What AI Accounting Engine Covers
AI Accounting Engine allows you to:
- Read sales and expense invoices using OCR
- Prepare double-entry postings automatically
- Classify accounting transactions intelligently
- Reconcile bank statements automatically
- Match bank transactions to invoices, receipts, and bills
- Calculate foreign currency exchange gains and losses
- Generate recurring sales invoices with defined service periods
- Automate fixed asset depreciation and fixed asset notes
- Use the AI Account Agent to organise data, complete entries, and update accounts
- View a financial performance summary with key figures and ratios
Next-Gen AI Accountant (AI Account Agent – Beta)
The AI Account Agent works like an autonomous accountant directly inside the software.
Instead of only recording data, it is designed to:
- Analyse context across invoices, receipts, payments, and bank data
- Cross-reference information across multiple documents
- Apply accounting logic to make accounting decisions automatically
You can interact with the agent through chat. Upload files or provide instructions, and the agent will organise data, complete entries, detect issues, and post transactions into your accounting system without navigating manual accounting screens.
Automated Classification and Accounting Processing
AI Account automates the reading, classification, and posting of accounting data.
The system allows you to:
- Use OCR to read sales and expense invoices and capture key details
- Automatically prepare correct double-entry postings
- Match unpaid invoices and bills to bank statement transactions
- Auto-generate related receipt and payment entries
- Calculate foreign currency exchange gains and losses automatically
- Generate recurring sales invoices on a monthly, quarterly, half-yearly, or yearly basis
- Automatically generate depreciation entries for fixed assets
All classification and postings follow accounting rules consistently across transactions.
Reduced Manual Accounting Work
By automating classification, matching, and posting, the AI Accounting Engine reduces the need for manual accounting tasks.
This allows you to:
- Minimise repetitive data entry
- Reduce manual bank reconciliation work
- Avoid spreadsheet-based tracking
- Generate financial statements with minimal manual intervention
The system also produces a Financial Performance Summary that combines key figures and ratios into a clear snapshot of profitability, cash flow, and efficiency to support faster decision-making.
Frequently Asked Questions
What accounting tasks are automated by the AI Accounting Engine?
It automates invoice reading, transaction classification, bank reconciliation and matching, foreign exchange gain and loss calculations, recurring invoicing, fixed asset depreciation, and financial summaries.
How does the AI Account Agent interact with users?
You can chat with the agent, upload files, and provide instructions. The agent organises data, completes entries, and posts transactions automatically.
Does the AI Accounting Engine replace manual accounting review?
No. It automates processing and classification while still allowing users to review and control accounting outcomes.
Can it handle foreign currency transactions?
Yes. Exchange gains and losses are calculated and posted automatically when foreign currency transactions are entered.
Does it support recurring invoices and fixed assets?
Yes. Recurring sales invoices and fixed asset depreciation entries are generated automatically.