What AI does well
Speed and volume
- Pulls data from your ledger and connected tools
- Matches and categorizes transactions every day
- Builds statements and dashboards automatically
- Highlights unusual movements between months
Automation · Closing the month
Financial reporting AI tools, with accountants signing off the numbers.
Excello pairs financial reporting AI tools with accountants: a live dashboard on your QuickBooks, Xero or Odoo shows day-to-day numbers, and a reviewed balance sheet, profit and loss and cash flow statement come with every month-end close.
Every statement is built from a reconciled ledger, and the month closes within five business days as standard.
Numbers you can act on, checked before they reach you.
- Reporting
- Dashboard live
- Statements every close
- Extras by plan
- Closed within five business days
How can AI help with financial reporting?
The division of labor
AI makes reports faster to produce. An accountant makes them reliable. Good software for financial reporting needs both halves.
What needs an accountant
Accuracy and judgment
- Reconciling every account before reporting
- Posting accruals, prepayments and depreciation
- Deciding how unusual items are classified
- Checking the statements before they go out
The reports Excello provides
What you get
Three statements with every close, a dashboard that is always on, and more detail on the Growth and Scale plans.
| Report | What it shows | When |
|---|---|---|
| Live dashboard | Day-to-day balances and trends, from a reporting tool Excello connects to your ledger | Always on, current as your books are updated daily |
| Balance sheet | What the business owns, owes and holds in equity at month-end | Every close |
| Profit and loss | Income, costs and profit for the month | Every close |
| Cash flow statement | Where cash came from and where it went | Every close |
| Month-on-month comparison | This month next to earlier months | Growth and Scale plans |
| Receivables and payables aging | Who owes you, and whom you owe, by how overdue | Scale plan |
| Accountant commentary | Short notes on what changed and why | Scale plan |
The three statements, and the question each one answers
Reading your reports
Balance sheet
What do we own and owe?
Cash, receivables and equipment on one side; card balances, payables and loans on the other; and the owners' equity that makes them balance.
Profit and loss
Did we make money?
Income for the month, less the costs of earning it and running the business, down to the profit or loss at the bottom.
Cash flow statement
Where did the cash go?
Cash from operations, from investing in equipment and from financing, which explains why profit and the bank balance can differ.
From ledger to report in four steps
The process
-
Step 01
Recorded
Transactions are recorded and matched in your ledger every day, keeping the dashboard current.
-
Step 02
Reconciled
At month-end, every account is agreed to its statement and accruals and adjustments are posted.
-
Step 03
Reviewed
A qualified accountant checks the statements against the reconciled ledger before sign-off.
-
Step 04
Delivered
Your balance sheet, profit and loss and cash flow statement arrive with the close, within five business days as standard.
Best financial reporting software: the packages compared
Side by side
| What matters | Reports built into your ledger | Add-on reporting tools | Enterprise reporting suites | Excello |
|---|---|---|---|---|
| What you get | Standard statements | Dashboards and custom reports | Budgeting, consolidation and reporting | A live dashboard and three statements every close |
| Who keeps the ledger right | Your team | Your team | Your finance team | Excello's accountants, with a qualified sign-off |
| Who checks the numbers | Your team | Your team | Your finance team | An accountant, before sign-off |
| Typical user | Owners reading their own books | Finance staff who build reports | Companies with a finance department | Founders who want reviewed numbers |
Financial reporting software for QuickBooks, Xero and Odoo
Your ledger
Frequently asked questions
What are financial reporting AI tools?
Financial reporting AI tools pull data from accounting software and connected apps, build statements and dashboards automatically, and highlight unusual changes. Excello pairs them with accountants who reconcile and review the numbers before each month's statements are delivered.
Which financial reports does Excello provide?
A balance sheet, profit and loss statement and cash flow statement with every month-end close, plus a live dashboard connected to your ledger. The Growth plan adds a month-on-month comparison, and Scale adds aging reports and a written accountant commentary.
How current is the dashboard?
It stays as current as your books. The dashboard is connected to your QuickBooks, Xero or Odoo, which Excello updates every day, and the monthly statements come from the reconciled ledger at each close.
Can AI produce financial statements on its own?
It can produce them, but it cannot make them right. Statements are only reliable once accounts are reconciled, accruals posted and the numbers reviewed, which is why a qualified accountant checks Excello's statements at every close.
When do I receive my monthly statements?
At each month-end close, which Excello completes within five business days as standard. If a missing statement or an open question will hold the close up, you hear about it early.
Which accounting software does the reporting work with?
QuickBooks, Xero and Odoo. The dashboard connects to your ledger and the monthly statements are prepared from it, so your financial data stays in your own account throughout.