HR Services an Accounting Firm Can Offer
An accounting firm’s HR services include payroll processing, employee onboarding, and compliance management. They help streamline workforce operations while ensuring legal and financial accuracy.
1. Payroll Processing & Compliance
- Salary & Wage Calculation – Processing payroll, including deductions for taxes, benefits, and overtime.
- Payroll Tax Filings – Ensuring payroll taxes (e.g., income tax, Social Security, and Medicare in the U.S.) are filed correctly and on time.
- Direct Deposit Management – Setting up electronic payments for employees.
- Compliance with Labor Laws – Ensuring compliance with local labor laws regarding minimum wage, overtime, and deductions.
- Payroll Audits – Verifying payroll accuracy to prevent fraud or miscalculations.
2. Employee Benefits Administration
- Managing Health Insurance & Retirement Plans – Assisting businesses in setting up and managing employee benefits.
- Workers’ Compensation Administration – Ensuring compliance with workers’ compensation insurance.
- Paid Leave & Vacation Tracking – Managing employee leave policies and tracking time off.
3. Recruitment & Hiring Assistance
- Job Posting & Candidate Screening – Helping businesses find and vet potential hires.
- Background Checks – Conducting criminal record checks, credit checks, and employment history verification.
- Onboarding Support – Assisting with employee documentation, training schedules, and initial payroll setup.
4. HR Compliance & Legal Support
- Employment Contracts & Policies – Drafting and reviewing employment agreements, employee handbooks, and workplace policies.
- Labor Law Compliance – Ensuring compliance with employment laws (e.g., FLSA in the U.S., ESA in Canada).
- EEO & Anti-Discrimination Policies – Advising businesses on diversity, inclusion, and equal opportunity employment regulations.
5. HR & Payroll Technology Implementation
- HR Software Setup – Implementing and managing HR and payroll software like Gusto, ADP, QuickBooks Payroll, and Xero Payroll.
- Time Tracking & Attendance Systems – Setting up biometric or software-based attendance tracking.
6. Employee Performance Management
- KPI & Performance Reviews – Developing key performance indicators (KPIs) and tracking employee progress.
- Compensation & Incentive Planning – Helping businesses set up salary structures, bonuses, and performance-based incentives.
- Training & Development – Identifying employee skill gaps and recommending professional development programs.
7. HR Audits & Risk Management
- HR Process Audits – Reviewing employee records, payroll systems, and compliance documentation.
- Workplace Safety & OSHA Compliance – Ensuring businesses meet workplace safety regulations.
- Dispute Resolution & Employee Relations – Helping resolve workplace conflicts and advising on terminations to avoid legal risks.
Why Should an Accounting Firm Offer HR Services?
- ✅ Additional Revenue Stream – Expands service offerings to existing clients.
- ✅ Enhances Client Retention – Provides an all-in-one solution for finance, tax, and HR needs.
- ✅ Leverages Accounting Expertise – Payroll and compliance naturally align with an accounting firm’s core services.
- ✅ Competitive Edge – Differentiates the firm from competitors that only offer traditional accounting and tax services.
