Finance & Accounting Automation with ChatGPT: Classifying Invoice Items into Chart of Accounts

This video shows how Gleematic can work with ChatGPT, to automate process in finance and accounting. These two technologies can be implemented for finance and accounting automation, which in this video showed by automating invoice processing.
In this video, we can automate invoice processing and accounts classification (classifying invoice items based on chart of accounts). Chart of Accounts is a list categorizing every account within a company's general ledger. It serves as a vital financial tool, systematically organizing and recording transactions based on specific categories. Each account is assigned to a category according to its purpose or function. Automating the Chart of Accounts is crucial due to the inherent challenges in manual classification, such as error-prone processes and time-consuming tasks. Automation streamlines this critical financial function, reducing errors, enhancing accuracy, and significantly saving time. By leveraging technologies like Gleematic and ChatGPT, companies can achieve efficient, error-free Chart of Accounts classifications, allowing for more precise financial reporting and analysis.
In this video, Gleematic will play the part in automation - mimicking keyboard strokes and mouse clicks. Gleematic will extract the data from invoice, and place the extracted data on Excel file. Then, Gleematic works with ChatGPT to classify invoice items into chart of accounts. Gleematic will retrieve the response from ChatGPT and update Excel file. This capability will save finance or accounting clerk a huge time in processing invoice.
00:28 Invoice to extract data from
00:36 Chart of accounts classification
01:35 Script for intelligent document extraction
01:43 Extraction result
02:28 Script to "work" with ChatGPT for chart of accounts classification
02:38 "ChatGPT" function in Gleematic
03:00 Running Gleematic (run in the back end)
03:20 Updated Excel file (Gleematic adds another column for chart of accounts)
Now Gleematic is integrated with ChatGPT. We make it simple for you: automation and ChatGPT, all in one no-coding and user-friendly software!
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