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Features and Methods for Automatic Posting Account Classification

Conference paper
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Part of the Communications in Computer and Information Science book series (CCIS, volume 1243)

Abstract

Manual processes in accounting can introduce errors that affect business decisions. Automation (or at least partial automation of accounting processes) can help to minimise human errors. In this paper, we investigate methods for the automation of one of the processes involved in invoice posting – the assignment of account codes to posting entries – using various classification methods. We show that machine learning-based methods can reach a precision of up to 93% for debit account code classification and even up to 98% for credit account code classification.

Keywords

Accounting Machine learning Classification 

Notes

Acknowledgements

The research has been supported by the ICT Competence Centre (www.itkc.lv) within the project “2.6. Research of artificial intelligence methods and creation of complex systems for automation of company accounting processes and decision modeling” of EU Structural funds, ID n\(^{\circ }\) 1.2.1.1/18/A/003.

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Copyright information

© Springer Nature Switzerland AG 2020

Authors and Affiliations

  1. 1.TildeRigaLatvia
  2. 2.University of LatviaRigaLatvia

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