Docyt AI — AI Bookkeeping Tool
What is Docyt AI?
Docyt AI is an accounting automation platform that uses artificial intelligence to handle bookkeeping tasks for businesses. It provides finance teams and business owners with real-time financial insights, automates expense management, and offers continuous revenue reconciliation to improve financial accuracy and decision-making.
What sets Docyt AI apart?
Docyt AI stands out with its real-time financial insights and continuous reconciliation, giving businesses instant access to their financial health. It connects with over 40 revenue systems, making it invaluable for companies dealing with multiple payment processors. Franchise owners and multi-location businesses find Docyt AI particularly useful for managing complex accounting across entities from a single platform.
Docyt AI Use Cases
- Automate expense management
- Real-time financial reporting
- Streamline revenue reconciliation
- Accelerate month-end close
- Multi-entity accounting
Who uses Docyt AI?
Features and Benefits
- Automated Revenue AccountingDocyt AI pulls data from your POS system and continuously reconciles revenue, providing real-time visibility into daily earnings and profitability metrics.
- AI-Powered Transaction CategorizationThe system uses AI to automatically categorize more than 80% of common transactions, with generative AI handling the remaining 20% that typically require human review.
- Multi-Entity ReportingDocyt AI allows you to run multi-entity operations from a centralized platform, offering consolidated financial reports and the ability to drill down into individual entities.
- Industry-Specific KPI TrackingThe platform connects with 30+ business management systems to pull financial and non-financial data, enabling the generation of live reports on industry-specific metrics and KPIs.
- Automated Expense ManagementDocyt AI streamlines expense-related tasks including bill pay, credit card reconciliation, expense reports, and vendor payments, reducing manual workload.
Docyt AI Pros and Cons
- Automates bookkeeping and receipt capture
- Integrates seamlessly with QuickBooks
- Provides real-time financial reporting
- Offers bill pay and expense management features
- Uses AI to categorize and reconcile transactions
- Securely stores and shares financial documents
- Supports multiple business entities
- Learning curve for initial setup and customization
- Occasional delays in customer support responses
- Some users report occasional bugs or glitches
- Higher cost compared to basic accounting software
- Limited integration with non-QuickBooks systems
- Offshore support may lead to communication challenges
- Mobile app functionality could be improved
Pricing
- Docyt AI Companion
- White Glove Onboarding
- RevFlow
- ExpenseFlow
- ClosingFlow
- InsightFlow
- Multi-Entity Accounting
- Bookkeeping Email Support
- Dedicated Bookkeeping Expert
- Business Key Performance Indicators
- Docyt AI Companion
- White Glove Onboarding
- RevFlow (up to 3 revenue systems)
- ExpenseFlow (up to 100 bills/month)
- ClosingFlow (up to 250 custom chart of accounts)
- InsightFlow
- Multi-Entity Accounting
- Bookkeeping Email Support
- Dedicated Bookkeeping Expert
- Business Key Performance Indicators
- Budget Setting
- Docyt AI Companion
- White Glove Onboarding
- RevFlow (up to 5 revenue systems)
- ExpenseFlow (up to 150 bills/month)
- ClosingFlow (unlimited chart of accounts)
- InsightFlow
- Multi-Entity Accounting
- Bookkeeping Email Support
- Dedicated Bookkeeping Expert
- Business Key Performance Indicators
- Budget Setting
- Advanced unit economics alerts
- Benchmarking of KPIs
- Custom pricing
- Additional User Licenses
- High Volume of Transactions
- Unlimited Chart of Accounts
- Multiple Businesses
- Multiple Revenue Systems
- White Glove Onboarding