New XBert alerts to help you automate your bookkeeping checks
At XBert we’re rounding out this year with some extra cheer: new XBert risk alerts. XBert is currently one of the most comprehensive AI Audit tools on the market - with 60+ automated bookkeeping checks live, performed on your books daily. But we never done. We are constantly releasing new risk alerts, making work life easier for bookkeepers and allowing them to free up billable hours and increase revenue potential. Covering everything from GST and ABN checks, sales, purchases, contact records and flagging unusual billing and invoicing behaviour - XBert's AI Audit gives you peace of mind nothing is being missed. Whether you're a business owner or a bookkeeper these alerts will help you be alerted to issues that may be easy to miss.
New bookkeeping checks live in XBert:
Bill Attachment with Cancelled Supplier
If you're loading up attachments against your bills and there is a discrepancy in the ABNs - XBert will let you know.For example, let’s say Joe works for ACME sports (ABN:12345678901) and is entering the bills for the last week. Joe enters a purchase from John's Oils (ABN:98765432101) and scans and associates the invoice to the purchase. After scanning, XBert advises that there is a cancelled supplier on the bill attachment. Joe reviews the bill attachment and notices that the John's Oils has both their and ACME sports ABN on the attachment - however the ABN they reference for ACME is 56785678567 which is incorrect. Although technically this is not an issue for ACME, it would be more accurate if John's Oils could correct their system to be correct. In another instance, it could be that Phil works for Joes's Pies (ABN:23456789012) and is entering a bill for ACME Sports (ABN:12345678901). He accidentally attaches a previously scanned document from SomeCo (ABN:78978978901). After scanning, XBert advises that there is a cancelled supplier on the bill attachment. Joe reviews the bill attachment realises he has attached the wrong document. XBert is super smart. We will use the attachments associated to bills/purchases from suppliers to help associate ABN's to businesses when their ABN has not been entered. When XBert finds an ABN where at least one was cancelled, we let you know! While it may very well be because a supplier ABN has been cancelled, it can also be because the supplier has an incorrect ABN value for your business and this causes our scanning to question the bill attachments validity or accuracy. This will happen when the contact record in your accounting system does not have the ABN noted for the supplier, and XBert uses alternate methods to determine the most accurate ABN reference to apply. If the supplier has incorrect ABN details associated to your business, then it can complicate this matching process further.Thanks to the XBert risk alert, you can quickly and easily check the issue in your accounting software and avoid headaches down the road.
Organisation Missing Registration number
This XBert has been delivered to help ensure the most correct and accurate tax information is entered into your accounting system. XBert uses many tools to identify relevant tax numbers for every transaction in the company file - one of these is the company's tax number. When a Company contact s missing a registration number, which could hinder further auditing.
Bookkeeping checks are the tip of the iceberg
Like we mentioned: XBert has more than 60 AI Audit risk alerts that help you automate manual bookkeeping checks. We've been referred to as 'The Gatekeeper for Human Error' and the equivalent of having a Part-Time employee. Not only does it give you peace of mind nothing is being missed - it will also allow you to free up billable hours to focus on what matters most: great advice and excellent service for your clients.Want to see how XBert can help you have the cleanest books ever? Sign up for a free 30 day trial and get a free audit of your files in minutes.