AI TOOL PROFILE
Accounts Draft | Accounting Automation Software
- Finance and Accounting
- Workflow Automation
- Small accounting practices
- Mid-market accounting firms
- Chartered accountants
- Audit professionals
Pricing
A free tier is available with 10 tool uses. The Professional plan is £65 per month for unlimited tool usage. Custom pricing is available for teams requiring multiple seats.
At a glance
- Best for
- Small accounting practices, Mid-market accounting firms, Chartered accountants, Audit professionals
- Key use cases
- Client Onboarding, Bank Reconciliation Preparation, Audit Preparation, Administrative Routing
- Integrations
- Companies House data import, Excel export, PDF export, Word export
- Official website
- Visit Accounts Draft tools official website
How AI is used
Accounts Draft is a suite of AI-powered tools designed for accountants and accounting practices. It helps automate tasks such as converting bank statements to Excel, extracting invoice data, and generating standard compliance documents.
The platform is designed for accounting professionals who handle repetitive administrative work. It supports various stages of the accounting lifecycle, from initial client onboarding and fee quoting to the review of draft accounts and tax research.
Buyers should note that the tool is browser-based and emphasizes data privacy by using secure API connections that do not train AI models on client data. Users should confirm if the specific document templates, such as ICAEW-compliant engagement letters, meet their local regulatory requirements.
Key Features
Bank Statement Processing
Converts PDF bank statements into Excel and supports auto-allocation of transactions to accounting nominals.
Client Onboarding Automation
Auto-populates engagement letters, KYC checklists, and AML risk assessments using Companies House data.
Accounting Note Review
Compares draft accounts with prior year data to identify missing disclosures or inconsistent policies based on FRS standards.
Invoice Data Extraction
Processes PDFs and images of invoices to extract data into Excel tables.
Post Router
Identifies client names and references from uploaded post to rename files and route them to staff members.
AI Tax Assistant
Provides a tool to ask tax questions with a specialized layer that includes source citations.
Company Secretarial Tools
Generates formatted board minutes for share allotments and transfers.
Use Cases
Client Onboarding
Generating six essential onboarding documents and fee quotes using auto-filled company data.
Bank Reconciliation Preparation
Converting PDF statements to Excel and using the Code-Up feature to support the creation of a trial balance.
Audit Preparation
Comparing current draft accounts against previous years to check for policy consistency and missing disclosures.
Administrative Routing
Using the Post Router to organize and assign incoming client mail to specific team members.
Integrations
- Companies House data import
- Excel export
- PDF export
- Word export
FAQ
Is client data safe in Accounts Draft?
- The platform uses bank-level encryption and secure API connections. It states that client data is not used to train AI models.
What is the difference between the Free and Professional plans?
- The Free plan allows for 10 tool uses, while the Professional plan costs £65 per month and provides unlimited tool usage.
Can it help with client onboarding?
- Yes, it can generate engagement letters, KYC documents, and other onboarding forms auto-populated with data from Companies House.
Source category: Finance & Accounting
Source subcategory: Workflow Automation
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