Craft Your Invoice Template AI for Accounting Effortlessly

Invoice template ai for Accounting

listen I get it you haven't tried chat TPT yet and at this point we are so far down the road that you're afraid to admit it hey buddy I know how those conversations go why Lotus yeah you guys try this now I won't tell anybody we're gonna get started with chat TPT from scratch here if you have used chat GPT before send this video to your colleagues because those people aren't half the Nerds that you are okay okay chat TBT free to get started go to chat.openai.com hit sign up just pop in your little email address accept the terms of surrender for the singularity and you're ready to go now with the free flavor of chat GPT you're gonna get some down time at peak times especially you're not gonna be able to use it it's just gonna lock you out really annoying but here's the thing today we're just gonna use gpt4 and that is the newest model to get it you have to pay the twenty dollars a month you can do all of these things on the old model it's just not going to work as well and frankly I'm making this video in May of 23 what the old models do isn't really that relevant going forward so I'm using what is called chat GPT plus I pay 20 a month for it and I get that time back many times over so how is chat GPT useful for accountants um let's take a look okay somebody just sent me this balance sheet and PDF format but buddy I need it in Excel because I'm an accountant and if you've ever used the acrobat like export to excel thing you'd know just how sh that is so I'm gonna do here a little copy pasta drag this down across the scroll darn it drag this down across the balance sheet hit copy and chat GPT I'm gonna say present this balance sheet and table format paste it in oh look at that nice formatting okay that is done my assets look to equal my liabilities and Equity I'm going to copy this whole thing paste that sucker right into Excel now security sidebar meet my Island gym wait just one minute scooter I'm not checking my client data into this robot machine three things to keep in mind by default your prompts and chat GPT are used to train the model so when you submit prompts they use those prompts to make the user experience better but you can turn that off now so if I go down to settings under data controls you can toggle this off to not save your chat history and not use those prompts to train the model but you'll notice I still have it turned on and that is because the chat history is helpful for me and security consideration number two anonymized information is not generally considered personal sensitive information in fact under gdpr under HIPAA rules under California's rules if you anonymize that information it doesn't fall under the same regulations so that is removing names removing street addresses removing any other things that would make it able to be tied back to a specific person or company you'll notice when I copy pasted the goods into chatgpt I didn't grab the company name and for the purposes of what I'm doing here I don't need the company name so the information that went in there was anonymized third security consideration even if you have this setting turned on so it does train the model and you did accidentally put some personal information in there open AI the company behind chat GPT actually anonymizes the information before it goes in to be trained in the model so somehow if a social security number or an EIN or something like that did get into it prompt on their side they should be anonymizing it when it gets trained now I don't really want to rely on that but kind of guiding principle here just don't put any personally identifiable information in here and in most of these workflows it's not hard to just remove that person's name or their address or the company name it's just a matter of not grabbing that sensitive bit okay moving past the security scares I just got a bank statement from a client but that doesn't help me import those transactions into the accounting system gosh darn it turns out GPT really good at grabbing Bank transactions from bank statements I'll show you here's the offending bank statement sudden Bank old-fashioned Innovation you see we've got all these transactions down here but buddy I need the CSV I'm not about to type that stuff in you heck of me I'm gonna copy all of these transactions out of here note that I'm not copying like the account number and the company name and all that I'm just grabbing the transactions and these are like Merchant descriptions which are the same for everybody I'm gonna hit copy I'm gonna pop back over to chass here inside joke if you saw the last chat GPT video and I'm gonna say here are some lines from a bank statement I need a CSV of the transactions with the date column details column an amount positive for paid in negative for paid out and balance those are the only bits that I want to get back I paste all those goodies in look at that little guy girl it gives you that data back in a CSV that you can now save and import into your accounting system now now I could copy and paste this into Excel and save it as a CSV another thing you can do is you can open up notepad drop all this text in there and then just save it as you know transactions.csv for example and then that's about you're going to be able to import straight into your accounting system Neato huh gonna save me some pain where was this when I was like in my first years right okay sidebar here on gpt's context limits so GPT can only handle so much information at a time you can't Chuck a limitless amount of text in there right now the limit that chat GPT enforces on the way you work with gpt4 here it works out to about 3 000 words is the limit and when you frame that as like accounting transactions it means you can't Chuck in like a thousand transactions at a time but doing this I've never had a problem with putting a Page worth of transactions in at a time even on like pretty dense credit card statements that are like legal length I select the whole thing all the section head things whatever it just figures that out and I haven't run into any context limits with that yet but just know if you got a huge amount of information just break it up into pieces little bite-sized morsels okay now let's say you're doing some bookkeeping you're getting close to the end you get to the end and you've got like these 10 transactions that are like WTF mate I don't have any idea where these things came from time to get to Google them now check this out this is a really cool aspect of chat GPT the notion of quote unquote prompt engineering this is what the Nerds call it but the idea is I could build a really cool prompt and share it with you vice versa you build out this kind of Mega prompt and share it around anybody can use it so check out this big sweaty prompt and it's for like solving this situation where you've got these transactions left over and you're not sure what they are you are transaction Bud a helpful concise utility for providing additional information about ambiguous Bank transactions this is your main function I will give you lists of Bank transactions and I want you to provide a table with the following name your best guess at the merchant when the payment was made via a service like PayPal only shows zero to 100 rating of how category or general business County category categories now you don't have to write all this you can copy paste it you can steal it from your friend save it reuse it so I'm gonna drop this prompt in transaction budget Your Service First please share General location of the client in question and what type of business it is to better Target the most likely Merchant I'm going to say Salem Oregon internet think boy got it paste a list of transactions Below in any format okay so I got some transactions here that are actually pretty vague paste them in this is just like what you would get on your bank statement line look at this yeah yeah yeah yeah so it is giving you what it thinks the merchant is and that is a hyperlink to the merchant website it's telling you how confident it is with this determination the general type of thing that it is and even a little explainer a background about what this company does and this is 100 correct how cool is that so that big sweaty prompt that I either made you watch or in the edit decided to like chop way down because it was too long and uncomfortable you can copy paste that prompt to use it as many times as you want share it with your friends share it with your mom and it's a great example of how you could build cool assets that are reusable within chat GPT that's a big brain move right there pretty cool right hey if you shared this video with your colleagues yet don't hide it under a bushel basket okay a couple more things specifically with Excel oh no not again it does this sometimes sorry hang on sometimes sometimes you gotta just hey I can do this sometimes you gotta just gotta unplug it from the wall just gotta unplug it from the wall and give it a few minutes sometimes and when it comes back it's usually cool about it so that helpful tidbit actually courtesy of today's sponsor Tech Guru hey are you thinking about the singularity weird robots are gonna start getting jealous of your family's time it's happening well let me tell you if they end up taking over I'm gonna make sure I want to have a solid I.T solution sorted out and Tech Guru they work just with accounting firms snowflakes like me for teams five and up they understand what I do they understand what busy season means they understand I gotta use software just because I do stuff with the government now chat GPT is just one example of AI stuff but AI stuff is kicking off everywhere and it's adding new complexities to security and how we manage client information and the last thing you need is some major accounting celebrity telling you how to manage your client data with AI apps right so make sure you got an expert on your team someone that you can trust get in touch with tech Guru they're gonna hop on a call with you they'll talk through stuff no commitments just just Palling around and talking I.T what do you got to lose check them out in the link in the video description okay couple more things specifically with Excel looks like looks like we've gotten past our little moment we're having here first if you have been around this channel long you know one of my greatest fears is Pivot tables don't judge me we all have our phobias but it's one of those things you don't want to admit to because accountants love flexing pivot tables on people like cool bro of all the life skills to have but chat cheap BT if I gotta ask questions to make fun of me so one of the ways I use this most is to explain things to me that I don't understand so I can say I don't know much about Excel pivot tables explain them to me like I'm 15 years old to be clear I'm not 15 years old though somebody did tell me the other day that they're waiting to learn about imagine we got a big box of Legos off to a good start okay okay pour all your Legos in and say hey I want to know how many red bricks I have and also how many square ones pivot table then quickly sorts everything and gives you the answers so you've been keeping a record of all the games you've been playing with your friends over the year how many games of fortnite you won now we're talking okay so practical like helpful explanation but what if I actually want to make one why don't we give me some sample data about my fortnite results I can plug into a pivot table friends involved good one whoops that first one was empty okay there we go 10 kills okay from this data you can use pivot table to answer questions like how many games did I win in each mode what are my average kills okay that's enough I gotta copy paste this into Excel give me some fresh sheets here okay sick data table but I wanted to tell me how to actually do it okay how do I actually make the pivot table in Excel okay select my data go to insert and click on pivot table okay turbo slow down hang on I gotta make my table okay select the data insert pivot table yes oh you're still going okay mode into the rose box drag placement into the values box some of placement I feel sound cool pivot table bro moving on one last way that I use this with Excel that's pretty handy is making sweaty sweaty formulas so let's keep working with our fortnite data table here and let's say I wanted a list of the unique number of kills that I've had in a game getting like a list of unique things in Excel is always kind of a pain so let's say I copy pasted that data into Excel write me a formula to create a list of unique number of kills unique d10ity2 this formula will return a list of unique values found in the cells in Taylor kills data here's what it does okay really really though the blowback from my Excel skills in this video are just gonna be outrageous oh look at that wow look at that one little formula did all those now other sweaty stuff I've done here if you've ever struggled with like X lookup versus index match same bro same you can even like copy paste your data from Excel into chat GPT and say like this starts at A1 write the formula with the exact references to do this and that or copy the data from tab 1 and Tab 2 and say I want to look up this and that give me a formula to do that your main limitation is going to be like the total volume of context you can put in there at once if you put in more than it'll allow it'll tell you but if you ever gotten stuck on a formula or we're working through some things opened up a spreadsheet that your colleague wrote and you didn't understand what that formula meant never happened to me but if it happened to you you could copy paste that formula in there with some example data obviously don't give away the clients Lucky Charms but then it'll give you this big like helpful explanation step by step of how that formula Works how cool is that another idea alert then ask it how to improve upon it and write a team's message to send to your teammate specifically with the goal of making them feel small how's that pretty rad right hey I've got some more chat GPT content for accountants coming be sure to hit the old subscriber rule button to get notified when that stuff drops I know you already shared this with your colleague nothing Excel function this video and I run a daily podcast for accounts where we actually talk about AI stuff quite a bit I'm going to link one of my favorite videos right up here for you because I know you will love it toodaloo oh oh yes try this foreign