KPMG In Canada Debuts Cloud Accounting Service For SMBs

KPMG in Canada is rolling out a new cloud accounting offering called Finance Plus, which is meant for those who own small to medium-sized businesses (SMBs) who don’t have the time or in-house expertise to handle their bookkeeping and financial reporting, according to a Monday (May 17) announcement.

Mary Jo Fedy, national leader for KPMG Enterprise, said in the announcement that Finance Plus comes with every benefit of controlling your finances safely in the cloud in addition to the correctness and dependability of a KPMG professional.

“Each Finance Plus customer is assigned a highly trained and experienced KPMG virtual accountant, backed by KPMG’s professional network of trusted business advisors,” Fedy said in the announcement.

Finance Plus provides an avenue to outsource bookkeeping and financial reporting, which a live KPMG professional supervises.

It offers services such as digitized bookkeeping, daily transactions, payroll management, accounts payable, accounts receivable, management reporting, budgeting, bank and credit card reconciliation, and GST/HST and provincial sales tax, according to the announcement.

Peter Gribilas, partner, KPMG in Canada, said that Finance Plus offers a tailored online bookkeeping service with each of the cloud’s advantages.

“When a business outsources its accounting function to KPMG, we put our people and technology-enabled services to work, freeing up business owners so they can stay laser focused on their business and make more informed financial decisions,” Gribilas said in the announcement.

And, at tax time, the Finance Plus workforce will interface straight with a client’s local KPMG location to get year-end financial statement ready and finish tax returns, according to the announcement.

As reported last year, Canada-based financial institution BMO is rolling out a new support system for the nation’s small companies during the pandemic, through assistance from a dedicated banking workforce.

According to a previous press release, the BMO team will concentrate on urban and rural centers and will work with new innovative systems such as an onboarding platform for small businesses called BMO Business Xpress.