Small business optimized: Compass Accounting CPA

Compass Accounting CPA is a Chartered Professional Accountant firm, based in Winnipeg, that serves other small businesses all throughout Canada.

Karen Hallson-Kundel (CPA, CGA CBV) has held senior finance roles in manufacturing, agri-business, and venture capital. Even though Karen has a physical location for her business, she has been using cloud-based tech since the beginning of her practice. She says that because simple things are now automated, she and her team can focus on helping entrepreneurs achieve their goals.

Compass Accounting serves technology companies, social media influencers, designers, creatives, e-commerce businesses, and professional services.

As a Chartered Business Valuator, Karen is trained to optimize performance and value. The apps and automation Karen uses at Compass Accounting allow small businesses to expand and “redirect that time and budget to doing things that can add real value to their business.”

Additionally, by offering a monthly value-based price – a difference from other traditional bookkeeping and accounting firms – she helps small business budget their bookkeeping and consultancy accordingly.

“Usually they come to us when they’re growing and things – that they used to do – aren’t working anymore.”

Automation for small business

Karen and the Compass team strive for 70 to 80% automation in all their small business clients’ bookkeeping. Small businesses are driven more by cash flow and automating the majority of the routine tasks empowers her clients to do most of the bookkeeping themselves.

In this way, automation allows Karen and the entrepreneurs to look at the bigger picture of their business and grow.

“Cloud accounting is very hands-on,” says Karen. Automation with applications, like Xero and Rotessa, takes all the things that you wouldn’t talk about anyway and frees up time to have a conversation about your business performance.

“You can have a conversation about the challenges you are facing and maybe how you can improve the output of your accounting system to get better information, to help you make faster decisions, and better quality decisions. We are talking to our clients all the time!”