17 May 2021

DATEV Simplifies Accounting by Using Artificial Intelligence

The cooperative takes yet another step towards automated accounting.

DATEV eG opens the door to a future where artificial intelligence (AI) can automate certain parts of accounting: with the service invoice automation. Interested tax consultants may use AI for accounting processes for digital incoming and outgoing invoices for selected clients. Vouchers are uploaded to the DATEV cloud and generate suggested accounting entries, which are then directly entered into the tax consultants’ accounting software. This increases the efficiency of the accounting processes regarding the cooperation of enterprises and consultancies.

The service invoice automation extends the established process of posting digital vouchers by AI based processes in order to determine and evaluate data quality. It can process both scanned paper as well as originally electronic vouchers. While all positions from electronic vouchers are read directly, digitalized vouchers are captured with optical character recognition (OCR).

Reliable Guide and Learning System

Corresponding to the invoice’s content AI generates suggested accounting entries including account allocations for business partner and issue. In order to determine the fiscal issue, the system regards both the given fiscal information on the voucher as well as similar former entries. Simple symbols show where manual intervention is required due to lacking data, or control is recommended due to high insecurity. Thus, service invoice automation leads its user specifically to accounting entry fields and suggested accounting entries which need to be revised.

When sending the accounting entries back to the DATEV cloud, AI learns from confirmations and corrections, thus continuously adjusting future suggestions and their qualitative evaluation. All operations required for recording of entries and controlling of the financial accounting can thus be permanently optimized.