AI Financial Review Features

AI Review in Xenett helps accounting teams quickly identify issues in financial statements by automatically analyzing Balance Sheet and Profit & Loss accounts. Instead of manually validating every account, AI Review highlights which accounts are healthy and which require attention, directly within the close workflow.

AI Review is especially useful when you want to:

· Reduce manual review time during Monthly, Quarterly, or Annual Close

· Quickly identify problematic accounts

· Validate balances after task completion

· Detect misclassifications, missing details, or unusual movements

· Review financials without switching back and forth to the accounting software

AI Review is an automated analysis engine built into Xenett’s Financial Review.

When you run AI Review:

· Xenett analyzes accounting data pulled from QuickBooks or Xero

· Each account is evaluated based on predefined and intelligent checks

· Findings are displayed directly against each account

Accounts are clearly marked to indicate whether they are:

· All good

· Require attention

AI Review is available inside Close projects.

To access it:

1. Open a Monthly, Quarterly, or Annual Close project.

2. Go to the Financial Review section.

3. Navigate to Balance Sheet or Profit & Loss.

4. Click Run AI Review.

Note: AI Review is currently in beta and may be available as an add-on in the future.

AI Review analyzes key Balance Sheet accounts and highlights common issues.

AI Review can identify:

· Uncleared transactions

· Changes made after reconciliation

· Forced or modified reconciliations

From the findings, you can:

· Drill down into affected transactions

· Open bank registers or reconciliation reports

· Take corrective action immediately

. Select multiple transactions and perform bulk actions

. Reclassify transactions in bulk

AI Review helps detect:

· Outstanding receivables

· Unapplied or misapplied payments

· Data inconsistencies affecting AR balances

AI Review identifies issues such as:

· Overdue bills

· Unapplied payments

· Bills recorded as expenses instead of bill payments

These findings help resolve AP issues without manually reviewing vendor reports.

AI Review highlights:

· Transactions stuck in undeposited funds

· Items that should have been cleared to bank accounts

AI Review also evaluates Profit & Loss accounts to surface posting and classification issues.

Common findings include:

· Expenses posted to parent accounts instead of sub-accounts

· Transactions missing class or location

· Entries missing vendor, customer, or name details

· Misclassified expenses

You can drill down directly from the finding to review and fix the underlying transactions.

At each account level, you can add supporting guidance, including:

You can attach files at the account level:

Xenett supports external GL reconciliation in addition to reconciliations performed in the accounting software.

If transactions change later in the accounting system, Xenett highlights discrepancies, helping teams quickly identify reconciliation issues.

While reviewing Profit & Loss accounts, you can use View Snapshot:

· Hover over any account amount

· Click View Snapshot

· View a summarized GL by vendor or category

· Compare current period with prior periods

This helps reviewers understand account composition without opening full ledgers.

Flux Analysis allows you to define expectations for specific accounts.

Examples include:

· Expense should not exceed a fixed dollar amount

· Expense should be a percentage of total revenue

· Expense should not increase beyond a defined percentage compared to historical averages

Once expectations are defined:

· Run AI Review

· Xenett evaluates actual results against expectations

· Accounts are flagged automatically when thresholds are breached

Using AI Review helps teams:

· Gain immediate visibility into financial issues

· Focus effort only where attention is needed

· Reduce repetitive manual checks

· Improve review consistency across clients

· Complete closes faster with higher confidence

AI Review in Xenett brings intelligence and visibility into the close process by automatically highlighting financial issues at the account level. By combining AI-driven findings, drill-down access, snapshots, and flux analysis, teams can review financials faster, fix issues sooner, and deliver more reliable close outcomes.