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Tech news: Bloomberg announces new features for AI Assistant

Accounting Today

Users can accept contactless cards and digital wallets; and automatically reconcile payments in Sage Accounting. These features were developed in response to reported pain points from assurance and internal controls professionals. It not only surfaces the relevant authorities but also explains them in context.

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8 Unique Ways to Use AI for Accounting Firms

Jetpack Workflow

Thanks to the optical character recognition (OCR) capabilities of certain AI tools, teams can upload receipts to supported platforms, where it automatically extracts the necessary data, including the purchase amount, date, and vendor, to update the general ledger and apply the proper expense category.

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Xero AI: How to improve AP and invoice tasks

Nanonets

We are forced to manually enter data, reconcile transactions, and sift through files trying to locate financial information we need.  Instead of scrolling through help articles, you can now ask questions in plain language and get relevant answers drawn from Xero's support documentation. No more manual sorting.

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Rethink expense report workflows for company credit cards

Accounting Today

EDT 5 Min Read Facebook Twitter LinkedIn Email For decades, employee expense reporting has followed a familiar path: employees submit reports, managers approve them and the accounting department performs a final review. Yet, many organizations still require managers to "approve" these purchases via traditional expense reports.

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How Business Process Automation Reduces Operational Costs Without Sacrificing Control

NextProcess

Tasks like generating purchase orders, reconciling invoices, and processing expense approvals become much faster and more efficient after automation. That means the cost per PO, invoice, or expense goes down dramatically. How BPA Cuts Costs There are several direct and indirect ways that BPA software helps companies save money.

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Real Estate Bookkeeping Checklist for 2025: Stay Audit-Ready

Outsourced Bookeeping

Have separate accounts and cards for: Property-related income and expenses Maintenance and utility payments Loan servicing and interest Security deposit handling This also helps maintain clear trails in case of an IRS review. Save and Back Up Every Document Keep digital copies of every invoice, lease, receipt, repair bill, and bank statement.

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Improving the AP End of Month Close Process

MineralTree

Its primary purpose is to ensure the accuracy and completeness of financial records so that financial statements can be prepared for internal and external reporting purposes. The process involves a series of steps and tasks that are designed to reconcile financial accounts, verify transactions, and produce accurate financial statements.

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