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Use the Finance AI for financial insights

by Intuit•6• Updated 2 months ago

The Finance AI in QuickBooks Online Advanced helps you manage your business finances. It uses financial data to give you a summary and recommendations to help you plan ahead. It can collect data and insights across all your companies, not just one. You can also chat with the Finance AI to get even more help. 

Features of the Finance AI tool

The Finance AI tool shortens analysis cycles and improves day-to-day productivity by providing:

  • Financial summaries: Get overviews of key performance highlights, income and expense analysis, cash flow, balance sheets, and budget comparisons.
  • Data analysis: Understand your reports, budgets, and forecasts more clearly.
  • Detailed data breakdowns: View current and previous month’s data, year-over-year comparisons, forecasts, and significant changes in your finances.
  • Data drill-downs: Dig into specific areas of your data, such as income by customer or class.
  • Daily updates: Access daily updates to your financial data (which you can also refresh manually).
  • Comparisons: Compare your data against industry standards, your own goals, or budgets.
  • Recommendations: Receive insights designed to help you increase income and reduce expenses.
  • Multi-entity reporting: Access monthly performance summaries across multiple entities for a parent-level view of performance, which reduces manual consolidation efforts and enables more confident decision-making for complex organizations.
  • Contextualization: Contextualize actuals against budgets, goals, and forecasts—including balance sheet forecasting—to identify potential deviations earlier and course-correct with confidence.

Open and customize your financial summary

  1. Go to Reports Icon image of the Reports menu. and select Standard reports (Take me there).
  2. Select Review Summary.
  3. From the Report period â–Ľ dropdown, select a time period for your summary.
  4. From the Accounting method â–Ľ dropdown, select the appropriate accounting method.
  5. Select Apply filters.
  6. Select Edit and export to PDF.
  7. Make any changes to the text of the summary. Remove any widgets or recommendations you don’t want.
  8. Select Generate PDF to create your customized summary.