The weekly newsletter for forward-thinking finance leaders, especially those who leverage Xero and its ecosystem.
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Your weekly go-to guide to transform your finance function into a strategic powerhouse.

Welcome CFO Techstack Community 👋,

In last week’s newsletter, we spotlighted Martin Goodwin from Open Box Software. With no prior experience in Power BI or SQL, Martin taught himself to automate reporting using ChatGPT, DataSights, and domain knowledge, transforming days of manual work into on-demand dashboards. 

 

This week, we head behind the counter at JENKI, where Finance Director Luke Simpson is using AI and self-taught Python to automate reconciliation, explore forecasting, and reclaim time for his lean team. From matcha bars to machine learning, Luke’s story is a reminder that the best results come when AI meets finance know-how and that you don’t need to be a developer to start.

 

FEATURED ARTICLE

AI in Action: From python side projects to AI-powered reconciliation at JENKI

When you walk into one of JENKI’s vibrant matcha bars across London, it’s easy to assume things are just as simple behind the scenes as they appear at the counter. But beneath the surface of every matcha latte is a finance operation quietly powered by automation, AI, and a healthy dose of self-taught Python.


In this week’s AI in Action feature, we spoke to Luke Simpson, Finance Director at JENKI, about how he’s using AI and code to reclaim hours from his finance team’s week, tackle reconciliation headaches, and explore the opportunities of machine learning in hospitality forecasting.

 

Matcha bars, margins and python

Luke joined JENKI in December, stepping into a multi-channel business selling matcha drinks in-store, online, and wholesale.

    “The goal is always to keep the customer experience simple,” Luke explains, “but behind the scenes, things are far more complex: multiple revenue streams, various data sources, changing costs.”

     

    Having taught himself Python years ago, Luke was well-positioned to automate the types of recurring tasks that often sap time in lean finance teams. And now, AI is helping him go even further.

     

    From manual matching to automated journals

    One standout use case? Automating the time consuming sales reconciliation process for Selfridges, one of JENKI’s bars.


    Every week, the finance team receives a remittance PDF and a separate Excel sales report. The goal is to turn that into a clean, reconciled journal entry for Xero. Previously, this would have involved line-by-line checks, manual lookups, and more than a few hours of someone’s time.

     

    Now, thanks to a system Luke built using Python and OCR (optical character recognition), aided by Cursor, the process is almost entirely automated.

    • The script pulls product data from the Excel sheet and categorises
    • It uses OCR to extract values from the remittance PDF
    • It compares the remitted amount, sales report, and what’s recorded in Xero
    • If everything matches, it auto-generates a clean journal entry

    “What used to be a tedious manual check is now just me dropping the files into the right folder,” Luke says. “The script does the rest.” 

     

    It’s a perfect example of where AI plays a supporting role, eliminating the repetitive friction.

     

    Using Cursor  to speed up development (without sacrificing control)

    A key part of Luke’s approach is leveraging AI tools like Cursor effectively.

      ““I used to spend hours on Stack Overflow, trying to stitch together snippets of code,” Luke says. “Now, I use Cursor to build things line by line. It helps me move fast, but I still do the thinking.”

       

      That philosophy matters. Instead of throwing vague prompts at an AI tool and hoping for the best, Luke uses his existing knowledge to drive the process, validating code as he goes and debugging as needed.

       

      “You can code now without understanding the language,” he explains, “but I’ve found that unless you check it properly, it just doesn’t work. Cursor speeds me up, but it doesn’t build it all for me.”

       

      Forecasting habits (not just numbers)

      While Luke is already using AI for reconciliation and reporting, he’s also exploring forecasting, an area he sees too often overcomplicated in hospitality.

       

      “I think we underestimate how habitual our customers are,” Luke says. “Sales patterns are more logical than we realise. People will grab a matcha at set times of the day.”

       

      Luke has built a basic model using past sales data to forecast daily revenue. While it’s not yet in production, it’s already revealing key trends and helping validate his belief that off-the-shelf tools often miss business-specific nuance.

       

      A final word: Use the tools, but think for yourself

      Luke’s story is a powerful reminder that AI works best when paired with human insight. Whether it’s building a reconciliation tool, forecasting sales, or speeding up repetitive reporting, it’s his finance experience, not just the tech, that makes the systems work.

       

      “AI helps me work faster,” Luke says, “but I still do the thinking. That’s the bit that matters.”

       

      Want to learn from others using AI in finance?

      Join The Stack Exchange: Our free Slack forum where in-house finance teams share tools, test ideas, and compare notes on what’s working (and what isn’t) when it comes to AI in the finance function.

            COMMUNITY INSIGHTS

            🎤 How I stacked it

            Chantelle Quick, Managing Director at Astimo, reveals their tech stack

            Astimo has been operating for about four years, providing outsourced financial solutions — from bookkeeping through to CFO — to businesses across a range of industries. Astimo is a growing, referral-only firm. They work closely with tax agents, lawyers, and bankers to build the right client base, and their team operates virtually, supporting clients all over Australia. 

            CQ-1

            Chantelle told us, “No two days are the same! I could be meeting with business owners to discuss budgets, strategy, or operations; reviewing bills in ApprovalMax; or helping clients implement new systems and processes. At the core, the most critical part of what we do is ensuring accurate, timely financial information. One of the most important things for me — both personally and professionally — is working with good people who recognise the value of finance and appreciate the role it plays in decision-making.

            Outside of Astimo, I’m a mum to a two-year-old — so it’s a daily juggle between growing a business, delivering for clients, and enjoying family life!”

             

            Here’s what Chantelle and their team are using:

            1. Mayday for Intercompany: Mayday is a game-changer for group companies, especially those with multi-entity, multi-currency requirements. I love the time saved on intercompany reconciliations, revaluations, and recharges. Everything is centralised — no need to jump between Xero orgs.
            2. AutoEntry for OCR: AutoEntry is excellent for invoice processing, especially because it captures line-item detail. That granularity is essential for accurate reporting and allows for specific account coding and tracking category allocation.
            3. ApprovalMax for Approvals and PO: We use Approvalmax for invoice approvals, purchase orders, and even manual journals. As a reviewer, I spend most of my time here. It empowers clients with ownership and visibility, so our month-end meetings aren’t spent fixing coding issues — they’re focused on decision-making.
            4. Cin7 Core for Inventory: Cin7 is our go-to inventory tool for clients. It’s highly customisable. In health industries, we can track batch numbers, expiry dates, patient info, etc., while still giving clear stock visibility. On the other end, it handles large product catalogues with ease, taking the complexity out of inventory management.
            5. Employment Hero for HR: EmploymentHero is critical for clients with more complex HR and compliance needs.
            6. ClickUp for Internal Operations: While ClickUp is not in the Xero ecosystem, this program is vital for internal operations. We use it for task management and process documentation. So much of our work is repeatable, and ClickUp ensures consistency, clarity, and accountability across the team.
            7. Ignition for Proposals and Billing— We use Ignition for client engagement, pricing, invoicing, and collections. It creates a seamless onboarding and billing experience and takes the hassle out of chasing payments.
            8. Harvest for Billing: For clients in professional services who bill by the hour, Harvest integrates nicely with Xero and gives them the time tracking they need to manage profitability. 

             

              Keen to share how you stack it? Email to  hein.vanzyl@getmayday.com

              THE STACK EXCHANGE

              🧵 This week's top threads, from The Stack Exchange

               
              The Stack Exchange is a Slack forum for connecting with peers, sharing insights, and staying updated on apps and industry events—helping you transform your finance function into a strategic powerhouse.
               
              Here are this week's top 3 discussions from The Stack Exchange:
              1. Looking for some help on reporting/analysis.
              2. Has anyone utilised or know of someone who has worked with Treyd?
              3. Thinking of R&D tax credits. Does anyone use a third party plugin?
                 
              Keen to join? Sign up here >

              NEW IN THE WORLD OF CFO SOFTWARE

              🗞️ News from the stack-o-sphere

               

              • Vinyl is now Xero app certified. Learn more.
              • Moss releases new scheduled payments. Learn more.
              • Spendesk’s new product design & brand identity is officially live. Learn more.

              WHAT THE DATA SAYS

              📊 Stat of the week

               

              Cross-border payment inefficiencies can quietly devour around 5–7% of a business’s revenue.

               

              Research by trolley

              UPCOMING EVENTS

              🗓️ Save the date

               

              Effortless payments. Consistent cashflow.

              Wed, 09 Jul, 11am AEST

              In this session you'll learn: The benefits of collecting payments upfront, from better cashflow to reduced bad debts and improved client relationships. How to seamlessly integrate your payment collection into your engagement process — making it easy for clients to pay and for you to get paid. How automated, upfront payment solutions not only save you time but also provide the financial predictability you need to grow your business.

               

              Keep track of your accounts receivable

              Wed, 16 Jul, 11am BST

              Struggling to get a clear picture of your accounts receivable? You’re not alone. Incomplete visibility is one of the most common and costly challenges finance teams face. Without the right processes and tools, missed follow-ups, duplicate efforts, and delayed payments quickly become the norm.

              But visibility isn't just about chasing unpaid invoices. It's about having the confidence and clarity to manage your receivables proactively, build stronger client relationships, and make smarter financial decisions. In this webinar, Chaser speakers will share 7 practical tips and tools to help you stay fully on top of your accounts receivable. From shared inbox strategies to performance KPIs and smart software integrations, you’ll learn actionable ways to gain full transparency across your AR processes.

               

               

              Built to last: How to design HR programs that survive change and deliver impact

              Wed, 23 Jul, 2pm BST 

              HR programs don’t fail because they’re bad ideas. They fail because we focus on getting it launched at the expense of preparing for maintaining it in changing circumstances.. Whether it’s shifting priorities, tight budgets, or disengaged employees, the risks to your initiative are real and avoidable.

              Join us for a webinar that gives you the tools to future-proof your programs by applying practical risk-management principles.

              MORE OF THE GOOD STUFF

              And lastly, our top picks!

               

              🎧 Podcast: FinOps and Beyond: The Hybrid Role of a CFO-COO with Charlie Hunt, The CFO Playbook.

              📝  Article: Reducing Cross-Border Payment Fees: A Guide for Finance Teams

              😆  Joke: I have a joke about depreciation… but it gets less funny over time.

              Why not forward this newsletter to someone you think would enjoy it?🙏

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