save time and reduce errors with automated transaction mapping.
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quick tech talk
with steve yoss
cpe today
artificial intelligence is a game-changing technology. its ability to take on tedious processes allows accountants to focus on higher-value work. a prime example is bank feeds in applications like quickbooks, xero, and other accounting platforms.
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bank feeds already streamline workflows by pulling transaction data directly into accounting systems, but ai takes it further. it can automatically match transactions to existing entries, intelligently categorize expenses, and continuously improve its accuracy based on user input and patterns from other businesses.
for instance, if it sees “arco” or “76,” it knows how to categorize it under “truck and auto.” if it sees “taco bell” or “in-n-out burger,” it places it in “meals and entertainment.” this adaptive learning eliminates much of the guesswork and manual effort associated with bookkeeping.
the benefits of incorporating ai into daily workflows are clear: faster data entry, improved accuracy, and significant time savings. businesses can minimize errors and focus on strategic, value-driven activities by reducing human involvement in repetitive tasks.
if you haven’t used bank feeds and automated transaction mapping yet, you really should. it will save you a tremendous amount of time.