Anyone who's done one knows the drill. A checklist starts at a hundred-odd questions and can run to six or seven hundred, and most people copy last year's answers, ticking yes, no and not applicable, and hope nothing has changed. John Toon reckons we all turn into robots doing it, so handing it to one makes sense.
He's tried. At Beever and Struthers his team built the same thing with ChatGPT and got to 70 to 80 per cent reliable, but the last stretch never closed on long financial statements with a big checklist. Not hallucinating, just getting a bit lost at the tail end.
AccountsBot isn't the first to market, and John names DataSnipper as another. But this is time that usually belongs to senior managers, which is where the saving is.
From episode 6.38 of Digi-Tools in Accrual World, with Indi Tatla, John Toon and Ryan Pearcy.
Digi-Tools in Accrual World is The Loop's weekly accounting tech podcast, hosted by Ryan Pearcy, John Toon, Indi Tatla, Eriona Bajrakurtaj and Ian Gregory.
Full episodes: https://digitoolsinaccrual.world
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