The future of accounting with Artificial Intelligence

Automatic accounting

A software that uses artificial intelligence in addition to recording the operations and accounting movements you can calculate both the ISR and VAT based on the information and data you have.

ISR calculation

It will be possible to calculate the value of ISR by means of the cumulative income (CFDI of issued income) minus the authorized deductions (CFDI of expenses) by the rate that is equal to the determined ISR.

RPA
Robotic Process Automation , in Spanish Robotized Automatic Processes are systems that are responsible for automating anything up to the accounting process. This technology has the ability to capture all invoices both issued and received in real time.

How to adapt to change
In order to make the best use of artificial intelligence in the accounting part of your company and to adapt to the change, consider the following aspects.

  • Make a calculation of Artificial Intelligence through a strategic evaluation.
  • Know the different AI options that will allow you to achieve business goals.
  • Have an organizational culture
  • Have a good management and control in the company.

The arrival of artificial intelligence does not mean the end of public accountants, on the contrary, it is a tool that will allow you to carry out tax activities in an easier way. There is also the opportunity to create new jobs, because technology far from replacing human activities enriches them.

The accountant of the future

In the near future, accounting activities will also be fully automated and managed by the AI, some say as early as 2030. Today, 2019, the road is traced with excellent results: in the detection and writing of repetitive data such as filling out payslips, declaring incomes, manage invoices and fiscal deadlines, update all data in real-time. Again, in the detection of anomalies such as a bill much higher than the previous ones, a missing document, a beginning of fraud. In all these fields and many others, artificial intelligence has proven to be far more efficient, faster, more precise and safer than human control.

These complex IT and technological systems are already able to manage the flow of digital information from the company to the accountant’s office or from the bank to the accountant.

Here are some certain advantages of automation:

  • Optimize costs by avoiding repetitive tasks
  • Reduces the number of errors
  • Ensures legal compliance thanks to real-time updates
  • Facilitates collaborative management: with a simple password, more people can enter invoices, expense reports, etc.
  • Streamlines the exchange between the professional or studio and the accountant
  • It allows instant access to accounting data even from a mobile phone via a dedicated app.

But in this scenario of sure great appeal for the advantages in terms of efficiency, how then does the profession of accountant change? How will those who assist us work in accounting, administrative procedures and tax return verification learn and work? The accountant who will use the AI will work better and faster than before and will therefore be able to add significant professional skills.

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