Hello!

Like many small business owners, we all seek to do as much as possible by ourselves before we find help. One common way these days is using AI. Accounting is impacted with this tool when used correctly, but it can be harmful when taken without proper research.

Here are five reasons why AI may not be a great resource for you learning to do your own books.

1. Working with limited data: AI is great with large data sets applicable to your company to help make decisions. Small companies don’t have that same data set, so it leverages data from large companies, which generally do not apply.
2. Minimizing time spent: AI does well to summarize existing information of lengthy accounting guidance but it does not make it any easier to understand or apply for a business owner. AI takes significant back and forth discussion to provide a suggestion. We can dive right in and minimize your pain points
3. Keeping it simple: Accountants know when it’s ok to keep it simple and how to simplify complicated matters for you. AI will only provide you with a lot of information and suggestions but no real answers.
4. Interfacing with others: Accountants can speak with your bankers, auditors, or investors about your financials and company health to help you achieve your needs.
5. Business advising: Once we prepare your financials, we can guidance on financial planning, budgeting, forecasting, and strategic decision-making. While AI can provide insights and recommendations, it may not be able to provide the same level of business acumen and strategic thinking as a human accountant.

Take your business to the next level and contact us now to get a free consultation.