Financial Management

When you choose to self-direct, you will choose a Financial Management Services (FMS) provider that will handles all payroll and administrative services for you. An FMS provider makes self-directing easier for you by:

• Setting you up as an employer. When you start in self-direction, the FMS will assist you, or your representative, with paperwork to become a legal employer to start hiring workers.
• Processing paperwork for your staff. When you find someone you want to hire, the FMS will process paperwork to set them up as your employee. The FMS will make sure the person is authorized to work in the United States and run a criminal background check.
• Processing payroll. The FMS will ensure your workers are paid on time and correctly.
• Processing timesheets or Electronic Visit Verification records of the hours your staff worked. Every two weeks, you an­d your staff will submit a record of the hours they worked to the FMS. The FMS will review these records and approve them for payment.
• Paying taxes. Employers must pay taxes for their workers. The FMS handles the taxes for you and your employees to make sure you are following all state and federal rules.
• Ensuring your spending is within budget. Your FMS will send you reports to make sure your spending is within your budget. If you are spending more than is in your budget, the FMS will let you know.
• Protecting you from liability. Your FMS will maintain a Workers’ Compensation policy on your behalf. This policy protects you from liability if your worker gets injured on the job.
• Answering questions. If you have questions about staff paperwork or payroll, you can contact the FMS. They will answer your questions or refer you to someone who can answer them.