Here's how AI can do your taxes for you

It’s that time of the year again.

And no I don’t mean the change of seasons (Although happy Spring/Autumn, wherever you’re at in the world).

I mean tax season.

It’s an entrepreneur’s dreaded time of the year when we have to shift our focus from doing what we love with our businesses and instead do what the government would love instead 😅

While I’ve hired a bookkeeper and accountant to make this process as smooth and painless as possible…

I couldn’t help myself but wonder if AI could be infused into the process to make it even easier.

So while I still prefer the bookkeeper approach — and would recommend keeping one on the payroll (at least for now) …

Here’s a fun method to save a few hundred bucks if you have any receipts that still need to actually move onto your P&L.

Plus, a new way to keep things rolling for the current fiscal year with a little bit of AI support.

Introducing: Bookkeeper GPT

_{(If you use GPT Plus and want the custom GPT for this let me know and I can send it over as well)}

Using ChatGPT Plus’ “Analysis” feature, you’re able to upload any images or PDFs and ask it to analyze and provide the output in whatever format you’d like.

Whether or not you’ve tried this out to analyze documents for their specific content, it works just as well for numbers!

Ask ChatGPT to format the content into a table with whatever column headers match up with your P&L spreadsheet, and voila!

You can either copy and paste this data right into your spreadsheet or ask GPT to export you a CSV file that you can manipulate yourself.

Or if you want to take things to another level, you can actually upload a template of your P&L to ChatGPT and have it directly fill out your expenses as new line items as you request it to!

While there might require more “GPT wrangling” at this stage to make sure it gives it to you as you want it…

With the right prompting up front and the patience to figure it out up front — this can provide you with a new and simple way to keep your books up to date (or at least make things a lot easier on your bookkeeper! )

How about you? How are you using AI to level your workflows?

Will you try this to help keep your books up to date?

If you’re not yet embracing AI as wholeheartedly as I am…

I get it.

Also, I’d still recommend you check out this piece just to see how much AI already is, and will continue to touch on different aspects of our lives and businesses.

I know we have a million and one things to do in our businesses as it is…

And I don’t want to suggest you drop everything to get yourself up to date with the latest AI innovations.

Because I don’t think that would even be feasible given how quickly it’s all changing.

I just want to make sure this newsletter can at least provide you with some practical insights into how we can embrace AI, while running our businesses and building lives we love… one issue at a time!

If you think you’d benefit from bringing AI into your work in some ways, but you’re not quite sure how or where you’d best benefit from it — let’s chat & see where you’re missing out on it’s efficiencies & get you back to doing more of what you’re best at and love most 😍

Book a free AI brainstorm call — nothing to sell, let’s explore where AI can help you level up