Docyt AI vs Billy Detailed comparison features, price

Docyt AI

Docyt AI provides an advanced bookkeeping platform leveraging artificial intelligence to automate and streamline accounting processes for businesses, particularly accounting firms and the hospitality industry. It employs AI agents, including the AI Bookkeeper named GARY and Docyt Copilot, to handle tasks such as expense management, revenue reconciliation, month-end closing, and bill pay, significantly reducing manual data entry and potential errors. The platform aims to provide real-time financial insights and reporting, enabling users to work faster and more efficiently.

The software offers features tailored to specific business needs, including multi-entity accounting, industry-specific unit economics tracking, and departmental accounting. It facilitates continuous revenue reconciliation by automatically matching and categorizing transactions. Docyt AI also excels in document extraction and understanding, reading receipts and invoices to extract relevant information accurately. Collaboration tools like a smart mailroom and task assignment features further enhance team productivity within the platform.

Billy

Leverage artificial intelligence to streamline your financial operations with Billy, an automated bookkeeping and accounting assistant. By securely connecting to popular accounting software like QuickBooks Online and Xero, as well as various bank accounts via Plaid, it significantly reduces manual data entry and reconciliation efforts. The platform automatically categorizes transactions, learns your business's financial patterns, and provides support for reconciling accounts, ensuring accuracy and saving valuable time.

Gain immediate access to a real-time overview of your company's financial health through intuitive dashboards and reports. Billy supports multiple currencies, making it suitable for businesses operating internationally. Designed for small businesses, startups, freelancers, and accounting professionals, it offers a collaborative environment where users can invite team members or accountants to access financial data securely.

Pricing

Docyt AI Pricing

Paid

From $499

Docyt AI offers Paid pricing with plans starting from $499 per month .

Billy Pricing

Free Trial

From $29

Billy offers Free Trial pricing with plans starting from $29 per month .

Features

Docyt AI

AI Agents: Automate end-to-end bookkeeping tasks including expense management, revenue management, and month-end close.
Docyt Copilot: Accelerates bookkeeping review, performs audits, detects anomalies, and automates accounting quality checks using Generative AI.
GARY (AI Bookkeeper): Generative Accounting Retrieval sYstem that streamlines workflows, assigns tasks, tracks progress, and provides instant insights via chat.
Continuous Revenue Reconciliation: Automates transaction matching and categorization against bank feeds.
Document Extraction & Understanding: Reads receipts and invoices, extracts data, and categorizes expenses accurately.
Multi-Entity Accounting: Manages bookkeeping for multiple businesses or locations with consolidated reporting options.
Industry-Specific Unit Economics: Tracks relevant KPIs and metrics tailored to specific industries like hospitality.
Smart Mailroom & Collaboration Tools: Automates document handling and facilitates team communication and task management.
AI Financial Insights and Reporting: Generates real-time financial reports, dashboards, and insights, including daily flash revenue reports for hotels.

Billy

AI-Powered Automation: Automatically categorizes transactions and learns financial patterns.
Seamless Integration: Connects directly with QuickBooks Online, Xero, and bank accounts via Plaid.
Reconciliation Support: Streamlines the process of reconciling bank and accounting records.
Real-Time Financial Overview: Provides up-to-date dashboards and financial reports.
Multi-Currency Support: Handles transactions in various currencies for global businesses.
Secure Connections: Utilizes bank-level security and encryption for data protection.
Collaboration Tools: Allows inviting team members or accountants to access financial data.

Use Cases

Docyt AI Use Cases

Automating bookkeeping workflows for accounting firms.
Streamlining financial management for hotels and hospitality businesses.
Managing multi-entity accounting operations.
Automating expense management and bill payment.
Performing continuous revenue reconciliation.
Accelerating month-end closing processes.
Generating real-time financial reports and insights.
Improving collaboration on accounting tasks.
Catch-up bookkeeping for businesses with outdated records.

Billy Use Cases

Automating routine bookkeeping tasks for small businesses.
Simplifying accounting processes for freelancers and solopreneurs.
Providing accountants and bookkeepers with an efficient tool for client management.
Gaining real-time insights into business financial performance.
Streamlining bank account reconciliation.
Managing finances for businesses with multi-currency transactions.

FAQs

Docyt AI FAQs

How do I choose the right plan for my business?

Plans start at $499/month. Schedule a demo, and Docyt’s sales team will help you find the best plan for your business.
What are my payment options?

We accept all debit and credit cards and bill you monthly at the start of your billing period.
I have multiple businesses or one business with multiple locations. Will this cost extra?

Docyt supports multi-entity businesses. Each business or location would need its own Docyt subscription at whatever level is right for that business.
Do you charge extra for support?

Yes, Docyt’s sales team can guide you through the options and associated costs for additional support.

Billy FAQs

How does Billy work?

Billy securely connects to your accounting software (QuickBooks Online or Xero) and bank accounts. Its AI analyzes your transactions, suggests categorizations based on historical data and patterns, and helps streamline the reconciliation process.
Is my financial data secure with Billy?

Yes, Billy uses bank-level encryption and secure connections via Plaid for bank feeds. They also mention compliance standards like SOC 2 to ensure data security and privacy.
What accounting software does Billy support?

Billy currently integrates with QuickBooks Online and Xero.
Who is Billy best suited for?

Billy is designed for small businesses, startups, freelancers, and accountants or bookkeepers looking to automate financial tasks.