Using Openai’s Chat GPT in Accounting: Pros, Cons Ethical Issues and Evaluating Its Role in Supporting Double-Entry Bookkeeping

Dejan Spasić – University of Niš, Faculty of Economics, Trg kralja Aleksandra Ujedinitelja 11, 18105 Niš, Serbia

Irina Joldeska – Saint Kliment Ohridski University Bitola Faculty of Tourism and Hospitality, Kej Makedonija, 6000 Ohrid, North Macedonia

Anton Vorina – Celje School of Economics, Higher Vocational College, Mariborska 2, 3000 Celje, Slovenia

Vid Vorina – Primož Trubar Elementary School Laško, Trubarjeva ulica 20, 3270 Laško, Slovenia

Abstract: Purpose. This study researches the distinctive integration of OpenAI’s Chat GPT within the domain of accounting, placing a particular emphasis on evolving ethical considerations. The paper also presents two scenarios demonstrating how open Chat GPT can be employed in dou­ble-entry accounting, highlighting the pros and cons of their usage.

Aim. The primary objectives are as follows:

1. To assess the impact of open Chat GPT integration on accounting processes.
2. To understand how accounting professionals perceive and address eth­ical concerns in the utilization of open Chat GPT.
3. To evaluate the effectiveness of open Chat GPT in supporting dou­ble-entry bookkeeping accounting.

Methodology. In the exploration of contemporary management practic­es, this research investigates scholarly papers and online resources, utiliz­ing platforms such as Google Scholar and Google Search. The period under consideration spans from 2021 to 2023. On November 23, 2023, we conduct­ed a practical test to use Chat GPT’s ability to assist in accounting entries re­lated to X-Hotel events through an open chat. The assessment aimed to de­termine the efficacy of Open Chat GPT in supporting accountants. Initial­ly, two scenarios were independently addressed by experts, followed by the same scenarios being presented to open Chat GPT for resolution, and the outcomes were subsequently compared.

Conclusion. Companies should establish guidelines for the ethical use of open Chat GPT in accounting. While open Chat GPT can effectively assist in certain aspects of double-entry bookkeeping, it should be used judicious­ly and complemented with expert oversight for tasks that demand a higher level of accuracy and detail.

LIMEN Conference

9th International Scientific-Business Conference – LIMEN 2023 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Hybrid (Graz University of Technology, Graz, Austria), December 7, 2023

LIMEN Conference Proceedings published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia

LIMEN Conference 2023 Conference Proceedings: ISBN 978-86-80194-78-3, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

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