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Can ChatGPT replace your accountant?

April 3, 2023

ChatGPT is the topic of the moment. So, the question arises... Is this AI going to replace your CPA and his advice? And the answer is clearly NO! Here's why:

ChatGPT, AI that can't be ignored

The rise of technology continues to change the way we meet our customers' expectations. And ChatGPT is one of those tools that will certainly revolutionize the way we work.

This AI tool developed by Open AI is now the talk of the town. And for good reason. Students use it to write their assignments, marketers to write their posts...

But then, will this AI also challenge the high value-added advice that Blendy, digital accountant brings to its clients?

This question is on everyone's lips, and the answer is obviously NO!

The limitations of ChatGPT

Responses that do not incorporate all applicable legislation

First of all, it should be noted that ChatGPT is indeed a quick and accessible source of information, which can allow us to get simple answers to certain questions.

However, these answers are not always accurate. It is therefore essential to check the truthfulness of the answers given.

Indeed, ChatGPT does not integrate the latest tax standards of 2 months, 3 months, 4 months or 6 months ago. ChatGPT will therefore give you answers without taking into account the latest regulations. It is therefore essential to be vigilant and to ensure that the answers provided by ChatGPT are always in line with the latest rules.

Obviously, it is much simpler and wiser to rely on your accountant on these matters.

Generic answers, not adapted to your specific situation

Another limitation of ChatGPT that should be taken into account is that it is not able to adapt its response to your particular situation. This seems obvious, but it should be noted.

If you ask a simple question about accounting, such as"what is WCR" or"what is the purpose of an accounting balance sheet" you will certainly get a valid answer.

On the other hand, if your objective is to consolidate your growth,optimize your cash flow, raise funds or expand internationally, the answer provided will never be able to integrate the specificities and challenges of your business.

Here again, to benefit from personalized and value-added advice, it is best to ask your accountant such as Blendy.

How we use ChatGPT at Blendy

Despite these limitations, ChatGPT does offer some interesting features. At Blendy , for example, we now use it to automate note-taking.

Thus, during our monthly meetings with our customers, this automated note-taking allows us to ensure an efficient follow-up of the exchanges and decisions made during our customer meetings.

In short, even if ChatGPT is a truly amazing technology, it cannot replace the high value-added advice provided by your accountant such as Blendy. Indeed, the services offered by Blendy, a digital accounting firm, are based on the expertise of a team of accountancy professionals, who are able to offer you personalized support tailored to your specific needs.

To learn more about the benefits and limitations of ChatGPT and the value-added services offered by Blendy, make an appointment with our co-founderwho will tell you everything!

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With Blendy, your digital CPA make tomorrow's goals a reality today.

Certified Partner Pennylane, Dext, Quickbooks and Stripe.

Pioneers of digital accounting in France, we support digital companies, in France and internationally.

Chartered Accountant (France) and Chartered Professional Accountant (Canada)

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