Let’s be honest, AI tools like ChatGPT sound impressive, but if you’re wondering how accountants use them day-to-day, you’re not alone. Here’s a look inside how the MoneyPenny team uses AI to save time, reduce errors, and just get stuff done more smoothly.
1. Drafting Client Emails That Don’t Sound Like (Indian) Robots
We all get email fatigue, and sometimes our first drafts come out a little too rushed or clunky. And let’s be honest, english isn’t the first language for the vast majority of our team, so we use ChatGPT to fine tune and polish our emails before hitting send. It helps make sure our tone is professional, our grammar’s clean, and our point comes across clearly.
Bonus: It’s great for clarifying emails FROM our clients, especially if instructions or feedback is vague or confusing.
“I use ChatGPT to correct and refine my sentences for better clarity and effectiveness. It helps me respond more professionally.” – Raji
2. Simplifying the Complex
AI shines when it comes to explaining complicated tax stuff. Whether it’s OID interest input in UltraTax, 1031 exchanges, or figuring out the right lead sheet code in Engagement Manager, we feed the problem into ChatGPT and usually walk away with a better understanding of what we’re doing.
“When handling a task involving a 1031 exchange, ChatGPT explained the concept and how to apply it in QuickBooks Online.” – Deepali
3. Helping New Team Members Get Up to Speed
Training doesn’t have to be a slog. We use ChatGPT to explain tax concepts in simple language, generate quiz questions, and give step-by-step guidance. It cuts down on back-and-forth and gives new hires a resource they can rely on anytime.
4. Tackling Software Issues (Without IT)
When we get stuck in Outlook, NetSuite, Bookkeep.com, or any of the 10 other apps we juggle daily, we ask AI for help. It’s not perfect, but it usually gives us enough of a head start to troubleshoot faster. Think of it like a smarter Google search that actually talks back.
5. Automating Data Entry (Yes, Really)
For clients using Stripe, Hubdoc, Bill.com, or Booke AI, AI tools are key to reducing manual work. Here’s how:
- Hubdoc pulls bills from vendors and extracts invoice details automatically.
- Bill.com takes that data, syncs with QuickBooks Online, and helps manage payments.
- Booke AI reads receipts and bank statements, categorizes them, and populates your accounting system. Pretty slick.
We still double-check everything, but it cuts down on the typing, clicking, and second-guessing.
6. Making Smart Accounting Decisions, Fast
Sometimes we’re faced with coding questions or have to figure out which form to use (for example when it’s not a clear-cut residential or rental property). Instead of searching 5 different tax sites, we ask AI to walk us through the options.
It’s not just about saving time—it’s about reducing errors and feeling more confident in our choices.
“ChatGPT helps assign the correct account classification and leadsheet codes, making it easier to understand the nature of expenses.” – Pragathi
The Bottom Line
AI isn’t some far-off futuristic tool, instead it’s in our browsers, helping us every day. Whether we’re refining emails, speeding up data entry, or just trying to decode a confusing tax scenario, these tools help us be more efficient, more accurate, and a little more sane.
If you haven’t tried using AI in your workflow yet, don’t overthink it. Start small. Use it to check an email. Ask it to explain a tax concept. You’ll be surprised how fast it becomes your go-to sidekick.
Connect with us if you’d like to discuss anything shared in this article.
