Daily Revenue, and Expense Categorization

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.

Daily Revenue, and Expense Categorization Overview

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.

Benefits to small and medium-sized businesses (SMBs)

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.

Streamlined process

When your expenses and revenue are tracked and categorized with your KPMG Spark account, you have more time to focus on your own business.

Categorization taken off your hands

No need to start compiling lists of categories for your expenses and revenue. The KPMG Spark managed accounting solution takes that off your plate.

Accurate, real-time financial information

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.

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

This 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.

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Daily Revenue, and Expense Categorization FAQs

What are the business expense categories?

Whenever you buy something for your business - whether that is supplies, utilities, advertising, etc. - that is a business expense.

What are revenue categories?

Revenue can come from multiple sources for small businesses. Revenue categories help keep them organized and ready to access when you need them.

What are the expense categories?

Expense categories are important because they can help identify tax savings which can save your business money.

What is revenue categorization?

When revenue categorization is correctly implemented, less time and effort is required to make adjustments to your information when tax season comes around.

What is expense categorization?

The categorization of business expenses allows you to be more organized and have more accurate books so you can file taxes correctly.

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