Small Business Accounting Services

PEOs offer comprehensive human resource management solutions that enable client companies to focus their resources on the core revenue-earning tasks.

Benefit from the Services Provided by Experts

Accounting is one of the important tasks involved in human resources management. A PEO has experts in the field of law, accountancy, business, and other areas of specialization who can handle the responsibilities involved in managing the employees of the client company and also suggest the direction it should take. One of the greatest advantages of hiring a PEO is that it offers solutions that are adaptable to the needs or your company and are hence cost-effective, even if your organization may be small and not have the financial and other resources of a multinational or Fortune 500 concern.

The HR responsibilities taken care of by the PEO include payroll and tax administration, employee benefits administration, Workers’ Compensation administration, human resources administration, risk management, regulatory and government compliance, recruitment and selection, employer liability management and immigration compliance. All aspects that come to play including legal compliance and accounting tasks are taken care of.

Concentrate on Core Revenue-earning Tasks

Small business accounting services ensure that the complex tasks of accounting, tax calculations, legal compliance, and more associated with employee management are taken care of professionally, giving employers much more freedom and resources to devote to the core revenue-earning tasks of their company. It’s the way forward to the judicious use of resources that is key to cost saving and creating sustainability. These factors accentuate the effect of increasing productivity. Greater profit at lesser cost is the formula to success, and small business accounting services could help your firm achieve that.

What is a PEO (Professional Employer Organization)?

A PEO (Professional Employer Organization) basically takes over the human resource (HR) responsibilities of a company, allowing it to focus on its core tasks.

The management of human resources is outsourced to a PEO. A PEO, therefore, offers cost efficient and time saving HR management services, efficient HR practices, streamlined HR administration, means to utilize the full potential of employees, and can suggest rewards and benefits to employees to help them stay motivated and committed to your company.

The PEO’s services inevitably lead to the client company streamlining its overall functioning, as the complex HR department is taken care of and much attention can then be focused on the rest of the management – accounts, production, sales, research and development, and more. The PEO serves businesses of all sizes. Businesses dealing with the production or distribution of any kind of product or service could benefit from the services of a PEO or Professional Employer Organization, be they physicians’ clinics, hospitals, schools, banks, department stores or factories.

A PEO generally functions by hiring the employees of the client company. The PEO then becomes the client’s employer of record, hiring employees and then leasing them back under contract. This relationship established by the PEO with the client company is referred to as co-employment or employee leasing. Variations on this process do exist, with PEOs differing in their extent of involvement with the client’s employees. While the client company continues to exercise control over the activities of its employees, the PEO assumes responsibility of tax payments and insurance coverage.

With the help of experienced and knowledgeable professionals employed by a PEO, the client company saves much time and effort that might otherwise be spent in taking care of HR responsibilities such as administering employee benefits and preparing payroll. It also ensures the company’s regulatory compliance and reduces the risk of criminal penalty by ensuring there isn’t any overlooked legal liability or obligation to employees. The relationship with a PEO or Professional Employer Organization is in many ways an indispensable partnership for a growing company.