The Loop - AccountantsSeptember 06, 202600:12:05

Prosaic rethinks the general ledger. Is Xero heading for legacy?

Prosaic is an AI-native, cash-based general ledger out of New Zealand, now past fifty accounting firms and a thousand clients, with Nick Houldsworth among the founders.

What Alastair Barlow likes has nothing to do with the AI. Somebody has gone back and asked what a general ledger should actually do: chart templates you set once and push across a whole portfolio, rules that apply across the workspace, an open API and an MCP so you build the integration you want rather than waiting for a vendor to build a poor one.

It is narrow, cash basis and not available in the UK. But it prompts the better question, which John Toon puts plainly: he cannot say what he wants from a general ledger that he cannot already get somewhere in the ecosystem. And Alastair asks whether Xero is heading for legacy.

From the episode with Eriona Bajrakurtaj, Alastair Barlow and John Toon.

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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