As this thread is more appropriate, I’m going to quote something I posted about in the Pit AI thread regarding a couple of more use cases for which I found AI to be very helpful. As it’s long, I’m going to put this in a details tag.
I’ve been reading about how AI is changing how coding (programming) is being done, much of this amplified over the past few weeks because of modifications to the Claude AI model.
So I decided to test it myself, using Gemini (which we already pay for in my business - it comes with our paid Workspace subscription.)
A note about myself: I am not a programmer, though I have run programming teams. As I explained to them: “I know what the inputs need to be. I know what the outputs need to be. I know, logically, how to get the output because, until now, I’ve brute-forced the inputs to give me my desired output. What I don’t know is how to tell the computer to take these inputs to create that output.”
IOW, I don’t know shit about programming.
Bona fides (or lack of them) aside, this weekend I decided to just go ahead and… given what I was reading about plain English being the programming language of the future… to see if I could get Gemini to programmatically solve two problems my company was having.
The first was to create a general knowledge internal web page about classifying bookkeeping transactions based upon inputs like dollar amount, industry, entity-type (sole proprietor, S-Corp, etc), and a description of what was needed. Using Gemini I built this thing to only use primary sources (Finra, IRS, others) and to be robust enough so that if the team member forgot an important detail, they could add it in later.
It fucking works like a charm, team. It’s an absolute game-changer and will assist our weaker team members into becoming better accountants and our great accountants into being superstars. It not only tells you the accounting treatment, it tells you why you do it this way, citing IRS Regs and GAAP standards, and alternative ways to do it based upon the legal entity type.
For example, I have the following issue:
“My new client bought a F150 for $55,000 in October 21st, 2023. She paid $15,000 in cash and took a $42,000 loan on the vehicle at 6.25% interest over 60 months. The extra $2,000 in the loan was because the document fees were rolled in the loan. She has not provided us with a statement, but we see an automatic payment of $634.43 leave her account every month like clockwork.
She totaled the truck on December 21st, 2025. Her insurance covered the loss, paying off the loan in full. She is an S-Corp. Please provide me with the following:
- The book entry for the purchase.
- Annual adjusting entries for interest and principal expenses.
- Annual adjusting entries for depreciation.
- The book entry for the loss of the vehicle.
- The amortization table you used to calculate the interest/principal payments.”
It then does all the math, gives me the book entries (which can be downloaded to CSV) and the amortization table.
But wait! It assumed that, being an S-Corp, we used accelerated depreciation… which the client didn’t do, their CPA just used a standard 5yr straight-line depreciation schedule. So I modified the query by saying:
“Oh, yeah, when they bought the truck, they were a sole-prop LLC, not a Sub-S. So they used a straight-line depreciation schedule of 5 years. Please provide me with updated depreciation book entries for each year.”
And it does so, easy-peasy.
The other use case is client specific. He wants specific administrative expenses allocated among his divisions based upon the divisions monthly revenue percentage. Why does he want this? Fuck if I know, but despite our telling him that this isn’t the best method, it’s what he wants.
So, also on the same day I created the Accounting Intelligence app, I created another HTML application where we just upload the P&L (by division) csv and the AI then builds a journal entry based upon the logic, which we then put into Quickbooks. A problem which took 15 minutes is now solved in 2.
I’ve taken the bottom example and now have a suite of web apps where we can upload documents, create a journal entry, and then put that JE into QuickBooks online. Processes that once took an hour, hour and a half, now take 3, 4 minutes.