Classify expenses by category

Economist · Time: 20 min · Spreadsheets

Tools that fit this task

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

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

• Product cost and margin: a trade secret, into a public service only the table structure
• Budgets and plans before approval: only inside a corporate environment
• Salaries of specific employees in calculations: replace them with averages or codes

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• Analyze budget variances, actual versus plan
• Write the financial section of a business plan
• Analyze a large data export
• Turn a table into a clear chart
• Build a 12-week cash flow forecast
• Get a spreadsheet formula from a plain-language request
• Design a KPI dashboard for the business owner

AI tools for economists · Prompt: Classify expenses by category