The Differences Between QuickBooks and Outsourcing Payroll to a PEO

by Tim AustinDecember 7, 2017 8:00 AM

QuickBooks software is the most widely-used accounting application for small businesses, according to Forbes. For decades, QuickBooks has been a popular option for small business owners and finance professionals to use on-premise, usually with one individual taking sole responsibility for accounting and payroll internally. More recently, QuickBooks has released a cloud-based version named QuickBooks Online, and along with it have come several new competitors in the online payroll and accounting software space.

While many of these platforms have similar features, relying on these accounting and payroll Software-as-a-Service (SaaS) applications also have many potential drawbacks for small business owners. The following are some of the things small business owners should take into consideration when choosing between a platform like QuickBooks or outsourcing these services.

Image of someone contacting an online payroll provider.


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Group Management Services Named a Certified Professional Employer Organization by IRS

by Matt SchoolcraftDecember 4, 2017 8:00 AM

Group Management Services announced today that they have been named a Certified Professional Employer Organization by the United States Internal Revenue Service.

The designation was created as a provision of the Small Business Efficiency Act in 2014. This makes the CPEO solely responsible for payroll taxes and penalties and assures clients that they are partnering with a financially responsible and stable organization. 

“We’ve completed this rigorous certification process with in depth financial reviews and audits of our business processes as well a thorough background check of our upper management,” said Mike Kahoe, President of GMS. “This shows our customers and prospects that the IRS is holding us to a certain standard, which helps legitimize our growing industry.”

Image of GMS, recently named a Certified Professional Employer Organization by the IRS.


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GMS News

Two Reasons Why Owners Avoid TPA Services (And Why They’re Wrong)

by Tim AustinNovember 8, 2017 8:00 AM

When it comes to finding the right health plan for your business, the key is to find an option that makes sense for your business. One route that a business can go is to invest in TPA services for a self-funded health plan, which offers several benefits that can help owners save money and mitigate their risk with proper planning and support. Self-funded insurance also allows businesses to avoid some of the increased regulations on healthcare, which is a big reason why more small and midsize employers are choosing to self-insure, according to the Society for Human Resource Management.

With all that in mind, self-funding sounds like an intriguing option, right? However, there are a pair of misconceptions about self-funding that either dwell in the past or are not that relevant to business owners. Here are two reasons why owners avoid self-funding, and how a TPA can dispel those arguments.

Image of a business owner considering self-funded health insurance through TPA services.


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Third Party Administration

HR Budget Planning: Key Components to Consider for Next Year

by Tim AustinNovember 1, 2017 8:00 AM

From payroll to benefits to recruitment, human resources is an important function that keeps a business running. And like any other business function, the management and implementation of these HR responsibilities all incur costs that you’ll need to factor into your budget as you plan for the new year.

Whether you’re basing your budget on last year’s expenditures or planning every budget item from scratch, it’s important to review your different HR needs, so you don’t come up short in the places where you need extra funds. The better you can understand these HR costs, the better you can plan what the next year will look like for your company. Done well, an HR budget will help to prevent over-hiring and understaffing and ensure you have the resources to keep your team engaged on the job. Here are some key HR components that you should consider when planning a yearly budget.

Image of money set aside for HR budgeting items for next year.


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Human Resources

What is a TPA?

by Tim AustinOctober 24, 2017 8:00 AM

Escalating costs of healthcare and benefits have led business owners across the country to seek out a solution that makes the most sense for their company. Of the many options out there, self-funded health insurance has become a realistic opportunity for many small businesses thanks to third-party administrators.

These organizations, also known as TPAs, allow business owners to take advantage of self-funding, which can provide a “greater level of flexibility that comes with being able to tailor the plan to their needs,” according to the Society for Human Resource Management. The self-funding process can be complicated, but a good TPA can simplify the process so that employers can reap the benefits of self-funded insurance without having to deal with the risks of managing it themselves.

Image of a third-party administrator for a small business.


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Third Party Administration

Group Management Services Announces New Chief Technology Officer Christian Tracey

by Matt SchoolcraftOctober 13, 2017 8:00 AM

GMS, a Professional Employer Organization headquartered in Richfield, Ohio, announced today that 20-year software and technology veteran Christian Tracey has joined the company as Chief Technology Officer.  

Tracey will play a key role in crafting GMS’ go-to market technology strategy, as well as leading the internal IT function, as the company embarks on the next phase of growth.



GMS News

Increased Scrutiny of Immigrant Labor

by Andrew SzczesniakOctober 10, 2017 8:00 AM

When the Trump Administration took office back in January, most people believed that they were going to focus on three things:

  1. The repeal and replacement of the Affordable Care Act
  2. Tax cuts
  3. Tightening the country’s borders as it pertained to immigration

We all know what happened with the repeal and replacement of the ACA. The Republicans have tried a couple of times, but simply do not have the votes to make it happen, even in their own party.

Anyone who has seen attempts at tax cuts over the last 30-plus years knows how challenging the passage of that can be.

That leaves immigration. There’s been a lot of squabbling about walls, travel bans, and the such, but some things seem to have gone under the radar.

Image of changes in immigration regulations for businesses.


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Human Resources

Recent Trends in HR Outsourcing

by Tim AustinOctober 5, 2017 8:00 AM

As the years go by, HR administration continues to evolve. The growing need for improved operational efficiency and compliance has led more business owners to turn to HR experts for help managing crucial business functions. 

This expansion has been so great that the Professional Employer Organization industry has nearly doubled to around $168 billion dollars in the past six-and-a-half years. The need for human resource outsourcing isn’t just a need for one or two different industries, as HR providers saw a 23 percent or greater increase in business from blue collar, white collar, and grey collar businesses. 

While businesses often turn to PEOs for help with benefits administration and risk management services, there are other additional HR functions and benefits that have become more popular in recent years. Two of the more intriguing recent trends in human resource outsourcing is a move toward investing in online payroll and workplaces wellness programs.

 Image of a workplace wellness program, a recent human resource outsourcing trend.


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Human Resources

What HR Functions Can a Small Business Outsource to a PEO?

by Tim AustinSeptember 29, 2017 8:00 AM

It’s difficult to run a small business without much support, which is why more employers are turning to human resource outsourcing. According to market research company Global Industry Analysts, Inc., the HR outsourcing market is projected to grow to nearly $54 billion by 2020 as business owners turn to other organizations for help managing important HR functions.

So why have so many businesses turned to HR outsourcing? Here are four big reasons:

  • Time savings
  • Improved compliance
  • Better recruitment and training capabilities
  • Cost savings

The benefits speak for themselves, so now it’s a matter of finding out exactly what business responsibilities you can outsource and which ones make the most sense for your business.

Image of a woman selecting human resource outsourcing options for his business.


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Human Resources

Four Reasons Why Small Businesses Outsource HR Functions

by Tim AustinSeptember 19, 2017 8:00 AM

As a business owner, you get used to making tough decisions every day. One critical question is whether you should handle every human resource function internally or if it’s in your business’ best interest to consider outsourcing. 

To insource or to outsource may not be as difficult of a question as you may think. Here are four reasons why it may make sense for your business to consider human resource outsourcing.

Image of a human resource outsourcing company helping a small business owner.


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Human Resources

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