AI in accounting: Get back to the business you love
AI tools are like extra brains in your business. They can help you cut busywork, make smarter decisions based on better data, automate processes, and save time on repetitive tasks. Finding out your cash position and working out how to improve it can be as simple as sending the AI agent a message.
Get accounting AI tools working for your business
Enhanced efficiency
Getting a task done is as simple as asking the AI, ‘How much am I owed?’ or ‘Can you draft an invoice for customer X?’
Busywork done for you
Automate bank reconciliation and payments. Jobs that once took hours happen in the background for you.
Clearer decision-making
Go beyond reports with personalised AI insights that tell you the story behind the numbers.
What does AI in accounting actually mean?
Artificial intelligence in accounting refers to software program that simulate human intelligence and predict, automate, and assist with financial tasks. AI and automation has existed in accounting for a long time, in Xero features such as bank reconciliation predictions and data analysis.
How can AI in accounting help my business?
Like an extra pair of virtual hands, AI can take care of the tasks that slow your business down. Modern AI tools like JAX are smart – they learn about how your business works, so they can automate tasks and share personalised insights with you. AI in accounting also:
- Frees up time for you by taking care of data entry, invoicing and receipt processing, and forecasting
- Offers a fresh perspective on your financial data to help you see it from all angles
- Spots trends and patterns in data to help you get ahead of risks and cash flow gaps
- Supports you with invoice and quote creation, and answers questions about business and finance
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How do I implement AI in my business?
The best way to get started with AI in your business is to look at the areas that bog you and your team down. Which processes are time-consuming or hard to follow? Many software providers are integrating AI into their program, which makes it easy to access the technology through existing plans.
AI in accounting: JAX gets it done for you
Everything you need to get started with AI and see the benefits in your business finances, is available through JAX and Xero. There’s no new system to learn; it’s the same great user experience you get with Xero. Except, getting things done can be automated with JAX.
Your new admin companion
With JAX, invoices are created, transactions reconciled, and data is kept up-to-date with bank connections.
Time savings and efficiency gains
JAX executes tasks for you, in the background, while you focus on more important things. You only need to ask.
The insights you’re missing
JAX can answer complex, personalised questions about your finances so you can make better decisions.
Champions your business
Combining data from Xero, apps, and real-time public info, JAX can surface gaps and opportunities for you.
FAQs on AI in accounting
Accounting AI tools are trained on data, which makes them especially good at pattern recognition. Tools like JAX use machine learning, a specific branch of AI, that gets smarter and more accurate over time. Another example of this is bank reconciliation in Xero, which learns your suppliers and transaction types, and makes better predictions for matches over time.
Accounting AI tools are trained on data, which makes them especially good at pattern recognition. Tools like JAX use machine learning, a specific branch of AI, that gets smarter and more accurate over time. Another example of this is bank reconciliation in Xero, which learns your suppliers and transaction types, and makes better predictions for matches over time.
AI in accounting supports your advisor – it doesn’t replace them. You can set your AI agent to work on repetitive admin tasks, like bank reconciliation and creating invoices, so you have more time to strategise with your accountant or bookkeeper on tax planning, compliance, and growth. With AI tools helping you get the numbers right and providing accurate reports and projections, you and your advisor can use these as a baseline to build from.
AI in accounting supports your advisor – it doesn’t replace them. You can set your AI agent to work on repetitive admin tasks, like bank reconciliation and creating invoices, so you have more time to strategise with your accountant or bookkeeper on tax planning, compliance, and growth. With AI tools helping you get the numbers right and providing accurate reports and projections, you and your advisor can use these as a baseline to build from.
AI agents, or agentic AI, is designed to autonomously perform tasks (under your supervision). For example, you could request that an AI agent create an invoice for you for a specific customer, and it would respond with the drafted invoice. Compare this to a traditional software feature, where you would need to fill in the online invoice template yourself and email it to a client, and you can save hours on regular admin tasks.
AI agents, or agentic AI, is designed to autonomously perform tasks (under your supervision). For example, you could request that an AI agent create an invoice for you for a specific customer, and it would respond with the drafted invoice. Compare this to a traditional software feature, where you would need to fill in the online invoice template yourself and email it to a client, and you can save hours on regular admin tasks.
Artificial intelligence doesn’t have to be a costly investment. Lots of tools, including Generative AI program, let you test the waters with free trials and low-priced monthly subscriptions. Equally, you can access accounting AI tools through existing software subscriptions, like how Xero offers JAX. AI accounting software for small businesses is designed to be simple to use, with features built for the tasks you take care of regularly.
Artificial intelligence doesn’t have to be a costly investment. Lots of tools, including Generative AI program, let you test the waters with free trials and low-priced monthly subscriptions. Equally, you can access accounting AI tools through existing software subscriptions, like how Xero offers JAX. AI accounting software for small businesses is designed to be simple to use, with features built for the tasks you take care of regularly.
To really get the best out of accounting AI tools, you want them to be integrated with your existing business software, so that you don’t have to update separate systems with the same information. If you’re using Xero, JAX is embedded into the core business software, so data flows between features. JAX can use your accounting data in Xero to pull up cash flow projections, or make recommendations on how to improve your cash position.
To really get the best out of accounting AI tools, you want them to be integrated with your existing business software, so that you don’t have to update separate systems with the same information. If you’re using Xero, JAX is embedded into the core business software, so data flows between features. JAX can use your accounting data in Xero to pull up cash flow projections, or make recommendations on how to improve your cash position.
AI guides for small businesses
Looking for AI help that’s easy to implement and free from jargon? Look no further than our AI in accounting guides:
10 ways to use AI in your small business
Learn 10 practical ways AI can help your small business grow smarter, quicker, and with greater efficiency.
Why AI is essential for small businesses
AI tools are readily available. Used properly, AI in business can help you become more successful.
Best AI tools for your business
Artificial intelligence can help you automate tasks and reduce errors. Here are the ones to try.
Xero’s AI product philosophy: our assurance about how we use AI
Xero uses AI to make products smarter, but we do it responsibly. We ensure your data is secure, private, and you stay in control.
Start using Xero for free
Access Xero features for 30 days, then decide which plan best suits your business.