KPMG Sells Its Spark Business to Accounting Fintech Decimal

This website is using a security service to protect itself from online attacks. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. That means being able to run your business, pay bills, and invoice clients everywhere kpmg spark you go. No more waiting to get back to the office to keep your business moving forward. Decimal started inside a top 100 accounting firm, so we have all the accounting chops we need. Our background as entrepreneurs means we know what numbers are actually meaningful for your business.

The company said at the time that it would use the funds to accelerate growth and platform development. KPMG US launched Spark in December 2018 as a product to automate and digitize tax services for small businesses with under $50 million in annual revenue. KPMG Spark manages everything to do with accounting, tax preparation, and payroll. That all starts with the real-time accounting dashboard, which you’ll be presented with whenever you log into Spark. 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. If you encounter any problem with your service after signing up, KPMG might offer you a refund.

Automatic Tax Filing

Not only do we participate in purposeful and impactful work every day, but the people at KPMG are encouraged to give to causes they are passionate about in their communities. Please provide two examples of how you have done “work that matters” throughout your high school journey (CEGEP for Quebec). © 2024 Copyright owned by one or more of the KPMG International entities. We blend tax transformation, technology, and technical and operational skills, delivering decades of experience in leadership roles at complex multinational organizations. The move follows a June 2022 seed funding round in which Decimal raised $9.2 million.

That’s because WePay charges a fee of 2.9% plus $0.55 for each invoice paid. KPMG Spark can help you take your invoicing to the next level with a standard template to use across your business. Invoices can be generated in under a minute which, if you have to charge numerous clients regularly, could potentially save your company a huge amount of time and money.

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The platform offers a combination of accounts payable and accounts receivable technology and also offers software partnerships for Certified Public Accounts (CPA) firms. The acquisition of Spark gets Decimal one step closer to its goal of solving accounting operations for SMBs. For KPMG, the transaction will allow the firm to sharpen its focus on its core business and suite of services. Decimal, an Indianapolis-headquartered outsourced accounting services and solutions provider, has acquired the cloud-based bookkeeping service and select other assets of KPMG Spark. When it comes to managing your bookkeeping and payroll, most solutions involve using software and hiring a separate team of bookkeepers and accountants to tie it altogether. With KPMG Spark, you get an all-in-one solution comprising bookkeeping technology on the one hand and a dedicated team of bookkeepers and accountants on the other.

It also expands the company’s small-business footprint while adding key talent to the growing Decimal team. 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. Through our teamwork with Junior Achievement, KPMG in Canada is a National Supporting Collaborator of World of Choices (WOC) Program with a goal of impacting 5,000 to 7,500 12–17-year-old students annually.