Best New 5 AI Bookkeeping Tools for all Small Businesses and Freelancers in 2024
Best New 5 AI Bookkeeping Tools for all Small Businesses and Freelancers
In this article, we review 5 AI bookkeeping tools that small businesses, freelancers, and individuals can use to optimize their time and expenses on administration.
AI tools are invaluable for small businesses and startups aiming to automate repetitive tasks. Bookkeeping, often redundant and time-consuming when done manually, is one such task. Outsourcing bookkeeping can also be costly, potentially straining your budget. This is where AI bookkeeping tools prove extremely useful and life-saving.
What is an AI Bookkeeping Tool?
AI bookkeeping tools are software applications that use artificial intelligence and machine learning algorithms to automate and streamline financial record-keeping. They enhance efficiency and accuracy, significantly reducing the time required for these tasks. These AI tools help businesses and solopreneurs manage their finances, track expenses, generate reports, and reduce the burden of manual data entry and reconciliation. Exciting, right? ✨
We have compiled a list of the best new 5 AI bookkeeping tools for 2024 for small businesses and solopreneurs.
Continue reading to find more information and choose the best AI tool for your needs.
Bookeeping.ai
Devi AI's AI bookkeeping tool is a highly anticipated addition to the impressive lineup of AI tools. It automates financial record-keeping, making it easier to manage expenses, track income, and maintain financial records. Bookeeping.ai by Devi AI automatically prepares ledgers and financial statements for tax filing and business optimization.
Features:
- Automated ledger and financial statements from bank statements using AI
- AI Receipt matching and categorization, from inbox search and picture OCR
- Real-time accounting and advice to grow your business
- Chat with your books to find insights and valuable patterns
- AI Tax filling statements
Pricing: $49 Lowest Plan
Complexity: Easy
Free Account: Available upon launch in 2024
User Interface Friendliness: 🟢🟢🟢🟢🟢
Rating by Biz Elite Media Team: ⭐️⭐️⭐️⭐️
Don't miss out! Subscribe to get early access here: https://bookeeping.ai.
Zeni
Zeni is a comprehensive AI bookkeeping tool offering end-to-end financial automation services for startups. It handles various bookkeeping tasks, including reconciliations, accounting, and financial reporting. Zeni's AI technology helps your company make data-driven decisions and improve financial operations.
Features:
- Automated daily accounting and bookkeeping
- Personal dashboard to see all data and make quick, real-time decisions - it calculates where your startup is burning cash!
- PDF reports ready to forward to your investors
- Budget and forecast expenses with AI without the need for Excel
- API Integrations
- Bank & Credit Card Reconciliations
Pricing: Starts at $549 per month
Complexity: Medium
Free Account: No
User Interface Friendliness: 🟡🟡🟡⚪️⚪️
Rating by Biz Elite Media Team: ⭐️⭐️⭐️
Vic AI
Vic AI focuses on automating and simplifying the accounts payable process. It uses AI to extract data from invoices, validate transactions, and streamline the approval process. Vic AI saves businesses time and reduces errors in your financial processes.
Features:
- Accounts payable processing delivered with AI
- Improve invoice processing productivity by 355%
- Real-time insights, benchmark data, and cost optimization strategies
- Master data and supplemental information from any ERP system via our open API and data models
Pricing: You need to contact Vic AI for pricing according to your needs
Complexity: Medium
Free Account: No
User Interface Friendliness: 🟡🟡🟡⚪️⚪️
Rating by Biz Elite Media Team: ⭐️⭐️⭐️
Docyt
Docyt is an AI bookkeeping tool that provides automated expense tracking, receipt capture, and document management. It aims to simplify the management of financial documents and improve compliance with tax and regulatory requirements.
Features:
- End-to-end bookkeeping
- Capture and track revenue from the revenue system to the bank
- Bill Pay, Expense Reimbursement, Receipt Capture, and Vendor 1099 Management
- Manage your employee credit cards
- Capture and reconcile receipts
- Track undocumented expenses
- Basic Reporting
- Simple Bookkeeping Email Support
- Dedicated Bookkeeping Expert
- Multi-Entity Consolidations
Pricing: Starts at $299 per month for all back office accounting. It is $499 to include departmental bookkeeping.
Complexity: Medium-low
Free Account: No
User Interface Friendliness: 🟡🟡🟡⚪️⚪️
Rating by Biz Elite Media Team: ⭐️⭐️⭐️
Truewind
Truewind offers AI-powered bookkeeping and financial management solutions for your back office. It focuses on automating data entry, providing real-time financial insights, and assisting with budgeting and forecasting.
Features:
- Accurate books every month with a concierge team and AI to provide unmatched precision and transparency
- Monthly closing and financial reports to make informed and timely business decisions
- Finance back-office services include R&D credits and tax filing
- Monthly balance sheet, income statement, statement of cash flows, burn rate, and runway analysis
Pricing: You need to contact Truewind for pricing according to your needs
Complexity: Medium-high
Free Account: No
User Interface Friendliness: 🟡🟡🟡⚪️⚪️
Rating by Biz Elite Media Team: ⭐️⭐️
What is the Best AI Bookkeeping Tool?
Determining the best AI bookkeeping tool in 2024 depends on the needs and size of your business as well as your budget. Each of the tools mentioned above has its unique features and strengths.
Here is an overview of the five mentioned tools and what they are best for:
As AI tools continue to transform how we conduct and experience business, it is optimal for your company or product to stay ahead of the curve and focus on growth. Automating many manual tasks can give you the bandwidth to save resources or enjoy more leisure time.
We hope this list has helped you evaluate the features, pricing, and suitability of AI bookkeeping tools for your business to make an informed decision.
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