Before You Replace Your Accounting Professional with AI

7 Questions To Ask Before You Replace Your Accounting Professional with AI

In this last post we talked about the new $100 million partnership between ChatGPT and Intuit. We know we need to be mindful of the financial decision risks before we dive in. But there is an upside to this integration that benefits both company leaders and their accounting professionals.

AI's Superpower

The hype around ChatGPT, Claude, Gemini, and the rest is mostly focused on productivity and offloading repeatable workflow tasks. What isn't buzzed about nearly enough is one of AI's superpowers — it teaches us how to become better thinkers. There has never been a time when critical thinking is more important.

When we use one of these tools as a quick answer ATM, our critical thinking skills are abandoned. We trade possibility for speed. Curious humans are pretty remarkable at asking what / why / how again and again. This is our untapped opportunity with the Intuit – ChatGPT partnership.

Imagine one of those times when you wondered what would happen if — you raised a product's price, you stopped offering a service, you understood how that line item was calculated, you get the idea. You knew your accountant or CFO could help, but you were hesitant to ask. Shouldn't you already know this? What will they think if I ask them?

AI tools are our patient, non-judgmental thought partner. No question is too foolish. They won't think less of you when you ask that uncomfortable question. As long as you ask, AI will answer. They will challenge your thinking. They help you ask sharper questions. When you don't understand the answer, AI won't roll their eyes and sigh. They'll teach you.

Who Does the Work

So, how can QuickBooks plus ChatGPT help us make responsible, factual financial decisions? By tapping into our curiosity and slowly asking thoughtful questions. The more we learn the more we know what we don't know. That's when we know it's time to turn to our accounting professional. AI teaches us how to make decisions, not how to replace our financial expert.

Here are 7 questions to help you decide who should do the work — your AI tool or your accounting professional.

1. Is this an interpretation or a decision?

AI is useful for interpreting and explaining data. Humans connect the dots and make informed decisions.

• I'm using AI to understand what my numbers mean
• I'm relying on my accountant or CFO to recommend actions that are right for my company

2. Does the outcome require context?

AI only has access to data. Humans understand your business.

• I only need an explanation. I won't be deciding based on it.
• The decision directly impacts my business operations so I'll discuss it with my accountant or CFO.

3. Could incorrect information create financial risk?

If risk is a possibility, only use AI if someone has the skills to identify the hazards. Humans assess risk potential and know how to avoid it.

• The information we're asking for doesn't impact any financial reporting or decisions.
• We aren't sure if what we're asking for could lead to inaccurate decisions so we'll ask our accountant or CFO to do the work for us.

4. Is AI performing an analysis or creating a business narrative?

AI is great at summarizing and organizing information. Humans provide business context to create a relevant story.

• AI is summarizing actual numbers, but it is not generating forecasts.
• Our accountant or CFO will validate the information and guide us through the next steps.

5. Am I reviewing AI outputs even though AI was cheerful and confident?

AI produced the answer. Humans don't accept confident answers without scrutiny and oversight.

• I verified the information I understand for obvious inconsistencies.
• I don't fall into AI's trap of overconfidence even when it's wrong. My accountant or CFO is the final word on accuracy and next actions.

6. Does this task belong to an experienced financial professional?

AI supports, not replaces, expertise. Humans are responsible for the outcomes.

• Accountants, bookkeepers, and CFOs remain responsible for classification, reconciliation, compliance, and the right actions.
• AI-should not create forecasts, do reconciliations, change numbers, or recommend strategies.

7. Am I using AI to help me ask better questions and become a more curious thinker?

AI is continuously training its model with your questions. Humans use curiosity to train their thinking skills.

• AI encourages us to challenge what it's telling us, not to treat it like a quick answer ATM.
• I'm becoming a more curious, thoughtful strategic thinker and effective leader.

Wrapping It Up

Humans are valued when they say, "I don't know, but I'll find out." AI hasn't mastered that phrase yet. One of the greatest contributions AI can make is teaching us to ask better questions and demand better answers. Curiosity hasn't gone out of style.