Question 01
How accurate is it on your own transactions?
Ask to test it on a month of your real data. Accuracy on a demo company says little about your vendors and payouts.
Automation · Keeping the books
What automated bookkeeping software misses, an accountant catches.
Excello combines automated bookkeeping software with accountants: software pulls in, matches and categorizes transactions in your QuickBooks, Xero or Odoo every day, and accountants review the books weekly or every business day.
The automation comes with every bookkeeping plan, so there is no extra software to buy, and your month closes within five business days as standard.
Your books stay in the accounting software you already use.
- Bookkeeping
- Matched daily
- Reviewed weekly or daily
- Automation included
- Closed within five business days
AI bookkeeping software challenges: where software needs a person
The gap
How Excello's automated bookkeeping works
Five steps
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Step 01
Pulled in
Bank and card activity arrives every day through your accounting software, with data from tools such as Stripe, Shopify and Gusto.
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Step 02
Matched
Transactions are matched to their receipts, invoices, bills and payouts, so the paperwork sits with each entry.
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Step 03
Categorized
Each transaction gets a proposed category. Routine, clear-cut matches post to the books automatically.
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Step 04
Reviewed
Accountants review the books every week or every business day, correct anything that needs it and ask you about anything unclear.
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Step 05
Closed
Accounts are reconciled and the month is closed within five business days as standard.
Automated bookkeeping software features, and who checks each one
Features
Every feature below runs inside your own accounting software. The last column is the part a qualified accountant adds.
| Feature | What the software does | What the accountant does |
|---|---|---|
| Bank and card feeds | Imports every transaction each day through your accounting software's bank connections | Checks each account is connected and nothing is missing |
| Transaction matching | Matches payments to their receipts, invoices and bills | Resolves anything that matches two records, or none |
| Categorization | Proposes an account for each transaction and posts routine, clear-cut matches | Reviews categories every week or every business day and corrects any that are wrong |
| Receipt and invoice reading | Reads the supplier, date, amount and tax from each document | Follows up documents that are missing or unreadable |
| Payout splitting | Separates Stripe, Shopify and Amazon payouts into sales, fees and refunds | Confirms each payout agrees with the bank deposit |
| Recurring entries | Prepares routine monthly entries such as payroll journals and prepaid expenses | Reviews each entry before the close |
| Reconciliation | Compares the ledger with bank and card statements | Investigates differences and signs off the close |
Automated bookkeeping software comparison: three ways to automate
Side by side
| What matters | AI bookkeeping software you run | AI tools added to your ledger | Excello |
|---|---|---|---|
| Who reviews the categories | You or your team | You or your team | Accounting experts, weekly or daily |
| Unusual transactions | Left for you to decide | Left for you to decide | An accountant decides, and asks you when something is unclear |
| Reconciliation and close | Your team | Your team | Within five business days as standard |
| Where your books live | Often the vendor's own ledger | Your accounting software | Your own QuickBooks, Xero or Odoo |
| Software cost | A monthly subscription | A subscription for each tool | Included in the bookkeeping plan |
Automated bookkeeping software reviews: six questions to ask
Before you choose
AI bookkeeping software reviews tend to praise speed. These questions test what matters once the software is running on your own transactions.
Question 02
Who fixes the mistakes?
Every categorizer makes some. Find out whether you, the vendor or an accountant corrects them, and how often.
Question 03
Does it work in your ledger?
Check whether it runs inside QuickBooks, Xero or Odoo, or moves your books onto a platform of its own.
Question 04
Can it handle your payouts?
Stripe, Shopify and Amazon deposits combine sales, fees and refunds. Good software splits them out.
Question 05
What happens at month-end?
Categorizing is one part of the job. Ask who reconciles the accounts and who closes the month.
Question 06
What happens if you leave?
Find out whether your history stays in your own software or has to be exported first.
Is there free automated bookkeeping software?
What it costs
Automated bookkeeping software best practices
Getting it right
The same AI bookkeeping software best practices apply whether your team or Excello runs the automation.
Tidy the chart of accounts first
Automation copies your structure. Merge duplicate accounts before rules start coding thousands of transactions into them.
Connect every account
Every bank account, card and payment processor, so no activity turns up late at month-end.
Capture receipts at the point of purchase
A photo taken at the till matches in seconds. A receipt found weeks later takes a search.
Review every week
Small weekly corrections stop one wrong rule from repeating itself for a whole quarter.
Record payouts in full
Book sales, fees and refunds separately, so revenue and costs both show their true size.
Close every month
A monthly close turns categorized transactions into reconciled numbers you can rely on.
Bookkeeping automation inside your current accounting software
Nothing to migrate
Frequently asked questions
What is automated bookkeeping software?
Automated bookkeeping software imports business transactions, matches them to receipts and invoices, and categorizes them in the ledger with little manual entry. Excello pairs that software with accountants who review the books every week or every business day.
Can AI do bookkeeping on its own?
AI handles the repetitive part well, such as matching and categorizing routine transactions. Unusual payments, corrections, reconciliations and the month-end close still need an accountant's judgment, which is why Excello's accountants review the books every week or every business day.
Is automated bookkeeping accurate?
It is most accurate on routine, repeating transactions and less reliable on unusual ones. Excello posts clear-cut matches automatically, and accountants review everything every week or every business day and correct anything before the month is closed.
Do I need to buy extra software for the automation?
No, the automation is included in every Excello bookkeeping plan. You keep your own QuickBooks, Xero or Odoo subscription, and there is no additional software to buy for the automation to run.
Will I have to change my accounting software?
No. Excello's automation works inside the QuickBooks, Xero or Odoo account you already use, so your chart of accounts, history and admin login stay exactly where they are.
What happens when a transaction can't be categorized?
It waits for an accountant. At each review, Excello's accountants categorize anything the software could not place, and ask you about anything unclear, such as a payment with no receipt or an unfamiliar payee.
Is there free automated bookkeeping software?
QuickBooks, Xero and Odoo each include rules that categorize repeat transactions at no extra cost. Those rules save typing, but the review, reconciliation and close still fall to your team. Excello includes that work in every bookkeeping plan.