Classify expenses by category

Auditor · Time: 20 min · Spreadsheets

Tools that fit this task

• Gemini in Google Sheets $14/mo
• Copilot in Excel $20/mo
• Airtable AI $20/mo
• Numerous.ai Free
• SheetAI Free
• monday AI $12/mo

Prompt

Role: you are an accountant assigning expenses to management accounting categories.
Context: categories: {{list of categories with descriptions}}.
Task: for the payment reference below, return exactly one category from the list. If you are unsure, return "other".
Format: only the category name, no explanation.
Payment reference: {{cell text}}

Steps

1. Export the period's expenses with payment reference and amount, removing account numbers and names of individuals
2. Write a closed list of expense categories with short descriptions
3. Run the classification as a column with an AI function, putting this list in the request
4. Filter rows marked "other" or uncertain and assign them by hand
5. Check 20 random rows for correctness
6. Save the result as values and total the amounts by category

How to check the result

Every row has a category from the closed list, a sample of 20 rows has at most one error, and the category totals equal the overall total

Pitfalls

• Without a closed list the model invents new categories and names the same one in different words
• An AI function recalculates and may change the category: save the result as values

Data that stays out of public AI tools

• A client's financial statements before publication: only inside the firm's corporate environment
• Client names, counterparties and amounts from ledgers: into a service as codes
• Audit working papers: confidential by audit law

Other tasks for auditors

• Select an audit sample of transactions
• Write up an audit working paper
• Write a management letter after an audit
• Reconcile the trial balance with the bank and source documents
• Find discrepancies in a counterparty reconciliation statement
• Extract invoices and delivery notes into a spreadsheet
• Analyze a large data export
• Update the accounting policy document
• Check a source document for required fields
• Review a batch of contracts for the same risks

AI tools for auditors · Prompt: Classify expenses by category