XBert's AI-powered business alerts unlock information from bills, invoices, receipts and other attachments in Xero to enhance our risk alerts related to Australian Business Numbers (ABNs), Goods and Services Tax (GST) status and cancelled business registrations.
XBert monitors the Australian Business Register (ABR). When you know the correct ABN for an entity, you can confirm active or cancelled business registrations and the GST status of suppliers and customers. You'll know that any payments made matches an active registered entity whether it be a trust or other associated company, and that GST is paid only to those eligible to charge it.
Don't worry if you're not based in Australia, we're busy setting this up for your region's tax rates and business registers, and it will be available soon.
XBert uses Optical Character Recognition (OCR) to scan or parse your attachments in Xero. Exciting things are coming driven by our advancements in AI for attachment parsing. We're working on alerts for banking and invoice fraud risk; outdated contact records; if an ABN is different to what's on your contact record, is used against multiple contacts or has changed since the last bill or invoice.
We're busy developing automation processes that will eliminate the laborious task of manually updating contact records.
XBert automates routine manual bookkeeping checks by auditing and analysing your Xero accounting software data to find potential errors, anomalies, patterns and unusual activity before it's too late.
Load your attachments into Xero and let XBert do the rest!
What if I don't have ABNs on my contact records?
XBert's AI engine scans attachments like bills and invoices added manually or automatically by reader apps to Xero for ABNs then alerts you to issues.
Often, your contact records don't reflect government business registers; sometimes trading names are used rather than registered entity names and ABNs aren't added. Businesses can change their GST status at any time as they either fall below or move above the threshold. Businesses can also cancel their registration at any time.
XBert double-protects you by cross-checking and comparing the information coming in, rather than only relying on what's already on Xero contact records, which may be outdated or incorrect.
Use XBert to keep your contact records up to date and minimise cash flow problems due to delayed invoice payments or damage and associated high risks from trading with unregistered businesses.
Small mistakes can mean big money losses for your business, or your clients' businesses if you are a bookkeeper or accountant. Those mistakes may get repeated and take time to fix. In the meantime, cash flow is impacted, and in the worst cases, that mistake money is gone for good!
Someone could make a typo when entering data or an ABN, add GST to a bill or invoice when it shouldn't be there or allocate a wrong account code to transactions that then has tax implications. There's also the chance you could be subject to fraud with someone charging GST when they're not registered to charge it, deliberately providing an incorrect ABN or continuing to trade as a cancelled business.
XBert automatically alerts you to errors, and by continually monitoring the ABR, you'll know if there are any issues related to the ABN, GST status or businesses registration for a contact. You'll save money and time that is better spent elsewhere.
Add attachments to Xero so XBert can do the hard work and protect your business or your clients' businesses.
To further streamline your bookkeeping workflows, save you money and keep you a step ahead in business, we have big plans for our attachment parsing. Stay tuned for more exciting announcements.