The executive summary took mere minutes to generate, opposed to the hours it would have consumed to read the full decision. Claude’s summarization included useful analysis, not just the ruling outcome. The well-structured explanation helped inform my perspective, allowing me to discuss the case intelligently on my podcast.
To be sure that Claude wasn’t hallucinating, I quizzed it further on specific parts of its summary and reviewed the relevant sections in the original document. You should do the same: Never blindly trust an AI chatbot. Think of it like a smart intern and always double-check its work.
Next time legal intricacies become unclear, let Claude help you gain clarity. Stay updated on the changing legal landscape that is most relevant to your accounting work. With Claude, you can more easily monitor relevant legal issues to give your clients the best advice. Whether it’s new regulations, tax court cases, or SEC lawsuits shaping the cryptocurrency landscape, Claude speeds up analysis.
#3: Posting transactions in QuickBooks
Another time-consuming task for accountants is figuring out journal entries, especially journal entries for new or unfamiliar transactions. ChatGPT can help.
First, a word of warning. We’re sailing into treacherous waters.
ChatGPT is great at text-based tasks, but struggles to do math operations accurately. The risk of hallucination is high, so you have to be careful. Always check the numbers.
However, ChatGPT can still be a valuable tool to set up the structure of journal entries. It tends to get that right.
Here’s an example:
Suppose a client has sold goods worth $5,000, received cash of $2,000, and the rest is a credit sale. You can ask ChatGPT: “Create a journal entry for the sale of goods worth $5,000, with $2,000 received in cash and the rest on credit.” The bot will provide an entry as follows:
