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Join us today to meet Olivia, a bookkeeper at KPMG Spark. At KPMG Spark, our automated bookkeeping software is backed up by a team of real bookkeepers. They work behind the scenes handling all your day-to-day bookkeeping tasks. Clients can contact them with any questions they may have. Today we are getting to know Olivia, one of our bookkeepers at KPMG Spark.

Q: Olivia, could you tell us a little about yourself?

A: I’m originally from Connecticut, but I live in Utah now. I’m a graduate student at Utah Valley University. I’m also a huge dog person, I love the beach, and I wish I had more time to paddleboard as well as play and watch sports like basketball and soccer!

Q: Why do you like working for KPMG Spark?

A: KPMG Spark is one of the best companies I have ever worked for. We are able to use resources from one of the largest accounting firms in the world, KPMG, while also maintaining our start-up culture. Employees regularly get together and go on hikes before work or head over to the pickleball court after. We all work extra hard to build meaningful professional relationships with our clients from all around the country. Overall, I just enjoy working for a company that cares.

Q: What are some common questions you get asked by clients, and how do you answer them?

A: How often should I check on my books? I tell all of my clients that we should communicate regularly and review books monthly. Every month I send my clients a list of outstanding items we need to take care of to get the books up to date. That way we will prevent a lot of catch-up at the end of the year or right before tax deadlines. 

Obviously, financial statements are important for tax purposes, but what else can I get out of them? If you keep your books up to date, you can pull an Income Statement or Balance Sheet at any time with any date range using the KPMG Spark software. The Income Statement will show you how much money you have made and how much you have spent over a certain period. Your Balance Sheet shows what you have at a certain moment in time. You’ll be able to see your assets like cash and equipment. You’ll also be able to see your loan balances in the liabilities section and then finally, your equity. Your financial statements will help you make important business decisions.

Q: Is there one piece of bookkeeping advice you would give to everyone?

A: Invest time and effort into your bookkeeping so you can keep your books up to date! If you get behind, it takes a long time to catch up and you’re not going to want to do it. Bookkeeping can make or break a company. You should be checking on how your company is doing financially regularly. You don’t want to run out of cash or forget about a loan. If you keep your books up to date, you can send financials to your tax CPA quickly and never miss a deadline. And then of course, if accounting is confusing or frustrating for you, let us help!

The views and opinions expressed herein are those of the author and do not necessarily represent the views and opinions of KPMG LLP.

This blog article is not intended to address or provide advice concerning the specific circumstances of any particular individual or entity and does not constitute an endorsement of any entity or its products or services.

Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230. The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.

Alexandra OjalvoDecember 8, 2021Posted In: Business Tips

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