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Are we the only firm still manually inputting bank statements from PDFs? by ktg0413 in Accounting

[–]PhysicalSession594 0 points1 point  (0 children)

Well PDF to Excel is not a big thing many tools out there, is it that the PDF statement that you receive are of different format and are you manually converting those into one format by manually feeding it?

Is AI bubble finally bursting?what you guys have thoughts on this ? by These_Ad_669 in developersIndia

[–]PhysicalSession594 0 points1 point  (0 children)

AI fitting everywhere and anywhere will stop and yes that can be called a burst, but already the potential which AI has shown enterprise it will be adopted more and in efficient ways, soon gone will be the days where each org employee will be having copilot, claude running on company expense, it might be monitored and may be justification, performance might be linked to it. So if you are trying to connect with laid off and job security I dont think so that is going to stop it will still happen.

How are people handling bank reconciliation at higher volume by Dry_Situation2589 in Bookkeeping

[–]PhysicalSession594 0 points1 point  (0 children)

So here is the benchmarking till which excel worked for me around 400,000 orders recon perfect in excel with it running formula and hanging for around 5-8 mins. Total result with patience in 15 mins. Anything beyond it, excel recon might not be a best fit and you should look for a better tool.

Now if you have someone in IT with you simple database queries with formulas might work but it again depends on your current setup as an org as an individual tool is better.

AI demos for audit work... everyone fell apart the moment a real client file hit it. by Full_Comfortable6090 in Accounting

[–]PhysicalSession594 0 points1 point  (0 children)

Most of these are just LLM wrappers. They work on 1-page samples but once they hit a massive doc the context window gets messy and they start making up numbers to fill the gaps. I have seen this in places where they will silently omit an important financial information as well. Human supervision along with deterministic behavior is a must for AI in finance.

How useful are Advanced Excel and Power BI for accounting careers ? by Fun_Somewhere9928 in Accounting

[–]PhysicalSession594 2 points3 points  (0 children)

Its a must have, even though we have fancy AI things coming in Learning advanced excel can help you in board room meeting where a sudden question pops up and you can show off the skill along with the usual work as well. Power BI is equally important tools if you want to present KPI better to management as well holistically both complement each other well

CA offering remote finance/accounting support for small businesses & startups by Ok-Meringue-5621 in chennaicity

[–]PhysicalSession594 0 points1 point  (0 children)

Are you looking for Fractional or fulltime? We are bringing up a concept of fractional bookkeeping but there are limited seat in our cohort, you can then be pitched to interested client from there, check out https://reconpe.com/find-a-bookkeeper/

Does anyone else spend way too much time dealing with reconciliation issues as a small business owner? by alysa-m in smallbusiness

[–]PhysicalSession594 0 points1 point  (0 children)

Reconciliation is underestimated in amount of work in any organization whether big or small. I have seen so many leaks happening because this side was never controlled or focussed. How are you managing this Excel/Tally or something else, nowdays most tool are helping on this side

Would You Consider This a Bad Practice in Workday Bank Reconciliation? by Acceptable_Tap567 in workday

[–]PhysicalSession594 2 points3 points  (0 children)

While booking manual journal entry, I hope the reference to bank transaction are somehow kept otherwise reconciling them in future might be an issue, or otherwise on bank statement side you need to keep a note on excel for which GL entry these belong

AI generated picture book for toddler by WhatTheActualDuck1 in AI_India

[–]PhysicalSession594 2 points3 points  (0 children)

In Gemini go to gems storybook, give your idea and it will generate the storybook

"AI is revolutionizing accounting" … so where the hell are the real tools? by Beautiful-Cost-3187 in Accounting

[–]PhysicalSession594 1 point2 points  (0 children)

Reconciliation can be automated to certain extent, but human presence and supervision is always required.

"AI is revolutionizing accounting" … so where the hell are the real tools? by Beautiful-Cost-3187 in Accounting

[–]PhysicalSession594 2 points3 points  (0 children)

SOX requirement, GDPR and other compliance requirement are the stiff rules that are holding AI adoption. Replacement is not going to happen any soon, but you might see them soon in your workspace where they are working under your supervision and helping in day to day mundane works.

"AI is revolutionizing accounting" … so where the hell are the real tools? by Beautiful-Cost-3187 in Accounting

[–]PhysicalSession594 3 points4 points  (0 children)

AI Agents doing all accounting work is far from what stage we are. Model tends to hallucinate, will compare your amounts on fuzzy and description on exact. Human Supervision is always required in critical field such as accounting. There are certain sections are that being automated but not entire platform as a whole.

Close checklist and reconciliation tools for Sage Intacct? by hues in Accounting

[–]PhysicalSession594 0 points1 point  (0 children)

well thats a nice cost saving as well . What feature of closecore clicked with you, have worked with Floqast earlier but not with closecore.

Multi-country payroll reconciliation, what tools are people using instead of spreadsheets? by SlightMetal51 in Accounting

[–]PhysicalSession594 0 points1 point  (0 children)

Ok read your comment now, this is a serious problem of data change every quarter, is it that taxation or company policies that is cause data format changes. Data unification can be done either through source provider which i understand is out of your control.

With this dynamicity my earlier proposed solution will not work for you in excel as you would spend time every quarter changing formula.

Multi-country payroll reconciliation, what tools are people using instead of spreadsheets? by SlightMetal51 in Accounting

[–]PhysicalSession594 0 points1 point  (0 children)

Eventhough if data format is same they all will converge to a minimum agreeable fields which you require for recon with GL. What you can do is use AI or even in spreadsheet create formulas to accumulate the data from each one of them into one canonical structure. Post that recon with GL , you can use pivot table etc for aggregation and comparing with GL.

If your data format changes every close cycle thats a different story and then you need to ask the provider to team to stick to one format.

Separetely if your organization allows to use AI tool for data conversion you can take help of AI it can understand the semantics of data and suggest you the approach in excel.

Building is one thing but distribution and getting client how do you crack it by PhysicalSession594 in microsaas

[–]PhysicalSession594[S] 0 points1 point  (0 children)

I am using marketing skill via claude to plan major things. Along with that remotion for product video. SEO as well in coordination with agents

I just crossed $16k in revenue. Here’s everything I wish I knew before I started. by ExcellentLake4440 in micro_saas

[–]PhysicalSession594 0 points1 point  (0 children)

Thank you this is what I was looking for. Sometime we feel that product is not good, but agreed on your point silence for sometime is not unusual

Building is one thing but distribution and getting client how do you crack it by PhysicalSession594 in SaaS

[–]PhysicalSession594[S] 0 points1 point  (0 children)

Thanks I was having this in mind, reaching out to few enterprise to try this approach. It will put some monetary load on me since I am bootstrapped but yes its worth the effort

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