3 Reasons Accountants Love to Partner with a PEO
Partnering with a PEO helps accountants to streamline processes, reduce costs and improve efficiency, this benefits both accountants and their clients.
Ariela is the Editorial Content Manager at Justworks. With a background in B2B marketing, she helps to execute, oversee, and drive the editorial strategy.
In the world of accounting, professionals are constantly seeking ways to streamline processes, reduce costs, and improve efficiency. PEOs offer a wide range of services that can significantly benefit both accountants and their business as a whole.
Let's explore three key reasons why accountants love partnering with PEOs.
What is a PEO?
A PEO partners with your business to handle HR functions and employer responsibilities. It’s a managed service that allows businesses to outsource HR functions, such as payroll, benefits, and compliance.
By outsourcing these functions to a PEO, businesses can save time and money, while also improving efficiency and compliance. For accountants, PEOs can have a variety of benefits. Not only can they help you streamline the administrative functions of your own firm, but they can also offer valuable services for your small- to medium-sized business clients.
Reason 1: Enhanced Payroll and Payments
Managing payroll for small business clients can be time-consuming and complex, but by partnering with a PEO, accountants can offload the responsibility of payroll processing, tax filings, and compliance management. With third-party admin access, accountants can assist their clients with complex payroll tasks such as deductions, and benefits calculations.
“For the clients that we work with that do have contractors, they're easily able to pay right from the [Justworks] platform.That speaks to the flexibility that Justworks provides as a PEO because I know PEOs can be very stringent in certain things. That flexibility just helps a business run its day-to-day business.”
- Angela Yutangco, Managing Director of HR Services, Sayva
Additionally, PEOs offer time-saving HR management solutions. They help with tasks such as employee onboarding, benefits administration, and compliance with labor laws. With a PEO's support, accountants can provide their clients with expert guidance, ensuring legal compliance and fostering a positive work environment.
Reason 2: Cost Savings and Increased Efficiency
Businesses are continually searching for ways to reduce costs for their clients and increase profitability. By partnering with a PEO, accountants can achieve significant cost savings for their clients and improve operational efficiency. But how?
PEOs typically offer health benefits and insurance plans at lower rates. By partnering with a PEO, businesses can take advantage of group rates and better insurance premiums. Additionally, PEOs simplify the administrative burden associated with managing employee benefits by streamlining plan enrollment and claims processing.
PEOs also offer efficient tech-driven solutions, such as integrated payroll systems and employee self-service portals. By empowering your clients to engage with their platform, accountants can spend more time on their day-to-day rather than getting bogged down with admin and employee inquiries.
Reason 3: Compliance Support for Multi-State Teams
Staying up to date with ever-changing employment laws and regulations can be challenging for even the most seasoned accountants. PEOs provide access to HR experts who specialize in employment law, regulatory compliance, and risk management.
PEOs can also offer ongoing compliance support for multi-state teams by always being current and compliant with federal, state, and local labor laws.
“As a small business, non-compliance can be really expensive, so [Justworks] helps me stay compliant in multiple states where it’s very confusing… [Justworks] reduces your risk — state filings and unemployment insurance and workers’ comp, all of those things are taken care of for you.”
- Alex King, Controller, Social Media Examiner
By working with a PEO, accountants can mitigate the risks of non-compliance, avoid penalties, and maintain positive relationships with their clients.
Bonus Reason 4: Streamline Operations for Your Firm
From enhanced payroll and HR management to cost savings and increased efficiency, PEOs are valuable partners in the accounting world. With access to HR expertise and expert compliance support, accountants can streamline their operations and focus on what they do best – serving their customers.
Getting started with a PEO
So, if you're an accountant looking to streamline your operations and improve client service, partnering with a PEO might just be the game-changer you need.
Justworks PEO is a certified PEO (CPEO) with customers across the country. With our PEO, you and your clients get access to a variety of nationwide health insurance plans from top providers, plus access to fitness and wellness perks to take care of your team.
Our modern, tech-forward platform is intuitive and easy to navigate. Our full-service support team is available to both you and your clients, whenever and wherever, by phone, email, chat, and Slack. Pricing is transparent — view plans on our Pricing page.
If you’re shopping for a PEO, Justworks PEO may be a great fit. Learn more about our accountant partner program today!
Learn more with Justworks’ Resources
Scale your business and build your team — no matter which way it grows. Access the tools, perks, and resources to help you stay compliant and grow in all 50 states.
