Incoming revenue and expenses in your accounts tracked through KPMG Spark are categorized daily using machine learning and verified by your bookkeeper. This means you have very timely financial information, allowing you to make better financial decisions.
With the KPMG Spark managed accounting solution, you do not need to worry about how to categorize expenses. Our systems are equipped to understand your expenses and put them into the correct expense categories. All of this expense categorization is then verified by your individual bookkeeper to help reduce errors.
Our bookkeepers and machine learning system also work seamlessly to categorize revenue correctly and efficiently. Your bookkeepers know how to categorize income and are able to do so in real-time so your financial information is timely and accurate for you to be able to make better decisions for your business.
The KPMG Spark system helps you with the processes of how to categorize expenses, and how to categorize income so you can focus on running your business. Daily Revenue Categorization and Expense Categorization helps SMBs make better financial decisions.
When your expenses and revenue are tracked and categorized with your KPMG Spark account, you have more time to focus on your own business.
No need to start compiling lists of categories for your expenses and revenue. The KPMG Spark managed accounting solution takes that off your plate.
Our advanced machine learning technology works quickly so your financial information is up to date on your KPMG Spark dashboard. Your KPMG Spark bookkeeper is available to answer any questions you may have.
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Whenever you buy something for your business - whether that is supplies, utilities, advertising, etc. - that is a business expense.
Revenue can come from multiple sources for small businesses. Revenue categories help keep them organized and ready to access when you need them.
Expense categories are important because they can help identify tax savings which can save your business money.
When revenue categorization is correctly implemented, less time and effort is required to make adjustments to your information when tax season comes around.
The categorization of business expenses allows you to be more organized and have more accurate books so you can file taxes correctly.