KPMG Spark’s online accounting offers growing businesses a robust set of features. Spark is known for its powerful, automated bookkeeping; however, we also offer many other features, depending on the plan you choose for your business.
KPMG Spark records revenues and expenses as they happen. Spark makes cash-basis accounting simple and in real-time—recording transactions as they clear your financial accounts.
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 always have very timely financial information, allowing you to make better financial decisions.
Your financial account activity is reconciled within hours after it occurs. This real-time reconciliation means you don't have to wait days or weeks to ensure that your financial information is up-to-date and can make better, timelier business decisions.
You can create KPMG Spark accounts for as many employees or independent advisors as you need. And you can set the access permissions for each user's level —providing you with greater flexibility, security and peace of mind.
You can securely and easily store your receipts and other relevant financial documents on the KPMG Spark platform for easy retrieval when you need them (including audit support). Receipts also can be linked to individual transactions for easy identification.
The KPMG Spark user interface makes it quick and easy to pull financial reports for any reporting period for your business—from income statements to balance sheets, and more. You don't need to spend time digging through a complicated software program to get the financial information you need.
Your KPMG Spark bookkeeper can answer questions through the communication method of your choice—whether text messaging, video conferencing, email or phone. You decide the most convenient way to communicate.
Your KPMG Spark team includes a dedicated bookkeeper, account lead, quality assurance rep and CPA (for tax clients). This allows you to build direct and ongoing relationships with your Spark team and gives you a central point of contact for any questions or needs you have. Link
KPMG Spark allows you to individually track revenue and expenses for multiple projects or business divisions. This allows for greater visibility into the financial results of each one, so you don't have to spend time pulling numbers from your company's financial information. How many projects you can track separately depends on the plan you have: Essential (up to 2); Professional (up to 4); Premium (up to 6); Elite (more than 6).
Each individual user of KPMG Spark can have their own account as an owner, manager, or member and you can set access permissions to Viewer, Editor, or Owner. This provides greater security and control, because you're only giving people the level of access and control they need for their role.
You can create customized revenue, expense and balance sheet tracking based on your company's needs and goals—providing greater visibility into your financial information and allowing you to make more informed decisions. For example, you can track marketing spend by product line.
Your KPMG Spark bookkeeper can prepare you a cash-flow statement for your business on a monthly basis, or as needed. This allows you to stay up-to-date on your company's cash position and make better decisions. (And thanks to the real-time bookkeeping that KPMG Spark provides, your cash-flow statement will always be up-to-date.)
The KPMG Spark platform allows you to create and send out invoices—meaning they are automatically integrated with your bookkeeping. Moreover, your KPMG Spark bookkeeper can also handle invoicing on your company's behalf—saving you and your employees time. All you have to do is log into the KPMG Spark platform and review them.
The KPMG Spark platform integrates with many popular electronic payments tools—such as Bill.com—allowing you to schedule payments through the platform and feed that information in your bookkeeping records. Moreover, your KPMG Spark bookkeeper can schedule payments on your behalf—which you approve for payment.
For those companies that record revenue and appropriate costs when they are earned, KPMG Spark will prepare adjusting entries so your financials are prepared on the accrual basis of accounting.
Your KPMG Spark bookkeeper can create customized financial reports (whether forecasts or budget statements) based on your company's specific needs. This saves you the time of having to figure out how to create them yourself and gives you the ability to get whatever financial insights you need at a particular time or for a particular purpose.
You can get consolidated reporting for multiple projects or business divisions—so you can get a more holistic view of their performance together. This provides you with the flexibility to use KPMG Spark to view financial information of multiple projects in one set of financial reports.
The rise of technology has changed the way we do business forever. As your firm looks to increase profitability and maintain growth, Outsourced Bookkeeping is the answer.
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No. Because Spark monitors your accounts and spending in real-time, there is no need to do monthly reconciliation. More time for you run your business or kick up your feet and drink a delicious beverage!
Online accounting, also known as “cloud accounting” is a new way of doing your books. You connect your bank accounts, spending accounts (credit card, Paypal, etc.), and we automagically, in real-time, do your books. This saves you time that you can use to focus on running your business, or perhaps even kicking your feet up every once in a while.
Yes! When you sign up with Spark, you get a dedicated accountant who is the point person, on your team. You can communicate with them via email, text, phone, or through the Spark software. Whatever works best for you.
Spark is meant to save you, your bookkeeper, and your accountant time and money. So the simple answer is “no.” Using Spark will free you up to spend time thinking more strategically about your finances, instead of being in the weeds of the books.
Most users are able to complete the account connection process in 15 to 30 minutes. Connection times can depend on various factors, including: number of accounts, which financial institutions you use, and if you have online login credentials to those institutions readily available.
Spark is an accounting platform that can accept imports in the form of Excel CSVs, which tends to make for an easy transition. Your dedicated accountant will make sure all data you provide to them is entered into the system, taking the transition burden off your shoulders. If you decide to move to another system in the future, Spark can export data into Excel CSV.