The Best AI Finance Tool Experts Will Ever Need (Free File)

Financial experts wish they had this AI tool sooner.

Reconciliations, variance analysis, and debtor management are time-consuming tasks finance professionals juggle on a regular basis. But the new Copilot for Finance add-in, available for Excel 2016 onwards or with a Microsoft 365 license, can do these boring tasks for you, so you can focus on driving business growth. In this video, I'm going to show you how to install the add-in and use it.

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⏲ TIMESTAMPS
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0:00 NEW tool for finance professionals
0:30 The biggest headache for pros in finance
1:59 Adding Copilot for Finance
2:44 The first way of using Copilot for Finance
4:14 This saves hours of work
6:31 The second way of using Copilot for Finance
7:31 The third way of using Copilot for Finance
7:54 The best productivity app

#Excel #Copilot #CopilotForFinance

[MyOnlineTrainingHub]

❓What are your biggest challenges in financial reconciliations and data management that you hope this tool will address?

[SaaSLTDDeals]

Wow, this new tool for finance professionals is a game-changer! Saving time on reconciliations and variance analysis is a dream come true. Great stuff!

[MeTube]

I like her voice, it relaxes me, it calms me down. And as a bonus you explain very well.

[ivanmamchych]

Thanks for the video. Actually a reconciliation can be made via a classic Pivot Table. Just push these two datasets to PQ, invert paid amounts, name both amounts' fields similarly and append both queries. Then load it to Pivot Table and place Invoice ID as the leftmost row field, Amount to data area, the rest of fields elsewhere .That's it. Just filter Invoice ID by values: the ones that equal to zero will mean matched. There can be more complex analysis scenario in such Pivot Table. I've been using this technique for various reconciliations and find it pretty flexible and powerful.

[piggybankaccountant]

As a CPA I really wish my team and I had access to such tools back then. It's always a struggle to reconcile bank statements to our ledgers. I'm sure this will help professionals. AI is coming in strong. I think AI is just starting, it has major inaccuracies etc. But this is a great first step. Good show on the video!

[tanjasahaidak]

I'm very greateful four your great explanation, free tutorials and materials! Wish you more likes and followers!

[theharsh]

Thank you for amazing information. I would not have known these things if it wasn't for this channel. super helpful.

[rajanpradeepankarath]

Hi Mynda, this does not work for me. I added the add in, and did a reconciliation on my small 5 item test case. I deliberately made 3 items to match, and left the other 2. Copilot found 1 match. On each of the other items, it saw the same figure in table 2. Meaning copilot assumes the matched figure as the figure for all other items in the 2nd table, though my original table has their own figure. I removed the addin, reinstalled, tried again, but still no joy

[cathykate]

This is an interesting Add-In for Excel, thank you! If you've seen it, it works similarly to Julius AI - which can perform analyses on data on Excel and Google Sheets. I would love to see a review on that AI tool next!

[jonr]

I have hope for the future, I really do.

But for now I could do this IN LINE, far more useful, with some lookup formulae.

I don't trust any AI that MS spits out that is trying to solve a common problem but ... isn't actually reducing time but ADDING material the human has to understand, interpret and validate.

But thanks Mynda, it's not your problem, the vid is well received!

[Ray-ezpu]

Does the reconciliation copilot address the data formatting differences, eg text versus numbers in invoice id example? Thanks.

[mttyvqx]

thank you always I'm always impressed by your videos. For your information, what video editing software do you use?

[BaSYaVSkI]

Great video, thanks for sharing.
Question 1:Do both parts of reconciled data have to be in the same file ?
Question 2: With addition of new data (new sales and invoices) are you able to continue the reconciliation, or a new process should be set again ?

[adlaialmeida]

As a Revenue /product accountant this is so useful. Will you be doing a video once Co-pilot for finance is up and running ?

[_logicking]

Copilot seems to be lowering the barriers to entry and at the same time empowering the experts.

[happymystic]

Thank for giving us some fabulous insight into this feature. There is one question I have. Does this add-on upload any data to the copilot server or does all the work happen on the computer of the user? Uploading corporate data to a copilot server may be something that is prohibited by data handling policies. Thank you, cheers. 😊

[Acheiropoietos]

Oooh, I’m gonna win some brownie points on Monday. Thanks Mynda! ❤

[IamTheReaper]

Wow, this will save hours upon hours of work! Thanks

[panksimus]

Yes, we all know that it's easily doable manually. But the point is, it's the beginning. Copilot will get powerful over time.

[pieterrep]

I get no matches at all,
I am using your template.?
Does copilot not worrk for excel 2019?