Tabby significantly simplifies the bookkeeping process with three core AI technologies: first, theIntelligent Trade Synchronization SystemAutomatically connects to bank accounts/credit cards, capturing transaction data in real time and eliminating manual entry. Second.Machine Learning Classification EngineIt analyzes transaction characteristics (e.g. merchant name, amount pattern) and intelligently categorizes them into 200+ preset accounting categories (e.g. "Advertising" or "Travel") with an accuracy rate of over 90%. The system also remembers the user's manual adjustment records to continuously improve the categorization accuracy.
The most groundbreaking is itsTax Semantic Analysis TechniquesThe tax credits are identified by parsing the transaction description to identify potential tax credits. For example: 1) Identified "WeWork" transaction automatically labeled as a "Home Office Credit" 2) Found "Adobe Subscription" suggested to be categorized as a "Business Software Deduction". These features are especially good for freelancers with a lot of projects, and have been measured to save 8-10 hours of bookkeeping time per month.
Users only need to confirm the AI suggestions via mobile, and all data will be automatically integrated into standardized documents such as Profit and Loss Statements and Schedule C Tax Forms, realizing the automation of the whole process from data collection to tax filing.
This answer comes from the articleTabby: an AI automated bookkeeping tool for small businesses and freelancersThe
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