Accounting / Professional
AI drafts of variance explanations and client replies for accounting firms
This page explains how Phak AI drafts variance explanations, replies to client questions, and summaries of new tax announcements from your firm's number files and accountants' notes. Every draft says which file the data came from, and a coordinator or accountant always edits it before it is sent. It suits firms that report to parent companies or corporate clients and rely on a few coordinators to explain the numbers.
Please draft an explanation of Client A's higher selling expenses versus last year for this quarter.
Done. Most of the increase is from freight and advertising. Lines with no recorded reason are flagged for review.
Source: Client A trial balance vs last year.xlsx and accountant notesI've reworded paragraph two. Sending it to the account manager before it goes out.
Why writing variance explanations takes so much firm time
Parent companies want explanations fast
Beyond the numbers, they need to know why each line changed.
A few coordinators carry the load
Few people understand both the numbers and the report format, so the work piles up on one person.
Clients ask the same questions
Clients ask similar things every month, but replies are typed from scratch each time.
New announcements need a client summary
Each new tax announcement must be rewritten into a message clients can understand.
How AI drafts variance explanations
We set it up with your firm based on the report formats and charts of accounts you actually use.
Gather number files and notes
Use accounting software exports across periods and accountants' notes on the reasons.
Agree the chart of accounts mapping
Map each client's chart of accounts to the lines of the report format, and keep versions your firm approves.
Get a draft with sources
Each line of the draft cites the file and source entries. Lines with no supporting reason are flagged.
A person reviews before sending
A coordinator or accountant edits and confirms before it goes to the client or parent company.
Drafts your team can ask for
What we measure
Measured with your firm's own data, before and after.
- Hours spent preparing reports for parent companies
- Rounds of edits before a draft is sent
- Time from receiving the numbers to sending the explanation
Scope of variance explanation drafts
What Phak AI does
- Phak AI drafts variance explanations from your firm's number files and notes
- Phak AI drafts client replies and announcement summaries from the knowledge base
- Phak AI shows the source of every number in a draft
What it does not do
- It does not send drafts to clients or parent companies without a person reviewing them
- It does not produce finished reports automatically
- It does not give tax or legal opinions in place of accountants
Frequently asked questions
Does the AI make up reasons for variances?
No. It drafts from the numbers and notes that exist. Lines with no supporting reason are flagged for an accountant to answer, instead of guessing.
What does the assistant draft from?
It drafts from the numbers and notes your firm already has, such as a trial balance compared with last year and the accountant's notes. Each draft cites its source so the reviewer can open the original. To see it with your own files, talk to the Phak AI team.
Who is responsible for what is sent?
Your firm, as before. Our rule is AI drafts, people decide. Every draft passes through a coordinator or accountant before it is sent.
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