Prosaic

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.