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AI in Bookkeeping: streamlining services and transforming practices

ABN Director, Kellie Powell, advocates for the opportunities of AI, following significant interest from members at ABN's annual conference, The Bookkeeper Event, and in the latest Online Coffee Club broadcast.

With AI the hot topic at the recent Australian Bookkeepers Network (ABN) conference, The Bookkeeper Event, and the latest Online Coffee Club broadcast, ABN Director, Kellie Powell, recaps on what members are loving most.

"AI capabilities, which have been evolving in bookkeeping software for over a decade, are now at the forefront of helping bookkeepers work smarter, not harder," Kellie said. "What we once called automation is now recognised for its AI-powered sophistication, saving hours of time and delivering new levels of accuracy and efficiency."

Chat GPT a favourite for bookkeepers

“What was really eye opening for delegates at the conference was the use of Chat GPT type models,” said Kellie. “A lot of delegates hadn’t been using AI like that before, or had only scratched the surface.”

“Many bookkeepers saw how they could transform their business using some of this technology,” continued Kellie. “It can really help create processes, systems and checklists, which is always a bookkeeper's favourite, as well as assist with drafting correspondence, management reporting, social media posts, and so much more.” 

“Members really appreciated that they could use this type of technology for things that might be outside of their wheelhouse, or perhaps just things they don’t want to do.”

AI beyond bookwork: business management and marketing

Kellie extended discussion to assert that AI is not just transforming how client books are managed—it’s reshaping how bookkeeping businesses themselves operate.

"Many bookkeepers are using AI-driven tools to help train their staff, create structure within their organisations, drive their processes and enhance their service capabilities," Kellie noted. "Our members are loving that marketing tools powered by AI are making it easier than ever to promote their businesses, reach new clients, and streamline communication."

A decade in the making

Keen to ease concern about this transition to new capabilities, Kellie reiterates that AI’s impact on bookkeeping is not new but rather the evolution of years of innovation now recognised under a new name.

"The AI label may be fresh, but these technologies have been embedded in our systems for over a decade," Powell said. "Today, they’re more advanced, accessible, and indispensable, than they ever were before."

The Road Ahead

As AI continues to evolve, bookkeepers are poised to harness its potential further, creating opportunities for growth and transformation.

"Our members are excited by the opportunities of AI to empower bookkeepers to focus on strategic, advisory roles while technology takes care of the repetitive, time-consuming tasks," Powell concluded. "It’s an exciting time for our industry, and those who are embracing these tools are thriving."

For more information in the latest advances in bookkeeping technology, ABN’s raft of industry partners and software providers are here to help. See more about our partners.