AI for Accountants Subiaco

Yes, and that is usually where Subiaco firms start. The ASX quarterly activities and cash flow report is due within a month of quarter end, and the tight part is rarely the form itself, it is getting every bank account, credit card and intercompany loan coded before anyone can total operating and investing cash flows. The dedicated AI keeps each explorer's Xero file reconciled through the quarter, so on the first business day of the new quarter it can produce draft 5B workings: exploration and evaluation spend split between expensed and capitalised, staff and administration costs, proceeds from issues of equity, and the related-party payments line with the underlying transactions listed. Your CFO or company secretary client still reviews and finalises it.

It follows whatever policy the company has adopted. If your client capitalises exploration and evaluation expenditure by area of interest, the AI codes drilling, assays, geology contractors, heritage surveys and tenement rents to the right project tracking category and keeps a running schedule by tenement. If the policy is to expense, it still tags spend by project so the directors can see where the money went. It flags items that need a human call, such as a relinquished tenement that may trigger an impairment, and it separates exploration spend that may be deductible under the tax rules from general corporate overhead for your tax working papers.

When a raise completes, the AI matches the funds received to the placement tranches or entitlement acceptances, reconciles the lead manager's settlement statement, and posts directly attributable costs such as lead manager fees and legal fees against issued capital rather than profit and loss, in line with your firm's approach. It builds a schedule of capital raising costs for the five-year deduction and flags the GST question for review: a capital raise is a financial supply, so it tests the costs against the financial acquisitions threshold and highlights where reduced input tax credits may apply. You make the final call on each line.

Junior explorers tend to have more option classes than staff, and the option reserve is where year-end audits most often find loose ends. The AI keeps a reconciliation between the option register and the general ledger: new issues to directors, lead managers and employees, the share-based payment expense as it vests using the valuation you or your valuer supply, exercises that move value from the reserve into issued capital alongside the cash received, and expiries or lapses that are transferred out under your client's accounting policy. It does not value options itself; it makes sure the numbers you have agreed are posted correctly and consistently.

Yes. A specialist's bank account is a mess of health fund deposits, Medicare benefits, DVA payments, patient gap payments through the rooms' terminal and occasional hospital sessional fees, often batched so one deposit covers many procedures. The AI reads the remittance advices, matches each deposit to the invoices in the practice billing export, and codes the result into the specialist's Xero or MYOB file. Unpaid gaps and rejected fund claims come back to the practice manager as a clean exception list instead of surfacing six months later at tax time.

No, and it is not designed to. Those are professional judgements that sit with you. What the AI does is assemble the evidence you need to make them quickly: the share of each specialist's income by hospital, fund and referral source for the results and 80% tests, the actual cost base of the service entity (rooms rent on Hay Street or Salvado Road, reception and billing staff, equipment and consumables) so you can check the service fee is commercially justifiable, and a year-on-year comparison so a drift in the mark-up is visible before the ATO sees it. Your firm reviews, decides and documents.

Onshore. Each dedicated AI runs single-tenant on AWS in the Sydney region, so data stays in Australia and is never pooled with another firm or used to train models for anyone else. That matters twice over for a Subiaco practice: unreleased raise terms and drilling results are inside information until they hit the ASX platform, and the names and item numbers on a surgeon's remittances are health information, which the Privacy Act treats as sensitive. Access is scoped to the files and mailboxes you connect, and every action is logged.

No. It prepares, a registered tax agent or BAS agent reviews and lodges. Your obligations under the Tax Agent Services Act and the Code of Professional Conduct stay exactly as they are, including the duty to take reasonable care. The audit trail helps here: you can see which transactions the AI coded, which it flagged for review and which a person changed, which is useful evidence of supervision for your own quality files.