7 Experts Weigh In On the Future of Accounting
Every industry is impacted by the rise of technology and automation, and for many, that can be an...
Outdated tools, misplaced resources, tedious data entry, and accuracy issues all present major barriers to efficiency, diversification, and growth- until now. Using best-in-class machine learning, and an experienced verification team, Botkeeper's Transaction Manager tool takes the bulk of the work off of your plate by eliminating the traditional challenges with categorizations, opening the door for firms to achieve their goals.
Average Partner Hours Saved Per Month
Ditch the endless back-and-forth email communication, stop chasing your clients for answers, and grab your valuable time back
Watch as the machine's level of accuracy improves with each and every transaction, remembering every detailed nuance, forever.
Open up your firm's capacity, overnight
Easily find all of your client's categorization activities in one centralized place
Quickly jump into the areas that need your specialized input
Safeguard your client data with bank-grade security, and 256-bit encryption within the Botkeeper platform
You have questions. We get it. We also have answers.
The Transaction Manager is a Botkeeper tool that combines machine learning with some light human assistance to auto-categorize transactions based on past transactions. The Transaction Manager functionality has long been used behind the scenes inside the Botkeeper framework by the Botkeeper team, and we now have released a client-facing version that allows us to offer an interactive, faster, and more efficient way to categorize transactions.
Historically, categorizing hundreds of thousands of transactions was a manual, labor-intensive, and error-prone process. The Transaction Manager tool was built to solve the problem of having to manually categorize transactions, which are the root of many bookkeeping headaches. The result is faster categorizations, up-to-date financials, maximum efficiency, beyond-human accuracy, and fewer interruptions for our clients.
Botkeeper’s system pulls in uncategorized transactions in real-time and runs them through an individualized machine learning model to try to find the best match based on patterns and prior categorizations. Our machines submit their results along with a confidence level (how confident we are about the level of accuracy the machines have produced).
If the confidence level of the machine falls below 97%, a Botkeeper Accountant will review, apply critical thinking, and attempt to categorize the transaction, thereby training the machine so that it knows what to do with similar information in the future.
If a Botkeeper Accountant is still unsure as to how to categorize the transaction, they will reach out to the Accounting Partner for their input. After the categorization is made, the machine learns this process and is able to perform it in the future, getting more and more efficient over time.
Nope! The Transaction Manager tool is included in all of Botkeeper’s standard Accounting Partner Packages.
Updates that are made within the Transaction Manager tool are sent directly to QBO, which is to say that there’s a direct API connection between the Transaction Manager tool and QBO.
Transaction Manager currently supports the following transaction types: