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3 Reasons for CPA and PEO Partnerships

October 9, 2019

 

CPAs and PEOs

Image Source: Adobe Stock

It’s in everyone’s best interest to save time and money, right? Well, when it comes to Certified Public Accountants (CPAs) and their clients, saving both time and money is important. Professional Employer Organizations (PEOs) can often be the perfect solution for CPAs looking to satisfy their clients’ business needs without having to waste time or resources. (AccessPoint is one of the few ESAC accredited PEOs in Michigan)

CPAs that recommend AccessPoint to their clients can do so for a multitude of reasons, all of which save time and money for not only themselves but their clients also. When it comes to partnering with AccessPoint, there are many things to consider.

Client Success

This reason is the foundational premise upon which many PEOs are built upon. AccessPoint eliminates clients’ time spent on laborious HR functions, therefore giving them more time to focus on strategic aspects of their business. A CPA that recommends a good PEO will save clients time and gain customer loyalty along the way.

Leave it to the Professionals

Let’s face it- CPAs are good at finance. Where CPA professionals excel in providing financial and managerial advice to their clients, they may not have the time and/or resources to be experts in specific fields, especially within HR. This involves complexities within various backend processes of a business, including compliance, risk management, workers’ compensation, payroll, tax administration, wage garnishments, and so on. Our team is also well-versed in employment law and best practices, which can differ depending on each state and type of client involved. Deflecting clients’ questions to a PEO will optimize everyone’s time.

Liability!

Who wants to be held accountable for something they don’t understand? CPAs that recommend AccessPoint services to clients can handoff unwanted liability and risks that our business model is used to handling. PEO-Client relationships hold the former responsible for proper reporting when it comes to things like ACA, ADA, COBRA, EEOC, ERISA, FLSA, IRCA, and NLRB, to name a few. AccessPoint will even assume the burden of proof when it comes to employee compliance requirements.

To sum up

By partnering with AccessPoint, CPAs can focus on providing reliable money management and advisory services without worrying about clients’ errant HR issues and questions (and also receive mutual business referrals in return!). Over time, this partnership can and will save time and resources, which allows both you and your clients to focus more on day to day business.

INSIGHT WRITTEN BY:
Ben Waring