AI-Powered Accounting: Top 5 ChatGPT Use Cases for Modern Firms

Okay, we're gonna get, I think we're gonna dive pretty much into the content today. So if this is your first time to one of our sessions, particularly on chat GPT, I usually go through and talk a little bit about what we've covered before, some of the history of chat GPT and stuff like that. Instead, what I'm gonna do is I'm gonna assume you've all got a fairly good knowledge of it and if you haven't, let me share with you some places you can go to to catch up. So and I'm gonna. My team are going to be scrabbling now to get links to put into the comments for you. So the first thing is we wrote a couple of months ago an ebook on chat GPT for accountants and bookkeepers. If you'd like a copy of that, it's free, then just, we just need to know where to send it to. So my team will put in, probably Sarah will put in the comments the link so you can get the ebook if you're watching on the replay. We'll put it in the description below. We've also done a. We've got quite a few videos as well as live streams on the YouTube channel. And so if you are a complete newbie to ChatGPT and you don't even know what it is, haven't got an account yet, then I recommend that what you do is go and watch the video we did a few weeks back, Emily and I, on firstly why you must start using ChatGPT. It gives you the benefits, the reasons for it. We have another video on step by step guide on how to set up your account. So if you haven't got an account yet, go and watch that if you want some ideas of how to use it in your accounting firm as well as today we did a video called Five Ways that ChatGPT Can Transform your Accounting Firm. We did one on the weaknesses. You must be aware of the weaknesses. I'll tell you about one very shortly. This is critically important. If you don't know and you use it wrong, you potentially open yourselves up to a negligence claim. I'll explain very soon a little bit more on that and then if you want to use it for growing your accounting firm. Emily and I did a video as well on that. So it may well be that if Emily's click on the button, she might be able to grab all the links to those and put them in. But what we will definitely do is Emily, if you could post them in the description tomorrow so that people can find them underneath the recording if they want to catch up with those. So I think the other thing we normally do is at this stage is go into what's the latest news, because we've been doing these every two weeks and wow, there's been so much happening in the world of AI in the last two weeks that we could spend a full hour doing it. And I don't want to do that. I want to get into the content and what Emily and I are doing. And the rest of my team is finding what are the things that are relevant to you in the accounting profession at the moment? For the last few weeks, most of the news is in stuff that's impacting on the way that you. You can create video and images and a lot of it. We're struggling to find the use cases for our profession, so let's not worry about all that stuff. There is some exciting stuff going on in the world, but I want to focus on the things that are most important. So two things. The first one, the first thing is there was a development a few weeks back in ChatGPT which you may or may not be aware of, but you can now share your chats and that is really cool, particularly given the fact that we've got a technical issue today. So it's actually solving a problem for us. We'll talk about it later. But you can share your chats now. That's great. If you have a team of people in your organization and you want to collaborate on stuff, we might talk about it more later. It's really easy to do. I'll show you how you do it. We will be doing it out of necessity. So that's a really cool feature if you've not seen it yet. It's also, I think its biggest use is to share your chats and work collaboratively with your team. But also.

If you are in our Facebook group, AI and ChatGPT for accountants and bookkeepers and you want to share some of the things you discovered, you could share them with other people in the community. So we'll talk about more later. The other thing I want to share with you, I mentioned about the weaknesses I put in our Facebook group about, I think two weeks ago now there was a news article on the BBC which made me smile because it was about how a firm of lawyers seriously messed up. But it's got a very, very serious message. So we talk about the weaknesses of ChatGPT and it's amazing tool, but you must be aware. And one of the big weaknesses is called hallucination. What that means is it's a large language model. So what it does is it's brilliant at, at doing stuff with text. It predicts what the next word should be. But if it doesn't know the answer to something, it has a habit of making stuff up. And it makes stuff up very, very convincingly. It's called hallucination. You must be aware of it. So the story that I posted, that the BBC shared, that I posted in the Facebook group, and if.

Anyone in my team are able to find that, they might put it, the link to it in the description or in the, in the comments. But essentially, in essence, what happened there was a lawyer and I forget all the details, but you can read the article. There was a firm of lawyers and a lawyer was preparing for a court case and it was something to do with. Well, I forget what it's to do with, but anyway, they were preparing for a court case, but they were going away from the office holiday or something. And so they delegated to a team member in the legal office to, to prepare all the papers needed for her when she went to court. And so the team member decided to use ChatGPT to create a lot of the resources. And it was great what it did. It looked fantastic. The lawyer who was going to court then got the feedback. The report that was pulled together, that was compiled, submitted it to the court, went to court. And this legal pact that was produced cited lots of legal cases. And in the uk, a lot of legislation is based on case law. It's based on previous, previous cases. And so in legal cases, very often there is quoting past case law. And as this lawyer is presenting their, their argument, both the, the judge and the lawyer on the other side was saying, what's this case law? We've never come across this case law before. And what about this one as well? And when they looked into it, basically all the case law that was used to support their argument was all completely made up, all made up by ChatGPT, which I think is really funny, but it's really serious as well. So we have to be able to spot that and know about hallucination. Okay, with that said, if you are not aware of that, check out that video we've got on our YouTube channel on the weaknesses of ChatGPT. Know the weaknesses because you could get sued if you get things wrong. Okay, so let's dive into today. Today we're going to talk about five use cases for accountants. We're going to be accountants and bookkeepers. We're going to be going live and and showing you chatgpt and walking you three things through the things that we've done. I do have Emily here. Let me just pull up Emily. Just some of you know her so some don't. Emily is our head of marketing and also part of our research team in AI and ChatGPT. Hi there, Emily. How you doing?

Hi, I'm good, Good.

Excellent. Is there anything that iPad's missed about the news or anything you want to add?

Not the accountant specific. Apple has gone crazy and released loads of new AI things and this amazing headset which is really fancy, not available till next year and cost three and a half grand, but really interesting if that's something that you want to have a look at. But nothing really accountant specific that we've tried to sift through all the stuff to give to you. So, yeah, pretty, pretty slow week.

Yeah. But you did a brilliant livestream two weeks ago on some of the plugins now, which I know you've been playing around with. And I caught up with that live stream. It was really, really good. There are more plugins coming out all the time. It's exploding, isn't it?

Yeah, yeah. And when I was on the live stream they'd actually added a feature where you can now search. So that's really, really helpful. And you can just type in whatever you're looking for. You want maybe a link reader or a marketing based thing or a finance based thing. You can type that in and search for the relevant plugin if you're looking through them and getting a bit overwhelmed.

Yeah, there's also, I discovered just, just over the weekend, I don't know if you know this, Emily, but there's now a plugin to help you find the rest. The best plugin to use, I think it's called. There's a plugin for that.

Yeah.

So I haven't explored that one yet, but that might be really, that might be interesting. For those of you that don't really know what plugins are like, think of when Apple launched The iPhone what, 12, 13 years ago and then they opened up the app store and suddenly we were just blown away with the various possible apps and most of us, most of us I think used it to play Angry Birds or Harbour Master. But now, now I think we've started to be aware of the power of apps on our phones now and use them regularly. And that's what a bit like what plugins are for ChatGPT. It is extreme. It's extraordinary. Okay. One of the things we. So we've had a couple of technical issues. I had a technical issue earlier because I reached my limit of chats on ChatGPT4. So I don't know how much I can show you live, but I'm going to do my very best. And Emily had a real problem. She can't do screen share for whatever reason. So the great news is we have this new share facility and Emily shared her chats with me so we can use my screen to do that.

So let's, let's dive in. I just don't know which one to do first. Emily, I think I might do one of mine and pass to you if that's okay. So, yep, I'll bring Emily back in about eight minutes or so and we're going to cover five things between us. So the first one I thought I'd do is because it demonstrates one of the plugins that we can use. I thought I'd look at how could we use ChatGPT to help us create engagement letters. So.

I don't know whether, let me see if this is going to work, otherwise I'll have to do. If those of you can remember Blue Peter in the uk, I'll have to do a Blue Peter mode and show you one I did earlier. So let me see, let's see if it works live if I go to. So here we are in ChatGPT and there is Chat GPT 3.5 which is the free model and if you Upgrade you've got ChatGPT4 and many, many other things. So I'm just going to use the ChatGPT4 and see if this works. So I created a prompt. It's quite a long prompt and one of the things we talk about a lot is that the better the prompts you give, when you create some context and give it better instructions, you'll get better outputs. So I wrote one that says as a UK based chartered accountant adhering to the ICAEW guidelines. So in the uk, I'm a chartered accountant that stands for the Institute of Chartered Accountants in England and Wales. So as a UK based chartered accountant adhering to the ICAW guidelines, draft a formal and professional engagement letter for a new client. Using headers and subheaders in bold, the letter should outline our provision of and I've put services in square brackets. You'll see why in a second. Furthermore, it should specify that the client must provide the necessary information by the deadline. Also, the letter should detail our pricing, structure of price and our termination process is termination. Include standard disclaimers as recommended by the ICAW and then What I've done in the prompt, and this is something you can do with your prompts because the more information you give, the better. And one of the things that you can do is start creating your own standard prompts with fill in the blanks. That's why there's bits in square brackets. So I might be saying, oh. It then says include placeholders for date, client name, your company name, signature, and then it says services. Services are bookkeeping services which include entering bank receipts and payments, monthly bank account reconciliation, entering sales and purchase invoices, reconciliation of sales and purchase ledgers, and VAT and payroll reconciliation. Deadline is the 10th of each mother month. Price is £1,000 plus VAT payable via direct debit on the first day of the month, termination requiring a 30 day notice in writing. So I wanted to show you that kind of style of prompt because what you can then do is you can make that a standard, any prompt, you could turn to a standard prompt that you use and at the end of it you just fill in the blanks if you like and say what each bit is. Also the other point I want to make, it says include placeholders for client name. So another things you need to be aware of with ChatGPT is the issue of privacy. And this all kicked off back in March when Italy banned it and all sorts of stuff's happened since then, which we've talked about in previous livestreams. So I don't want to go there right now, but you need to be aware of the privacy issues and you can turn privacy on in your settings and. Which I won't cover right now. But if you've got a question, let me know what questions you've got. We'll cover questions later. But I would always recommend that you don't put confidential like client names into your chats. Okay, so let me hit the, Let me hit the. Let's see what it comes up with and it might tell me I've hit my limit. Let's see. Yes, I've hit my limit today. I've been using it that much. We use it every day, it's that powerful. So I can go into 3.5, but actually I did as part of reaching my limit. I did test this out earlier. So let's just go to.

Here.

So that's the same prompt up there as a UK based chart accountant. I did, playing around with it, change a couple of little bits and pieces. But here's what it then came up with. It came up and it took just seconds. If you've used Chat GPT, you'll know it's incredibly fast. So it's come up with an engagement letter where I'd just fill in the date, the client name, address, etc. And it's got it set out with an introduction. There's the scope of the services, which is the things I said that we're going to do as part of bookkeeping information Provision, deadline of the 10th of the month. It's got the bit about the fees, it's got the bit about termination, it's got limitation of liability. Our work will not be an audit of your financial statements and accordingly will not necessarily involve in of terms inquiry of service matters or apply tests of accounting records, etc. It talks about the governing law and it's going to be governed by the English law because I said I'm a UK Chartered accountant, so it knows that. So it's a pretty good engagement letter. Now, it's not perfect, but it's pretty good. But what I want to show you next is something I've been playing with that I think is really interesting with ChatGPT. I was hoping to do it as a live demo, but I can't because I've reached my limit right now. But those of you who are in the. One of the things you have to be aware of with engagement letters is you obviously have to be aware of whatever requirements are in your country or your professional institutes. So, for example, in the uk, if you're a Chartered Accountant, you need to follow the guidance of the icaw, so you need to be aware of that. So what if you want to create a ChatGPT to create an engagement letter, but take into account things like institute requirements. So.

If I go to the website for the icaew, the Institute of Chartered Accountants, they happen to have on their website their own guidance. This is for me as a Chartered Accountant, is the guidance for engagement letters. Not only that, not only is there all this information here that the ICOW provide, but they also have a downloadable worked word document. So let me just very quickly see if I can find that. So here's the guidance notes from the icaw. It's a lot of notes here with sample engagement letters and so on. So why am I telling you that? Because one of the interesting things that we can do with ChatGPT is we can feed it information.

And it's easier now since they launched plugins a few weeks back. Now, to use the plugins, you have to be on the paid for account. And the paid for account is crazy cheap when you consider the hours it will save you every single week. So I strongly recommend, if you haven't done already, you want to upgrade to the Pro account that opens up ChatGPT4, but it also opens up plug plugins. So if I go back to.

The one that I did earlier, I would love to show this live, but I can't because I've reached my limit. But I'll describe it to you as I walk you through it. So the first point I want to make is we have various plugins now and if you let me just go to a new chat for a second, if you have got the paid for version and you go to ChatGPT4.

I've reached my cap, I can't show you on that account, but don't worry, I do have another account set up somewhere because we have lots of accounts set up in our business. And so when you go to ChatGPT4, so you can choose which model you want, the free model or ChatGPT4 and you'll see that you have the option to use plugins rather than the default. You have to select plugins and then you have to tell it which plugins you want. And before you can do that, if you don't see that, that's because you have to go into your settings in the bottom left and it's in beta at the moment. You need to turn on plugins. That's in the little lozenge button you can see in the bottom right of that box. So you will need to turn plugins off. Sorry, on. And then you choose the plugin that you want. You can choose up to three plugins. So for this, the plugin that I've used is called Let me go to Engagement Letters.

And.

There we go. So I'm using a plugin that Emily covered last week called Link Reader. It's called Link Reader. And Link Reader means you can insert a web address, a link to a PDF, a link to a Word document, and it will take on board all the information as part of the output. It does. Now the interesting thing is though, you can't get Link Reader. Suddenly it's disappeared from the store. And I've got a little unverified symbol next to it. This is brand new. Emily and I have never seen this before, I think, and we're only guessing because this is just. This is changing so fast, this world. I think that I'm guessing that ChatGPT OpenAI are looking at some of the plugins and starting to check whether they're verified or not. So maybe the Link Reader isn't available right now, which is a shame because it's a really good one. But it's not the only plugin that can look at web addresses, that can look at PDFs and Word documents. So there will be other plugins that you could use. So what I've done is I've said, using Link Reader, please analyze the website and create an outline for a professional engagement letter that a UK accounting firm would send to a client for bookkeeping services. And I've simply then just cut and pasted the address of the page with the Institute of Charter Accountants guidance notes. So now from that, it's got access via Link Reader to all the guidance notes that the ICAW provide and it's given me a really good suggested outline for a professional engagement letter. So I've got my outline that I've done. The next thing I did was I then wanted to also to create a template, a template engagement letter, but I also wanted to feed it that Word document, that huge amount of information. Now, with Link Reader, the way that you do that, just so you know, if you have a Word document or PDF, you. You upload it to Google Drive, which is what I did, I uploaded it to Google Drive and you then have to grab the link. But when you copy the link, there's a setting that you want to make it publicly available link, otherwise ChatGPT can't use it. So you simply. All I did was I uploaded that huge Word document into Google Drive downloaded from iCaw's website, put it into Google Drive, got the link to it, made it a public link, put it into ChatGPT and said, using Link Reader, can you please provide a template engagement letter and then base it on the document? And this is the link that I've got to that huge Word document. And so here it's done, it's gone. And this took seconds, it probably took about five seconds for it to go through that document and come up with a template engagement letter from For Bookkeeping. So I then said, great, using all the information above, I. E, it's now read the Word document from the Institute, it's read their website. I've now put that earlier post, I said, so using all that information, I want you to create an engagement letter for me and my client wants bookkeeping and the price is going to be £1,000amonth, payable by debit. So this bit's the prompt I showed you earlier. The only difference is now I've preceded it with prompts by getting it to read information and now it's creating this engagement letter and it's, as I read this, it's got things in here that weren't in the first one. The first one was pretty good. The first one where I didn't feed it any information was good. But this one got additional terms in there like confirmation of terms, termination of engagement, confidentiality and data protection because it's now been trained on the information provided by the icaw. Okay, so I want to show you that because I want to illustrate a number of points. You can use it for creating engagement letters, but also want to give you an idea of things, how you can create your prompts and how you can use some of these plugins to access websites, PDFs, Word documents. So I'm going to bring Emily on now and Emily's going to show the second thing. I'll have to make the next couple of demos a lot quicker. Emily. So, Emily, are you ready to show something?

Yeah. So hopefully if you make me full screen, I can change my camera and I should be able to.

Share.

Yep. Let's see if that works.

Okay, so hopefully, yes, that's worked.

Yeah, brilliant. So hope you can all see that.

Just like one tiny, tiny little point as well that ChatGPT has updated is that you can now hide the sidebar as well, which is useful. But yeah, just a minor little thing. I thought I'd just point that out. But what I wanted to show you was how to use it to respond to emails from, from clients or from, you know, all the people that you work with. Whether it's personal, but mainly business, what you can do is input your questions into ChatGPT and put, input the email and then say, can you suggest a response for me? And one of the key things with doing this is to use tonality and writing style and to try and get it to write in a style that is, is similar to your own personal, how you would respond to that email. So you can use sort of phrases to, to get it to generate something good for you. So I just put in this. First of all, I actually asked, I asked it to create me an example email. So this is just an example email that it made up for me. And this is saying, so hope you're doing well. Quick question. We're expanding the team and I could use your guidance on hiring a new employee. So this is a potential email maybe you might get from somebody. If you're, you're a bookkeeper or an accountant, they've, you're one of your clients is taking on a new member of staff and they, they need some assistance in setting them up. So it gave me this email, since we're based in the uk, I want to make sure that we are on track legally and financially. Can you give me a hand with this? So I then pasted that in here and, and I've said, can you help me respond to this email? And I've then given it some instructions on what I want it to do in that email that it's going to write. So I've said, can you write a response that is comfortable and friendly, but still professional in tone? Can you use short sentences and try to keep the language simple and easy to understand? And in the response I will need to ask for the relevant details in order to set up the new employee. And also I need to mention that this will push them to, to a higher price for their service as the scope of the work has now increased with the extra member of staff that they're taking on. Please make the email as short and concise as possible. So I often add that, I often add with things like this for emails, please make it concise because it tends to go off and write a full massive paragraph and normally when I'm corresponding with people with emails it's a lot shorter. So I always ask it to be short and concise. I've asked it to be friendly but still professional. So this is what it came up for with that response. It said, hello, it's always great to hear from you. I'm glad to help you through this expansion process for setting up payroll and pension. We'll need a few details from your new hire. Could you provide me with their full legal name, date of birth, national insurance number and the start date and salary details. Just a quick reminder, as the scope of my work increases to include these new responsible, there will be a slight raise in my fees. I trust you understand. So that's a pretty, pretty simple box standard email that it's given me. And I then went and tried to add a few details to that. So I said, can you add something along the lines of if they want a meeting to discuss that price, they can book it in. And it then updated the email and it just put down here, if you'd like to discuss this further, we can certainly arrange a meeting at your convenience. So it just phrases it in a nice way and it's saves me the trouble of, you know, I can just put what I roughly want to say into ChatGPT and it will phrase it for me in a really nice way. I then asked it can you add a line with fill in the blank with the price increase? So I wanted it to more than just say this is going to increase your price. I wanted to give this is the current price you're on and this is what the price is going to be. So to just put a little bit more detail into that email, so I asked it, can you add something like your current package? You pay this amount for this amount of employees. This addition will take you over the next bracket and therefore your payment will change to this amount. So I've just put this amount and this amount where you could put X amount. You can just put whatever you want in there and it understands what you're trying to say. So it then added this line with your current package covering current number of employees. It's put there in the square brackets current cost. The addition of a new team member will move you to the next tier. Therefore your new monthly cost will be and then the new cost you can input into there. So that's just an example of that particular scenario if somebody's coming to you and the scope is changing or they need advice on setting that person up. So I then asked it to write me a couple of different emails. So a couple of scenarios that I thought of here were so this one is, can you write an email from an accountant to a client reminding them of an upcoming deadline to submit the necessary financial information? So it needs to mention that failure to meet the deadline will result in an extra charge and potential, potential consequences might be that the work is not completed in time and the repercussions of that. Keep the email concise and write in a professional style, but make it conversational and light hearted and friendly. So I often add, even when writing something professional, I often add that, that caveat of make it conversational and light hearted because I find that if I just tell it to write it in a professional style, it can be quite stuffy and, you know, over the top professional and there's no kind of warmth or nice niceties, you know, in this one it's put I hope this message finds you well or it's great to hear from you. It doesn't put any of that sort of stuff in there. So I do always ask it to give it a conversational tone. So here's what it's done. Friendly reminder. I hope this message finds you well. Just a quick friendly reminder that the deadline for submitting your financial information is fast approaching on specific date. To ensure everything runs smoothly, it's important that we have these details in time Failing to meet the deadline, I'm afraid, does lead to a late submission fee. So I wanted to give you a nudge to avoid any unnecessary charges. More importantly, there could be a delay in finalizing your accounts, which we all want to avoid. Think of it as a friendly race against the clock. Let's cross that finish line together comfortably ahead of time. Should you need anything, then I'm only an email call away, so quite, quite conversational. A little bit of a joke there. Think of it a friendly race against the clock and if that's not your style and you'd rather it be a little bit more professional, then you can just go back up to the prompt and adjust that and give it something slightly different and say, I, I don't like that line, or can you make it a bit more professional or remove that line so you can edit these as well? I did give it one more example here as well, was in that difficult situation where somebody has now missed the deadline and you have to go back to them and say you have now incurred that late fee, which hopefully, if you're pricing using the methods that Mark teaches, is you've already agreed that in the scope and said, you know, the price is based on the fact that you're going to give us the information at this time. Then when they do fail to meet that, I've given it this prompt and I'll rush through it for you, but it's basically saying, I need you to mention that there's a penalty for the rush job, but I want you to be really understanding, ask if there's anything you can do to help. So the response it came up was, I noticed we missed the financial information deadline. I understand that things don't always go according to plan. We're all only human, after all. However, to keep things on track now, we'll need to move forward with a bit more haste. Due to this, a rush fee will be applied to expedite the work that needs to be done. Our new deadline is now this date. If we fail to meet this one, I'm afraid we run the risk of missing the legal deadline for submission and this could lead to penalties from the tax authorities. So it's done everything that I've asked it to do it. It's done it in quite a sympathetic way that I asked it. So I did give it here, the prompt. In the prompt, I said, can you offer support and understanding in case the client has missed the deadline through some personal reason? Because that might be the case. Things get on top of each other on Top of you and sometimes you just accidentally miss the deadline. So I did put it added this nice bit in here as well. If there is something that's caused this delay, please let me know. We're here to support you and if there's anything we can do to make the process easier for you in the future, we're all ears. So it's made a really nice email and sometimes it just helps you put into words something a little bit better than maybe you can do off the top of your head. It helps you phrase it in a nicer way and add those nice little details of if there's anything we can do to help. It adds those nice little personal touches and just saves you a lot of time in doing so as well. So with that I think I will pass it back to you, Mark, if that's all right.

Thank you. Emily.

You're not on screen there. You're back. Yes, that was, that was fantastic. It's very good for writing those sorts of things. Okay, I'm going to. Yeah, let me firstly answer a couple of. There's lots of questions come in, but one that has just been asked was Alan says, what is the limit that you reached? So if I just go back to here in ChatGPT4 and it does say here, I'm highlighting right now in blue. GPT4 currently has a cap of 25 messages every three hours. So in my preparing for this session I must have hit my cap of 25. I'm really surprised I did. But I sometimes get carried away with ChatGPT. So it's a limit of 25 at the moment, every three hours. That limit's been in place for, for quite a while now. So that's. Alan says that and Catherine Chung says is the free model come with limits as well? The free version is much more restricted and the biggest reason to upgrade I think is always availability. But let's. I'm going to talk about that later. I think we'll deal with questions later. I'll bring Emily back in because I think a few people have asked about the difference in the free version and the paid for version. Okay, I'm going to do, Let me do another use case. So we've looked at how we could use it for engagement letters and I've used that to show you how you can also take information from the web or Word document. Emily's done talking, answering client emails, which is a great use case. Another great one is writing systems. So I've just written one here. Hopefully it'll work. I'm in a different account. Now it says please devise an educational step by step process, including at least three post onboarding steps for a Canadian accounting firm to effectively onboard a new small business client. This process should handle a mix of digital and physical paperwork and aim to exceed client expectations. It should highlight the firm's specialties such as bookkeeping, data cleanup, payroll services, setting up cloud accounting systems and providing business advice. Each step should have a one sentence explanation and the overall process should encourage the client to refer others and provide a testimonial. The process should consist of at least 10 steps in total. Now you might be thinking that's a long prompt and you could simply type into chatgpt, Please create me a onboarding process for my accounting firm and it'll do a really good job at that. But the more context you give it, the more instructions you give it, the better the output you'll get. As I've often said before, think of talking to ChatGPT as similar to talking to your latest employee. The better the instructions you get, the better the result you'll get back. So let's hope I've not hit the 25 limit and let's see what it comes up with. So here it goes. It's now creating for me.

An onboarding process. I've asked it to come up with at least 10 steps, so hopefully it will give me 10 steps. So we can see here we've got the initial consultation to meet with the clients, discuss their needs, etc. Let me just click that cross. That's in my way. That's the new feature by the way, the sharing feature.

I missed it then. Okay, I was too busy talking, but there you go, it's come up with 10. It's come up with 10 steps. So.

Step number 10 request for testimonial and referrals. That's pretty cool. Monthly check in meetings provided business advice. So some great stuff there.

As a starting point. Interestingly, one of the points I want to make is that it's a different answer to what I got an hour ago when I was, when I was just testing this out. Every time you use ChatGPT, you will get very often a slightly different answer. And the other thing that you can do is if you're not happy with the answer, you can either, as Emily was saying, ask it to do it in a different way, you can give it some different instructions, or you can simply hit this button at the bottom called regenerate response and it will have a second go. It's a bit like saying to the employee. That's great. But do it again, come up with something different next time. So if I regenerate response, then whoops, hit the wrong bit with my mount trackpad. Here we go. So now it's having a second attempt at doing it.

So. And some of it will be similar, but there'll be some differences in the process. So I can't remember what the previous 10 steps were, but I can toggle backwards and forwards. It's going out of shot now, but it showed two out of two. I can. Here you go. You can on the left. You can always go back and to see different versions. So it's not gone that first version. We just now have the second version which.

Is pretty good. So what we can then do is if you're using it to create processors and systems, what you can then do is that's a starting point. That's just a starting point because we can build on that. So I think let me just. To save you, watch me type. Let me just do cut and paste here. So let me just check. The first step was. Yeah, initial cut. So the first step says step one, initial consultation. Begin the onboarding process by setting up an initial consultation with the new small business client to understand their business needs, current financial situation and expectation. This allows the firm to tailor its services to the client's unique requirements. So we can take that first step and now we can say something like please. So for step one, please provide a template meeting agenda we can use to structure that meeting. So I just hit return and it's now going off and thinking and sure. Here is a template for the initial consultation. Meeting agenda. Meeting agenda. Initial consultation with some new small business client. Introduction, 10 minutes. Introduction, 10 minutes. Welcoming the client. Brief overview. Understand the client's business. 20 minutes where you ask about business background, structure and so on. Client's accounting needs, financial health assessment, presentation of our services, discussion on next steps, question and answer, session and closing remarks. So it's not the way I would necessarily do it. I might change a few things. But that's a pretty quick meeting agenda you've got there. And you could go through every step of that process it's come up with. So I think it was 10 steps in the onboarding. And for each of those 10 steps, you could then ask it to then create for you the standard email, the meeting agenda, whatever it might well be. Okay, I'm going to, I think, pass back to Emily. I do want to share one more thing though, very quickly before I do, and that is this new sharing feature. So earlier when we were just getting ready for this session, Emily had some problems and couldn't share a screen. And we're thinking, how on earth do we get around that? So what she did was she used the new sharing feature. And what that means is that she let me just go back to the chat.

So step one is when you now have your chats on the left hand side, you've always had a button to edit and delete chats, edit the title and delete them. But now we have a share button appeared in the middle. There's a share button and if you click the share button, you have a link that you can then share that chat. So if you share a chat, which Emmy did earlier, it opens up a page that looks like this. So Emily shared this with me and this was the can you help me respond to this email? And I can see all of Emily's chat that she's created around that idea.

But here's the really interesting thing. So it saves her copy and pasting and sharing things with me. She just shares that link and I've got access to her full conversation. But even better, I can now build on this conversation because at the bottom it says continue conversation. And if I press that button and continue, what it does is if I press it right with my trackpad.

What it does is it pulls it into my version of ChatGPT. So now I'm in my version of ChatGPT. Here's Emily's prompt. It's now appeared in my chat and I can add something to this. So we could work collaboratively on something, which I think is great. If you want to work with your teams to do stuff, to work on something together, like building a system with your team, you can then share it backwards and forwards and build on it. Great new feature. Okay, Emily, if you're ready, I think we can. We've done three. Now you've got something else really exciting to share. So do you want me to go to your full screen and then we'll answer some questions?

Because we've got lots of questions as well. But Emily, let's look at number four and then we'll do questions. Do you want me to go to full screen?

Yes, please, yes. So the next thing that I wanted to show you was another marketing based thing is how to use ChatGPT to help you create a landing page in order to capture your some contact details. So let me just switch over my screen again here. So in this conversation I've actually used the web browsing feature. So I Started a conversation on GPT4 and used the web browsing feature because I wanted to ask it something later on, which I'll show you. And also, just as a point to add, Mark's obviously struggling at the minute with he's hit his cap and you get 25 messages every three in three hours. I think.

What I've started to try and do is pick and choose which model I'm using. So I use ChatGPT 3.5 because there's no limit on that one, to do quick, simple things and then once or I use it to kind of build a better prompt and then when I'm happy with that prompt as it is, I then copy and paste it and put it into GP4 GPT4, because then it uses my credits if you want my 25 messages. So I try and make sure that the prompt is as good as I want it before I put it in here. And I'm also trying to get it to do a lot of things. So if you give it one kind of task to do, it'll give you a really, really good, fully fleshed answer. But if you give it three or four or five tasks to do, it'll give you a good summary of each one. So in this prompt that I've given it, I want you to help me build a lead page. And I've asked it to do quite a lot of things. So I want you to create a lead page to drive traffic towards for me to drive traffic towards that lead page and capture contact details. I need to give away a great piece of content in order to get people to give their email address. Can you suggest a great piece of content? I'm a bookkeeper specializing in professional services such as consultation, lawyers, doctors and so on. Can you suggest the content to give away on the lead page? Can you suggest a title for that content? Can you then also suggest potential wording for the landing page itself, including calls to action and the button text? And can you also suggest a potential layout and the images I might use on that page? And can you then give me a list of the 10 best practices for lead pages and be sure to incorporate all of those best practices into the information that you provide with me? So I've given it a huge task to do there. And normally what I might do is ask first of all, what content might I do? And then in a second prompt say, can you give me a title for that? But what I'm doing now is I'm just asking for it all in one because it might give me a pretty good answer straight away and I don't want to waste my prompt prompts. So if I want to expand on it I can. But I've got a general response here. So it says Create an engaging and effective lead page involves a careful balance of delivering valuable content, making a compelling offer, and designing an intuitive layout. As a bookkeeper specializing in professional services, you're in a great position to offer insightful, valuable content that will be highly appreciated by your target audience. So let's break it down into the different components you asked for. So it's given it me a little bit little heading for each of the different tasks I asked it to do. So first of all was what content to give away. And it has told me that I could write an ebook or a white paper that provides valuable insight and it suggested a title for that Navigating the Numbers A Comprehensive Guide to Financial Management for Professional Service Providers. So if you're happy to go ahead with that title, then that's great. You've got it in the first prompt. If you wanted to then go to now that you have the idea for the content, you might then go to GPT 3.5 and get it to spitball some some extra titles for you without using up all of your prompts in GPT4 for that. So that here in the same response it's given me the wording for the landing page. So we've got Master your finances with our free ebook, Learn the secrets of effective financial management in the professional service industries. And also the text that it's giving me here is quite vague. So if I was to add some more complexity to that first prompt and rather than just say I'm a bookkeeper that specializes in professional services, I might give it a lot more information. Here's my client. Here's my ideal client that I like to work with. Here are the specific services that we do. I might give it some more information to get some more.

Complex and nuanced response here. It's giving me the call to action that I might use on the page. So I put yes, I want my free ebook now. So that might be what goes somewhere on your page. And the secondary one is join the community of professional service providers mastering their finances. It's given me suggestions for what to put on the button text. So we've got get my free ebook or join now. It's given me some layout information so clean and professional. Use images that relate to your target audience. Make the email input and CTA button the focal point of the page. Use contrasting colors and add testimonials and logos. So it's given me a brief layout ideas and then it's given me here that I asked for the 10 best practices for lead pages and it's given me in quite a succinct, nice concise way as well. So normally if I'd have asked for that as its own prompt, can you give me the 10 best practices? I would have seen a response as long as this entire prompt. But what I've got is a bit of a shorter answer, but it still answered everything all in one prompt. So that's really, really useful. The next thing I then did, which was the browser part of this is I then asked it to use the website, use the web to.

Find the best tools to do that job. So in order to create this lead page that captures emails, I will need to use several tools including a landing page builder and an email system. If there's anything I need, anything else I need, please advise me on this. Can you find me the best landing page builder with the pros and cons tables for the top two, give me a price breakdown for each and then also I'm using mailchimp as my CRM, so please suggest a way that I can incorporate the new landing page builder into my email system. So I'm giving it again a really big prompt with lots of things to do and it's looked onto the web so it does tell me here all of the places that it has clicked. So it searched for the best landing page builder, it's found a great article and then it's looked at the two top ones, found some more information and it's then given me this response, it's given me leadpages and get response, it's told me the pros and cons, it's given me a summary of the prices for both of them here. And then it's also said regarding the integration with mailchimp, we've also it can't give me exact instructions because it doesn't know which one I'm going to go with. So I would have to follow that up with another prompt and say I'll go with leadpages, can you get me those instructions? And it will have another go. And then I did also ask it for advice on extra tools that I might need. So it does say here as well. You might also want to consider tools for analytics, SEO to optimize your page, and perhaps a graphics tool to add images and icons and logos and stuff to the page as well. So that's kind of showing you that it can help you with landing pages and also that it can now do a lot of prompts all in in one. If you're happy to get that large summary answer, if you do want a more focused answer, then you can break it up and use more prompts to do so. But that's just showing you how that might work.

Okay.

Oh, I assumed you were done then. Yeah. Okay. That was awesome. Emily. I learned something then because I now know why I reached my 25 limit. Because one of the things we both do, we know the power of prompt engineering and creating better prompts. So I spent my time with we have a process for getting, reiterating, getting better prompts so we get better answers. And I should have done that in 3.5, silly me. Thanks for teaching me that one, Emily. I will use 3.5 more often. Okay, a couple of quick we're going to have some questions soon. First, if you've learned something valuable, just give it the thumbs up or the like or whatever what platform you're in, let us know by hitting the like button, the thumbs up button in the social platform you're in. Also, what's the best thing you've learned in this session? I'd love to get some feedback. Put it in the comments. What's the thing that's been the most eye opening? What's the thing that you're going to go and try and we were going to do a fifth one but we've covered so much stuff. What we were going to talk about is the next idea is how to use it for business advisory. But actually the great news is is we are running the over the next three days we're running the business advisory masterclass and today is I think the last chance to get free tickets. Is that right, Emily? So if you want to come along and spend three days with us and learn how to do business advisory and we're doing some chatgpt sessions there as well. Then we're going to put the links below somewhere you can it'll take you to a web page that looks like this and you can grab your free ticket for the masterclass. It starts tomorrow, so you'll need to act fast because tomorrow the price goes up to I think it's $297. Is it, Emily? Yeah, but they're free if you get your tickets now. So link will be coming into the chat box fairly soon. Right? We have three minutes left and so many questions. I think we might overrun a little bit today because we've, we've had so much content but also lots of questions as well. And I also want to give a shout out to because I've not seen her for a while. Leslie's here from Canada, a fellow biker so she does mountain biking, I do road biking. But good to see you Leslie. Questions, questions.

I think I mentioned this earlier. Catherine said, is the free model come with limits as well as you said, Emily, it's not you can do. There's no limit on the number of.

Prompts you said, is that correct?

Yeah, there's no limit on the prompt, but you only get access to 3.5 which is the earlier version. So the responses that you get are still really, really good. But you don't get access to that next model, GPT4, which gives you better answers and can handle a lot more as well.

Yes. So you don't need to pay for it. Someone else said I think who was it? I don't know who it was but because they're in the Facebook group, but said that accountants tend to like things that are cheap or they don't have to pay for. So Emily, what are some reasons why I think that 3.5, the free version is a great place to start and have a play around with it. So definitely get the free version to start with. But Emily, what would be a couple of reasons why people would want to consider paying for the Is it called Pro or Plus? I always forget Plus.

I think it's called Plus.

Yeah.

So.

The big reason is you get access to GPT4, which is the latest model, which is a better language model engine and it just produces better answers for you. It also gives you priority access because there's over 100 million users and sometimes it's going to run a bit slow because there's so many people using it. But if you're on the paid for version, you get priority access and you also get access to all the new features that come out. You get access to that before anybody else. So the plugins that came out, the web browsing features that came out and the new things that are going to come out in the future with code interpreters and all the other things that you add to it, you only get that if you're on the paid version. So those are some reasons to get it.

Absolutely. And I know Justin's had his question answered by Sarah in the chat box, but if you haven't yet got an account, just go to the website and you can. I think they. I think Sarah's put the link somewhere. It's OpenAI.com to sign up. But I recommend if you haven't got an account. If you haven't got an account yet, watch the video that Emily and I did on our YouTube channel, which Emily walks you through the step by step process for signing up for the account. It's really easy, but she gives some great tips in there, don't you, Emily?

Yeah.

Okay.

Ava says, do we copy and paste to a word document from ChatGPT?

You can do, but there's a. Let me see if I can show it. No, there's a cut and paste option. So if I just go across here. So when you've got your answer.

Why can't I see it? Because I'm not. That's because I'm not in the right place. Yes, that was on the shared bit. That was. Once you're in ChatGPT and you've got your answer, you will see this little clipboard symbol to the right hand side. You just click on that, it'll give you a little tick and then you go into Word or something. You should just do Control V to paste and that will paste in the answer.

Sorry, lost you. Emily, anything to add to that? Emily?

Just. Yeah, just paste it to wherever you're using it. If you're writing an email, you can just copy and paste it straight into your email provider. If you're using Gmail or something, just paste it straight into there. You don't need to put it on document if it's. Unless it's something you want to save and keep in your files.

Yeah.

I don't know the first name, but this might have been my fault. For are Pro and plus different? No, I think I just get. I sometimes forget what they call it, but it is plus. It's chatgpt. Plus is the one you pay for.

So Catherine says, what if we notice some edits are required and we want to regenerate another version? Do we have to repeat the steps that we started or is there a way to do to adjust those deltas? Emily, what are your thoughts? And I might add something.

So you can either copy the prompt and paste it back into the chat box and then make your edits, or you can just look at where the prompt is and there's a little pencil icon next to it and you can click that and reopen the prompt that you've already done and just make your edits on there. If you are regenerating the response, it does use another one of your 25 capped messages. So even if you just hit the regenerate response button, that uses one. If you edit your prompt and get it to have another go with the editor prompt, that uses another message as well. So just bear that in mind.

Yeah, and the other key thing to bear in mind.

Is to be conscious about the decision as to whether or not to start a new chat or not. So within a chat, ChatGPT remembers, usually sometimes forgets, but it remembers the things in earlier chats. So it builds and builds and builds like some of the things we've shown today. And so sometimes you'll want to go back to chats and keep adding to it because it remembers, whereas if you start a brand new chat, it's not going to know what you said in other chats.

I think we might be close to answering all the questions, I think. And there's more come through. There's always more come through and we are. We normally stop on the hour, so I might do a couple more.

So this is a simple one, I think an easy one to answer. Sybil said.

If you upgrade to to the plus, you still have access to 3.5, you get a choice. So every time, every time, Sybil, that you start a brand new chat and you're on the pro version, you will see in the top you can choose whether you want to use 3.5, where you've got no restrictions on how many cut chats or whether you use ChatGPT4. And if it's Chat GPT4, you can either have the default 4 or you can have plugins or access the Internet. So you've got all that choice with the, with the plus version.

I don't know whether.

Sybil says she's already paid for.

No, I don't understand your question, Sybil, because you can't have paid $97 because advisory masterclass. Oh, sorry. Ah, yes, you get. Okay, and that's been answered, I think, is that right? Someone answered Sybil's question?

I'm not sure, but if not, then Sybil, you can, you can either email us, but what I think you've done is bought the recordings for the masterclass. This week your ticket was free, but you bought the recordings. But tomorrow it goes up to $297. So if you've already got your ticket, then you'll find your sorted.

Yeah, Sasan says is GPT4 the first instance that is web linked. Yes. You cannot access the Internet from 3.5.

The next one I'll let you answer if you can remember what is AutoGPT? You understand that better than me, I think Emily.

Yeah, I did the research a while ago.

It was basically about using code to build kind of almost variations of GPT. So you would give it like a personality or a job. You would tell it to be a certain thing like I want you to be my virtual assistant that is an expert in finance and knows XYZ about this sort of thing. And it would remember that and it would, that would sort of become its personality. And you can then give it different prompts and it would always remember that. But it's to do with various using different coding and stuff like that as well. So.

Right, we're out of time. But I'm going to, I'm going to do one final. Well, two questions because we can do them both in one and then that's the final question. If you've got more questions, come and join us on the business advisory Masterclass over the next three days. And also we're doing the next one of these live streams on Chat GPT in two weeks, aren't we, Emily? Same time, same place, Monday. We haven't decided what the theme's going to be, but we'll be doing something on ChatGPT based on things that we've discovered that will help you. Anyway, two questions very quickly, and they're related. Civil says, what about the new interactive Bing? And Cardena says, have you done any research on Bard? So very quickly, just to wrap up, Emily, what's your thoughts on the difference between using ChatGPT with browsing using Bing, using Google's Bard?

Okay, I'll try quick. Bing is a search engine, so it's better if you're researching something really quickly to use Bing, go to their direct. If you're wanting to have written answers, you're wanting to make blogs, write emails, you know, write a landing page, whatever is the engagement letter that we've done today, I would go to ChatGPT and do that direct because it's going to give you a much longer answer. And in terms of Bard, I would say Bard is not quite at the same level as ChatGPT. I think it's still kind of playing catch up. It is a good alternative if you just, you know, you run out of credits and you want to see what Bard does. But I prefer using ChatGPT, but it is going to incorporate that into Google search engine soon as well. So you'll have the option of Bing versus Google and then it just becomes a preference, I think.

Yeah. In both our research and people we've been following, the consensus seems to be that ChatGPT is the best. So that's where we focus on that. Google's Bard isn't so good because they released it too early. They weren't ready, and they were reacting to Microsoft spending $10 billion in January to invest in ChatGPT and put it into Bing, which made Google panic. So Google had to release Bard too early, which is powered by their Palm 2 large language model. And it's just Google playing catch up at the moment. So until they fix their problems, I think ChatGPT is the place to focus on for now. Emily, that was great. You've shared some great stuff there. Remember, if you've enjoyed it, give it a thumbs up. What's the best thing you've learned? And we will hopefully see you over the next three days at the Business Advisory masterclass. Okay, bye for now. I'll play it with some music as usual.

I wasted all my time I wasted all my nights I wasted it on someone who's indifferent it didn't love me right he told me I was blind but I never really wanted to listen.

You have been here since day one see my ups and downs.

Never left my s once you st around.

Who knew it was you you have been here all along you have always been the one you who knew it was you you I've always been the one that you.

Have been here all along.

I never saw the signs it didn't treat me right but I just couldn't let him go oh you waited patiently you waited for me you show me what it was to love.

You have been here since day one see my ups and down.

Never left my side once you st around.

I know it was you you have been here all along you have always been the one you who knew it was you you have always been the one.

You have been here.

You have been here since day one I.

Never left my sight once I.

You.