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ChatGPT Basics for Accounting (Part 2) - AUG 2026 — Transcript

by Hector Garcia CPA · 10,913 words · 1,495 segments · language en · Watch on YouTube

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0:28Hector, you'll need to unmute yourself.
0:33Thank you. Welcome everybody to Chad GPT
0:35basics for accounting part two. Now, one
0:39really really important piece that I
0:42want to make sure that we go over is we
0:45uh go into the document section of the
0:48live
0:50webinar here and uh make sure you click
0:53on the slides, have those slides handy
0:56and available to you uh because we're
0:58going to make some references to some
1:00links and some stuff and you need to
1:02have those and the RAM team uh is going
1:05to load up that uh the PDF version of
1:08the slides. ites uh for you so you can
1:10have all those links. So today's session
1:12is called Chip PT basics for accounting
1:14part two upgrade your everyday workflows
1:17with AI. My name is Hector Garcia. I'm a
1:20practicing C CPA. I'm the CEO of
1:23Reframe. Um I I'm your regular
1:26run-of-the-mill accountant that also has
1:28a YouTube channel and also does
1:31education to other accountants. My email
1:34is hectorreframeaccounting.com.
1:36Keep that email handy. If anything
1:39wasn't clear in this webinar, open
1:42questions, suggestions for next uh
1:46content, etc., etc., email me directly
1:49and I'll, you know, keep your request in
1:51mind for whatever uh your request is
1:54regarding this session. But do, you
1:56know, don't worry about about it. Just
1:58if you have a question, just email me
1:59and I'll try to point you into the right
2:01direction. I also run an event uh called
2:04Reframe in Miami. Uh, RAMP has been
2:07gracious enough to been a sponsor in the
2:08past couple years. So, we're very
2:10appreciative of that. If you want to
2:12learn more about the event that I run
2:14every year, it's called Reframe. It's in
2:16Miami. It's in November. I think that if
2:19you like this content and you like the
2:20stuff that I've uh that I've created
2:22over the years, then you're definitely
2:24going to want to come uh to Miami this
2:26year. Anyway, the learning objectives
2:27for today are number one, navigate the
2:29Chad desktop app. It's available
2:33both for Mac or PC. I am on a Mac
2:35myself. Uh so uh so it might look a
2:39little bit different um than yours if
2:41you're on a PC, but the all the
2:43functionality is the same. We're going
2:45to talk about organizing receipts, uh
2:47running OCR, renaming files,
2:49categorizing documents. Basically, you
2:51got a bunch of stuff in your computer
2:53and you're going to ask it move this
2:56stuff around. Um so that's kind of like
2:58the first uh example that we're going to
3:00do. The second one is going to be
3:03creating documents. So like have it
3:05create a a PDF document, have it create
3:08a simulated tax return, have it create a
3:13um a spreadsheet. Uh so have it create
3:16uh something essentially. That's the
3:18that's that's the idea. So that's what
3:19we're going to do. Um and even though
3:21the learning objectives looks pretty um
3:24pretty short, there's a lot of moving
3:25parts in between each one. So we're
3:27going to get uh into a lot of details in
3:29product. So we're doing the intro now.
3:32Then we're going to talk about uh
3:34navigation, organizing files, file
3:36creation. And if we have time, that part
3:39five, that's only if we have time. You
3:41know, I'll give you a little bit
3:42introduction of app creation. That's
3:44another piece of this, like a whole
3:47another piece of this that really
3:49deserves its own like 10-hour webinar,
3:51which is like how can accountants build
3:53their own apps to solve problems that
3:55current apps cannot solve because
3:57they're very niche and specific to your
3:59need. And then throughout the webinar or
4:01through the end, we'll do a Q&A session.
4:03Try to answer as many of your questions
4:05as possible. So, type in your questions
4:07in the chat in the live chat um and keep
4:09your questions handy if you want to ask
4:12them. Now, part one. If you missed part
4:14one, make sure you go into this uh the
4:17page that's in this link. You should
4:20have access to the to the slides and you
4:23should be able to just click on that or
4:24take a picture of that and type it in
4:26manually. And we learned the basic
4:28prompting. We learned meta prompting. We
4:31learned uh document editing inside the
4:34chaptt web app. And then we learned a
4:36little bit about connecting apps like
4:38Gmail or whatever into CHP for it to
4:41interact with your own uh company
4:44documents etc. So that's we already
4:46covered that in part one. So let's start
4:49with navigation. And there's a couple of
4:50slides here that is quick cheat sheet to
4:53kind of walk you through the navigation.
4:55Uh, but I'm just gonna uh get out of
4:57that and go straight into the product.
5:00So, what you should be seeing on my
5:02screen is the desktop version of Chad
5:04GPT. This is not the web version. This
5:06is the desktop version of Chad GPT.
5:08Again, I'm running this on a Mac. It'll
5:10be slightly different than when if
5:12you're running it on a PC, but um the
5:15app all the functions should be the
5:17same. Now, one area of clarification is
5:20the desktop version of the app still
5:23requires an internet connection, still
5:25requires you to be a paid subscriber to
5:28Chad GPT. Um, and it still uses the
5:32cloud um engine like the chatgpt.com so
5:36to speak, their service to process
5:39stuff. The only difference is that in
5:42the desktop app because it's installed
5:44in your desktop, it can interact with
5:47documents in your computer and those
5:49documents stay in your computer only. So
5:52that's kind of the big value of it is
5:54that from a security standpoint, if
5:56you're worried about uploading documents
5:59that are your client documents or
6:01sensitive client data, uh all the data
6:03stays in your computer. Now the
6:05computing happens on the cloud so you
6:08need an internet connection but all the
6:10data all the stuff happens um locally in
6:13your computer. Now, I want to just do a
6:16quick call out. If you don't have that
6:18installed yet, but you you are used to
6:20just going to chatgpt.com, like that's
6:22like what you're used to going somewhere
6:24in the bottom of chatgpt, there should
6:26be like a little button that says
6:27download apps. And if you click on that,
6:30there should be a link to uh get chat
6:33GPT desktop or get chat GPT mobile. You
6:35can install that in your phone as well.
6:37And when you click on uh get chatgpt
6:39desktop, it should start downloading
6:41your uh the application right away. Uh
6:45so like that's just there's a quick link
6:47to that uh to download that. That should
6:49be it should be an icon somewhere in the
6:51lower uh part of the computer. So I'm
6:54going to get get rid of this CHP
6:56web-based app because we're not going to
6:58be using web- based app. We're going to
6:59be using the desktop application. Okay,
7:02cool. So that's kind of the first step.
7:03We're all good. Um now in terms of power
7:07uh they they have the same power. So
7:09chip pd.com desktop they have the exact
7:12same power the same engine
7:15like they can do the exact same thing.
7:18The huge difference is that the desktop
7:20app can interact with your computer
7:22where the web app cannot and it's
7:25actually a pretty big difference. Um and
7:28if you're going to be doing any sort of
7:29coding you're definitely going to be
7:30work want to work on the desktop based
7:32app. Now the first thing you see on the
7:34top of of the screen is chat GPT mode
7:37and codeex mode. So CEX mode is their
7:41first attempt to build a coding platform
7:45for software developers. And the coding
7:48platform could also do some of the stuff
7:49that we're going to talk about now. But
7:51we're going to um skip the Codex
7:53platform unless we're forced to use it.
7:55And we're going to be working on the
7:56ChatJPT platform only. Again, you need
7:58to be on the paid edition of Chat JPT uh
8:01to have access to this tool. Now, when
8:04you're in the chat GPT mode, you're
8:06going to see a tab on the top of the
8:09screen. You're going to have one for
8:11chat and one for work. So, chat is going
8:14to resemble the same thing that you see
8:16in chatjpt.com.
8:18And the work is the one that is a
8:20combination of the interface that you're
8:24used to, which is a chatjpt.com
8:25combination, and it being able to
8:28interact in your computer. Now, a couple
8:31things you're going to notice
8:32immediately when you're in this work
8:34mode is that there's a drop-own menu
8:36here that says, "How should actions be
8:40approved?" And when this says actions,
8:42it means doing things in your computer.
8:45So, there's ask for approval, which
8:47means every single time it's going to
8:50touch something in your computer, it's
8:52going to say, "Hey, can I do this?" Or
8:54it's going to uh manipulate an app and
8:56say, "Can I do this?" Um, approve for me
8:59means give it a little bit of um runway
9:03for it to choose what's high risk and
9:06what's potentially unsafe. And then it
9:08will approve most of the computer
9:11manipulating tasks except for something
9:14that feels that could potentially be um
9:17a um a a unsafe thing. And then you can
9:21do full access and just say, you know
9:23what, just be able to touch everything,
9:26be able to affect everything in my
9:27computer. Don't ask me questions. Just
9:30do the work. Of course, in a perfect
9:32world, this is how you want to work,
9:34right? because you uh want to trust it
9:38not to destroy any files in your
9:39computer or do anything high risk or
9:41destructive. If I'm talking to
9:43accountants here, I'm telling you, I
9:45don't think a whole lot of people here
9:46are just going to say yes, sure, give me
9:49full access. Um so, uh because you have
9:52to say yes, you got full readr access to
9:54all my folders, full read access to
9:56terminal commands, that means you can
9:58install potentially even install a
10:00virus, right? and full read access to my
10:03internet apps and plugins like Google
10:05Chrome that sort of thing. So if you
10:07click on con confirm there you give a
10:09full access and control to your computer
10:11and then up here it says full access. So
10:13that's actually a really important
10:15piece. There's a lot of another site
10:17thing here that says where should the
10:19chat run on your computer and um in the
10:23cloud. If you click on in the cloud, um
10:26you you're going to have a challenge
10:27accessing to some of the some of the
10:30local files unless you physically attach
10:32them like you actually upload file by
10:34file. So actually work on on your
10:37computer and that's where you want to uh
10:39do that. I already gave this thing
10:41access to my computer and there's some
10:44areas of settings to do that. So I'm
10:45just going to show you that real quick.
10:47So when I go into my settings
10:50um there are uh different settings that
10:52have to do with integration. So like for
10:54example here's computer use and here's
10:57you say look yes you have access to any
10:59app in my computer you have access to my
11:01browser you have access to more browsers
11:04right uh or Microsoft Edge you have
11:06access to my to my Excel like you
11:08explicitly give it access and you can
11:11even go one step further you can give it
11:13access even while your computer is
11:16turned off sorry not turned off but
11:18while it's uh like locked you know like
11:20in in like password mode so you can even
11:23give it that level of access. So like
11:25you could like not shut down your
11:26computer but log out um and then just
11:29give it a task and have it just do it do
11:31its thing. So you can go one step
11:33further uh on that uh to do that. So you
11:36have all sorts of different things
11:37browser. So I can say yes. Can can they
11:40control my browser? Yes. I could also um
11:43limit uh uh you know the access that it
11:45has here and know give it access to
11:48autofill passwords. So if you wanted to
11:50also log in into your bank or whatever
11:51and do things again it's going to be up
11:54to you how much access you want to give
11:57to this app. Uh my job here is just to
11:59show you what it can do and then it will
12:01be your job to work with your IT
12:03department and figure out how much um
12:05you know how much access you can give
12:07and then how much you would be under
12:09compliance right um from the perspective
12:11of giving AI a lot of access. Now, um, a
12:16lot of people ask me, is there an undo
12:18button? Like, if it does something and I
12:20wasn't sure if it did it right, can I
12:22press undo? I mean, if it modified a
12:24file and you asked it to go back to the
12:26last version of the file, you can do
12:28something like that. But, but if it
12:30deleted a file, you usually cannot undo
12:32deleting. So, that's why you want to be
12:34very careful about that. So, I'm going
12:36to put this in a app a proof for me.
12:38That way, it's sort of in semiapproval
12:40mode as I work on stuff. Okay. So,
12:42that's kind of the first step. The next
12:44step is I want to give it a specific
12:46folder inside my computer to work on.
12:49So, let me just open up my uh folder
12:52structure here just to kind of show you
12:54what I'm going to be working on. So, I
12:55have this folder in my desktop. I just
12:58called it chatgpt demo. And I'm going to
13:01be dumping files in here just to show
13:02you kind of example by example. um but
13:05it's only going to have access or it's
13:07only going to manipulate the data inside
13:10this folder which right now it doesn't
13:12have any data. So the way I the way I do
13:15that the way I I tell it go do things in
13:17that I'm going to click here where it
13:18says choose project click on that and
13:21then click on new project
13:24okay and uh actually not choose project
13:26sorry I have to choose the data in my
13:29computer
13:33okay um let's do work on this project
13:42hold let me create a project. And then
13:44I'm going to call this one uh organize
13:47or organize my receipts.
13:52Organize my receipts. Let me just uh
13:54organize
13:56my receipts. Should spell things
13:58correctly. Okay. And then it says add
14:00folders and ch uh add folders ch.
14:04So I'm going to click on that and then
14:06choose in my desktop. That folder
14:09doesn't have any data right now. Okay.
14:11And then I can click on create project.
14:13And what's also interesting about it is
14:15I can add multiple folders and it will
14:18read through all the multiple folders
14:20and figure out what to do in each
14:22folder. So we're just going to start
14:23very similar here. Go create project.
14:26Now my project is created and I gave it
14:28the specific path on where it can work.
14:31Now let's talk about what I'm going to
14:32ask it to do. So, um I have let's say
14:36for example, let me just I'm going to
14:37grab a bunch of uh receipts that I have
14:39here for the demo.
14:43Okay, just looking for the receipts
14:46here. Give me one second.
14:55Okay. And I'm going to grab all these
14:57receipts here. And just imagine for a
14:59second that all of these receipts were
15:02uh sent to your your clients send them
15:05to you via email or they put them in
15:07your Dropbox or they put them into your
15:10Google Drive or they put them into your
15:13um portal, right? What whatever way that
15:16you receive a bunch of documents from
15:19your uh from your client, just imagine
15:22that you got that and you then put them
15:23into this folder. Again, this is the
15:26only folder that this project has access
15:28to. And these receipts um do not have a
15:32naming like to let you know what each
15:34receipt is. They have like, you know,
15:36maybe the the the name that their client
15:39scanner uh gave it. So, if I pull up any
15:42of these specific receipts, you see what
15:44this looks like. Some sort of like wire
15:47transfer fee or whatever. And then I
15:49pull up another one and it's, you know,
15:51some some invoice for uh some
15:53construction services. Okay. Okay, so
15:54that gives a general idea. Your client
15:56dumped a bunch of receipts, a bunch of
15:59invoices into your portal or send them
16:02to you and they just sitting there and
16:04you want to organize them. So there's
16:05multiple ways we can organize them. And
16:06this is where obviously the prompting m
16:09uh um matters, but you kind of have to
16:12know what it can do. So the first thing
16:14I wanted to do is I wanted to uh rename
16:17all the files based on what's in each
16:21receipt. So, we're going to have it
16:22apply OCR, you know, character
16:24recognition, read it, infer what's in
16:27it, and rename the file for me.
16:31Rename all the files in this folder.
16:35These are all receipts. This is going to
16:37require you to read the receipt. And I
16:39want you to use the specific convention.
16:42I want you to put the date of the
16:44transaction first, then a hyphen, then
16:47the name of the vendor, then a hyphen,
16:50then the total dollar amount, then a
16:53hyphen, and for the last piece, I want
16:56you to give me a general category of
16:59what possibly could be the general
17:03theme, expense category or whatever, or
17:06that particular receipt. Okay, so that's
17:08the prompt I'm giving it. Okay. Uh, so I
17:11gave it the prompt and I I I use
17:12dictation software. Dictation software
17:14is like the biggest life hack. You know,
17:16there is um there's a whole bunch of
17:18different ones. Uh, your Mac has
17:20builtin, your Windows has builtin. I I
17:22usually pay for one called Whisper Flow.
17:25Uh, and that's what I use to do this and
17:26it it breaks things down for you and
17:29organizes your dictation which is like
17:30really really powerful. So now after I
17:33did that, I went ahead I'm going to go
17:34ahead and send that request and then
17:36it's going to start uh doing the
17:38analysis. First, it gave me a quick
17:40summary of saying this is the naming
17:42convention I want you to have. Okay, so
17:45it's going to rename all the files. It
17:47says ext. That means some of them could
17:50be PDFs, some of them could be JPEGs,
17:51whatever. So, it's just saying I'll
17:53maintain the same um extension at the
17:55end. Then it says right here, I found 42
17:58receipts. Again, just for context, all
18:01these files in this folder are uh the
18:04files that is working on. Let's just do
18:06it here in list mode. So, we got all
18:08these files in this folder. Again, they
18:10currently don't contain anything other
18:12than the data that's inside of it and a
18:15random name that doesn't mean anything
18:17to me. So, having them have names, that
18:21could be really powerful. So, that's the
18:22first step that we're going to do, just
18:24have it name.
18:26Okay, while it does that, because we do
18:28have to wait until it does its thing,
18:29I'm going to answer some of the live uh
18:32questions that are in the webinar. First
18:35question is, Hector, are there any
18:36security concerns with having a client
18:40with personal identifiable data while
18:43using Chad GPT? Great question. Um, I
18:47would say that I think that if you are
18:49an accountant and your job is to
18:52safeguard your client's data and you
18:54don't trust these systems and your
18:57client doesn't trust these systems, then
19:00you shouldn't use it. Period. I think
19:02that if you trust Chad GPT or trust
19:06claude and trust the public claims that
19:09they made that your data is not used to
19:12build the model when you are in their
19:14paid business commercial versions and
19:18your client also trust it and you're
19:19disclaiming to your client that you are
19:21using uh these systems to do that then I
19:24think it's totally safe. So I don't have
19:25a clear answer like is it safe yes or no
19:28it's more like it's a bit more nuanced.
19:31Um, that's kind of the way I I I I think
19:33about it. Okay. Someone someone's
19:36telling me, are there specific AIs
19:39uh like Claude or Microsoft Copilot or
19:44Google Gemini that are more safe than
19:46others? That's a that's a really good
19:47question. I don't have any empirical
19:50data to tell you that one is more safe
19:52than the other. So, uh, another question
19:54is, how do you prevent AI from
19:56hallucinating? That's a really um, good
19:59question. Hallucinating means it making
20:01up stuff. Now AI has gotten so [snorts]
20:04much better at not making up stuff. Uh
20:07particularly because the models have
20:09gotten so much better and you have the
20:12ability to uh increase
20:15you know how much smarter they get so to
20:17speak with these little things. So, if
20:19you don't want it to go if you if you
20:21prefer accuracy over speed, usually um
20:25you want to like just kind of push your
20:27smartness level, so to speak, your
20:29recency level as high as possible. And
20:32the higher you bring this up, the the
20:36less probable that it will make up
20:38stuff. Now, this is pretty pretty safe
20:40stuff right now, like it's just going
20:41through files and renaming them. You
20:43know, you can just like in accounting
20:45and audit, you can spot check them,
20:47right? open a couple and see, okay, is
20:48it about is it about what it's supposed
20:51to be? And if it's about what it's
20:52supposed to be, that's good enough.
20:54Okay, so it says it did it. It renamed
20:5642 files. It used this uh convention. Uh
21:00let's go into my folder and kind of see
21:02the end result. So, as you can tell from
21:05here, um it did rename some of the
21:07files, right? So, like this one is
21:09202511
21:11gusto $18,000 payroll. So, I'm going to
21:14go ahead and open it just to make sure
21:15that it's about that. Yeah, that's true.
21:18And the $18,000 is true. So, out of all
21:20the numbers there, it figured out what
21:22is the total and it figure out my vendor
21:24was Gusto. And it figure out um my
21:28expenses payroll. Let's grab another
21:30one. Again, we're just auditing this
21:32Lonear Plumbing. The total amount is
21:344,645.
21:36It looks like there's some plumbing
21:37supplies in here. Let's see what it it
21:39called it. Plumbing subcontractor. Okay,
21:42maybe it's accurate, maybe it's not, but
21:44it got me pretty close. And this is not
21:45doing any categorization in my system so
21:47to speak. This is just giving the files
21:49a better name. Now I want you to imagine
21:52you know a world in which you have been
21:54working with client files and all your
21:57client files were beautifully named like
21:59this. Like your world would be
22:02exponentially better. Like your life is
22:04exponentially better when the people you
22:06interact with give you stuff that's easy
22:08to work with instead of like a dump of a
22:10bunch of randomly named files. Okay. The
22:13other uh the other piece here is I can
22:15have I can have this group it by folders
22:18as I find that to be really interesting
22:19as well. So I can come in here and say
22:23I want you to group them by folders
22:25based on category. So the first folder
22:28is the category and then under the
22:31category the secondary folder would be
22:34the vendor or the payee.
22:36Okay. So that's the prompt I gave it.
22:38Right. So group and again you can give
22:40it anything you want. Okay.
22:42So, it can do that. While it does that,
22:44somebody's asking me, can you have it
22:46pull receipts uh from the body of an
22:49email? So, the answer is yes. Uh you
22:51would have to connect it with your uh
22:53Gmail or your Outlook and give a full
22:56access to be able to read all your
22:57emails for it to be able to extract
22:59those um attachments from that. Okay,
23:03let's see how it did with the folders.
23:05This is actually a much faster process.
23:08Notice now it put everything into nice
23:10little folders. Look at this. such a
23:11beautiful thing. Um, you know, sometimes
23:14I think of, you know, like the future
23:17accountants where all this stuff gets
23:19done automatically going back 20 years
23:21and think about like all the hours I
23:23spend creating little folders and
23:25grouping things in it. Like if you
23:27prepare taxes and somebody gives you
23:29three years worth of stuff, just say,
23:30"Hey, grab all the stuff, group it into
23:32each relevant year or group it into
23:35business versus personal or group it
23:37into what goes in uh what's deductible
23:39and what might not be deductible." And
23:41of course, you know, you still have to
23:42check the work. You are the accountant
23:44after all. But look, I double click on
23:46fuel. The vendor name is Loves Travel
23:49Stop. There's my two weird looking
23:52receipts from uh my gas, like my gas
23:55receipts. Okay. And actually I I all
23:58these sample data that I use for this
24:00webinar, I actually put that in a little
24:03Google Drive. So because a lot of people
24:05after this webinars get super excited,
24:06but then they don't want to use the real
24:08data. So I'm going to give you access to
24:10all these documents. I'm going to send
24:11you an email with all these with a
24:13folder where you can download and you
24:14can do the same testing just so you can
24:16get you get familiar with uh the
24:18workflow. Okay. Um so that's uh that's
24:22organization in general. I think it it
24:24could do it could do a really good job.
24:26Um, you could do things like like split
24:28the pages. So, let's just say for
24:30example, somebody gives you one big PDF
24:33and I could I could kind of show you
24:34that. Um, I can show you that. Let me
24:38just go back into my documents here. Um,
24:41uh, let me see. Do me a favor. Undo all
24:44of that and put the documents back to
24:47where they were before I did any
24:49changes. Now, because I didn't delete uh
24:52anything, it should be able to do that.
24:55It should be able to move the documents
24:56back and and put put them back. Uh I
24:59don't know if it can rename them again.
25:00I don't know if it if actually remembers
25:02the original name. Let's see if it
25:04retains the original name in there. But
25:06I wanted to show you one more thing
25:07that's actually pretty interesting. Um
25:09because you can you can have it uh uh
25:12either join PDFs together or split PDFs
25:18up, right? And I find that to be like a
25:20super fascinating approach. Uh because
25:23many times my client will give me one 46
25:26page PDF that contains like a whole
25:29bunch of different things and it's a
25:30pain in the butt to go through it and I
25:32want to split it up. Um or uh or the
25:35other way. Maybe they gave me a bunch of
25:36separate things and I want to group them
25:38by logical. So I want one PDF with all
25:40my gas receipts or one PDF with all my
25:42travel receipts or whatever happens to
25:44be. So let's have let's have it do that.
25:46Let me go back here. Let's see what
25:49happened. Okay, my files are gone.
25:51[laughter]
25:52Okay, so lesson learned, guys. Sometimes
25:55your files are gone. My files are gone.
25:56So, let me go back into my original
25:59documents that were here. I don't know
26:01what the heck happened. Uh, let me just
26:03copy them again. So, kind of happy this
26:07kind of happened on the fly. Like I
26:08would say, rule of thumb is always have
26:10your backups or oh wait, my files are
26:12not gone. Never mind. Never mind.
26:15um is the problem stands between the
26:18user and the keyboard. Sorry. Sorry. I
26:20was scrolled out. My files are still
26:22there. Pause alarm. Okay. Anyway, sorry.
26:24People are probably freaking out. The
26:26files were gone. No, the files were gone
26:27from from my visibility, not from the
26:29computer. They're there. Okay. So, I'm
26:31going to have it do something else.
26:33Now, what I want you to do is I want you
26:35to read all the files and find vendors
26:38in common. So if there's two or three
26:41receipts that are all the same vendor,
26:43uh group them all as the same PDF and
26:46then rename uh each of that PDF whether
26:49it contains a single receipt or multiple
26:51receipts. Rename it just the name of the
26:54vendor and then after the vendor name
26:56tell me how many documents were joined
26:59together.
27:02Again we're getting very creative here.
27:04I'm trying to give you like all these
27:06edge cases in like different ways you
27:08would think about organizing uh sort of
27:11client files. Okay, different different
27:14uh ways um you know to kind of approach
27:18uh data file organization
27:21and then after we're done with this then
27:22we're going to talk about data
27:23manipulation and this is actually this
27:25is technically sort of uh data
27:27manipulation because we're like you know
27:29putting them together. I actually didn't
27:32tell it to Did I tell it to join it? Did
27:34I tell it to actually create a single
27:36PDF? Uh, we'll see. Uh, yeah, I did say
27:39join together. Okay, I think it's pretty
27:41clear that it's not like create a little
27:44folder unless it's creating little
27:46folders, but we'll see. Um, okay. While
27:48that does that, let me see more
27:49questions. A lot of your questions are
27:50coming in. Uh, William says, "Do you
27:53have a PDF editor app that's linked to
27:56Chat JPT you would recommend? Um, does
27:59it combine or separate PDFs on its own?
28:01So, William, I'm not trying to answer
28:02you the combination question um and
28:05separation question. That's actually
28:06what I'm doing now. But in terms of like
28:08a PDF editor that I would recommend that
28:10talks to Chad GPT, I don't um I don't
28:13have a recommendation. That's actually a
28:15really good question. I'm going to be on
28:16the search for one. Actually, I know it
28:19can go into the uh PDF and edit uh
28:22things in the PDF. I know it can do
28:24that. Now when PDFs are scanned, you
28:26know, versus the original digital PDF
28:29gets a little trickier, right? Because
28:31like some not all text comes in as text,
28:33some comes in as image. But I know it
28:35can do certain uh manipulation in the
28:37PDF in it. Yeah. Okay. Uh let me see. Uh
28:43if you scan multiple receipts into one C
28:46uh PDF, will it separate out for you?
28:48The answer is yes. And that's kind of
28:49like what I'm showing you here. I'm
28:50showing you the joining, but I'll show
28:52you the separation um in a little bit
28:54while while this still um finishes that.
28:57Let's see what else we got in the
28:58questions.
29:00Okay, I think that answered all the
29:01questions. Actually, good good job,
29:03guys. Uh oh, somebody's asking which
29:06version of Chad GBT you're using. So,
29:08I'm using the $100 a month version u on
29:11this particular demo, but for my firm,
29:14we use the $30 a month version. So, uh,
29:16and the $30 a month version is good
29:18enough. The team version, it's good
29:20enough. Okay. So, here's like my list of
29:22the PDFs that are being created. Uh, and
29:25look, we have a couple of the ones that
29:27we're going to focus on, which is all
29:28the ones that have um, uh, the merging
29:31on them. So, let me go into the folder
29:34and kind of see what that looks like.
29:38I'm going to sort it by size, assuming
29:39that the bigger ones have the most. So,
29:41this one's called Iron Cut Builders. It
29:43has nine documents in total. If I double
29:45click on that, I can see that there's
29:47multiple pages.
29:49So, you saw an example for joining uh
29:53there. Okay, cool. Awesome. Okay, so I'm
29:55going to show you another example.
29:58I'm going to separate now. So, I'm going
29:59to pull up uh let's see what we have
30:01here. I got this uh tax return package
30:07and I'm going to put and by the way,
30:09this is all sample data. This is not
30:10like real client data anywhere. So, let
30:13me just put here receipts.
30:17Okay. And I'm going to dump all the
30:18receipts into that folder just so we can
30:21kind of get them out of the way. Um, and
30:25now I'm going to paste this PDF uh Smith
30:29with complete tax package. So, when I
30:31click on this, this is basically one big
30:34PDF
30:36that contains 21 pages and contains
30:39everything together. W2, 1098,
30:421098E,
30:44uh interest statement, uh some social
30:47security thing, right? Some documents
30:51in here, some uh investment documents
30:54and a bunch of pages, just like a like a
30:56bunch of stuff, right? So, uh now I'm
30:59going to tell it to grab this uh tax
31:02package. I'm just going to um copy the
31:05name here and say okay I'll start a new
31:08new chat under the same project and say
31:12there is a file
31:18uh with
31:21a bunch of tax docs. Let me go back to
31:25the dictate.
31:27And I want you to create a little folder
31:30for the year that it belongs to. And
31:32then under that folder, I want you to
31:34have a subfolder in terms of what the
31:37type of docs that it is. So whether it's
31:39a W2, a 1099, group them by the type of
31:43document, and then separate or extract
31:45the pages related to what goes into each
31:48folder.
31:51Okay, let's see how how well is it does
31:54this. Okay, so it's going to go into the
31:56folder, inspect the files, look page by
31:59page, create the folder type. So like
32:01I'm showing you now, sort of like the
32:03pinnacle of organization. You got one
32:05big PDF. Now you you're asking it to
32:08make decisions, right? Not on the
32:10category, but on the type of document
32:11that it is, and you know, keep, you
32:13know, keep them together if they're the
32:15same pages or whatever. We're going to
32:17see how well it does that. Okay. So
32:19right here it says look I found the
32:21first page first seven pages are
32:23individual forms. Pages 8 to 21 is one
32:26continuous brokerage statement. I'll
32:28preserve the 14page statement as a
32:30single document. It's beautiful. So
32:32that's all the thinking for me. Like
32:34sometimes I I I worry about like you
32:37know how we figure out you know
32:40how what our brand new employees
32:44uh will do in our firms because like I
32:47like if if this was a brand new employee
32:48and I would I would be telling them to
32:50do this they would go back to me three
32:52times and ask me what should I do about
32:53this? What should I do about that? You
32:55know how should I handle these pages?
32:56You know what should I call this? And
32:58these systems just like don't ask any
33:01follow questions. They just know almost
33:04like logically what um what what needs
33:08to be done. So that I find that to be
33:10particularly fascinating. So okay. So
33:13let's wait until that finishes uh doing
33:15that.
33:17Let's see any other questions. So Cheryl
33:19says, "Does a bookmark in the packages?"
33:22I'm not sure what that means, Cheryl. I
33:23haven't tried a bookmark. Uh something I
33:26could try my own. Somebody says, "Can we
33:29uh uh file organization documents with
33:32Microsoft as well?" So, Karina, I I
33:35don't use uh any of the doc Microsoft
33:37products. I'm a Mac user, so I don't
33:38want to I don't want to say yes or no,
33:40but I know that this stuff chat JPT or
33:43Cloud Co-work. It's miles ahead uh
33:46versus Microsoft Copilot if that's what
33:49you're asking. Now, technically, if you
33:51give access to SharePoint, it should be
33:53able to do all these things inside
33:55SharePoint if that's what you're asking.
33:57like if you connect it to your you know
33:59your cloud-based document uh um
34:02repository is it better okay so let's
34:05see uh where we are okay so here's a
34:08document called output uh and then we
34:10have document called PDF and then we
34:12have document called tax documents then
34:14we have 2025 and then we have look at
34:17this such a beautiful thing it has each
34:19of these things
34:21uh organized so each of these documents
34:23are inside their folder and even went in
34:26and renamed in each of the files. So, it
34:28makes it super easy to look at. That's
34:31just awesome. That's just great stuff.
34:32Okay. Now, let's have it create a um a
34:37document. So, let's follow uh on the
34:40same chat that we have here and say,
34:43okay, great. So, inside the 2025 folder,
34:46for example, which is all for Smith, I
34:50want you to create one Excel document
34:53that maps out all the documents that are
34:57in this folder and also creates a tax
35:00summary of all the items that could
35:03affect the tax return. uh I don't want
35:05you to calculate any tax for now but
35:07just all the items and kind of like have
35:10a total potential taxable income that
35:13all these documents uh uh represent and
35:17and this is for the purpose of me as a
35:20tax preparer having a work document
35:23right before I prepare the tax return
35:24that gives me a quick snapshot of
35:26everything that I'm about to look at and
35:28where do I find all these things? Oh,
35:30and also as an added bonus, I want you
35:32to add a little hyperlink in that Excel
35:35file. Uh, because it sits in the root
35:37folder, add a hyperlink where I can
35:39click on it and I can open the file
35:41directly while I'm looking at the Excel
35:43file.
35:45That's a lot. [laughter]
35:47Let's go ahead and send that and see
35:49what happens. Um, and then I'm having
35:52some questions about handwritten
35:54documents. Like, how would you manage
35:56handwritten documents? How does it
35:58recognize um uh handwritten documents?
36:01Good question. I think the best thing to
36:04do is to test it. So, I got to go find a
36:07handwritten document somewhere uh to to
36:10show you uh the example of well these
36:12kind of things. Let me see if I can find
36:14a handwritten document somewhere.
36:19Okay, perfect. [gasps]
36:27Okay, this is still thinking and I'm
36:28like doing the work now trying to find a
36:31handwritten document for you. So, I did
36:34find it. Beautiful thing. Got it right
36:36in front of me. Handwritten document.
36:39And I'm going to take a picture of the
36:40document and put it in my chat GPT. So,
36:43we can kind of see how that works.
36:51Perfect. All right. So, this still still
36:53thinking and we're waiting for this to
36:55think. But while we're doing this sort
36:56of dynamically, I am going to go ahead
36:58and receive
37:01the handwritten document.
37:03Um, so I can also see what that looks
37:07like. So, here's a handwritten document.
37:09So, let's say, for example, some client,
37:11which I'm not really happy about, uh,
37:13basically on a white piece of paper went
37:15in there and wrote the address of a
37:18property, a bunch of stuff that refers
37:20to like rental income, maintenance, some
37:22chicken scratch here, improvements, HOA,
37:25some notes about like I paid X amount
37:28for the property back in this and I
37:30moved out and I bought a I got it and I
37:31got a mortgage for 7%. It's great
37:33example, I think probably a bit of an
37:36extreme one, but a great example of
37:38okay, I got this like highly chicken
37:41scratched handwritten document with like
37:43some potential re relevant information
37:46on uh for the tax return. So, we will um
37:50go ahead and and have it process that as
37:52soon as we're done with uh uh all the
37:56current tasks that is working on. So,
37:58I'm going to move that into the demo.
38:01Okay. So, I have So, I I got the folder
38:04there waiting for me um right here. So,
38:07we're gonna have it uh process that
38:09afterwards. I'm just going to copy the
38:10name. I'm just going to call it
38:12handwritten
38:15rental thing. Okay. So, I got the
38:17handwritten rental thing in here. Um and
38:20then I'm going to have it look at that
38:21and build something for me. like
38:23actually like build a readable spread
38:27workable spreadsheet uh for me that I
38:30can use to um to to have something that
38:34makes sense in uh in my tax file. Okay,
38:38so this is still again that just for
38:40some context this is still working on
38:41that Excel file. So building Excel files
38:43is a little bit takes a little longer
38:45and also I told it to like give it some
38:49like tax thinking. So, it's actually
38:51going through like the thinking process
38:54and saying, you know, what is potential
38:56taxable income? Maybe, you know, like
38:57it's just doing a lot of extra thinking.
38:59And I probably could have said, just
39:00give me a summary and like don't like
39:02try to figure out what's taxable and
39:04what's not. Obviously, everything you
39:06put in a prompt, we covered this on on
39:10part one of this webinar series, is like
39:12that prompt completely changes the
39:14direction of the work that this is going
39:17to do. So, it's just really valuable to
39:20have like just really well defined uh
39:23exactly what you um what you're going to
39:25do with the prompt. Okay, still still
39:27thinking. So, we're going to give it
39:28some time. I'm just going to go into the
39:31folder where that uh Excel file will
39:34live. And there's an Excel file here. I
39:38don't want to open it yet because it's
39:40still doing things. Uh so, I don't want
39:42to like affect it, but it looks like it
39:43it's already like in the process. So,
39:45there's the Excel file sitting there
39:47right there waiting for me to open it
39:49and to make a decision on what I'm going
39:52to uh do uh do um do with it. Okay. Uh
39:57somebody says, "What happens with the
39:58hyperlinks once you move the documents
40:00out of the folder?" So, the Lis Lisa,
40:02the answer is they die, right? The
40:04hyperlinks are dependent on the fact
40:06that you don't move stuff out of the
40:08folder. So, obviously that hyperlink
40:10thing, it's like let's call it it's an
40:12added bonus. Okay. Um, another question
40:15is, can I start a new chat or a new task
40:18while I'm working on this one? The
40:20answer is yes, I can. And historically,
40:22when I do webinars, I used to be all
40:24over the place where I I'm doing one
40:25thing and I'm saying, "Okay, let's put
40:27that on pause. Let's do the next thing.
40:28Let's put that on pause. Let's do the
40:30next thing." But then, like during a
40:31webinar, people are like, "Wait, what
40:32what task is he working on?" So, I am no
40:35longer doing live webinars multitasking
40:39tasks on the fly. Okay? Like I said, it
40:41just it just becomes really confusing.
40:43So, I'm just going to like stick into
40:45stick into this one thing that we're
40:47doing and not have it do something
40:48simultaneously, mostly for the grace of
40:51the audience, not like being super lost
40:53on where they are. Um, let me see. Can I
40:56do facial recognition on images? For
40:58example, I have a folder full of images
41:00and I want to learn what the individual
41:02looks like and pull images of that
41:04specific individual into a new folder.
41:06William, great question. I have not
41:07tested that. I know um Apple does that
41:10really well in in the f you know with
41:12the phones with the pictures on the
41:13phones you know identifying the person
41:16but I I have never like done it with
41:20Chaji PT and I and I and to be honest
41:23with you even if PT could I would say
41:26it's so uh intensive that I think it
41:29would like stop in the middle of it. Um
41:32okay so here's the the Excel file. Let's
41:36go ahead and open that Excel file. Let's
41:38see what that looks like. Let me bring
41:40it over to the monitor that we're
41:43working on. Give me a second. Click and
41:45drag this bad boy here. And let's go and
41:48zoom in. [clears throat]
41:51200%. Maybe that's too much. 150%. Just
41:54right. Okay. So, here's the um the Excel
41:58that it wrote for me. Here's the
41:59potential taxable income. Again, imagine
42:02a world, especially if you're a tax
42:03preparer, where all your tax files are
42:05organized like that and you have a
42:07summary of everything that could
42:09possibly be, you know, that way when you
42:11prepare tax return, you're not cut by
42:13surprise. So, here's the W2 wages, bank
42:16interest, brokerage interest, and again,
42:18I'm going to give you access to all
42:19these documents so you can do the test
42:21yourself and audit it and see how
42:23accurate it is and all that stuff.
42:24Here's some potential uh tax return
42:27stuff. Okay. Uh let's see the document
42:30index. Okay, here's the uh all the
42:33different documents.
42:35Okay, the W2, the 1098. Uh the
42:39explanation of what it is. Uh review
42:41status, whatever that means. Uh here's a
42:44link to open the PDF. Uh something's
42:46broken with the link. I'm clicking on
42:48it. It's not working. But maybe I can
42:51like go back and say, "Hey, I'm having
42:52an issue opening the file." Have it go
42:54back and troubleshoot. But at least
42:56built the the general uh concept that I
42:59wanted, which is just a table that
43:01explains what's in it. What's the what's
43:03the name of the file? I mean, just with
43:04the name of the file, that's strong
43:06enough. Uh tax items. Here's like a sort
43:08of a breakdown of the tax items. I find
43:11this to be also pretty interesting.
43:13Okay, so it's actually extracting lines
43:16from each of the document and telling
43:19you, you know, potentially, you know,
43:21where they're coming from and what they
43:23could mean. I mean, come on, man. This
43:25is like it's like another level of the
43:27type open items. Here's all the things I
43:30couldn't figure out or wasn't sure, you
43:32know, if it could make any difference,
43:34right? So, I I really welcome you to try
43:36this. You get a get a get a simulated
43:39client file if you want don't want to
43:41use real client information. have it in
43:43there, have it do summaries and kind of
43:44like just watch it work and be blown
43:47away for what it can do from
43:49organization
43:51uh standpoint and um and creating
43:54documents relate related to that. Okay,
43:57let's uh I'm going to X out of that and
44:00I'm going to have it just look at this
44:02one document, the handwritten one. Okay,
44:04the handwritten rental thing. I'm gonna
44:07say
44:09I'll start a new chat here really quick
44:11and I'll say I have a file named
44:18that is some handwriting chicken scratch
44:20thing about a rental property. I want
44:22you to create a spreadsheet for me that
44:24is for my tax prep purposes. Organize
44:28everything into what it would look like
44:30in a schedule E. figure out possibly
44:33what's the split between uh interest and
44:36principal, if there's any mortgage
44:38information, um information about the
44:40asset or potential appreciation, etc.
44:44Again, I'm priming the prompt a little
44:46bit. Um I generally I would say just
44:48help me figure out by what this
44:51handwritten hot mess thing is and just
44:53have it like figure it out. But I gave
44:55it a little bit of you know tax [snorts]
44:56context. It's like hey this, you know,
44:58this could be a file for my schedule E.
45:00So, I'm taking it kind of like one step
45:02further because as accountants, most of
45:04us wouldn't be like open this file,
45:06figure out what to do. It would be more
45:08like I have a general idea of what I
45:10want to do with a file. That way,
45:12without additional context, not just you
45:15get it to do something more purposeful,
45:17but like for the purpose of the webinar,
45:18when you look at it, you're like, ah,
45:20this is related to accounting, right?
45:21Because I don't want it to go off the
45:22tangent and just do some random thing
45:24with that document that's not related to
45:26like work. Although it could be
45:28interesting to see, you know, what are
45:30all the different interesting things you
45:31could do with this document? That could
45:33be pretty interesting. Um, uh, but now
45:37some somebody's commenting about like
45:39this functionality being inside document
45:43management system. So, I actually agree.
45:45I believe that your practice management
45:47system, your uh, document management
45:49system should have all this stuff built
45:52in. This is like too many extra steps
45:55for me to like grab the documents that
45:57the client uploaded, put them in a
45:59folder in my computer, do all the work,
46:02and then copy them back, right? Like
46:04that that feels like a round trip.
46:06That's like one way too many. I mean,
46:08what like just too many steps. And the
46:10reality is that like the practice
46:12management software and document
46:14management software seriously seriously
46:16needs to um like like level up. Take a
46:21look at these things. look at these
46:22webinars level up. They just they're
46:24just not there yet. But the nice thing
46:25about showing them in CHIGP unclaud that
46:28it gives you a glimpse into the
46:30possibilities and the capabilities. And
46:32with that glimpse, it gives you more
46:34clarity around what to expect from these
46:37software companies. So next time you're
46:39in a demo and they're selling you the
46:41world and they're saying, "Oh, this app
46:42can do this and this app can do that."
46:44Um, after you go through several
46:46iterations of this exercise, you feel a
46:49little bit better equipped on knowing
46:51what to ask. Okay. Hey, you know, can I
46:53do this? Will it do this? Um, and you
46:55put a little bit more pressure in the
46:56software companies to make it more
46:59functional inside of their cloud-based
47:02system because again, putting stuff in
47:04your computer, working on your computer,
47:06and working back is not that um that
47:09that that uh practical. Now, Jack has a
47:13question. is when should you you use
47:14projects instead of just using chat? So,
47:17I am on chat mode, but the reason I'm
47:19doing projects is because you want all
47:22tasks that are um repetitive that
47:27they're the same thing or about the same
47:29thing, you want them in a project. Why?
47:32Because even though I'm doing this live
47:34and I make this look super easy, in the
47:37real world, you're going to be doing a
47:38lot of troubleshooting. And in that
47:40troubleshooting, there is learning.
47:43>> [clears throat]
47:43>> and all the context, all the memory, all
47:46the learning, all the insights from you
47:49going to the process and like knowing
47:51how to prompt, what to prompt, and what
47:54you're learning from the prompts that
47:55you're attempting to do. They're
47:57actually a lot it's actually a lot more
48:00practical
48:02to have it in a project because you
48:03don't have to go back and give it the
48:05same prompts and go back and tell it
48:06about the same learnings so to so to
48:09speak about the prompts. So that's why
48:12projects are so valuable, especially
48:14when they're within this context of a
48:17task that you plan to repeat over and
48:19over and over.
48:22Okay, cool. Thank you for that question.
48:23That's great. Great question. And yeah,
48:26so a couple you got questions about um
48:28copies of the slides or access to the
48:32documents or access to the recordings.
48:34All that stuff is going to be um given
48:36to you. Um, and I and I asked the RAM
48:39team to send me a list of all the
48:41attendees so I can send you access to
48:43all the stuff, you know, that's like
48:45sort of beyond the slides in the
48:47recording so I give you access to the
48:48documents, too. So, you're going to wait
48:49for an email from me in the next couple
48:51days that contains access to all the
48:53stuff because I do want you like if
48:55there's something that I want you to do
48:56is I want you to try to replicate this
48:58on your side. Like I get to the point
49:00that you're like, "Wow, everything that
49:01Hector did, it doesn't just sit in a
49:03webinar. It's something I feel I can do
49:05on my own." Right? Like I said, that's
49:07really where like your confidence will
49:09get boost boosted and then like you'll
49:11feel like you're getting a lot from
49:13these webinars. Okay. So, uh where's the
49:16document uh that this thing is? Let me
49:19open it in Excel
49:22and let me click and drag this here to
49:24my monitor. Okay. So, here's a document.
49:27Again, we had this weird handwritten
49:30thing that we weren't 100% sure what it
49:32was. It wasn't supposed to make sense to
49:35an accountant. It makes sense to the
49:36client. We had Chad PT go through the
49:39exercise and figure things out for us.
49:42Let's pull the document again just so we
49:44can see it in context. So, I got a
49:48handwritten document if you want to take
49:49a picture of this so you can look at it
49:51in your phone while I look at the Excel
49:54file so we can see what it picked up. We
49:56have rental income information, what
49:58looks like some expenses related to that
50:00property. We have the address of the
50:02property. We have uh what apparently a
50:05note about how much they paid for the
50:06property when and when they moved out.
50:09And and that's my that's my chicken
50:11scratch. I should have been a doctor. I
50:12know. Uh pay 20% down, 7% mortgage.
50:15Again, trying to simulate, you know, the
50:17real world. Our clients send us all this
50:19crap, right? So, uh we had to process
50:22this and this is what it came up with.
50:24Okay. So, first thing is is we got rents
50:26received. It actually tells me where in
50:29the schedule E this will go. And I would
50:32love to like test this in the real
50:33world. We might not have time here. Um,
50:35so here's the amount. The status is
50:37confirmed. Confirmed it. Okay. So, it
50:39just looked at the document. Then it it
50:42went ahead and and added the lines in
50:44the schedule E and saying, "Look, look,
50:46there's no amount provided here." So,
50:47that's pretty cool. Okay. Um, and then
50:50it goes in and just kind of breaks
50:51everything down for me. It's got
50:53mortgage interest paid to banks. Now I
50:55wonder whether it uh changed the number.
51:00Okay, so this is interesting. So the
51:02original document says mortgage payments
51:0418,000. And there's a reason why I put I
51:07paid 20% down 7% mortgage whatever.
51:11Specific reason why I did that is
51:12because I wanted to see if it's smart
51:13enough to not just grab the mortgage
51:16payments, put them into interest, and
51:18and try to figure out what it's the
51:20potential uh real interest uh that I
51:23have to extract from here. I find it
51:25pretty awesome. Here's a tentative uh uh
51:28rental uh real estate. Here's some like
51:31open items that is telling you, look,
51:32you should probably look into these
51:34things. you know like none of this stuff
51:36is you know I had to make a lot of
51:38assumptions to get there but you know
51:40support you know is there a fair market
51:41value convent comversion
51:44when you went from personal to business
51:46you know get the actual closing
51:48statements actually walking you through
51:50you know what would the open items be
51:52you know because just what it gave me
51:54wasn't enough let's see the inputs and
51:56assumptions so that's pretty cool also
51:58so here's the inputs it picked up the
52:00tax year I guess implied on the
52:02conversation right picked up the
52:04address, picked up the rental start date
52:06when it moved out. Not that important.
52:09Um, here's, you know, some some
52:11information here. Another summary
52:12summary of what was handwritten. Here's
52:14uh some mortgage assumptions, right? So,
52:16I purchased like if you're not listen if
52:19you're not blown away like if you're an
52:21accounting professional and you're not
52:23blown away by this and like high-fiving
52:25everybody that's around you or like
52:27high-fiving yourself because you're just
52:29blown away at like how much AI has come
52:32along and the stuff that it can do. I'm
52:34sorry to say you got no soul. Anyway,
52:38that's a joke by the way. I didn't mean
52:39that literally. Okay, that's that's my
52:41that's my that joke that I always say.
52:43So, there's the purchase price, there's
52:45the down payment, there's a calculated
52:47loan amount. Again, it's an exact no.
52:49Um, and here's and look, even tells you
52:51little notes saying, "Hey, I made this
52:53assumption. I assumed it was 30 years,
52:56right?" And then you can change it here.
52:58And I assume that if you change it, the
53:00numbers change. I guess not. Or maybe um
53:03I guess we have to tell it, hey, make
53:04sure that formulas are dynamic. If I
53:06could change things. Uh got the purchase
53:08date here. And then it's trying to
53:10figure out, okay, like based on this,
53:11I'm going to make a mortgage estimate.
53:13And of course, the thing did a freaking
53:16um amortization schedule. Uh again,
53:19simulated amortization schedule based on
53:21the little notes that it read from it to
53:23extract principle and interest. Okay, it
53:26did this all on its own. I didn't tell
53:28it to do I mean, I kind of told it to do
53:29that, but it kind of figured this out.
53:31It figure out the period, you know,
53:33which this belongs to. It didn't even
53:34take the whole year. It took part part
53:37of the year. So it's like the note says
53:40that I started renting it in April. So
53:42it's not going to give you the whole
53:43thing. It's just going to give you that
53:44piece. Okay. Then we got depreciation
53:47and the thing even assumes depreciation.
53:50Okay. So there's I I wrote there's a
53:53there's a line. Let me show you. There's
53:55a line for improvements. So it's also
53:57making the assumption that improvements
53:59are not, you know, deductible. It took
54:02them out of the schedule E. it put them
54:05into this other schedule for
54:06improvements and it's giving you some
54:09potential uh depreciation. Okay, here it
54:13says um uh rental building depreciable
54:16basis 360. Why is it using uh a
54:19difference? I would love to know why
54:21it's not using 450. Uh maybe separating
54:24land like who knows like I would have to
54:25go into a little bit deeper to figure
54:27out how he came up how he came up with
54:29that. And then some source notes. So, I
54:31actually went in there and says, "Here,
54:32look, based on everything that I did,
54:34here's everything that I did. Here's my
54:36confidence level. Here's some notes
54:38about what I did." Woof. I mean, I I'm
54:41just like, I'm telling you, I do this
54:44once a week. I do a webinar. I do I do a
54:46different example each time, by the way.
54:48Like, I literally just hand wrote this
54:50note um uh earlier today just in case
54:54somebody were to ask me about a
54:56handwritten note, and I went ahead and
54:57did it. Um, but it's I'm blown away
55:00every time I give it like a new little
55:02like thing and and just what it can do.
55:06Uh, so it's just like just really really
55:08really great. Really great. Just blown
55:11away. So I'm going to give you I'm
55:12saving all these documents and what I'll
55:14do is I'll I'll put them in a I'll put
55:15them in a folder and uh once I email you
55:19and um and and let you know um
55:23copies of the slice of stuff, you have
55:25access to it and you can do and you can
55:27do that. And by the way, Christine says
55:28that she figured out the difference
55:30between the preachable base. It figured
55:32out to take 20% uh for land. Yeah, it's
55:36great. Um I love that. Now, we don't
55:39have time to get into like building an
55:42app, but
55:45you can very much have Chad build an app
55:48for you. Uh the way you do that is you
55:51go into Chad PT and you go into CEX. Um,
55:54and then in Codex, then you're gonna
55:56say, "Hey, you're gonna choose a
55:58project. Choose the folder." By the way,
56:00I I write apps all the time. I have an
56:03app called write tool. I don't know if
56:04we have any right tool users in the
56:06house here. Um, and all the time I'm
56:08going in there and I'm saying change
56:09this, change that, and I like
56:11experimenting with building tools for my
56:14own app um, in it. And like I don't know
56:17any code, and I still don't know any
56:18code. I've gotten really good at
56:19building apps with this. So you would
56:21start a new project here and you would
56:22say literally you would say build an app
56:24that can do XYZ. It would build the app
56:27locally like it would literally like run
56:30inside your computer in that folder. And
56:33then if you want to take it to the next
56:34next next level, you can publish the app
56:38by going into this area called sites.
56:41And sites is a way that you can turn
56:44your ideas into a website. And that
56:46website could be the app itself if you
56:48want it to be cloud-based. And there's
56:50all other ways to do it. Sites is it's
56:52the chat GPT response to like GitHub or
56:56or Versel or something like that. Again,
56:59I topics for a different webinar, right?
57:02Um so hint hint, we probably want to do
57:04one on on building apps and what that
57:06looks like in the accounting world. Uh
57:08and that's something I do with Reframe
57:10anyway. Um you know, so if you're part
57:12of Reframe society, you have access to
57:14all that. Uh but uh but yeah, that's
57:16kind of the way it is. And like look, it
57:17even prompts you here. build a new
57:19feature, app, or tool. And I want to say
57:21build a prototype. And then I say
57:23prototype of a
57:26uh really really really basic uh
57:29QuickBook style app, right? Something
57:31like that. And then you go in there and
57:33it'll do it. Again, we got two minutes
57:34left, so we really can't get into it,
57:36but it'll start doing that. It'll
57:38publish it. Like it says it says using
57:40the sites building skill because it
57:42assumes that you want to have that
57:43public, right? So So that's how it it
57:45goes outside of your computer.
57:48and it is public. So, I will uh I'll
57:52stop it there so we can have a a clean
57:55ending here. Let me get my slides back
57:58just so I can have my email on the
58:00screen. I'm going to read the questions
58:02one more time just to make sure that
58:04I've covered all the uh open questions
58:07we have here. Um give me a second while
58:10I get the slides back up and with my
58:12email because that's really important.
58:14people at this point, this is where they
58:16go, oh, I had a bunch of questions that
58:17weren't answered. You know, Hector, how
58:18do I get more help? How do I know you
58:20where I should take my firm, you know,
58:22like what should I focus on when
58:23learning AI? That's what my email is
58:25for, right? To like cover all those
58:27loose ends that maybe I, you know,
58:29weren't able to cover in this webinar
58:32where we covered a lot. So, there's my
58:34email if you want to learn more about
58:35what I do and um and some suggestions on
58:38like where to go from here. But I would
58:40love to know in the chat in a scale from
58:421 to 10 how much and how valuable this
58:45two-part series has been for you. Uh
58:48that way also the RAM people know does
58:50it make sense for us to continue to do
58:52more of these uh go deeper, go farther,
58:57that sort of thing. And with that being
58:59said, I'll let the RAM team wrap it up.
59:01Thank you everybody.

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