The End of Bookkeeping (And the Start of Something Bett… — Transcript

Yo, what's up, everybody? My name's Jake Dima. I've been running a bookkeeping company for the last five years, and these are my thoughts on AI.

AI. I loved the trajectory of AI. I thought ChatGPT was awesome. It answered my simple questions. But then, 2 years after it came out, and I can't remember exactly when it came out. It must have been like 2022 or 2023.

Um, I will be honest, guys. When ChatGPT first came out, I was unbelievably excited about AI. I loved the trajectory of AI. I thought ChatGPT was awesome. It answered my simple questions.

dumb mistakes. And I just couldn't envision a world where AI could actually replace a bookkeeper.

But then, two years after it came out, and I can't remember exactly when it came out. It must have been like 2022 or 2023.

seen and what I have um witnessed with AI. I know Jason Stats put a really cool video out there. Um maybe I'll post I'll link that video in in in the in the description.

Two years into it, the beginning of this year and towards the end of last year, I started to lose hope in AI. I really didn't think that it could replace a bookkeeper. It was stupid. It would make dumb mistakes. And I just couldn't envision a world where AI could actually replace a bookkeeper.

And I think it's an unbelievable opportunity for entrepreneurs and for employees, too, to become entrepreneurs.

Well, I'm here to tell you now that I actually think that bookkeeping can be replaced by AI. And I actually am a little bit nervous about the future of bookkeeping for employees.

if you're watching this video um and it's a month old, this video won't be applicable anymore because AI is changing so fast. Every single month that passes by, new stuff is coming out, new information is being leaked.

Okay? I'm a little bit nervous because what I have seen and what I have witnessed with AI. I know Jason Stats put a really cool video out there. Maybe I'll post, I'll link that video in the description.

want to ride this wave, if you want to take advantage of this opportunity to to create a business, to grow your business, to add real value into this world, then you have to be on top of the AI wave. And I'll I'll be honest, guys,

But what AI is capable of now, what it will be capable of in the future, is unbelievable. It's unbelievably scary.

I jump into it, guys, I just want to make you aware of the weekly group calls I'm doing Wednesdays at noon Eastern Standard Time. Actually, I'm posting this video today. Today's a Wednesday.

And I think it's an unbelievable opportunity for entrepreneurs and for employees, too, to become entrepreneurs.

everyone's going to share about their progress, about their wins, about their struggles, and we're all going to hold each other accountable, and we're going to come up with plans for each other, and I'm going to help each and every

But it's an incredible opportunity to rake in money from this. I think with AI now, it makes bookkeeping significantly easier.

working 30 to 35 hours a week and you're making over $200,000 a year. So, feel free and look at my website for that option. I also have a bunch of other resources on that website, so take a look at that. But, let's jump into my

So, in this video, guys, I want to share all of my thoughts on AI currently. And I will say, guys, if you're watching this video and it's a month old, this video won't be applicable anymore because AI is changing so fast.

is your sign. This is your warning that you need to go out on your own, and you need to start learning AI. You need to start You need to build up your business. You need to build up a client

Every single month that passes by, new stuff is coming out, new information is being leaked.

thing. I know too many bookkeepers that have been trying to start a business and they've been trying to start one for 2 3 years. And they just have never were never able to get off the ground. They never posted

And what was relevant a month ago or two months ago is not relevant anymore, okay? Everything is changing so fast, and it's hard to keep up.

You have to put the fears aside and you need to get started ASAP. Because entrepreneurs will win.

Honestly, it's hard to keep up, but if you want to be successful, if you want to ride this wave, if you want to take advantage of this opportunity to create a business, to grow your business, to add real value into this world, then you have to be on top of the AI wave.

they get the the they get the work done. Imagine a world where you tell your chatbot, your agent, whatever you want to call it to do the bookkeeping within QuickBooks.

And I'll be honest, guys, I'm behind, too. There's stuff that I haven't even figured out yet, but I want to be able to devote real time each day to understanding AI and how it can be applied in my business, okay?

But AI is changing rapidly where now it can enter into your computer, your local computer. It can log into your QuickBooks, it can log into your bank, it can log into your email, it can it can enter spreadsheets, it can

So, before I jump into it, guys, I just want to make you aware of the weekly group calls I'm doing Wednesdays at noon Eastern Standard Time. Actually, I'm posting this video today. Today's a Wednesday.

It does exactly what you want it to do. It will become your best, most valuable employee. And it really will act that way and it won't make mistakes.

I'm going to have my first call today. I'm really excited about it. It's honestly going to be more of like an accountability thing. There's going to be a Q&A. You'll come with your questions, but it'll be a live chat.

But I think that world is coming sooner than we think. I think that world where you have real employees on your computer doing actual work in record amount of time.

So, everyone's going to share about their progress, about their wins, about their struggles, and we're all going to hold each other accountable, and we're going to come up with plans for each other, and I'm going to help each and every person start a bookkeeping company and to be as successful as me, to follow my path, my model, so that you can do basically what I did in starting a business from a bookkeeping business from scratch, and getting it to the point where you're working 30 to 35 hours a week and you're making over $200,000 a year.

Um you know, there's it's too risky. Like if Like I'm not going to do it right now. I'm not going to have AI crawl on my computer yet because I worry about, you know, files getting deleted.

So, feel free and look at my website for that option. I also have a bunch of other resources on that website, so take a look at that. But, let's jump into my thoughts on AI.

wrong information gets leaked, if I get hacked. And so there are real concerns that I am you know, concerned about, but I really think that the security measures are going to be put in place very soon and I want to be ready for for

So, my first thought is that employees are toast. If you're an employee, and you're working at an accounting firm, or you're working as a bookkeeper at a bookkeeping company, you need to be afraid.

where you're putting the category. That world is done. That's going to be toast. That's going to be gone. You're no longer going to have to manually do anything because you're going to be able to tell your chatbot, your agent, whatever you want

And this is your sign. This is your warning that you need to go out on your own, and you need to start learning AI. You need to start building up your business. You need to build up a client base. You need to build trust with other business owners, and you need to get out now, and you need to start that process as soon as possible.

You might say, "Hey, I noticed the the balance sheet is not reconciled. Can you reconcile the Can you add all the transactions for this specific account and can you reconcile it? And can you fix any errors? And can you connect to

You need to stop dragging your feet on this whole bookkeeping business thing. I know too many bookkeepers that have been trying to start a business and they've been trying to start one for two, three years.

that stuff will still be extremely valuable. Um, I think the money is going to be made in setting up So like let's say a business owner comes to you, they want bookkeeping done and you have this AI agent, this AI bot

And they just have never, were never able to get off the ground. They never posted their website live. They never became active on social media because they were afraid of their employer.

And so as a bookkeeper, um, where I'm most valuable is managing all of these tools, these AI agents, these softwares, whatever it is, and getting the job done. And creating a system and an efficient process that I can relay to this AI agent. Um, that's

You have to put the fears aside and you need to get started ASAP. Because entrepreneurs will win.

um, to to basically delegate the work. Um, it's going to be like having real employees. And I think it's going to, um, make the entrepreneur even more valuable okay?

Employees will be disposable and entrepreneurs will win, okay? And this is why I say this, guys, because AI is getting so good.

things. You need to be able to spot red flags, errors, um, you know, organizational uh you know, cleanliness on the books.

Imagine a world where AI crawls on your computer, they crawl through the websites, they get the work done. Imagine a world where you tell your chatbot, your agent, whatever you want to call it, to do the bookkeeping within QuickBooks.

And so, um, the accounting skills are really important. If you thought you could start a bookkeeping company and you thought it was going to be easy, that you just had to learn a software, um, if somebody told you that, um, all

I used to see AI as something that was stuck on the ChatGPT window that just gave advice, that helped with brainstorming, that answered questions.

confident that world is going to be gone in a little bit. Uh, bookkeeping's going to be way too easy for, um, just a normal person to enter into the bookkeeping space. Um, and so that's why if you have accounting skills, if you

But AI is changing rapidly where now it can enter into your computer, your local computer. It can log into your QuickBooks, it can log into your bank, it can log into your email, it can enter spreadsheets, it can pretty much do whatever you want it to do.

But if you think it's just posting transactions, um, that might work this month. It might work this week, but it won't work next month. It won't work 12 months from now.

And so it acts like a real employee and it mimics what you do. You give it instructions, you create a process for it.

the brakes a little bit. Um, and I will say guys as well that the complex bookkeeping will not go away.

It does exactly what you want it to do. It will become your best, most valuable employee. And it really will act that way and it won't make mistakes.

that's still complex. It's really the simple bookkeeping that will go first. Um, it'll be the simple cash basis tax compliance bookkeeping that will go first and will be um, the easiest to replace with AI.

Now, there are some challenges I think that are going to come up with it.

Just know that um, pretty soon there's going to be a tool that can just do it for you. And there's going to be a software through using AI to get this um, done. So guys, that was a pretty quick video and a

But I think that world is coming sooner than we think. I think that world where you have real employees on your computer doing actual work in record amount of time.

But I am confident that right now is the time to wake up and start the business that you've been needing to start. If you already have a bookkeeping business, you just you need to get on get on this wave because I think it is a

I think that happens within 12 months. I really think right now the security functions are not in place.

my bookkeeping fees are going to be lower. I'm going to be more competitive. I'm going to take business from other local CPA firms that don't have the time to devote to AI. I'm going to be able to steal business from other bookkeepers

You know, it's too risky. Like, I'm not going to do it right now. I'm not going to have AI crawl on my computer yet because I worry about, you know, files getting deleted.

You want to be on the same page as me. You want to be listening to me and my thoughts on this because I think this is comparable to when the internet came out. This is comparable to when, you know, Bitcoin first became big. Like

I have a whole business. It's too risky right now for me to introduce that to my business because in a second my business could go up in flames and I could lose everything.

entrepreneur. Okay? All right, thanks, guys. Please like this video if you liked it. If you aren't subscribed to my channel, definitely be subscribed. I kind of post random videos on a random timeline. I'm not on a set schedule.

If the wrong email goes out, if the wrong information gets leaked, if I get hacked. And so there are real concerns that I am concerned about, but I really think that the security measures are going to be put in place very soon and I want to be ready for that when it comes out.

videos. Okay? All right, thanks, guys. I appreciate it.