Use Cases of AI in AccountingRecord inserted or updated successfully.
AI & Accounting AI for Chartered Accountants

Use Cases of AI in Accounting

Author: CA. Kalpesh Kochar

Common Challenges in Accounting

  1. Manually typing of all amounts as well as manually selection of each ledger for each transaction while doing the accounting.
  2. Mapping of payments to each bill so that each payment transaction is mapped to based documents to ensure appropriate audit documentation and assist in smooth annual audit.
  3. Collection of data from client geographically distributed and many of them have virtual teams.

Tally in Accounting using AI

  1. We are doing tally accounting using ALML Platform i.e. "Buktec”.
  2. Due to AI reading capabilities, data entry work has been reduced as AI auto recommends all the tally ledger names along with the amount against each ledger by reading the invoice uploaded as well as duplicate bills are easily identified.
  3. My clients are geographically distributed and many of them have virtual teams. Buktec helped me to collect data from them seamlessly using email capture / mobile capture / file uploads. Due to AI reading, the client also doesn't have to enter much data.
  4. Due to AI, Buktec is learning from my pattern of voucher entries which is helping to reduce the data entry time i.e. GST details are auto fetched by reading the invoice and TDS is also auto calculated by reading the invoice.
  5. All the work gets synced with Tally along with the weblink to trace back the source document.

Use case video -