What's Next For Accounting? - Issue #69

๐Ÿง‘โ€๐Ÿš€ New Launch

I soft-launched a new app over the weekend, ScanStraight. It's steeply discounted for the next week while it's in early access, but essentially converts terrible smartphone document pics into tidied-up scans. Imo this ought to be in the toolbelt of every firm admin.

๐Ÿ—“๏ธ This Week

โš ๏ธ AI Stuff Ahead โš ๏ธ

  • Big news this week was Google announced their ChatGPT rival, Bard. It's in private beta now, will be released 'soon', and will also somehow be incorporated into their search experience

  • Not to be outdone, the next day Microsoft held a press conference announcing a new version of Bing (which is now live) that's like search had a baby with ChatGPT and it's every bit as confusing as that sounds

  • Ghostwriter is a Microsoft Word add-in that gives you a ChatGPT-like writing assistant

  • "The world's first AI assistant for lawyers"

  • Google invests a whopping $300M in Anthropic, company of former OpenAI researchers with a ChatGPT-like model, Claude

๐Ÿ’ŽThis Week's Sponsor

๐Ÿค– Automate My Thing

Generate QBO Reports on an Automated Basis

QB's scheduled reports functionality lets you get your hands on PDF or Excel versions of reports without lifting a finger. It's available on any version of QBO and can run as frequently as daily.

Create a rule to route these emails to an automation app like Zapier or Make to level this up:

๐ŸŸข Beginner

  • Log BS and P&Ls to your file system on a monthly basis (for the clients you don't do the accounting for)

  • Each quarter pull the "Recent Transactions" report for your non-bookkeeping clients, to see if they're keeping current & ID those who need help

  • Pull the 1099 transaction detail report each month to see if they need to send out W-9s lul ya right

โšซ Advanced

  • Generate a daily unpaid bill list to incorporate into an automated cash reporting email

  • Use a PDF extraction app like DocParser or Microsoft AI Builder to pull data from reports

  • Use a data processing app like Parabola to pull structured data from the Excel report

๐Ÿ˜From The Community

Month #2 of Swiping Right this week. This is a series that genuinely would had changed my life had I heard it early in my firm-running days. How to nail down your perfect client & manage those engagements successfully.

My community Realize is a private space for people to swap ideas & collaborate. At $180/mo itโ€™s also the way I finance everything else I do, pay a full-time creative director, and a part-time developer in an effort to make the accounting industry a slightly better place ๐Ÿ’— The community is currently about 280 members strong.