by sandi leyva<\/i>
\nthe complete guide to marketing for tax & accounting firms<\/i><\/a><\/p>\nchatgpt has been in the news almost daily. it\u2019s the latest \u201chot\u201d technology. you might be wondering what\u2019s so great about it, i.e., what can it do for accountants?<\/p>\n
<\/p>\n
new course: <\/strong>are you looking for an accounting-specific course on chatgpt?\u00a0 we have one right here<\/a>!\u00a0<\/strong><\/p><\/blockquote>\nwhen we answer that question, we really need to answer a couple of questions. first, what can it not do, or what shouldn\u2019t we use it for? and second, what tasks are safe or low-risk that we can use it for to increase our productivity?<\/p>\n
more: <\/b>make the most of cpe conferences<\/a> | set bold new goals for the rest of the year<\/a> | generative ai: should you avoid it or adopt it?<\/a> | five ways to acquire more clients<\/a> | five stages of any business<\/a> | leverage your client list today<\/a> | need leads? try a quiz<\/a>
\n![\"goprocpa.com\"](\"https:\/\/cpatwpe.s3.amazonaws.com\/cpatrendlines\/wp-content\/uploads\/2016\/08\/yellow_key_clip_art-e1375897299811-36p-hi-1-e1603911598474.jpg\")
exclusively for pro members. <\/span><\/strong>log in here<\/a> or 2022世界杯足球排名 today<\/a>.<\/span><\/p><\/blockquote>\nfirst, we’ll look at what not<\/strong> to use chatgpt for and then we’ll look at what you should be using it for. last, we’ll examine two rules to follow when using chatgpt.
\n<\/p>\nwhat not to use chatgpt for<\/strong><\/p>\nthere are many, many things chatgpt can do. but that doesn\u2019t mean you should use it to do all those things. high-risk tasks such as asking it to generate legal contracts and engagement letters should be avoided at all costs.<\/p>\n
chatgpt is pretty terrible at writing biographies or even facts about people. it\u2019s also not good if you need up-to-date information as its database \u2013 as of this writing \u2013 was only current through september of 2021.<\/p>\n
for any tasks that need to be accurate, you will always want a trained expert to review the work. chatgpt can \u201challucinate,\u201d meaning it is not always very accurate. chatgpt was designed to be \u201ccreative\u201d in every sense of the word, so avoiding tasks that need precise, black-and-white answers makes sense.<\/p>\n
it\u2019s essential that you do not input any private confidential information, especially client data of any sort, into chatgpt. it is a public database. however, you can anonymize your data to get a task done. anything that you want to keep the copyright on, you should not ask chatgpt to write.<\/p>\n
chatgpt is also not very good at being an in-depth expert. if you ask it questions about anything that needs deep expertise, it likely won\u2019t be able to generate anything more than a superficial answer.<\/p>\n
chatgpt tends to be verbose. however, with the right instruction, or prompt, you can fix that.<\/p>\n
what to use chatgpt for
\n<\/strong><\/p>\nchatgpt is very good at generating initial drafts of things such as business forms. you can ask it to produce any type of form from a credit card authorization form to an employee performance review. you can then copy and paste it into your microsoft word document and edit it to customize it to your needs.<\/p>\n
it\u2019s also fairly good at generating checklists and procedures. the answer can be superficial, so you\u2019ll need to add your expertise as well as the quirks of your own firm, but it saves time by generating a first draft. most accountants i know dread having to write procedures, so this is a good tool to avoid the drudgery and get the task done quickly.<\/p>\n
chatgpt can write articles, social media posts, email replies, client letters, reports, test questions and quite a bit more. again, the first draft it generates will save you time. then, you can edit it to add the expertise you have and correct any errors the technology makes.<\/p>\n
beware of the terms of service of chatgpt: openai owns the copyright on anything that is generated from chatgpt. you\u2019ll want to edit it heavily, at the very least, if copyright is an issue. just remember to anonymize the data if you\u2019re working with private client information.<\/p>\n
you can ask chatgpt hundreds of questions and get an answer. for example, you can ask it to translate a document into another language, create a travel itinerary for you, come up with a gluten-free recipe for cookies, compare product features of a racing bicycle you plan to purchase, or make a playlist based on artists you provide.<\/p>\n
chatgpt can do accounting tasks as well. you can ask it to generate an amortization schedule, suggest a chart of accounts, code transactions, calculate depreciation, reconcile lists, manipulate spreadsheet data and report on budget-to-actual variances.<\/p>\n
two rules to follow
\n<\/strong><\/p>\nwhen using chatgpt, there are always at least two rules you\u2019ll want to honor.\u00a0 first, use chatgpt for only the low-risk tasks, and honor the boundaries your firm has in place for using chatgpt. and second, make sure you review every piece of information and run it by an expert because there is no guarantee that any of it is accurate.<\/p>\n
when used properly with training and following the rules of your firm, chatgpt can be an enormous productivity tool for accounting professionals.<\/p>\n","protected":false},"excerpt":{"rendered":"
the dawning of new technologies is usually daunting, but this is one we should all be excited to try.<\/strong>
\n![\"\"](\"\/\/www.g005e.com\/wp-content\/uploads\/2023\/08\/250_leyva_ai2_adobestock_589427987-2.jpg\")
<\/a>
\nby sandi leyva<\/i>
\nthe complete guide to marketing for tax & accounting firms<\/i><\/a><\/p>\n","protected":false},"author":1345,"featured_media":115365,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2327,3120,3002,2306,2295],"tags":[3445,3447,3477,120,629],"class_list":["post-115354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-innovation","category-pro-member-exclusive","category-special","category-tech-and-fintech","category-solo","tag-ai","tag-artificial-intelligence","tag-chatgpt","tag-tech","tag-technology"],"acf":[],"yoast_head":"\nwhat can chatgpt do for accounting professionals? 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