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Prosaic

By Prosaic
5 out of 5 stars
Free 7 day trial available
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Find & share business expenses like home office, motor vehicle or subscriptions, from any personal bank account, automatically. Powered by AI.
Rated
5.0
out of 5
Reviewed by
6
Xero users
Try this app
Free 7 day
trial available
Listed for
4 months
June 2024

Overview

Prosaic enables small businesses and sole traders to instantly find and claim a range of business expenses - like home office, motor vehicle or subscriptions - from personal bank, card and loan accounts. And with real-time visibility for accountants and bookkeepers, you can start returns on your schedule without waiting for clients to complete year-end worksheets or send bank statements.

Simply sign up, connect secure feeds from any number of personal accounts via trusted open banking partner Akahu, then use Prosaic's fast interface and powerful AI to review and post your first expense claim to Xero in minutes.

Prosaic can also retrieve up to two years of transaction history (depending on bank provider), enabling back-dated expense claims for a full financial year.

🏬 Benefits for Businesses & Sole Traders

  • Save Hours: Never fill out a home office spreadsheet for your accountant again.
  • Never Miss Deductions: Easily find and claim partial expenses like home office, or subscriptions, as well as mortgage interest and rent (average users find ~$425 deductions/month).
  • Claim Both Income & GST: Use actual figures - instead of IRD flat rates - so you can claim GST as well as income tax deductions.
  • Improve Cash Flow: Why wait till year end when you could reimburse yourself for business portion of personal spend every month?

👩‍🏫 Benefits for Accountants & Bookkeepers

  • Never Chase Clients: Start tax returns when you choose, with all the information you need from clients already at your fingertips.
  • Add Value: Ensure the best tax position and cash flow for clients by securing them full GST and income tax deductions, on every expense, throughout the year.
  • Streamline Annual Returns: Remove critical blockers in your annual client questionnaire altogether, like home office expenses or bank balances.
Prosaic
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Prosaic + Xero

Prosaic integrates seamlessly with Xero, enabling business users and accountants or bookkeepers to instantly share expenses from Prosaic, into Xero, to ensure tax or GST returns have accurate, actual and timely financial information, every time.

🧾 Post Expense Claims to Xero Journal or Bills

Instantly complete an expense report for any period - monthly, two monthly, or annual (even backdated for a recent financial year) then post this to Xero as a draft bill or journal

🗂️ Map Accounts Between Prosaic and Xero

Map between common expense categories in Prosaic (like home office power, mortgage interest) and Xero chart of accounts to automate expense claims and provide granular P&L reporting

💻 Sign Up & Sign In With Xero

Use your Xero login details to sign into Prosaic securely.

🧭 Switch Between Xero and Prosaic

With App Switcher and Sign In with Xero, you can easily toggle between Xero and Prosaic without having to sign in to two separate apps.

Reviews & ratings

5.0 out of 5 stars
6 Reviews

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Most recent reviews

SW
Stuart Wilkinson
Posted 23 Jul 2024
5 out of 5 stars

Great product to help streamline your process with clients

We have been working with Prosaic for six months and have onboarded a group of our clients onto the tool. As a practice, this helps streamline the home office expense process and allows us to turn what is a painful exercise for our clients into something that adds value.
CV
Carla van Voorst
Posted 18 Jul 2024
5 out of 5 stars

Amazing!

This app is saving me so much time and frustration! It is easy to navigate and simply picks up all my business expenses I would normally have to find manually and sends them straight to Xero. Game changer!
NR
Nicola Riordan
Posted 16 Jul 2024
5 out of 5 stars

Game changer

As a small business owner Prosaic has been an absolute game changer. I’ve simply connected it up to my personal bank accounts and it automatically pulls home office expenses that I’d never have thought to claim and exports them to Xero so it’s all done at the press of the button. It’s wonderful.

Additional info

Shared data

Xero
Prosaic
Invoicesshared from Prosaic to Xero
Tax Ratesshared from Prosaic to Xero
Manual Journalsshared from Prosaic to Xero
Journalsshared from Prosaic to Xero
Accountsshared from Prosaic to Xero

Functions

Accountant toolsBills and expenses

Industries

Professional servicesAccounting

App details

By Prosaic
Added in 2024

Countries

New Zealand

Languages

English

Support

Setup walkthroughContact supporthelp@prosaic.works

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7 day free trial available

Although Xero reviews each app in the Xero App Store, we can’t give any guarantees. It’s up to you to assess the performance, quality and suitability of any app before going ahead.