Industries/Financial services/Finance
AI for finance teams and CFOs
An in-house finance team closes the books every month on top of the daily work. Accounts payable keys and codes supplier invoices and answers supplier statement queries. Accounts receivable matches remittances to invoices and chases overdue customers. At month end the team reconciles bank, intercompany and balance sheet accounts, posts accruals and writes the commentary for the board pack.
Talk to our team →- Use cases
- Month-end close, Payables, Billing and receivables, Board and management reporting, Document search
- Runs on
- Your servers, on premises
- Connects to
- Xero, MYOB, MYOB Acumatica, NetSuite
- Rules cited
- 05, each with its source
- Decides
- A person, every time
Use cases
All use cases →Architecture
We build beside the software you already run
We build AI for CFOs, financial controllers and the AP, AR and FP&A teams in mid-market and large Australian companies. The model runs on your own servers or in an Australian cloud region. Ledger, payroll and supplier data does not go to a public AI service. We do not replace your ERP or general ledger. A person approves every journal, payment and report before it is posted, paid or sent.
- SourcesXero / MYOB / MYOB Acumatica / NetSuite / SAP Business One
- Your serversMonth-end close → Payables → Billing and receivables
- ReviewYour team
- OutputMonth-end close / Payables / Receivables / Management and board reporting / Audit requests
The hours in finance go to work that repeats
- 01
Month-end close
Bank, intercompany and balance sheet reconciliations rebuilt in spreadsheets each month, and accruals and prepayments worked out again from last month's file.
- 02
Supplier invoices
Invoices keyed and coded from PDFs and email, matched to purchase orders by hand, and supplier statements checked line by line against the ledger.
- 03
Customer payments
Remittances matched to open invoices by hand, unapplied cash cleared at month end, and overdue customers chased one email at a time.
- 04
Board and audit requests
Figures pulled from several systems into the board pack each month, and invoices, contracts and approvals found one by one for each auditor request.
Services
All seven services →We take these jobs off your team
Month-end close
Bank, intercompany and balance sheet reconciliations prepared during the month, with each unmatched item listed beside its likely cause. Accrual and prepayment journals drafted from the ledger and the last close. A person reviews and posts every journal.
Payables
Supplier invoices read, coded and matched to the purchase order and the receipt, with variances flagged before payment. The same person approves each payment as today.
- PDFs, scans, email invoices and Peppol e-invoices read on arrival and checked for the fields the ATO requires on a tax invoice.
- Coded to the account, cost centre and entity from your supplier history, and split where one invoice covers several.
- Supplier statements reconciled against the ledger. The check finds missing invoices, duplicates and unclaimed credits.
- Invoice dates, payment dates and terms recorded for each supplier payment, in the form the Payment Times Report needs.
Receivables
Customer payments applied to the right invoices, invoices raised at the agreed rates, and overdue accounts followed up on a schedule.
- Remittance advices and bank lines matched to open invoices, including one payment that covers several invoices.
- Short payments and unapplied cash listed with the invoice they most likely relate to.
- Invoices raised from the contract rates and what was delivered, rather than retyped from the quote.
- Overdue invoices followed up on a schedule in your own words, with a person approving every message before it goes.
Management and board reporting
The board pack built in your template from the ledger and the source systems. Variance commentary drafted from the figures and last month's notes, with each number traced to its source. The CFO or controller signs off the pack.
Audit requests
Each item on the auditor's request list answered from your own invoices, contracts, minutes and prior year files, with each answer citing its document.
- Each sample item matched to the invoice, contract or approval that supports it, with the page cited.
- Ask what a loan agreement says about a covenant and get the answer with the clause it came from.
- Staff see through search only what they can already open in the source system.
- A private model on your own servers or in an Australian cloud region. No document is sent to a public AI service.
Forecast inputs
Actuals, open purchase orders, debtor and creditor ageing and payroll pulled into your forecast model each month in the same layout. Changes from the last forecast are listed with the line behind them. FP&A owns the assumptions and the forecast.
Register
Finance runs under its own rules
- 01Payment Times Reporting Regulator ↗
Payment times reporting
The reforms to the Payment Times Reporting Scheme commenced on 7 September 2024. A large business with annual consolidated revenue of $100 million or more under accounting standards is a reporting entity. The controlling entity gives a single consolidated report for itself and the entities it controls. An entity can apply for a short extension of up to 28 days without supporting evidence.
- 02ASIC ↗
Financial records
Under the Corporations Act, a company keeps up to date financial records that correctly track and explain its transactions, financial position and performance. The records must allow accurate financial statements to be prepared and audited. They include invoices, receipts, cheques, books of prime entry and working papers. Records can be electronic if the company can produce hard copies within a reasonable time, and companies keep them for at least 7 years.
- 03Australian Taxation Office ↗
GST reporting
A business with GST turnover of $20 million or more must lodge its BAS monthly. The monthly BAS is due on the 21st day of the month after the reporting period. For example, a July BAS is due on 21 August. A business under $20 million lodges quarterly unless the ATO directs it to report monthly. The July to September quarter is due on 28 October.
- 04ASIC ↗
Sustainability reports
Section 292A of the Corporations Act sets the thresholds for a sustainability report. An entity that meets one and prepares an annual financial report under Chapter 2M must prepare a sustainability report. Under the size threshold, the entity and the entities it controls meet two of three tests for consolidated revenue, consolidated gross assets and employees. A registered corporation with emissions reporting obligations under the National Greenhouse and Energy Reporting Act 2007 also reports. The first group reports for financial years that start on or after 1 January 2025. The second and third groups report for financial years that start on or after 1 July 2026 and 1 July 2027.
- 05Office of the Australian Information Commissioner ↗
Automated decisions
An APP entity must say in its privacy policy when it arranges for a computer program to make or inform decisions about a person. The rule starts on 10 December 2026. It covers decisions that can reasonably be expected to significantly affect the rights or interests of the person. It applies only where the program uses personal information about the person. The policy lists the kinds of personal information used and the kinds of decisions the program makes or supports. The Privacy and Other Legislation Amendment Act 2024 added the obligation to APP 1.
Questions
Where do the data and the model sit?
On your own servers or in an Australian cloud region that you control. The ledger, payroll, supplier and customer data that the system reads stays there, and none of it is sent to a public AI service. We choose the model and the hosting with your IT team in discovery.
Does the AI post journals or release payments?
No. It drafts the journal, prepares the reconciliation and queues the payment run with the supporting documents attached. A person in your team reviews and approves every journal, payment and report under the delegations you already have.
How do our auditors see what the AI did?
Each draft records the documents it read and the person who approved it. Every reconciliation, journal and report figure keeps a link to its source document. Your auditors can follow a number back to where it came from.
Do we need to replace our ERP?
No. What we build reads from and writes back to the ledger and ERP you already run. Examples are NetSuite, SAP Business One, Dynamics 365 and MYOB Acumatica. We will tell you in discovery if one of those systems is the actual constraint.
Where we do this work
Sydney / Melbourne / Brisbane / Perth / Adelaide / Gold Coast / Canberra / Newcastle / Hobart / Darwin
More in financial services
Banking / Insurance / Real estate / Accounting / Audit / Asset and wealth management / Payments and fintech
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