{"id":6175,"date":"2020-03-05T14:49:29","date_gmt":"2020-03-05T14:49:29","guid":{"rendered":"https:\/\/www.accountex.co.uk\/insight\/?p=6175"},"modified":"2020-03-05T15:35:01","modified_gmt":"2020-03-05T15:35:01","slug":"ai-innovations-for-accountants","status":"publish","type":"post","link":"https:\/\/www.accountex.co.uk\/insight\/2020\/03\/05\/ai-innovations-for-accountants\/","title":{"rendered":"AI innovations to help accounting professionals thrive"},"content":{"rendered":"

Intuit QuickBooks is unveiling some key Al and machine learning-powered product updates. The software group says the developments will help accountants and bookkeepers to scale and grow.<\/p>\n

Here’s a rundown of what’s here already and what’s on the horizon.<\/p>\n

Up and running is the ‘Business Performance Overview’.<\/p>\n

Client’s data<\/h3>\n

The ‘Business Performance’<\/strong> tab in QuickBooks<\/a><\/strong> ‘Online Accountant’ automatically takes a client\u2019s data. It then highlights what is needed \u2014 key figures, useful indicators, actionable items and more. It displays the info on one simple, visually driven dashboard.<\/p>\n

The dashboard can easily be exported to share with a client<\/a><\/strong> and used to spark conversations and strategic recommendations.<\/p>\n

Safe in the knowledge they are based on the financial health of a business<\/a><\/strong>, as well as how it\u2019s performing compared to other similar businesses.<\/p>\n

Shaun Shirazian, QB’s UK product leader, says: “At QuickBooks we focus on the biggest problems faced by accounting professionals.<\/p>\n

Biggest problems<\/h3>\n

“We then look at how we can leverage artificial intelligence, automation and the power of the many small businesses in our ecosystem to help every one of our partners and their clients. We\u2019re proud of these new innovations but want to hear feedback.<\/p>\n

“We\u2019d love our partners to check out our spring release web page and tell us what you like, what you don\u2019t and most importantly, what you want to see next. We build these experiences, but it\u2019s our customers that shape them.”<\/p>\n

For the spring product release page, please go here<\/a><\/strong><\/p>\n

Here’s what’s on the horizon…<\/strong><\/p>\n

Optimisation Centre:<\/strong> The new ‘Optimisation Centre’ in QuickBooks ‘Online Accountant’ gives accountants and bookkeepers an objective measure of how effectively they\u2019ve set up each client through an efficiency score, plus concrete recommendations to improve efficiency moving forward.<\/p>\n

Fully automated<\/h3>\n

This works by scanning all QuickBooks transactions and identifying what percentage are \u201chighly efficient\u201d \u2014 meaning the transactions are fully automated from recording to categorization and reconciliation.<\/p>\n

The efficiency score breaks down into three key areas: bank accounts, expense tracking, and income tracking, with each section offering specifics on what contributes to the score and what QuickBooks features can be used to increase efficiency.<\/p>\n

Duplicate entries<\/h3>\n

Bookkeeping Review:<\/strong> This new QuickBooks ‘Online Accountant’ feature automatically finds some of the most common bookkeeping errors, such as expenses with no vendor information and duplicate entries.<\/p>\n

Similar to ‘SmartScan’ technology in QuickBooks Online, it brings the errors to one place for quick and easy resolution \u2014 giving accounting professionals high-quality books in a fraction of the time.<\/p>\n

By automatically scanning QuickBooks to surface mistakes and streamline client collaboration, ‘Bookkeeping Review’ helps keep client books complete and accurate.<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Intuit QuickBooks is unveiling some key Al and machine learning-powered product updates. The software group says the developments will help accountants and bookkeepers to scale and grow. Here’s a rundown of what’s here already and what’s on the horizon. Up and running is the ‘Business Performance Overview’. Client’s data The ‘Business Performance’ tab in QuickBooks […]<\/p>\n","protected":false},"author":3,"featured_media":6178,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[444,4,441],"tags":[],"class_list":{"0":"post-6175","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"category-news","9":"category-tech"},"yoast_head":"\nAI innovations to help accounting professionals thrive - Accounting Insight News<\/title>\n<meta name=\"description\" content=\"AI powered product updates that will enable accountants and bookkeepers to continue to scale, grow and remain ahead of their competition\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.accountex.co.uk\/insight\/2020\/03\/05\/ai-innovations-for-accountants\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AI innovations to help accounting professionals thrive - 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