A company might also look to outsource accounting tasks to improve the operational processes that provide the needed financial visibility to make more informed business decisions. KPMG Spark is a software-enabled bookkeeping and accounting service for small and medium businesses. Its proprietary, cloud-based bookkeeping technology aggregates data from your connected accounts and displays it visually on your dashboard.

  • The acquisition broadens Decimal’s suite of services and solutions.
  • No more waiting to get back to the office to keep your business moving forward.
  • Its proprietary, cloud-based bookkeeping technology aggregates data from your connected accounts and displays it visually on your dashboard.
  • That’s because WePay charges a fee of 2.9% plus $0.55 for each invoice paid.
  • YELL Canada is Canada’s first high school entrepreneurship course eligible for university credit.
  • Simply choose a bank/card, select the financial institution, then enter your username and password to give Spark read-only access to your data.

Accounting FinTech company Decimal has acquired assets of KPMG-owned KPMG Spark. Whether it’s tax filings, audit support, investor reporting, or anything else that comes your way, you’ll have the documentation you need. With Decimal’s operational approach and daily focus, you will have confidence in your books. Working on your books daily allows us to stay on top of the reconciliation process and drive accurate and up-to-date financials.

How KPMG Spark Works

ABEEL is a not-for-profit that enables youths to share their vision for a world that is more inclusive of the Black experience, ultimately helping in building a better, safer, and more inclusive world. KPMG in Canada collaborates with ABEEL for our Black high school internship program, which provides each individual with a scholarship and paid internship at KPMG. ICON Talent Partners is a not-for-profit talent development organization dedicated to educating, training, and mentoring top diverse talent for high-impact sectors, where they are often under-represented. KPMG collaborates with ICON on our Black high school internship program, which provides each individual with a scholarship and paid internship at KPMG. KPMG in Canada employees are involved in the YELL Venture Challenge as mentors and judges, attend classroom speaking engagements across the country, and lead office tours for secondary school students interested in learning more about life at our firm. With KPMG Spark, you can access your account to view or export real-time data at any time.

Gain the full advantage of a team that covers bookkeeping, process improvement, technology optimization, and training. We have you covered at a fraction of the cost if you were to recruit and hire several people for these roles. We collaborate with you to improve the overall bookkeeping process and provide you with up-to-date visibility on your books. Don’t wait until the end of the month to see where your business stands.

“At KPMG Tax, our strategy is laser-focused on meeting the evolving needs of our core client segment and delivering an innovative and differentiated experience,” said Rema Serafi, national managing partner of tax at KPMG, in a statement. Decimal, a fintech company that handles bookkeeping and accounting operations for small and midsized businesses, has acquired the https://personal-accounting.org/kpmg-spark-software-reviews-ratings-2023/ cloud-based bookkeeping service and related assets from KPMG LLP. There are many cost advantages to outsourcing accounting work; however, the reasons to choose an outsourced accounting approach don’t limit themselves to a beneficial cost structure. Companies will choose to outsource accounting to have their full-time employees focus on more strategic work and gain the expertise of accountants that understand the nuances of their industry and the ever-changing landscape of accounting rules.

KPMG Sells Its Spark Business to Accounting Fintech Decimal

The purpose of this program is to provide a platform for the advancement of Black secondary school students nationwide and empower them in realizing their full potential through exposure to opportunities at KPMG that align with their aspirations. KPMG is invested in positively impacting the professional growth of Black youth through opportunities at KPMG, and we know that their diverse perspectives and contributions benefit the Firm and drive our business forward. With an easy-to-use invoicing system that enables you to automate invoice creation and payment collection, KPMG Spark is an awesome platform for small businesses to consider using. If you aren’t ready to hire a full time bookkeeper, this could be a good tool as you’ll get access to real accountancy expertise without the expense of hiring a full-time employee. Besides those invoicing fees, you’ll need to pay a monthly subscription to use KPMG Spark and prices vary based on the number of accounts you need bookkeeping for.

KPMG Spark App

This rises to $362 for 4 to 6 accounts, and $454 for up to 10 bookkeeping accounts. For more on how the KPMG Spark suite of services can work for growing businesses, click here. Accounting Today is a leading provider of online business news for the accounting community, offering breaking news, in-depth features, and a host of resources and services. Alternatively, your clients will have the option to submit payment directly through Spark using WePay, a California-based online payment provider owned by JPMorgan Chase. WePay is best known for its partnerships with crowdfunding sites like GoFundMe.

Decimal acquires KPMG Spark

“KPMG Spark reflects KPMG’s commitment to bringing innovative solutions to an expanding range of clients so we can help them drive growth, gain efficiencies and create greater value.” The acquisition expands Decimal’s services and products for small businesses while adding key talent to its team. Through the acquisition, Decimal will be able to provide a more innovative bookkeeping platform to a broader set of small business owners.

Consumer Technology Overview

“The KPMG Spark solutions are designed to give business owners the tools they need to gain back the time they are spending on finance management, so they can pursue their passions and grow their businesses.” Traditionally a business would need to hire someone to handle all the accounting activities like reconciliation, bill pay, payroll, and more. Instead of leaning on a full-time employee, the bulk of the work is handled by a third party so that the internal finance team can focus on other initiatives instead of the mundane bookkeeping tasks. With repetitive tasks being handled at a more cost-effective rate, companies can shift their focus to more strategic initiatives.

Decimal’s Outsourced Bookkeeping Services

Within the billing section, you’ll be able to quickly enter key information required to generate a new invoice. Meanwhile, to the right of the dashboard, you’ll find shortcuts for contacting your bookkeeper and reminders about any urgent accounting tasks to complete. However, given that the platform can perform many of the same invoicing, payroll, and accountancy duties you’d normally have to hire a professional to carry out, its prices are quite fair.