's Comp insurance is a type of insurance that is provided to employees to help protect them in the event of an injury at work. As such, it can be seen as a benefit that is provided to employees.
Another category that Workman's Comp insurance could fall under is safety. This is because Workman's Comp insurance is designed to help protect employees in the event of an injury at work. By providing this type of insurance, businesses are effectively investing in the safety of their employees.
Another possible category for Workman's Comp insurance is human resources. This is because this type of insurance is typically managed by the human resources department in a business. As such, it can be seen as a human resources expense.