AI bookkeeping: how it works in practice

AI bookkeeping sounds like a big thing, but in practice it is mostly calm. You forward a receipt, and it is booked before you think of it again. You get a question when something does not add up. And when the quarter is over, your VAT return is already prepared. In this article you can read how this works at Boekhoudlive, with Fenna as your AI bookkeeper and an accountant who checks the work.

The short answer

AI bookkeeping means that artificial intelligence does the daily work, such as reading receipts, suggesting bookings, matching payments and answering questions, while an accountant checks everything and stays responsible for your figures and tax returns. Would you like the explanation, security and costs first, all in one place? Then read our page about AI bookkeeping.

A week of AI bookkeeping

This is what an ordinary week looks like for an entrepreneur who works with Fenna.

• Monday, 07:12. On Sunday evening you emailed three receipts. Fenna has read them, recognised the supplier and booked them to the right expense category, with the right VAT.
• Tuesday, 14:30. You type in the chat: "Quote for Bakkerij Jansen, new website, 2,400 euros." Fenna prepares the quote. You check it and send it.
• Wednesday, 09:05. Fenna matches the payments from the bank to the right invoices and receipts. There is one payment she does not recognise. She asks you about it, instead of guessing.
• Thursday. An accountant reviews the week's bookings and corrects one special item: a laptop that is better booked as an investment than as a normal expense.
• Friday. In your portal you can see how much VAT you need to set aside. No surprises at the end of the quarter.
• Sunday, 22:40. You ask Fenna whether you can deduct a lunch with a client. You get an answer straight away, even on a Sunday evening.

What stands out? You do very little, but you always know where you stand. We call this live bookkeeping: AI bookkeeping where your administration is up to date every day.

What happens with your VAT return

For many entrepreneurs, the VAT return is the moment when bookkeeping suddenly becomes urgent. With AI bookkeeping it is actually the calmest moment, because the work has already been done.

1. Throughout the quarter Fenna processes your receipts, invoices and bank transactions as they come in.
2. Right after the quarter ends she prepares the return, with all sections filled in.
3. An accountant checks the return and the bookings behind it.
4. You approve it in your portal, with one click.
5. We file it, well before the deadline. Fenna never files anything herself.

Where AI still trips up in practice

AI is strong at work that comes back again and again. But some situations need someone who knows your business and can apply the rules correctly. This is exactly where the accountant is needed:

• Crumpled or handwritten receipts. If an amount or VAT rate is hard to read, Fenna would rather check with you.
• Private and business costs mixed up. A fuel receipt or a dinner can be either. You know which it is, the AI does not.
• Foreign invoices. Reverse-charged VAT, VAT from another EU country or no VAT at all: this has to end up correctly in the return.
• Investments. You book a laptop or a van differently from normal expenses, and sometimes there is a tax deduction available.
• Choices with tax consequences. Setting up a private limited company (BV), hiring staff or a company car: that is advice, not a booking.

That is why we deliberately do not offer fully automatic bookkeeping without a human. The AI does the work, the accountant keeps the overview.

How to start with AI bookkeeping

1. Calculate your price with the four questions below, or put together your package on the sign-up page. You see the cost straight away: from € 50 a month (excl. VAT), with e-Boekhouden, VAT returns and income tax return included.
2. Introduction to an accountant, within 1 working day.
3. We connect everything: your bank, your accounting software and your own email address for receipts. If you use other software, we move you to e-Boekhouden or Moneybird for free.
4. Fenna gets started. You are usually live within 1 to 2 weeks.

Frequently asked questions

How much time does AI bookkeeping still cost me?

At Boekhoudlive you forward your receipts, answer a question from Fenna now and then, and approve your tax returns. Fenna and an accountant do the booking, matching and preparation.

What if Fenna books a receipt wrongly?

If she is not sure, she asks you instead of guessing. And an accountant checks everything that matters before a tax return goes out. So a mistake is corrected before it has any consequences.

Do I have to switch to different accounting software?

Only if you do not use e-Boekhouden or Moneybird now, because that is where Fenna works. If you use SnelStart, Jortt, Exact or other software, we move your administration over for free.

When can I start with AI bookkeeping?

Right away. The best moment is just after a VAT return or after the end of the financial year, but you can start at any time. You are usually live within 1 to 2 weeks.