KPMG Spark is an online bookkeeping service helping small to medium-sized businesses manage their day-to-day bookkeeping and finances.
The company has been in business since 2013. Their headquarters is based in Utah, where their operational staff work, and they have some bookkeeping staff based remotely.
About KPMG Spark
The company is headed up by Zach Olson, Managing Director, and Austin Miller, Director of Marketing. Their target customers are small to medium-sized businesses that have monthly expenses up to $250,000.
KPMG Spark say one of the things that separate them from their competitors is the proprietary software they use. They also offer separate pricing plans for cash and accrual accounting, and give every client a dedicated bookkeeper and assign an account manager.
How KPMG Spark Works
To get started, you can schedule a live demo to see their software in action or book a consultation call to discuss your bookkeeping requirements.
When you sign up for one of their plans, a member of their team will help you integrate your bank accounts into their software. You’ll also be introduced to the bookkeeper that’ll be handling your account.
Once you’re all set up, you’ll be able to update and categorize your transactions in real-time. From here, you can leave the day-to-day bookkeeping tasks to your bookkeeper. You can run reports yourself to check your financials at any time.
KPMG Spark handles all the day-to-day bookkeeping tasks any small to medium-sized businesses face. This includes:
- Recording expenses
- Tracking mileage
- Live bank data
- Tax preparation
- Invoicing and payments
You can rest assured that they are handling all aspects of the bookkeeping for your business. Meaning you can focus on other areas of your business.
Plans and Pricing
KPMG Spark is fairly flexible with their plans. The amount you pay per month depends on the number of bank accounts you have. As well as whether you’re operating on a cash or accrual basis, and any extra services you add on.
To give you an idea, here is the monthly cost for basic cash accounting for each of their pricing tiers:
- Starter – 1-5 bank accounts for $195 per month.
- Essential – 5-10 bank accounts for $295 per month.
- Enterprise – 10+ bank accounts for $395 per month.
The extra services you can add to each plan are:
- Tax Prep – $125 per month.
- Payroll Facilitation – $100 per month.
- KPMG Consulting – $1,000 per month.
So, for example, if you have 10+ bank accounts and want to include tax prep, payroll facilitation, and KPMG consulting, you’ll pay $1,620 per month.
There are no contracts, so you can change your plan or cancel at any time. And, as they point out, you can deduct accounting fees on your annual return, so that’s an extra little incentive.
KPMG Spark Alternatives
Bench offers a free trial so you can to try before you buy.
Have you worked with KPMG Spark? If so, please leave a review below to help others with their decision.